Value assessment of built heritage: a case study of Ferdowsi mausoleum

Abstract

Purpose – Considering built heritage as public goods demands a lot of planning as usually historic sites and monuments are administrated by governments. The purpose of this paper is to propose and apply contingent valuation method (CVM) for the value assessment of historic sites as public goods. Design/methodology/approach – The aim of this research is to apply CVM to assess the total value as well as sub values, use and non-use values of a historic site. Ferdowsi mausoleum in Tus historic area near Mashhad city in Iran has been chosen as a case study. Findings – The paper indicates that historic sites meet all the criteria for being considered as public goods and obtained high amount of willingness to pay proves the significance of Ferdowsi mausoleum to the people of Mashhad city and its tourists. Non-use values comprise the highest share of value and cultural identity has the highest value among non-use values. Practical implications – It is recommended that CVM be applied in cost-benefit analysis of historic sites. This is useful in the process of prioritization of restoration and maintenance of historic sites and could be used by policy makers in policy crafting processes. Originality/value – CVM has been used for the first time for a mausoleum and for a site in Iran and sub values have been measured for the first time for a historic site.