Inhabitants' Willingness to Pay for Cultural Heritage: A Case Study in Valdivia, Chile, Using Contingent Valuation

Autor:	Luis César Herrero, José Ángel Sanz, Ana María Bedate, Andrea Báez-Montenegro
Rok vydání:	2012
Předmět:	Estimation Contingent valuation Public economics business.industry Distribution (economics) Probit Cultural capital Cultural heritage Microeconomics Willingness to pay Economics business General Economics Econometrics and Finance Socioeconomic status
Zdroj:	Journal of Applied Economics. 15:235-258
ISSN:	1667-6726 1514-0326
DOI:	10.1016/s1514-0326(12)60011-7
Popis:	We estimate the economic value of the urban cultural heritage of Valdivia, Chile, an emblematic historical city that comprises an ensemble of disperse cultural heritage elements. To derive its economic value we use the preferences stated by residents. The contingent valuation method with parametrical estimation (probit bivariate models) is applied, consisting of a survey employing double-bounded questions. The paper contributes to broadening the spectrum of case studies in this line of research in developing countries. It also seeks to determine which socioeconomic and demographical factors of interviewees prove significant when estimating willingness to pay (WTP). WTP is significant, although it reveals a slight drop as the degree of certainty of actually making a payment, in accordance with the hypothetical valuations that are stated, increases. WTP is positively related to educational qualifications and cultural habits, but there seem to be no major differences in terms of urban distribution.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::43ed715c9f3cebc95ea55cb93fef8744 https://doi.org/10.1016/s1514-0326(12)60011-7 Zobrazit plný text záznamu Plný text ve formátu PDF