This paper examines the nature and operation of The UNESCO World Heritage List by the political economic approach. UNESCO adopted the Convention Concerning the Protection of the World Cultural and Natural Heritage at its seventeenth session in Paris in 1972. The Convention contained the World heritage list, and then intangible cultural heritage and memory of the world followed this list system. Generally heritages are conceived as global public goods, UNESCO took global governance as form of a representative list. In this system UNESCO could operate the World Heritage List as cost efficient tool in exchange for each national efforts to protect their own heritage directly.There are several problems in decision making process of the World Heritage Committee. As the political influence of the national representatives in international organizations has been the subject of studies, the selection of what cultural and natural sites should be included in the List is strongly influenced by experts who consult and recommend to the World Heritage Committee. World heritage nomination process is related to rent seeking behavior because Being on the list is highly desired by many as it brings prominence and monetary revenue. As the number of world heritage sites increases, the value of being included the list deceases. Thus the committee would like to control to keep optimum size of the list. the World Heritage Committee, consisting of 21 member states which have a voting right to determine whether heritage is being in the list, has incentive to behave opportunistically and strategically.