Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/80650
Title: Estimating the preservation value of world heritage site using contingent valuation method : the case of the Li River, China
Authors: Jin, M
Juan, Y
Choi, Y 
Lee, CK
Keywords: Dichotomous choice-contingent valuation method
Guilin
Involvement
Li River
Perceived value
Place attachment
Sustainable tourism
World heritage site
Issue Date: 2019
Publisher: Molecular Diversity Preservation International (MDPI)
Source: Sustainability, 2019, v. 11, no. 4, 1100 How to cite?
Journal: Sustainability 
Abstract: World Heritage Sites (WHSs) play an important role in sustaining community identity and enhancing local economic development through tourism. Although the Li River was designated as a WHS in 2014, severe damage to its ecosystem and environmental problems have been reported in recent years. Thus, the purpose of this study is to estimate residents' willingness to pay (WTP) for the preservation of the Li River using a contingent valuation method. Moreover, a two-stage approach using hypothetical and real setting scenarios was utilized to reduce a hypothetical bias and overvaluation. Logit models were used to estimate the preservation value and compare factors influencingWTP between the hypothetical and real scenarios. The results of this study support the usefulness of a two-stage approach to avoid hypothetical bias and estimate a realistic preservation value. In the real setting scenario,WTP was 144.66-163.90 Yuan (USD 20.83-23.60) per capita per year, and the aggregate value was 721-818 million Yuan (USD 104-118 million) depending on mean WTP and truncated WTP. The study findings provide useful implication to support government's fund and sustainable efforts to preserve the Li River.
URI: http://hdl.handle.net/10397/80650
EISSN: 2071-1050
DOI: 10.3390/su11041100
Rights: © 2019 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (http://creativecommons.org/licenses/by/4.0/).
The following publication Salari, M., Kattan, L., Lam, W. H., Lo, H. P., & Esfeh, M. A. (2019). Optimization of traffic sensor location for complete link flow observability in traffic network considering sensor failure. Transportation Research Part B: Methodological, 121, 216-251 is available at https://doi.org/10.1016/j.trb.2019.01.004
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