Economic value of intangible cultural heritage: A contingent valuation analysis in Bahia Blanca, Argentina

Intangible cultural heritage has characteristics of public goods, which complicates both the determination of its economic value and the design of public policies. Such is the case of the Organismos Artísticos del Sur in Bahía Blanca, Argentina. This study applies the contingent valuation method to estimate the willingness to pay to keep this institution operating, using a Tobit model. The findings show that economic value is more strongly related to residents’ perception and social appreciation of the artistic ensembles than to their own cultural capital. This result legitimises actions aimed at advancing their patrimonialisation process.