Estimating Willingness to Pay for a Future Recreational Park Atop the Current Jakuševec Landfill in Zagreb, Croatia

Marija Opačak and Erda Wang
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Marija Opačak: Institute of Tourism and Environment Management, School of Economics and Management, Dalian University of Technology, Dalian 116023, Liaoning, China
Erda Wang: Institute of Tourism and Environment Management, School of Economics and Management, Dalian University of Technology, Dalian 116023, Liaoning, China

Sustainability, 2019, vol. 11, issue 21, 1-16

Abstract: The main purpose of this study is to investigate the economic value potentially accrued by a prospective city park, which is planned to be built as a result of strategic land reclamation of a current landfill in Croatia, based on parkgoers’ marginal willingness to pay. The idea of this land transformation is inspired by recent debate on the issue of how to address air quality and other environmental concerns over the disposal of the landfill site in the city. Like any other nonmarket valuation studies, choosing a proper survey method is a critical step for a successful economic valuation study. We adopted a double bounded dichotomous choice contingent valuation method in survey design and data collection, followed by parameter estimation using the logit model. The study reveals—(1) the support of 70% of respondents was estimated; (2) as much as 96% of the respondents are willing to visit the park being presented to the respondents along with the survey questionnaire. The economic valuation indicates that the city residents are willing to pay €3.63 per person for the park’s entrance fees, which can be translated into an aggregate of €2,867,762. By referring this value information to the park budget, we may persuade policy makers to commit to a transformation of the current landfill.

Keywords: contingent valuation method; double bounded dichotomous choice; willingness to pay; prospective city park; landfill (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 (5)

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