Willingness to Pay Essay Example | Topics and Well Written Essays - 250 words - 1

Willingness to Pay - Essay ExampleThe contingent valuation methodology was adopted in drafting the questionnaires that were theatrical roled in collecting the data to be used in the analysis. An approximate 72% of all the participants who responded to the questionnaires indicated willingness to pay for the conservation though at varying levels. This therefore pointed out that the public in many instances are willing to contribute towards the improvement of the quality of the environment. The study employed use of logistical regression procedures in comparison of the persons who were willing and not willing to contribute actively in improving the environmental quality.Through the contingent valuation analysis, the use value as well as non-use value of indispensable resources and environmental quality can be established. This method therefore involves a hypothetical stroke to establish the willingness to pay of individuals on much(prenominal) natural resources and quality of envir onment. Hypothetical case studies are often used in such a speckle where after describing such a case to the respondent, he/she is then expected to quote the amount of money he/she would be willing to pay for the environmental quality. Reasons expressed for willingness to pay would therefore form the basis of policymaking especially as regards to legislation on environmental conservation and management. In often cases such as was revealed through the case study, non-use values like existence value were cited most as reasons why many people would be willing to pay for conserving natural environment or such a natural park. This study therefore shows that valuation of gains from natural resources and environment would contribute greatly towards efforts and willingness of people to pay for such conservations.Han, F., Yang, Z., Wang, H., & Xu, X. (2011). Estimating willingness to pay for environment conservation A contingent valuation study of kanas nature reserve, xinjiang, china. Envi ronmental Monitoring and Assessment,