The significant role of energy efficiency labelling should not be ignored as it provides various information that serve as a guideline when people make purchasing decision. It indicates projection energy consumption of an electrical equipment according to energy efficiency rating system. This study applied choice experiment (CE) method in which the conditional logit (CL) model was valued to determine students' willingness to pay (WTP) based on their preferences of the energy label attributes of table fans. A questionnaire survey was distributed to 151 on-campus students in Terengganu, Malaysia. The attributes were speed of fan, energy consumption and energy star and price of fan. The study found that the students mostly preferred energy consumption attribute with WTP estimation of RM123.538 (USD29.66) at level two and RM42.88 (USD10.30) at level three. These findings illustrate how people place value on monetary and non-monetary attributes based on their preferences. A label with energy-efficient standard makes it easier for utility companies and government energy-conservation organizations to offer consumers incentives to purchase energy-efficient products. The usefulness of energy efficiency label is very reliant in terms of how it portrays information to the people and promote energy conservation.
This research explores the issue of local management system governing the heritage preservation in UNESCO World Heritage Site (WHS) Stadthuys, Melaka. Thus far, there is no clearly defined value of cultural heritage that justifies the benefits of preserving cultural heritage as a tourism product and as a sustainable heritage site. Most studies have proven that visitors in general are less interested in visiting cultural heritage sites due to the lack of information available there. Another issue identified in the recent research on cultural heritage assessment is the lack of empirical references on the economic valuation of cultural heritage preservation. This study used contingent valuation method (CVM) and questionnaire for data collection. Four sets of questionnaires were designed and distributed to a total of 100 respondents consisting of local community and domestic tourists. On average, respondents are willing to pay RM8.82, in which this value is higher than the current fee, RM5.00, showing that visitors have the awareness to value cultural heritage through preservation in Stadthuys, Melaka, WHS. Finally, this research has established a framework to be considered by the management regarding the WTP value of the cultural heritage in order to create a more sustainable Melaka Historical City.
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