Willingness to pay for recreational attributes of public parks: A choice experiment approach
The choice to visit a park depends on individual preferences and understanding these preferences will be useful to parks' management decisions on facilities and infrastructure needs and maintenance.Choice experiment (CE) method is used to inform parks' management in Kuala Lumpur City, Mala...
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| Format: | Article |
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World Scientific Publishing Company
2015
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| _version_ | 1803627221174190080 |
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| author | Hasan Basri, Bakti Abd Karim, Mohd Zaini Bakar, Normizan |
| author_facet | Hasan Basri, Bakti Abd Karim, Mohd Zaini Bakar, Normizan |
| author_sort | Hasan Basri, Bakti |
| collection | UUM |
| description | The choice to visit a park depends on individual preferences and understanding these preferences will be useful to parks' management decisions on facilities and infrastructure needs and maintenance.Choice experiment (CE) method is used to inform parks' management in Kuala Lumpur City, Malaysia on the social values of attributes available at the park.The latent class (LC) model is used to explore the effect of taste heterogeneity on the attributes.The results in the LC models indicate that the most preferred attribute at parks in Kuala Lumpur is recreational facilities. The willingness to pay (WTP) for these facilities range from RM3.25 to RM39.96.This shows that individuals can afford to pay up to RM40.00 per visit for such improvement in the attributes. |
| first_indexed | 2024-07-04T06:02:37Z |
| format | Article |
| id | uum-16582 |
| institution | Universiti Utara Malaysia |
| last_indexed | 2024-07-04T06:02:37Z |
| publishDate | 2015 |
| publisher | World Scientific Publishing Company |
| record_format | dspace |
| spelling | uum-165822015-12-21T00:45:42Z https://repo.uum.edu.my/id/eprint/16582/ Willingness to pay for recreational attributes of public parks: A choice experiment approach Hasan Basri, Bakti Abd Karim, Mohd Zaini Bakar, Normizan HC Economic History and Conditions The choice to visit a park depends on individual preferences and understanding these preferences will be useful to parks' management decisions on facilities and infrastructure needs and maintenance.Choice experiment (CE) method is used to inform parks' management in Kuala Lumpur City, Malaysia on the social values of attributes available at the park.The latent class (LC) model is used to explore the effect of taste heterogeneity on the attributes.The results in the LC models indicate that the most preferred attribute at parks in Kuala Lumpur is recreational facilities. The willingness to pay (WTP) for these facilities range from RM3.25 to RM39.96.This shows that individuals can afford to pay up to RM40.00 per visit for such improvement in the attributes. World Scientific Publishing Company 2015-09-01 Article PeerReviewed Hasan Basri, Bakti and Abd Karim, Mohd Zaini and Bakar, Normizan (2015) Willingness to pay for recreational attributes of public parks: A choice experiment approach. The Singapore Economic Review. ISSN 0217-5908 http://doi.org/10.1142/S0217590815500484 doi:10.1142/S0217590815500484 doi:10.1142/S0217590815500484 |
| spellingShingle | HC Economic History and Conditions Hasan Basri, Bakti Abd Karim, Mohd Zaini Bakar, Normizan Willingness to pay for recreational attributes of public parks: A choice experiment approach |
| title | Willingness to pay for recreational attributes of public parks: A choice experiment approach |
| title_full | Willingness to pay for recreational attributes of public parks: A choice experiment approach |
| title_fullStr | Willingness to pay for recreational attributes of public parks: A choice experiment approach |
| title_full_unstemmed | Willingness to pay for recreational attributes of public parks: A choice experiment approach |
| title_short | Willingness to pay for recreational attributes of public parks: A choice experiment approach |
| title_sort | willingness to pay for recreational attributes of public parks a choice experiment approach |
| topic | HC Economic History and Conditions |
| work_keys_str_mv | AT hasanbasribakti willingnesstopayforrecreationalattributesofpublicparksachoiceexperimentapproach AT abdkarimmohdzaini willingnesstopayforrecreationalattributesofpublicparksachoiceexperimentapproach AT bakarnormizan willingnesstopayforrecreationalattributesofpublicparksachoiceexperimentapproach |