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Ex ante and ex post valuations of a cultural good. Are preferences or expectations changing?

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  • Ana Mar�a Bedate
  • Luis C�sar Herrero
  • Jos� Ángel Sanz

Abstract

In recent years valuations of cultural goods and services have been undertaken using the contingent valuation method, because of its flexibility and the advantages it affords over other methods of valuing non-market goods. Yet, in contingent valuation literature few studies have addressed the reliability of the outcomes. This is the goal of the current paper, which presents the results of anapplication of the contingent valuation method to a new museum of contemporary art (Museo Patio Herreriano de Arte Contemporáneo [Spanish Contemporary Art Museum] in Valladolid, Spain). The method was applied at two different times: prior to its opening and after some years. We thus aim to contrast the evolution of preferences and willingness to pay (WTP) estimates at different points in time using bootstrap techniques. Estimations were performed using non-parametric methods and the outcomes reflect stability for valuations made by visitors to the museum but not for the valuations given by residents of Valladolid.

Suggested Citation

  • Ana Mar�a Bedate & Luis C�sar Herrero & Jos� Ángel Sanz, 2012. "Ex ante and ex post valuations of a cultural good. Are preferences or expectations changing?," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 55(1), pages 127-140, April.
    • Handle: RePEc:taf:jenpmg:v:55:y:2012:i:1:p:127-140
    DOI: 10.1080/09640568.2011.583079
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    References listed on IDEAS

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    1. Timothy C. Haab & Kenneth E. McConnell, 2002. "Valuing Environmental and Natural Resources," Books, Edward Elgar Publishing, number 2427.
    2. Ian J. Bateman & Richard T. Carson & Brett Day & Michael Hanemann & Nick Hanley & Tannis Hett & Michael Jones-Lee & Graham Loomes, 2002. "Economic Valuation with Stated Preference Techniques," Books, Edward Elgar Publishing, number 2639.
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    Cited by:

    1. Farr, Marina & Stoeckl, Natalie, 2018. "Overoptimism and the undervaluation of ecosystem services: A case-study of recreational fishing in Townsville, adjacent to the Great Barrier Reef," Ecosystem Services, Elsevier, vol. 31(PC), pages 433-444.
    2. Andrea Báez-Montenegro & Ana Bedate Centeno & José à ngel Sanz Lara & Luis Cesar Herrero Prieto, 2016. "Contingent valuation and motivation analysis of tourist routes," Tourism Economics, , vol. 22(3), pages 558-571, June.
    3. Carlos Jurado-Rivas & Marcelino Sánchez-Rivero, 2019. "Willingness to Pay for More Sustainable Tourism Destinations in World Heritage Cities: The Case of Caceres, Spain," Sustainability, MDPI, vol. 11(21), pages 1-21, October.

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