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Game of zones: the political economy of conservation areas

Ahlfeldt, Gabriel M. and Möller, Kristoffer and Waights, Sevrin and Wendland, Nicolai (2017) Game of zones: the political economy of conservation areas. Economic Journal, 127. F421-F445. ISSN 0013-0133

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Identification Number: 10.1111/ecoj.12454

Abstract

We develop and test a simple theory of the conservation area designation process in which we postulate that the level of designation is chosen to comply with interests of local homeowners. Conservation areas provide benefits to local homeowners by reducing uncertainty regarding the future of their area. At the same time, the restrictions impose a cost by limiting the degree to which properties can be altered. In line with our model predictions we find that an increase in preferences for historic character by the local population increases the likelihood of a designation, and that new designations at the margin are not associated with significant house price capitalisation effects.

Item Type: Article
Official URL: http://onlinelibrary.wiley.com/journal/10.1111/(IS...
Additional Information: © 2017 Royal Economic Society
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD100 Land Use
H Social Sciences > HF Commerce
K Law > KD England and Wales
JEL classification: H - Public Economics > H2 - Taxation, Subsidies, and Revenue > H23 - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
H - Public Economics > H3 - Fiscal Policies and Behavior of Economic Agents > H31 - Household
R - Urban, Rural, and Regional Economics > R4 - Transportation Systems > R40 - General
R - Urban, Rural, and Regional Economics > R5 - Regional Government Analysis > R58 - Regional Development Policy
Sets: Departments > Geography and Environment
Date Deposited: 27 Apr 2016 09:49
Last Modified: 10 Nov 2017 14:37
Funders: English Heritage, Suntory and Toyota International Centres for Economics and Related Disciplines
URI: http://eprints.lse.ac.uk/id/eprint/66244

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