Restoring Port Areas for Recreation Purposes: A contingent Valuation Study
||Del Saz-Salazar, Salvador; García-Menendez, Leandro
||Restoring Port Areas for Recreation Purposes: A contingent Valuation Study
||8th European Real Estate Society Conference (26-29 June 2001) Alicante, Spain
||In this paper, the Contingent Valuation Method (CVM) is applied in order to measure the social benefits derived from the restoring of some port areas for recreation purposes in the City of Castellón (Spain). As the data show a high rate of zero responses we have applied the Spike model, one of the most recent models in CVM literature, since traditional models (Logit and Probit) are not suitable due to the characteristics of our data. The results show that the willingness to pay is significantly correlated to income, age (negatively), the expected use of the new recreation facilities and the subjective value given to the whole project.
||Contingent Valuation Method; environmental and urban improvements; Spike model; aggregation
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||Leisure and real estate
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