Estimating the Preservation Value of Wuyishan National Park from the Perspective of Bounded Rational Decision Making

Chang Liu, Mingshui Lin, Xinhua Qi and Wenjuan Zheng
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Chang Liu: College of Tourism, Fujian Normal University, Fuzhou 350117, China
Mingshui Lin: College of Tourism, Fujian Normal University, Fuzhou 350117, China
Xinhua Qi: School of Geographical Sciences, Fujian Normal University, Fuzhou 350117, China
Wenjuan Zheng: College of Tourism, Fujian Normal University, Fuzhou 350117, China

Sustainability, 2021, vol. 13, issue 13, 1-15

Abstract: Simplifying and popularizing the preservation values (valuation methods) of national parks—based on the premise of accuracy—shows stakeholders the importance of national parks, and is the basis for exploring sustainable use and development mechanisms. However, there are hypotheses biases, strategic biases, and starting point biases in regards to the existing evaluation methods. Therefore, based on the results of the contingent valuation method of research, under bounded rationality, this study uses the two-stage dichotomous choice contingent valuation and selects three methods to estimate the willingness to pay (WTP) for preservation at Wuyishan National Park. The results support that the two-stage contingent valuation method could effectively evade uncertainty with a “willingness to pay” decision making under bounded rationality, and factually reflect the real WTP. The results show that: (1) the average willingness to pay (truncated) of each household in Wuyishan National Park is CNY 609 (USD 93.90), which is similar to the actual average tourism expenditure of each household. (2) The cultural worldviews and perceived restorative environment have significant impacts on willingness to pay. (3) Comparing the preservation value of Wuyishan National Park with the actual financial input plays a positive role in manifesting the importance of Wuyishan National Park and attracting more financial input. The preservation value of Wuyishan National Park in the key market is about six times that of the basic market and one-third of that in the national market, which provides a theoretical basis for selecting the key tourism development market of Wuyishan National Park. (4) Those respondents believe that more funds should be put into protecting the national parks for their sustainable existence and bequeathing to future generations, which shows that the construction of the national park system is significant in improving natural values. This study attempted to provide theoretical support for improving non-market value and sustainable development of national parks.

Keywords: DC-CVM; willingness to pay; preservation value; Wuyishan national park; China (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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