Estimating the Preservation Value of Lilium ledebourii Using Single Bounded Dichotomous Choice Contingent Valuation Method

Document Type : Research Article

Authors

• M. Molaei ¹
• M. Kavoosi Kalashami ²

¹ Department of Agricultural Economics, Faculty of Agriculture, University of Urmia, Iran

² Agricultural Economics, College of Agriculture and Natural Resources, University of Tehran, Iran

10.22067/jead2.v1390i3.10820

Abstract

Abstract
Researches of preservation valuation of natural resources and environment were done in order to create necessary awareness for making optimal decisions in the field of the ways of economic management of these resources and helping to establish sustainable regional development strategy. In this study, preservation value of Lilium ledebourii estimated using single bounded dichotomous choice contingent valuation method. Required data were obtained through face to face survey and gathered from 177 respondents. Results showed that respondent’s willingness to pay is equal to 6540.33 Rials annually using linear functional form and 9675.22 Rials annually for logarithmic functional form. Also, comparing confidence intervals of estimated willingness to pays showed that the estimated WTP using linear model is more precise. Present study can provide proper framework for precise estimation of preservation value through applying different functional forms and precise estimation of WTP, so the estimated WTP shows the importance of preservation of distinct plant varieties. It’s proposed that economic researchers to calculate the level of the significance of WTP in addition to using several functional forms in contingent valuation method. Also, it is proposed to policymakers that it is necessary to pay attention to society’s participation in preserving environment in addition to annual government budget.

Keywords: Contingent Valuation, Logit Model, Willingness to Pay, Lilium ledebourii

20.1001.1.20084722.1390.25.3.6.0

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