Willingness to Pay for Submerged Maritime Cultural Resources
Many 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
Volume (Year): 27 (2003)
Issue (Month): 3 (November)
|Contact details of provider:|| Web page: http://www.springer.com|
Web page: http://www.culturaleconomics.org/
More information through EDIRC
|Order Information:||Web: http://www.springer.com/economics/journal/10824/PS2|
References listed on IDEAS
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.:
- 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.
- 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.
- 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.
- 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.
- Richard T. Carson, 2011.
Edward Elgar Publishing, number 2489, March.
- 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.
- Herriges, Joseph A. & Shogren, Jason F., 1996.
"Starting Point Bias in Dichotomous Choice Valuation with Follow-Up Questioning,"
Staff General Research Papers Archive
1501, Iowa State University, Department of Economics.
- 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.
- 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.
When requesting a correction, please mention this item's handle: RePEc:kap:jculte:v:27:y:2003:i:3:p:231-240. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla)or (Rebekah McClure)
If references are entirely missing, you can add them using this form.