9722602陳瑩珍Jenny
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Transcript of 9722602陳瑩珍Jenny
Assessing the economic value of a Assessing the economic value of a
world heritage site and willingness-world heritage site and willingness-
to-pay determinants: A case of to-pay determinants: A case of
Changdeok Palace Changdeok Palace
Presenter: Jenny Chen 陳瑩珍Instructor: Dr. Pi-Ying Teresa Hsu
March 16, 2009
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Kim, S. S., Wong, K. K. F. & Cho, M. (2007). Assessing
the economic value of a world heritage site and
willingness-to-pay determinants: A case of Changdeok
Palace. Tourism Management, 28, 317-322.
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ContentContent
I. Introduction
II. Methodology
III. Results
IV. Conclusion
V. Personal Reflection
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IntroductionIntroduction
United Nations Educational, Scientific and
Cultural Organization (UNESCO)
World Heritage List (http://whc.unesco.org/en/list)
- cultural assets
- natural assets
- mixture
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IntroductionIntroduction
1. Jeju Volcanic Island and Lava Tubes (2007)
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IntroductionIntroduction1. Haeinsa Temple Janggyeong Panjeon, the Depositories for
the Tripitaka Koreana Woodblocks (1995)
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IntroductionIntroduction2. Jongmyo Shrine (1995)
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IntroductionIntroduction3. Seokguram Grotto and Bulguksa Temple (1995)
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IntroductionIntroduction4. Hwaseong Fortress (1997)
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IntroductionIntroduction5. Gochang, Hwasun and Ganghwa Dolmen Sites (2000)
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IntroductionIntroduction6. Gyeongju Historic Areas (2000)
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Changdeok PalaceChangdeok Palace
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Centre of Seoul
Total area: 580,000m²
1405
Eco-friendly
Representative tourism attraction to foreign tourists
Entrance price: US$2.30/adultUS$1.20/youth or soldier
Changdeok PalaceChangdeok Palace
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IntroductionIntroduction
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IntroductionIntroduction
“Most of the past studies have attempted
valuation of cultural heritage goods by asking
residents their willingness-to-pay (WTP) for
taxes or donations.”
(Kim, Wong, & Cho, 2007)
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MethodologyMethodology
Contingent valuation method (CVM):
a survey-based economic technique for
the valuation of non-market resources
a sample of the relevant population is
asked to state their willingness-to-pay
(WTP)
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Research ObjectiveResearch Objective
- to investigate use value of the World
Cultural Heritage through the
contingent valuation method (CVM)
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Detailed information about touristic and
cultural value of Changdeok Palace
Close-ended/dichotomous choice
Price offers were divided into 10 categories
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QuestionnaireQuestionnaire
In return for using this traditional site would you
be willing to pay – more than present admission
prices :
(1) Yes, (2) No
Pre-test Participants 50 Korean adult visitors
Duration a week (Sept. 17, 2004- Sept. 24, 2004)
Main Survey Participants N/A
Duration two weeks (Oct. 17, 2005– Oct. 31, 2005)
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MethodologyMethodology
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MethodologyMethodology
log-linear log-logit
estimate the use value
identify and compare WTP determinants
Percentage
Gender Female Male
57.742.3
Age 20s 59.2
Residents in Seoul 59.5
Monthly household income $2000-3000 27.7
Profession student professional clerks others
32.020.016.032.0
Educational Level university graduate 52.5
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ResultsResults
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ResultsResults
ResultsResults
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ResultsResults
LIMDEP 8.0 program
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ResultsResults
Mean WTP Value(log-linear model)
5706 Won ($5.70)
Mean WTP Value(log-logit model)
6005 Won ($6.00)
Aggregate use value(log-linear model) 1.93 million dollars
Aggregate use value(log-logit model)
2.01 million dollars
Respondents are willing to pay at least
twice as much as the current price.
High level of WTP values alleviate the
worry of strategic behavior.
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ConclusionConclusion
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ConclusionConclusion
Restore old buildings
Undertake research
Renovate facilities or services
Interpret visitors
Promote the heritage site
Reinforce current or potential users’ beliefs in the importance of cultural assets
Personal ReflectionPersonal Reflection
Lack of demographic data of participants
Lack of statistical data
Mentioned consistency with other researches too often
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Thanks for your attention!
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