Economic Valuation of Green Island, Taiwan: A Choice Experiment Method

Han-Shen Chen and Chu-Wei Chen
Additional contact information
Han-Shen Chen: Department of Health Diet and Industry Management, Chung Shan Medical University, No. 110, Sec. 1, Jianguo N. Rd., Taichung City 40201, Taiwan
Chu-Wei Chen: Department of Applied Economics, National Chung Hsing University, No. 250, Kuo Kuang Rd., Taichung 40227, Taiwan

Sustainability, 2019, vol. 11, issue 2, 1-17

Abstract: The evaluation of ecological security and ecosystem services is now a core issue in the field of natural and environmental resources. Quantifying the economic value of island ecosystem services can inform policy decisions that affect the island and help justify expenditures on ecosystem service improvements. This study investigates the preferences of residents and tourists regarding Green Island and estimates willingness-to-pay (WTP) values for island ecosystem services using a choice experiment. The results indicate significant differences between the preferences of residents and tourists regarding island environmental resources. Therefore, based on the multiple attributes and ecosystem services, this study formulated three assessment schemes: “environmental protection”, “recreational development”, and “integrated operation and management”. Based on our analysis of the problems reflected in the aforementioned valuation models, we recommend that policy makers refer to environmental attribute preferences to create statements or advertisements targeting relevant audiences when planning island development. This paper contributes to the literature by demonstrating how the economic valuation of island ecosystem services can help design and target island conservation policies in order to maximize welfare.

Keywords: tourism; sustainability; climate change; choice experiment; islands (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
https://www.mdpi.com/2071-1050/11/2/403/pdf (application/pdf)
https://www.mdpi.com/2071-1050/11/2/403/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:11:y:2019:i:2:p:403-:d:197685

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().