Tourists' Evaluation of Climate Change Risks in the Canary Islands: A Heterogeneous Response Modelling Approach

Carmelo J. León, Jorge E. Araña, Matías González and Javier de León

Tourism Economics, 2014, vol. 20, issue 4, 849-868

Abstract: This paper compares the differences between the monetary measures of willingness to accept and willingness to pay (WTP) for changes in climate change risk. The empirical evidence comes from tourists in the Canary Islands. The modelling approach utilizes a Bayesian mixture of normal distribution model that allows the authors to consider heterogeneity across both WTP and willingness to accept (WTA) question formats. The results show that the WTP for lower risks is lower than the WTA higher risks, and that the disparity between these measures depends on the market segments, the specific climate change risk and the characteristics of the individuals.

Keywords: Bayesian mixture of normal distribution; contingent valuation; climate change; environmental risk; tourists' preferences; WTP and WTA (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:sae:toueco:v:20:y:2014:i:4:p:849-868

DOI: 10.5367/te.2013.0310

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