scholarly journals A Study on the Value of Preserving a Parasitic Volcanic Sieve as a Tourism Good for Sustainable Management: Using the Contingent Valuation Method

2020 ◽  
Vol 12 (7) ◽  
pp. 2825
Author(s):  
Won Seok Lee
Keyword(s):  
Willingness To Pay ◽  
Contingent Valuation ◽  
Causal Relationship ◽  
Sustainable Management ◽  
Contingent Valuation Method ◽  
Economic Value ◽  
Dichotomous Choice ◽  
Valuation Method ◽  
Good For

The purpose of this study is to estimate the economic value of Geomun Oreum (GO), a parasitic volcanic sieve, for sustainable management by using the dichotomous choice contingent valuation method. To address the exaggeration tendency of willingness to pay (WTP), the contingent valuation method’s (CVM’s) traditional threshold, respondents’ WTP answers were reconfirmed to screen only true responses for our analysis. In addition to estimating the economic value, the causal relationship between the tour guide’s quality of explanation and the respondents’ payment intention is examined in the study. The results reveal that the estimated preservation value of GO is 35,881 KRW (33.28 USD), and the quality of the tour guide’s narrative is statistically related to the respondents’ payment intention.

scholarly journals The Provision Point Mechanism and Scenario Rejection in Contingent Valuation

2009 ◽  
Vol 38 (2) ◽  
pp. 271-280 ◽  
Author(s):  
Peter A. Groothuis ◽  
John C. Whitehead
Keyword(s):  
Willingness To Pay ◽  
Contingent Valuation ◽  
Contingent Valuation Method ◽  
Free Riding ◽  
Dichotomous Choice ◽  
Economic Experiments ◽  
Valuation Method ◽  
Provision Point

The provision point mechanism mitigates free-riding behavior in economic experiments. In two contingent valuation method surveys, we implement the provision point design. We ask respondents for their perceptions about the success of the provision point mechanism. We find that respondents who believe that the provision point would not be met are more likely to saynoto a contingent valuation dichotomous choice question. The scenario rejection that arises may result in biased willingness-to-pay estimates.

La valutazione economica delle risorse culturali. Un'applicazione della Contingent Valuation

2009 ◽  
pp. 107-122
Author(s):  
Francesca Mazza
Keyword(s):  
Willingness To Pay ◽  
Contingent Valuation ◽  
Contingent Valuation Method ◽  
Economic Value ◽  
Cultural Resources ◽  
Existence Value ◽  
Valuation Method ◽  
Total Economic Value ◽  
Key Words Evaluation

-The case study examines the economic aspects of cultural heritage conservation and deals the valuation of economic value in monetary terms, using the application of the contingent valuation method to the castle of Nicastro (Catanzaro, Italy). For the construction of the hypothetical market and the selection criteria and approach to subjects of the statistic sample, the proposed solutions work with operative adjustments, dictated by the characteristics of the resource in question and in general for all cultural resources. The study has produced reliable answers to questions of willingness to pay, expressing the measure of the different components of the value (use value and existence value) contribute to the composition of the total economic value. The study allowed to verify the possibility of using the contingent valuation as a political tool. The particular question format, which combines ‘double bounded dichotomous choice' and ‘open ended' techniques has allowed us to take a sensitivity analysis, defining the measure of willingness to pay.Key words: evaluation cultural resource, contingent valuation method, willingness to payParole chiave: valutazione, beni culturali, metodo di valutazione contingente, disponibilitŕ a pagare

Stated Willingness to Pay for Public Goods: A Psychological Perspective

1993 ◽  
Vol 4 (5) ◽  
pp. 310-315 ◽  
Author(s):  
Daniel Kahneman ◽  
Ilana Ritov ◽  
Karen E. Jacowitz ◽  
Paul Grant
Keyword(s):  
Public Health ◽  
Willingness To Pay ◽  
Public Goods ◽  
Contingent Valuation ◽  
Contingent Valuation Method ◽  
Economic Value ◽  
Psychological Perspective ◽  
Valuation Method ◽  
Highly Correlated

In the contingent valuation method for the valuation of public goods, survey respondents are asked to indicate the amount they are willing to pay (WTP) for the provision of a good. We contrast economic and psychological analyses of WTP and describe a study in which respondents indicated their WTP to prevent or to remedy threats to public health or to the environment, attributed either to human or to natural causes. WTP was significantly higher when the cause of a harm was human, though the effect was not large. The means of WTP for 16 issues were highly correlated with the means of other measures of attitude, including a simple rating of the importance of the threat. The responses are better described as expressions of attitudes than as indications of economic value, contrary to the assumptions of the contingent valuation method.

scholarly journals ESTIMATION OF CONSUMERS’ WILLINGNESS TO PAY FOR CAVENDISH BANANA USING CONTINGENT VALUATION METHOD IN SPECIAL PROVINCE YOGYAKARTA

Agro Ekonomi ◽  
2019 ◽  
Vol 30 (2) ◽  
Author(s):  
Novia Dewi Karisyawati ◽  
Any Suryantini ◽  
Arini Wahyu Utami
Keyword(s):  
Willingness To Pay ◽  
Contingent Valuation ◽  
Contingent Valuation Method ◽  
Market Price ◽  
Primary Data ◽  
Good Opportunity ◽  
Determinant Factors ◽  
Valuation Method ◽  
Cavendish Banana

Banana is a fruit with the highest consumption level in Indonesia. There are many types of bananas in Indonesia, but only a few types are sold in modern markets and fruit shops, among other Cavendish banana. The Cavendish is known to consumers by their attractive appearance, superior quality and relatively higher prices. This study aims to assess the value of the consumers’ willingness to pay (WTP) for Cavendish banana and its determinant factors. There are two methods used, i.e., contingent valuation method to evaluate the consumers’ willingness to pay, and multiple regression to analyse its determinant factors. Primary data were obtained from 100 respondents by purposive sampling and interviewed in Yogyakarta Special Region between April and June 2019. The results indicate that the consumers’ willingness to pay (WTP) for Cavendish banana is IDR 24,485/kg, which is above the market price. The determinant factors of the consumers’ willingness to pay include the Cavendish banana price, quality of the Cavendish, monthly frequency of consuming banana, family size, income and marital status. The high value of the consumers’ willingness to pay indicates the good opportunity to expand the Cavendish banana market in Special Province Yogyakarta, by taking into account quality and market segmentation.

scholarly journals ECONOMIC ANALYSIS OF HERITAGE TOURISM AT OLD TOWN AREA SURABAYA

2019 ◽  
Vol 4 (1) ◽  
pp. 8
Author(s):  
Muryani Muryani
Keyword(s):  
Willingness To Pay ◽  
Cultural Heritage ◽  
Contingent Valuation ◽  
Contingent Valuation Method ◽  
Multinomial Logistic Regression ◽  
Heritage Tourism ◽  
Economic Value ◽  
Valuation Method ◽  
Town Area

AbstractThis study is an application of cultural heritage valuation using non-market methods. Contingent Valuation Method used to measure the amount of economic value by estimating willingness to pay from Surabaya residents. The economic value of the Old Town Area of Surabaya if there were improvementanddevelopment of heritage tourism is Rp. 1.471.764 billion.This value is greater than before improvement and development that is only Rp. 3.914.892.240. Multinomial logit regression was used to identify factors that affect the interest to visit and willingness to pay for the respondent. Results indicates that age, education, income, and knowledge significantly influence the interest to visit and willingness to pay. Therefore, it is necessary to encourage the development of heritage tourism, having regard to the determination of stakeholder and policy priorities.The method used in the determination of stakeholder and policy priorities is the Analytic Hierarchy Process.Overall, the use of three methods provide complete results so it can be a reference in the field of cultural heritage research and advice in the development of heritage tourism, especially in the old city area of Surabaya.Keywords: economic valuation, multinomial logistic regression, contingent valuation method, analythical hierarchy process.

scholarly journals Economic value of community forest to local users : A case study from Barandabhar Protected Forest, Chitwan, Nepal

2019 ◽  
Vol 29 (2) ◽  
pp. 20-27
Author(s):  
R. Lamichhane ◽  
A. Sedhain ◽  
M. Maharjan
Keyword(s):  
Willingness To Pay ◽  
Contingent Valuation ◽  
Sustainable Management ◽  
Contingent Valuation Method ◽  
Economic Value ◽  
Market Price ◽  
Forest Products ◽  
Multiple Regression Model ◽  
Factors Affecting ◽  
Management And Conservation

Barandabhar Protected Forest (PF) has provided numerous goods and services to the people living around the forest. Integrated evaluation of this PF along with its ecological and economic value is required for the conservation and sustainable management of its forest resource. The field study was carried out in two community-managed forests around the Barandabhar PF Market Price Method and Contingent Valuation Method were used to estimate the use and non-use values of the forest. Determination of the local users' willingness to pay for sustainable management and conservation of the natural resources was done through Contingent Valuation Survey. It was administered to 142 users. Multiple Regression Model was used to analyze the factors affecting the users' willingness to pay (WTP) value. The WTP value for the conservation and sustainable management of forest was found to be affected by the income and gender of the users and their time to reach the forest. The study revealed that the women were more willing to pay for the environmental services provided by the forest. Based on the household (HH) survey, the average HH-consumption of the forest products (timber, fodder and fuelwood) was estimated to be worth of NRs. 5,246 (US$ 46. 69) per HH per year and the specific use value of the forest was estimated to be NRs. 15,160,940 (US$134,931. 82) per year. The total WTP value for the sustainable management and conservation of the forests was estimated to be NRs. 1,341,153 (US$11,936. 20) per year; the users' average WTP value for the conservation and sustainable management of the Barandabhar PF being NRs. 589 (US$ 5. 24) per HH per year.  

scholarly journals STRATEGI PENINGKATAN RETRIBUSI SAMPAH RUMAH TANGGA SEBAGAI SUMBER PENDAPATAN ASLI DAERAH KOTA BEKASI

2018 ◽  
Vol 10 ◽  
Author(s):  
Eko Yulianto Widhi Hertomo ◽  
Nunung Kusnadi ◽  
A. Faroby Falatehan
Keyword(s):  
Human Resources ◽  
Willingness To Pay ◽  
Contingent Valuation ◽  
Contingent Valuation Method ◽  
Large Population ◽  
Household Waste ◽  
Local Revenue ◽  
Valuation Method ◽  
Hierarchy Process

ABSTRACTBekasi is a city which has a a large population because it lies in the strategic position to support Jakarta city. The higher the population, the more waste it produces. The potential revenue from the household waste retribution as a source of Bekasi city’s local revenue will be high and need to be maximized. The objectives of this research were to analyze the contribution of waste retribution in accordance to Bekasi city’s local revenue; to estimate the household Willingness to Pay (WTP) in paying the household waste retribution by Contingent Valuation Method (CVM) and factors that affect the WTP; and to determine the hierarchy of strategies for increasing the household waste retribution. The result indicated that the contribution of waste retribution still very low, 1,2 percent in year 2010 and dropped to 0,5 percent in 2016. It was caused by the low tariff in the waste retribution collection system, the lack of quantity and quality of human resources, the low awareness of the community in participating to waste retribution and the lack of facilities in waste services. Based on the CVM analysis, the WTP average for each household is equal to IDR35.000, affected by the house category, frequency of waste transported, and other expense paid together with the waste retribution. The hierarchy of strategies based on AHP method were improvement of facilities and infrastructures, revision of Bekasi waste tariff regulation, improvement of human resources in quantity and quality, dissemination and law enforcement, and  incentives in waste reduction.Keywords: Contribution, Retribution, Strategies, Waste, WTPABSTRAKKota Bekasi adalah kota yang padat penduduk karena terletak di posisi strategis sebagai penyangga kota Jakarta. Semakin padatnya populasi penduduk maka sampah yang dihasilkan semakin banyak. Potensi penerimaan dari retribusi sampah rumah tangga sebagai salah satu komponen Pendapatan Asli Daerah (PAD) kota Bekasi akan tinggi dan perlu ditingkatkan semaksimal mungkin. Tujuan dari penelitian ini adalah untuk menganalisis peran retribusi sampah terhadap PAD kota Bekasi, untuk mengestimasi Willingness to Pay (WTP)/kesediaan rumah tangga dalam membayar retribusi sampah dengan Contingent Valuation Method (CVM) dan menentukan faktor-faktor yang mempengaruhinya, dan menentukan prioritas strategi dalam meningkatkan retribusi sampah rumah tangga di kota Bekasi. Hasil penelitian menunjukkan bahwa kontribusi sampah masih sangat rendah yaitu 1,2 persen pada tahun 2010 dan menurun menjadi 0,5 persen pada tahun 2016. Hal ini diakibatkan oleh rendahnya tarif retribusi dalam sistem pemungutan, rendahnya kuantitas dan kualitas sumber daya manusia (SDM), rendahnya kesadaran dan partisipasi masyarakat dalam membayar retribusi dan rendahnya sarana prasarana pelayanan. Berdasarkan analisis CVM, rata-rata WTP rumah tangga sebesar Rp35.000,00, dipengaruhi oleh kategori rumah, frekuensi sampah diangkut dan biaya lain yang dibayarkan bersamaan dengan pembayaran retribusi sampah. Prioritas strategi berdasarkan metode Analytical Hierarchy Process (AHP) adalah peningkatan sarana dan prasarana, revisi peraturan daerah mengenai struktur tarif retribusi, peningkatan kuantitas dan kualitas SDM, penyuluhan dan penegakan hukum dan insentif pengurangan sampah.        Kata Kunci: Kontribusi, Retribusi, Sampah, Strategi, WTP

scholarly journals Determinantion of visitors’ willingness to pay to enter Karagol Natural Park of Ankara, Turkey

2018 ◽  
Vol 48 (7) ◽  
Author(s):  
Coskun Serefoglu
Keyword(s):  
Willingness To Pay ◽  
Contingent Valuation ◽  
Contingent Valuation Method ◽  
Economic Value ◽  
Probit Model ◽  
Valuation Method ◽  
Natural Park ◽  
Working Status

ABSTRACT: The objectives of this study were to assess visitors’ attitudes, if visitors would be willing to pay to enter Lake Karagol, and what factors affect their decision to pay. The contingent valuation method was used to estimate the economic value of the lake by assessing willingness to pay (WTP). Double dichotomous questions were used in the survey. Respondents were first asked whether or not they would be willing to pay the starting bid. They could either answer in the affirmative (that is, accepted bid) or in the negative (that is, reject the starting bid). The average WTP for an entrance fee was found to be about USD 0.22 for all observations when zero bids were included, and about USD 4.40 when zero bids were excluded. Result of the probit model showed that respondents with a higher income, respondents who were young, and the working status of the respondents had significant impacts on the probability of the WTP.

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