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Architecture, economics - architectural economics [Architektur, ökonomie - Architekturökonomie]

Ahlfeldt, Gabriel M. (2010) Architecture, economics - architectural economics [Architektur, ökonomie - Architekturökonomie]. Perspektiven Der Wirtschaftspolitik, 11 (4). pp. 340-355. ISSN 1465-6493

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Abstract

This article discusses the provision of sophisticated architecture from the perspective of welfare economics. Given that rational real estate investors do not take into account the external effects of building design quality on the neighborhood, there is a risk of underinvestment into the external appearance of buildings in the market equilibrium. Whether public interventions as well as recent attempts to promote urban economic development by architectural landmark projects are justified, however, essentially depends on the existence of significant spillovers. On this background, we discuss evidence on architectural externalities available for Berlin, Germany and provide first estimates of aggregated external benefits. © 2010 Verein für Socialpolitik.

Item Type: Article
Official URL: http://www.wiley.com/bw/journal.asp?ref=1465-6493
Additional Information: © 2010 Verein für Socialpolitik.
Library of Congress subject classification: G Geography. Anthropology. Recreation > G Geography (General)
H Social Sciences > HC Economic History and Conditions
N Fine Arts > NA Architecture
Sets: Departments > Geography and Environment
Research centres and groups > Spatial Economics Research Centre
Collections > Economists Online
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 20 Mar 2011 17:17
URL: http://eprints.lse.ac.uk/32983/

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