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Determinants of visitors’ willingness to pay for natural resources. Case study of lagoon and sandy area of Valdoviño

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  • Félix Massa, Teba

Abstract

The contingent valuation method (CVM) is based on the construction of hypothetical markets through a survey where respondents are usually asked for their maximum willingness to pay (WTP) for a certain property that lacks market appeal and therefore of price.The main aim of the study is to identify and explain the variables that occur and condition tourists to pay to enjoy one of the main elements of the natural heritage areas within Galicia including, the coastal lagoon and sandy area of Valdoviño. The information obtained from this study would be very useful in developing a cost-benefit analysis that could be used to inform political decisions that affect the management of these natural resource.

Suggested Citation

  • Félix Massa, Teba, 2019. "Determinants of visitors’ willingness to pay for natural resources. Case study of lagoon and sandy area of Valdoviño," Revista Galega de Economía, University of Santiago de Compostela. Faculty of Economics and Business., vol. 28(3), pages 115-135.
    • Handle: RePEc:sdo:regaec:v:28:y:2019:i:3_7
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