Valuing the willingness to pay for heritage institutions in Singapore
This study estimates the individual willingness to pay (WTP) and the total economic value (TEV) of six national museums of Singapore: the National Museum of Singapore, the Asian Civilization Museum, the Peranakan Museum, the Malay Heritage Center, the Indian Heritage Center, and the Sun Yat Sen Nany...
| Main Authors: | , , |
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| Format: | Final Year Project (FYP) |
| Language: | English |
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Nanyang Technological University
2023
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| Online Access: | https://hdl.handle.net/10356/166359 |
| _version_ | 1826124979668779008 |
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| author | Lui, Yu Sen Mei, Juntao Lim, Kit Yee |
| author2 | Tang Cheng Keat |
| author_facet | Tang Cheng Keat Lui, Yu Sen Mei, Juntao Lim, Kit Yee |
| author_sort | Lui, Yu Sen |
| collection | NTU |
| description | This study estimates the individual willingness to pay (WTP) and the total economic value (TEV) of six national museums of Singapore: the National Museum of Singapore, the Asian Civilization Museum, the Peranakan Museum, the Malay Heritage Center, the Indian Heritage Center, and the Sun Yat Sen Nanyang Memorial Hall. We collect our data by a survey with 338 samples. Our survey design employs the contingent valuation method (CVM), particularly Double Bounded Dichotomous Choice approach while we estimate the WTP with both parametric and nonparametric method. The TEV’s are estimated by the approach of Chay & Greenstone (2005). Additionally, we analyse the determinants of WTP of each museum, providing policy makers with insights to make differentiated policies targeting population with different sociodemographic background and different museum. We also contribute to the literature concerning protest zeros by examining potential causes of protest zeros with our data. |
| first_indexed | 2024-10-01T06:29:15Z |
| format | Final Year Project (FYP) |
| id | ntu-10356/166359 |
| institution | Nanyang Technological University |
| language | English |
| last_indexed | 2024-10-01T06:29:15Z |
| publishDate | 2023 |
| publisher | Nanyang Technological University |
| record_format | dspace |
| spelling | ntu-10356/1663592023-04-30T15:31:59Z Valuing the willingness to pay for heritage institutions in Singapore Lui, Yu Sen Mei, Juntao Lim, Kit Yee Tang Cheng Keat School of Social Sciences National Heritage Board c.k.tang@ntu.edu.sg Social sciences::Economic theory::Microeconomics This study estimates the individual willingness to pay (WTP) and the total economic value (TEV) of six national museums of Singapore: the National Museum of Singapore, the Asian Civilization Museum, the Peranakan Museum, the Malay Heritage Center, the Indian Heritage Center, and the Sun Yat Sen Nanyang Memorial Hall. We collect our data by a survey with 338 samples. Our survey design employs the contingent valuation method (CVM), particularly Double Bounded Dichotomous Choice approach while we estimate the WTP with both parametric and nonparametric method. The TEV’s are estimated by the approach of Chay & Greenstone (2005). Additionally, we analyse the determinants of WTP of each museum, providing policy makers with insights to make differentiated policies targeting population with different sociodemographic background and different museum. We also contribute to the literature concerning protest zeros by examining potential causes of protest zeros with our data. Bachelor of Social Sciences in Economics 2023-04-25T06:10:45Z 2023-04-25T06:10:45Z 2023 Final Year Project (FYP) Lui, Y. S., Mei, J. & Lim, K. Y. (2023). Valuing the willingness to pay for heritage institutions in Singapore. Final Year Project (FYP), Nanyang Technological University, Singapore. https://hdl.handle.net/10356/166359 https://hdl.handle.net/10356/166359 en HE1AY2223_16 application/pdf Nanyang Technological University |
| spellingShingle | Social sciences::Economic theory::Microeconomics Lui, Yu Sen Mei, Juntao Lim, Kit Yee Valuing the willingness to pay for heritage institutions in Singapore |
| title | Valuing the willingness to pay for heritage institutions in Singapore |
| title_full | Valuing the willingness to pay for heritage institutions in Singapore |
| title_fullStr | Valuing the willingness to pay for heritage institutions in Singapore |
| title_full_unstemmed | Valuing the willingness to pay for heritage institutions in Singapore |
| title_short | Valuing the willingness to pay for heritage institutions in Singapore |
| title_sort | valuing the willingness to pay for heritage institutions in singapore |
| topic | Social sciences::Economic theory::Microeconomics |
| url | https://hdl.handle.net/10356/166359 |
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