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Research on Willingness-to-Pay for the Protection of Cultural Heritage (the case of Bulgarian monasteries)

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  • Alexy Danchev

Abstract

The paper represents the basic results of the analysis of Willingness-To-Pay (WTP) for protection of Bulgarian monasteries as a part of the cultural heritage. The basic model for analysis of the problem is constructed on estimating general economic value and its attributes. Tobit model is used as the data are censored. The expected biases are analyzed too with indication of the possible reasons. The results indicate that despite the chronically low income the Bulgarian citizens value the importance of the monasteries as public goods. This WTP is sufficiently high to be accepted as indicative for the economic relevance of providing conservation works for protection of the monasteries.

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Bibliographic Info

Article provided by Bulgarian Academy of Sciences - Economic Research Institute in its journal Economic Thought.

Volume (Year): (2005)
Issue (Month): 2 ()
Pages: 46-62

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Handle: RePEc:bas:econth:y:2005:i:2:p:46-62

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  1. Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 74, pages 132.
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