Singapore botanic gardens (SBG) : total economic value and opportunity cost of conserving SBG
What is the Total Economic Value (TEV) of Singapore Botanic Gardens (SBG)? How does this value compare to the opportunity cost of the land price? In this study, contingent valuation method is carried out using survey questionnaires to elicit willingness to pay (WTP) of respondents. In addition, dire...
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| פורמט: | Final Year Project (FYP) |
| שפה: | English |
| יצא לאור: |
2016
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| נושאים: | |
| גישה מקוונת: | http://hdl.handle.net/10356/66481 |
| _version_ | 1826121215255773184 |
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| author | Ang, Kheng Li Goh, Hui Ru Ng, Li Hao |
| author2 | Chang Youngho |
| author_facet | Chang Youngho Ang, Kheng Li Goh, Hui Ru Ng, Li Hao |
| author_sort | Ang, Kheng Li |
| collection | NTU |
| description | What is the Total Economic Value (TEV) of Singapore Botanic Gardens (SBG)? How does this value compare to the opportunity cost of the land price? In this study, contingent valuation method is carried out using survey questionnaires to elicit willingness to pay (WTP) of respondents. In addition, direct market valuation determines the marketable component of SBG such as direct use value (orchids) and indirect use value (carbon storage of trees). The WTP is further allocated to four non-marketable values consisting of recreational value, option value, existence value and bequest value. The relative importance of the four non-marketable values allows us to gain insights on the public valuation of each value with respect to SBG. Our main findings could be summed up as follows: (1) The opportunity cost is higher than the TEV of SBG. The public do not understand the true value of SBG. (2) Greenery, Garden Quality, Gender, Frequency and Income have a significant correlation with WTP and (3) Bequest and recreational value is of higher importance to an individual compared to option and existence value. |
| first_indexed | 2024-10-01T05:29:03Z |
| format | Final Year Project (FYP) |
| id | ntu-10356/66481 |
| institution | Nanyang Technological University |
| language | English |
| last_indexed | 2024-10-01T05:29:03Z |
| publishDate | 2016 |
| record_format | dspace |
| spelling | ntu-10356/664812019-12-10T14:41:30Z Singapore botanic gardens (SBG) : total economic value and opportunity cost of conserving SBG Ang, Kheng Li Goh, Hui Ru Ng, Li Hao Chang Youngho School of Humanities and Social Sciences DRNTU::Social sciences::Economic theory::Microeconomics What is the Total Economic Value (TEV) of Singapore Botanic Gardens (SBG)? How does this value compare to the opportunity cost of the land price? In this study, contingent valuation method is carried out using survey questionnaires to elicit willingness to pay (WTP) of respondents. In addition, direct market valuation determines the marketable component of SBG such as direct use value (orchids) and indirect use value (carbon storage of trees). The WTP is further allocated to four non-marketable values consisting of recreational value, option value, existence value and bequest value. The relative importance of the four non-marketable values allows us to gain insights on the public valuation of each value with respect to SBG. Our main findings could be summed up as follows: (1) The opportunity cost is higher than the TEV of SBG. The public do not understand the true value of SBG. (2) Greenery, Garden Quality, Gender, Frequency and Income have a significant correlation with WTP and (3) Bequest and recreational value is of higher importance to an individual compared to option and existence value. Bachelor of Arts 2016-04-13T00:51:11Z 2016-04-13T00:51:11Z 2016 Final Year Project (FYP) http://hdl.handle.net/10356/66481 en Nanyang Technological University 73 p. application/pdf |
| spellingShingle | DRNTU::Social sciences::Economic theory::Microeconomics Ang, Kheng Li Goh, Hui Ru Ng, Li Hao Singapore botanic gardens (SBG) : total economic value and opportunity cost of conserving SBG |
| title | Singapore botanic gardens (SBG) : total economic value and opportunity cost of conserving SBG |
| title_full | Singapore botanic gardens (SBG) : total economic value and opportunity cost of conserving SBG |
| title_fullStr | Singapore botanic gardens (SBG) : total economic value and opportunity cost of conserving SBG |
| title_full_unstemmed | Singapore botanic gardens (SBG) : total economic value and opportunity cost of conserving SBG |
| title_short | Singapore botanic gardens (SBG) : total economic value and opportunity cost of conserving SBG |
| title_sort | singapore botanic gardens sbg total economic value and opportunity cost of conserving sbg |
| topic | DRNTU::Social sciences::Economic theory::Microeconomics |
| url | http://hdl.handle.net/10356/66481 |
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