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Implicit prices for longer temporary exhibitions in a heritage site and a test of preference heterogeneity: A segmentation-based approach

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  • Choi, Andy S.

Abstract

This paper examines whether or not people with different characteristics have significantly different nonmarket preferences for longer temporary exhibitions in a cultural heritage site, using a choice modelling study. In order to perform the examination, several methods to calculate confidence intervals (the bootstrap, jackknife, Krinsky and Robb, and Delta methods), and a convolutions approach are adapted. A sample is segmented into relatively homogeneous subgroups according to their sociodemographic or attitudinal characteristics. The results from a case study show that (1) the implicit price for longer exhibitions by one month is AU$5.01 per household; (2) sociodemographic and attitudinal characteristics as segmentation criteria do not cause significantly different implicit prices; and (3) different methods of testing the relationship between mean WTP estimates did not lead to different conclusions.

Suggested Citation

  • Choi, Andy S., 2011. "Implicit prices for longer temporary exhibitions in a heritage site and a test of preference heterogeneity: A segmentation-based approach," Tourism Management, Elsevier, vol. 32(3), pages 511-519.
    • Handle: RePEc:eee:touman:v:32:y:2011:i:3:p:511-519
    DOI: 10.1016/j.tourman.2010.04.002
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    Citations

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    Cited by:

    1. Victoria Ateca Amestoy, 2013. "Demand for cultural heritage," Chapters, in: Ilde Rizzo & Anna Mignosa (ed.), Handbook on the Economics of Cultural Heritage, chapter 4, pages i-i, Edward Elgar Publishing.
    2. Choi, Andy S., 2013. "Nonmarket values of major resources in the Korean DMZ areas: A test of distance decay," Ecological Economics, Elsevier, vol. 88(C), pages 97-107.
    3. Leask, Anna, 2016. "Visitor attraction management: A critical review of research 2009–2014," Tourism Management, Elsevier, vol. 57(C), pages 334-361.
    4. Choi, Andy S. & Fielding, Kelly S., 2013. "Environmental attitudes as WTP predictors: A case study involving endangered species," Ecological Economics, Elsevier, vol. 89(C), pages 24-32.
    5. Halkos, George & Matsiori, Steriani, 2018. "Environmental attitudes and preferences for coastal zone improvements," Economic Analysis and Policy, Elsevier, vol. 58(C), pages 153-166.
    6. Andy S. Choi & Kelly S. Fielding, 2016. "Cultural Attitudes as WTP Determinants: A Revised Cultural Worldview Scale," Sustainability, MDPI, vol. 8(6), pages 1-18, June.
    7. Halkos, George & Matsiori, Steriani, 2017. "Estimating recreational values of coastal zones," MPRA Paper 80911, University Library of Munich, Germany.

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    More about this item

    Keywords

    Choice modelling; Preference heterogeneity; Test of difference; Confidence intervals; Convolutions approach; Segmentation;
    All these keywords.

    JEL classification:

    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation

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