TAILIEUCHUNG - Beyond Aesthetics: How Billboards Affect Economic Prosperity

That embodiment implies embeddedness is an insight from ecology: A physical body will always exist in a surrounding context (cf. Gibson 1979). Since cognition is embodied, it is as well embedded, which means that any type of cognitive process is adapted to and depends on the setting in which it occurs. The concept of embeddedness shifts the theoretical focus from the mind as a bodily entity with physical and causal properties to the shared environment in which the processes of the mind take place and so from the nature of the cognitive processes to the socio-cultural practices that support them | Beyond Aesthetics How Billboards Affect Economic Prosperity Jonathan Snyder Samuel S. Fels Fund December 2011 Introduction This paper seeks to answer the question of how billboards affect the economic prosperity of their surrounding areas. By combining US Census data local home price data and zoning code data with geographic information system GIS and statistical analysis tools one can examine the complex interplay between billboards and economic prosperity. After a brief examination of the history of billboards and billboard regulation and a review of the available literature this paper will analyze three fundamental questions 1. What impact do billboards have on real estate prices in the City of Philadelphia 2. What impact do billboards have on home value within census tracts in the City of Philadelphia 3. What impact do billboard regulations have on median income poverty rates and vacancy rates in different cities in the United States Philadelphia was selected for this research for several reasons. It is large enough to make a careful examination of the interplay between billboards and real estate prices. Further it has elements of both weak and strong market cities in that it has an affluent residential downtown area with significant purchasing power1 but as a whole the city has a lower median income compared to the national Lastly Philadelphia has a zoning code that caps billboards and attempts to decrease their number through attrition but it also has a history of allowing billboard companies to bypass the restrictions within the zoning 1 74 317 household income according to the Center City District s November 2010 retail report. 2 US median household income is 51 425 according to US Census 2005-9 estimates Philadelphia median household income is 36 669. 3 The passage of Bill 100720 creates a signage district in Center City. 1 In short Philadelphia presents a good case study for this analysis as it embodies the different arguments and tools .

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