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Economic Valuation of Green Island, Taiwan: A Choice Experiment Method

Author

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  • Han-Shen Chen

    (Department of Health Diet and Industry Management, Chung Shan Medical University, No. 110, Sec. 1, Jianguo N. Rd., Taichung City 40201, Taiwan
    Department of Medical Management, Chung Shan Medical University Hospital, No. 110, Sec. 1, Jianguo N. Rd., Taichung City 40201, Taiwan)

  • Chu-Wei Chen

    (Department of Applied Economics, National Chung Hsing University, No. 250, Kuo Kuang Rd., Taichung 40227, Taiwan)

Abstract

The evaluation of ecological security and ecosystem services is now a core issue in the field of natural and environmental resources. Quantifying the economic value of island ecosystem services can inform policy decisions that affect the island and help justify expenditures on ecosystem service improvements. This study investigates the preferences of residents and tourists regarding Green Island and estimates willingness-to-pay (WTP) values for island ecosystem services using a choice experiment. The results indicate significant differences between the preferences of residents and tourists regarding island environmental resources. Therefore, based on the multiple attributes and ecosystem services, this study formulated three assessment schemes: “environmental protection”, “recreational development”, and “integrated operation and management”. Based on our analysis of the problems reflected in the aforementioned valuation models, we recommend that policy makers refer to environmental attribute preferences to create statements or advertisements targeting relevant audiences when planning island development. This paper contributes to the literature by demonstrating how the economic valuation of island ecosystem services can help design and target island conservation policies in order to maximize welfare.

Suggested Citation

  • Han-Shen Chen & Chu-Wei Chen, 2019. "Economic Valuation of Green Island, Taiwan: A Choice Experiment Method," Sustainability, MDPI, vol. 11(2), pages 1-17, January.
    • Handle: RePEc:gam:jsusta:v:11:y:2019:i:2:p:403-:d:197685
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    2. Mzek, Tareq & Samdin, Zaiton & W. Mohamad, Wan Norhidayah, 2022. "Assessing visitors' preferences and willingness to pay for the Malayan Tiger conservation in a Malaysian National Park: A choice experiment method," Ecological Economics, Elsevier, vol. 191(C).
    3. Sinclair, Michael & Vishnu Sagar, M.K. & Knudsen, Camilla & Sabu, Joseph & Ghermandi, Andrea, 2021. "Economic appraisal of ecosystem services and restoration scenarios in a tropical coastal Ramsar wetland in India," Ecosystem Services, Elsevier, vol. 47(C).
    4. Hye-Min Kim & In-Gyum Kim & Byunghwan Lim & Seung-Hoon Yoo, 2021. "Estimating the Economic Value of Improving the Asian Dust Aerosol Model in the Korean Household Sector: A Choice Experiment," Sustainability, MDPI, vol. 13(21), pages 1-11, November.

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