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A Contingent Valuation Estimation of Hill Recreational and Services Values in Malaysia

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  • Pek, Chuen-Khee
  • Tee, Chee-Hoong
  • Ng, Phuay-Ying

Abstract

This study estimates the economic values of household preference for preservation and conservation of hill recreational and services values in Malaysia. The Contingent Valuation technique is employed on 100 randomly selected households in the vicinities of Taman Melawati Hill. The study finds that hill preservation is important and the public is willing to pay for initiatives to mitigate further degradation to this ecosystem. More specifically, the study ascertains that households on average are willing to donate MYR92.40 per annum to the trust fund for hill mitigation management initiatives. This value conveys a total economic value of MYR51.6 million per annum, based on the Selangor state population who are willing to pay for the mitigation cause. This substantial value can help policy makers to identify any mismatch between what the public actually demands and are wiling to pay for and the degradation to the supply due to modern developments.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 23125.

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Date of creation: 18 May 2010
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Handle: RePEc:pra:mprapa:23125

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Keywords: willingness-to-pay; hill recreational and services values; contingent valuation;

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  1. 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.
  2. Sattout, E.J. & Talhouk, S.N. & Caligari, P.D.S., 2007. "Economic value of cedar relics in Lebanon: An application of contingent valuation method for conservation," Ecological Economics, Elsevier, vol. 61(2-3), pages 315-322, March.
  3. Othman, Jamal & Bennett, Jeff & Blamey, Russell, 2004. "Environmental values and resource management options: a choice modelling experience in Malaysia," Environment and Development Economics, Cambridge University Press, vol. 9(06), pages 803-824, December.
  4. Lee, Choong-Ki & W. Mjelde, James, 2007. "Valuation of ecotourism resources using a contingent valuation method: The case of the Korean DMZ," Ecological Economics, Elsevier, vol. 63(2-3), pages 511-520, August.
  5. John List & Craig Gallet, 2001. "What Experimental Protocol Influence Disparities Between Actual and Hypothetical Stated Values?," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 20(3), pages 241-254, November.
  6. Yoo, Seung-Hoon & Kwak, So-Yoon, 2009. "Willingness to pay for green electricity in Korea: A contingent valuation study," Energy Policy, Elsevier, vol. 37(12), pages 5408-5416, December.
  7. Adams, Cristina & Seroa da Motta, Ronaldo & Ortiz, Ramón Arigoni & Reid, John & Ebersbach Aznar, Cristina & de Almeida Sinisgalli, Paulo Antonio, 2008. "The use of contingent valuation for evaluating protected areas in the developing world: Economic valuation of Morro do Diabo State Park, Atlantic Rainforest, São Paulo State (Brazil)," Ecological Economics, Elsevier, vol. 66(2-3), pages 359-370, June.
  8. Catherine M. Chambers & Paul E. Chambers & John C. Whitehead, . "Contingent Valuation of Quasi-Public Goods: Validity, Reliability, and Application to Valuing a Historic Site," Working Papers 9614, East Carolina University, Department of Economics.
  9. Kevin J. Boyle & F. Reed Johnson & Daniel W. McCollum & William H. Desvousges & Richard W. Dunford & Sara P. Hudson, 1996. "Valuing Public Goods: Discrete versus Continuous Contingent-Valuation Responses," Land Economics, University of Wisconsin Press, vol. 72(3), pages 381-396.
  10. John Whitehead & Suzanne Finney, 2003. "Willingness to Pay for Submerged Maritime Cultural Resources," Journal of Cultural Economics, Springer, vol. 27(3), pages 231-240, November.
  11. 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.
  12. Amirnejad, Hamid & Khalilian, Sadegh & Assareh, Mohammad H. & Ahmadian, Majid, 2006. "Estimating the existence value of north forests of Iran by using a contingent valuation method," Ecological Economics, Elsevier, vol. 58(4), pages 665-675, July.
  13. Richard O‘Conor & Magnus Johannesson & Per-Olov Johansson, 1999. "Stated Preferences, Real Behaviour and Anchoring: Some Empirical Evidence," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 13(2), pages 235-248, March.
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