Determinants of willingness to pay for entrance to urban parks: A quantile regression analysis

George Halkos, Aikaterini Leonti and Eleni Sardianou ()

Economic Analysis and Policy, 2022, vol. 74, issue C, 421-431

Abstract: Although the willingness to pay for parks and protected areas has been widely researched, the differentiation of determinants within different levels of payment presents significant limitations. Quantile regression, through which this differentiation is detected, has been applied mainly to specific methods of economic valuation (e.g. hedonic), while the contingent valuation method is the most common method of valuing parks. Given this research gap, the present paper applies quantile and multiple regressions to identify the determinants of the “willingness to pay” for entry into urban parks. The contingent valuation method was used for the case studies of two urban parks in Greece. The survey was conducted between July 2018 and March 2019 and the final sample consisted of 761 visitors. The results showed that the cost of the entrance ticket varies according to the park’s attributes. Demographic factors, such as gender, age and income affect willingness to pay. Those who have previously paid for entrance to parks and green spaces are willing to pay more money for their entry. Other factors (e.g. motivation to visit, distance and length of stay in the parks) were also found to have a statistically significant effect on individuals’ decisions.

Keywords: Urban parks; CVM; WTP; Quantile regression; OLS; Greece (search for similar items in EconPapers)
JEL-codes: Q01 Q26 Q51 Q58 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecanpo:v:74:y:2022:i:c:p:421-431

DOI: 10.1016/j.eap.2022.03.013

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