Willingness to Pay for Submerged Maritime Cultural Resources
AbstractMany consider salvage value and tourism expenditures as the only economic values of a historic shipwreck. This paper looks at one alternative, the non-market value generated by management of shipwrecks as submerged maritime cultural resources. We consider the question: How much are people willing to pay to maintain shipwrecks in their pristine state? The contingent valuation method was implemented during summer 2001 as part of a telephone survey to households in eastern North Carolina. We find that households are willing to pay about $35 in a one-time increase in state taxes. Willingness to payis internally validated by expected relationships with prices and income but fails to pass the scope test. We speculate that we inadvertently succumbed to the well-known “birds” problem. The double-bounded willingness to pay questions are not incentive compatible and are subject to starting point bias, despite efforts to minimize these effects. Copyright Kluwer Academic Publishers 2003
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Springer in its journal Journal of Cultural Economics.
Volume (Year): 27 (2003)
Issue (Month): 3 (November)
Contact details of provider:
Web page: http://www.springerlink.com/link.asp?id=100284
historic shipwreck; incentive incompatibility; starting point bias; willingness to pay;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Herriges, Joseph A. & Shogren, Jason F., 1996.
"Starting Point Bias in Dichotomous Choice Valuation with Follow-Up Questioning,"
Journal of Environmental Economics and Management,
Elsevier, vol. 30(1), pages 112-131, January.
- Herriges, Joseph A. & Shogren, Jason F., 1996. "Starting Point Bias in Dichotomous Choice Valuation with Follow-Up Questioning," Staff General Research Papers 1501, Iowa State University, Department of Economics.
- John C. Whitehead & Timothy Haab & Ju-Chin Huang, .
"Part-Whole Bias in Contingent Valuation: Will Scope Effects Be Detected with Inexpensive Survey Methods?,"
9707, East Carolina University, Department of Economics.
- John C. Whitehead & Timothy C. Haab & Ju-Chin Huang, 1998. "Part-Whole Bias in Contingent Valuation: Will Scope Effects Be Detected with Inexpensive Survey Methods?," Southern Economic Journal, Southern Economic Association, vol. 65(1), pages 160-168, July.
- Boyle Kevin J. & Desvousges William H. & Johnson F. Reed & Dunford Richard W. & Hudson Sara P., 1994. "An Investigation of Part-Whole Biases in Contingent-Valuation Studies," Journal of Environmental Economics and Management, Elsevier, vol. 27(1), pages 64-83, July.
- Carson, Richard T. & Hanemann, W. Michael, 2006. "Contingent Valuation," Handbook of Environmental Economics, in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 2, chapter 17, pages 821-936 Elsevier.
- Huang, Ju-Chin & Haab, Timothy C. & Whitehead, John C., 1997. "Willingness to Pay for Quality Improvements: Should Revealed and Stated Preference Data Be Combined?," Journal of Environmental Economics and Management, Elsevier, vol. 34(3), pages 240-255, November.
- W. Michael Hanemann, 1994. "Valuing the Environment through Contingent Valuation," Journal of Economic Perspectives, American Economic Association, vol. 8(4), pages 19-43, Fall.
- Trudy Ann Cameron & Michelle D. James, 1986.
"Efficient Estimation Methods for "Closed-Ended" Contingent Valuation Surveys,"
UCLA Economics Working Papers
404, UCLA Department of Economics.
- Cameron, Trudy Ann & James, Michelle D, 1987. "Efficient Estimation Methods for "Closed-ended' Contingent Valuation Surveys," The Review of Economics and Statistics, MIT Press, vol. 69(2), pages 269-76, May.
- Peter A. Diamond & Jerry A. Hausman, 1994. "Contingent Valuation: Is Some Number Better than No Number?," Journal of Economic Perspectives, American Economic Association, vol. 8(4), pages 45-64, Fall.
- Patrizia Riganti & Anna Alberini & Alberto Longo, 2005. "Public Preferences for Land uses’ changes - valuing urban regeneration projects at the Venice Arsenale," ERSA conference papers ersa05p756, European Regional Science Association.
- Anna Alberini & Alberto Longo & Patrizia Riganti, 2006. "Using Surveys to Compare the Public’s and Decisionmakers’ Preferences for Urban Regeneration: The Venice Arsenale," Working Papers 2006.137, Fondazione Eni Enrico Mattei.
- Moro, Mirko & Mayor, Karen & Lyons, Seán & Tol, Richard S. J., 2011.
"Does the housing market reflect cultural heritage? A case study of Greater Dublin,"
WP386, Economic and Social Research Institute (ESRI).
- Lyons, Sean & Mayor, Karen & Moro, Mirko & Tol, Richard S J, 2011. "Does the housing market reflect cultural heritage? A case study of Greater Dublin," Stirling Economics Discussion Papers 2011-07, University of Stirling, Division of Economics.
- Morgan, O. Ashton & Huth, William L., 2011. "Using revealed and stated preference data to estimate the scope and access benefits associated with cave diving," Resource and Energy Economics, Elsevier, vol. 33(1), pages 107-118, January.
- Jaap Boter & Jan Rouwendal & Michel Wedel, 2005. "Employing Travel Time to Compare the Value of Competing Cultural Organizations," Journal of Cultural Economics, Springer, vol. 29(1), pages 19-33, February.
- Paul McNamee & Laura Ternent & Adjima Gbangou & David Newlands, 2010. "A game of two halves? Incentive incompatibility, starting point bias and the bidding game contingent valuation method," Health Economics, John Wiley & Sons, Ltd., vol. 19(1), pages 75-87.
- J. Snowball, 2005. "Art for the Masses? Justification for the Public Support of the Arts in Developing Countries – Two Arts Festivals in South Africa," Journal of Cultural Economics, Springer, vol. 29(2), pages 107-125, May.
- Huth, William L. & Morgan, O. Ashton, 2011. "Measuring the Willingness to Pay for Cave Diving," Marine Resource Economics, Marine Resources Foundation, vol. 26(2).
- Douglas Noonan & Douglas Krupka, 2010.
"Determinants of historic and cultural landmark designation: why we preserve what we preserve,"
Journal of Cultural Economics,
Springer, vol. 34(1), pages 1-26, February.
- Noonan, Douglas S. & Krupka, Douglas J., 2008. "Determinants of Historic and Cultural Landmark Designation: Why We Preserve What We Preserve," IZA Discussion Papers 3777, Institute for the Study of Labor (IZA).
- Pek, Chuen-Khee & Tee, Chee-Hoong & Ng, Phuay-Ying, 2010. "A Contingent Valuation Estimation of Hill Recreational and Services Values in Malaysia," MPRA Paper 23125, University Library of Munich, Germany.
- Boter, Jaap & Rouwendal, Jan & Wedel, Michel, 2004. "Employing Travel Costs to Compare the Use Value of Competing Cultural Organizations," Serie Research Memoranda 0011, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn) or (Christopher F. Baum).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.