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Determinants of willingness to pay for entrance to urban parks: A quantile regression analysis

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  • Halkos, George
  • Leonti, Aikaterini
  • Sardianou, Eleni

Abstract

Although the willingness to pay for parks and protected areas has been widely researched, the differentiation of determinants within different levels of payment presents significant limitations. Quantile regression, through which this differentiation is detected, has been applied mainly to specific methods of economic valuation (e.g. hedonic), while the contingent valuation method is the most common method of valuing parks. Given this research gap, the present paper applies quantile and multiple regressions to identify the determinants of the “willingness to pay” for entry into urban parks. The contingent valuation method was used for the case studies of two urban parks in Greece. The survey was conducted between July 2018 and March 2019 and the final sample consisted of 761 visitors. The results showed that the cost of the entrance ticket varies according to the park’s attributes. Demographic factors, such as gender, age and income affect willingness to pay. Those who have previously paid for entrance to parks and green spaces are willing to pay more money for their entry. Other factors (e.g. motivation to visit, distance and length of stay in the parks) were also found to have a statistically significant effect on individuals’ decisions.

Suggested Citation

  • Halkos, George & Leonti, Aikaterini & Sardianou, Eleni, 2022. "Determinants of willingness to pay for entrance to urban parks: A quantile regression analysis," Economic Analysis and Policy, Elsevier, vol. 74(C), pages 421-431.
    • Handle: RePEc:eee:ecanpo:v:74:y:2022:i:c:p:421-431
    DOI: 10.1016/j.eap.2022.03.013
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    References listed on IDEAS

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    4. Boyd D. Blackwell & John Asafu-Adjaye, 2020. "Adding Jewels To The Crown: The Marginal Recreational Value Of Noosa National Park And Implications For User Fees," Discussion Papers Series 622, School of Economics, University of Queensland, Australia.
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    6. Halkos, George E., 2011. "Nonparametric modelling of biodiversity: Determinants of threatened species," Journal of Policy Modeling, Elsevier, vol. 33(4), pages 618-635, July.
    7. Togridou, Anatoli & Hovardas, Tasos & Pantis, John D., 2006. "Determinants of visitors' willingness to pay for the National Marine Park of Zakynthos, Greece," Ecological Economics, Elsevier, vol. 60(1), pages 308-319, November.
    8. Liao, Wen-Chi & Wang, Xizhu, 2012. "Hedonic house prices and spatial quantile regression," Journal of Housing Economics, Elsevier, vol. 21(1), pages 16-27.
    9. George Halkos & Aikaterini Leonti & Eleni Sardianou, 2020. "Assessing the Preservation of Parks and Natural Protected Areas: A Review of Contingent Valuation Studies," Sustainability, MDPI, vol. 12(11), pages 1-24, June.
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    Cited by:

    1. Casola, William R. & Peterson, M. Nils & Pacifici, Krishna & Sills, Erin O. & Moorman, Christopher E., 2023. "Conservation motivations and willingness to pay for wildlife management areas among recreational user groups," Land Use Policy, Elsevier, vol. 132(C).
    2. Elli Papastergiou & Dionysis Latinopoulos & Myrto Evdou & Athanasios Kalogeresis, 2023. "Exploring Associations between Subjective Well-Being and Non-Market Values When Used in the Evaluation of Urban Green Spaces: A Scoping Review," Land, MDPI, vol. 12(3), pages 1-31, March.
    3. Wei, Di & Wang, Yuan & Jiang, Yuxiao & Guan, Xueqing & Lu, Yi, 2024. "Deciphering the effect of user-generated content on park visitation: A comparative study of nine Chinese cities in the Pearl River Delta," Land Use Policy, Elsevier, vol. 144(C).

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    More about this item

    Keywords

    Urban parks; CVM; WTP; Quantile regression; OLS; Greece;
    All these keywords.

    JEL classification:

    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q26 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Recreational Aspects of Natural Resources
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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