Economic Valuation of Green Island, Taiwan: A Choice Experiment Method

Abstract

The evaluation of ecological security and ecosystem services is now a core issue in the field of natural and environmental resources. Quantifying the economic value of island ecosystem services can inform policy decisions that affect the island and help justify expenditures on ecosystem service improvements. This study investigates the preferences of residents and tourists regarding Green Island and estimates willingness-to-pay (WTP) values for island ecosystem services using a choice experiment. The results indicate significant differences between the preferences of residents and tourists regarding island environmental resources. Therefore, based on the multiple attributes and ecosystem services, this study formulated three assessment schemes: “environmental protection”, “recreational development”, and “integrated operation and management”. Based on our analysis of the problems reflected in the aforementioned valuation models, we recommend that policy makers refer to environmental attribute preferences to create statements or advertisements targeting relevant audiences when planning island development. This paper contributes to the literature by demonstrating how the economic valuation of island ecosystem services can help design and target island conservation policies in order to maximize welfare.

The Construction and Validation of a Sustainable Tourism Development Evaluation Model

“…Tourists hope to reduce land development and utilization and supported preserving landscapes, whereas residents hope to reinforce the development and utilization of land. The results of this analysis are same as those of Chen and Chen (2019) [ 68 ], which indicated that tourists and local residents were divided on how to use tourism resources. In the future, planners of fishing village development should consider the opinions of tourists and local residents and include their knowledge regarding the environmental resources of travel destinations as well as their needs to construct a more accurate foundation for decision-making [ 84 ] such as whether to maintain the status quo or develop new land uses [ 68 ].…”

“…The results of this analysis are same as those of Chen and Chen (2019) [ 68 ], which indicated that tourists and local residents were divided on how to use tourism resources. In the future, planners of fishing village development should consider the opinions of tourists and local residents and include their knowledge regarding the environmental resources of travel destinations as well as their needs to construct a more accurate foundation for decision-making [ 84 ] such as whether to maintain the status quo or develop new land uses [ 68 ]. Stefanica and Butnaru [ 85 ] argued that responsibility for the environmental impacts of tourism development should be shared by tourism industry operators and tourists alike.…”

“…Ridding et al emphasized that keeping and restoring forest land and natural landscapes promote sustainable development in an ecological system [ 67 ]. Chen and Chen indicated that tourists and local residents were divided on how to use tourism resources, such as whether to maintain the status quo or develop new land uses [ 68 ]. This study took the present conditions as the base level, adding “maintenance of natural landscape” and “land utilization and planning” as two new levels for respondents to choose from.…”

Estimating the Economic Value of Improving the Asian Dust Aerosol Model in the Korean Household Sector: A Choice Experiment

“…Subsequently, every interviewee was asked to select the best one of several alternatives from a personal standpoint. By analyzing the data from the respondents' choices, the results regarding the MWTP for each attribute can be obtained, as well as information about increasing or decreasing its level [15,38].…”

“…The valuation will be tried for Korean households. This research seeks to utilize a choice experiment (CE), a frequently applied technique for valuing a non-market good [14][15][16][17][18][19]. The value of each attribute is estimated by analyzing the respondents' marginal willingness to pay (MWTP) for a unit of change in the attributes related to improving ADAM.…”