Pek, Chuen-Khee and Tee, Chee-Hoong and Ng, Phuay-Ying (2010): A Contingent Valuation Estimation of Hill Recreational and Services Values in Malaysia.
Download (184Kb) | Preview
This study estimates the economic values of household preference for preservation and conservation of hill recreational and services values in Malaysia. The Contingent Valuation technique is employed on 100 randomly selected households in the vicinities of Taman Melawati Hill. The study finds that hill preservation is important and the public is willing to pay for initiatives to mitigate further degradation to this ecosystem. More specifically, the study ascertains that households on average are willing to donate MYR92.40 per annum to the trust fund for hill mitigation management initiatives. This value conveys a total economic value of MYR51.6 million per annum, based on the Selangor state population who are willing to pay for the mitigation cause. This substantial value can help policy makers to identify any mismatch between what the public actually demands and are wiling to pay for and the degradation to the supply due to modern developments.
|Item Type:||MPRA Paper|
|Original Title:||A Contingent Valuation Estimation of Hill Recreational and Services Values in Malaysia|
|Keywords:||willingness-to-pay, hill recreational and services values, contingent valuation|
|Subjects:||Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics > Q5 - Environmental Economics > Q51 - Valuation of Environmental Effects|
|Depositing User:||Chuen-Khee Pek|
|Date Deposited:||10. Jun 2010 00:30|
|Last Modified:||15. Feb 2013 16:36|
Adam, C., Motta, R.S., Ortiz, R.A., Reid, J., Aznar, C.E., & Sinisgalli, P.A. (2007). The use of contingent valuation for evaluating protected areas in the developing world: Economic valuation of Morro do Diabo State Park, Atlantic Rainforest, Sao Paulo State (Brazil). ECOLEC-02954, 1-12.
Amirnejad, H., Khalilian, S., Assareh, M.H., & Ahmadian, M. (2006). Estimating the existence value of north forests of Iran by using a contingent valuation method. Ecological Economics, 58, 665-675.
Barnes, J.I., Schier, C., & Rooy, G.V. (1997). Tourists’ willingness to pay for wildlife viewing and wildlife conservation in Namibia. Ministry of Environment and Tourism, 15, 1-24.
Blaine, T.W., & Smith, T. (2006). From water quality to riparian corridors: Assessing willingness to pay to conservation easements using the contingent valuation method. Extension Journal, 44(2), 1-15.
Boyle K. J. (1996). Valuing public goods: discrete versus continuous contingent valuation responses. Land Economics, 72, 381-396.
Chambers, C.M., & Whitehead, J.C. (1996). Contingent valuation of quasi-public goods: Validity, reliability, and application of valuing a historic site. Department of Economics and Finance, Central Missouri State University.
Chang, J.I., Yoo, S.H., & Kwak, S.J. (2000). Measuring the conservation value of the Songji Loggon with an investigation of preference uncertainty. Department of Economics, Korea University.
Cho, S.H., Newman, D.H., & Bowker, J.M. (2005). Measuring rural homeowners’ willingness to pay for land conservation easements. Forest Policy and Economics, 7, 757-770.
Cummings, R. G., Brookshire, D.S., & Schulze, W.D. (Eds.). (1986). Valuing public goods: An assessment of contingent valuation method. Totowa, NJ: Rowman and Aallanheld.
Diamond, P., & Hausman, J. (1994). Contingent valuation: is some number better than no number? Journal of Economic Perspectives, 8, 45-64.
Jamal, O. (2000). Non-use values and management options: The case of Matang Mangroves, Malaysia. Paper presented in the World Conference on Environment and Development, organized by the Beijer Insitutite, Sweden, September 7-10.
Jamal, O., Bennett, J., & Blamey, R. (2004). Environmental values and resource management options: a choice modeling experience in Malaysia. Environment and Development Economics, 9, 803-824. Cambridge University Press.
Kramer, R.A., & Mercer, D.E. (1997). Valuing a global environmental good: U.S. residents’ willingness to pay to protect tropical rain forests. Land Economics, 73(2), 196-210.
Lee, C.K., & Mjelde, J.W. (2007). Valuation of ecotourism resources using a contingent valuation method: The case of Korean DMZ. Ecological Economic, 63, 511-520.
Lienhoop, N., & MacMillan, D. (2005). Valuing wilderness in Iceland: Estimation of WTP and WTA using the market stall approach to contingent valuation. Land Use Policy, 24, 289-295.
List, J.A., & Gallet, C.A. (2001). What experimental protocol influence disparities between actual and hypothetical stated values? Evidence from a Meta-Analysis.” Environmental and Resource Economics, 20, 241-254.
Marikan, D.A.A., Radam, A., & Siti Baizura, J.Z. (2006). The Economics of Recreational Park Conservation: A Case Study of Bako National Park. Staff paper, University Putra Malaysia.
Mitchell, R., & Carson, R. (1989). Using surveys to value public goods: The contingent valuation method. Resources for the Future, Washington DC.
O’Conor, R.M., Johanesson, M., & Johansson, P-O. (1999). Stated preferences, real behaviour and anchoring: Some empirical evidence. Environmental and Resource Economics, 13, 235-248.
Radam, A., & Sharifuddin, J. (2005). Use of dichotomous choice contigent valuation method to value the Putrajaya Wetland Park. Proceedings of the Towards a Richer Understanding of Economy and Financial Markets-Statistical and Econometrics Advances, Kota Kinabalu, Labuan International Campus, 483-489.
Sattout, E.J., Talhouk, S.N., & Caligari, P.D.S. (2007). Economic value of cedar relics in Lebanon: An application of contingent valuation method for conservation. Ecological Economics, 61, 315-322.
Tapvong, C., & Kruavan, J. (2003) Water quality improvements: A contingent valuation study of The Chao Phraya River. Retrieved November 1, 2007, from http://22.214.171.124/publications/research1/ACF23D.html.
Whitehead, J.C., & Finney, S.S. (2003). Willingness to pay for submerged maritime cultural resources. Journal of Cultural Economics, 27, 231-240.
Yaping, D. (2003). The value of improved water quality for recreation in East Lake, Wuhan, China: An application of contingent valuation and travel cost method. Retrieved November 1, 2007, from http://126.96.36.199/publications/research1/ACF9C.html.
Yoo, S.H., & Kwak, S.Y. (2009). Willingness to pay for green electricity in Korea: A contingent valuation study. Energy Policy, 37, 5408-5416.