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Restoring Port Areas for Recreation Purposes: A contingent Valuation Study

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  • Salvador Del Saz-Salazar
  • Leandro García-Menendez

Abstract

In this paper, the Contingent Valuation Method (CVM) is applied in order to measure the social benefits derived from the restoring of some port areas for recreation purposes in the City of CastellÛn (Spain). As the data show a high rate of zero responses we have applied the Spike model, one of the most recent models in CVM literature, since traditional models (Logit and Probit) are not suitable due to the characteristics of our data. The results show that the willingness to pay is significantly correlated to income, age (negatively), the expected use of the new recreation facilities and the subjective value given to the whole project.

Suggested Citation

  • Salvador Del Saz-Salazar & Leandro García-Menendez, 2001. "Restoring Port Areas for Recreation Purposes: A contingent Valuation Study," ERES eres2001_146, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2001_146
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    References listed on IDEAS

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    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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