By Uddin Sarwar Ahmed, Keinosuke Gotoh
Contingent valuation is likely one of the technique of incorporating socio-environmental concerns in cost–benefit research. The authors of this publication have tested environmental valuation equipment during the lens of cost–benefit research inquisitive about 3 case reviews in Japan: public parks, a bay wetland, and a leisure subject park. With implications for the area at huge, the findings offered right here function a worthwhile resource of data on jap habit in regards to the valuation of environmental items. New, replacement techniques and guidance for cost–benefit research within the private and non-private spheres are also mentioned. This quantity makes a tremendous addition to the library of all researchers and different scientists within the fields of environmental technological know-how and environmental economics.
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Extra resources for Cost-Benefit Analysis of Environmental Goods by Applying the Contingent Valuation Method: Some Japanese Case Studies
584<1). Hence, by reviewing the CBA of the lBRP critically, several drawbacks can be drawn as follows: 1. Only considers maintenance and construction costs as the cost of the project. 2. Did not consider the impact of the project on fishing industry and local industries supported by the fishing resources of the region. 3. Did not consider the economic value of the tidal flat wetland composed of high organic matter that might be lost due to the initiation of the project. 4. Ignored impact of the project on the life style of the local residents.
Many researchers also have used CVM for valuing wetlands. They have suggested transforming the value of the wetlands and other environmental entities into monetary amounts for considering interactions with the environment as the most appropriate way (Spash 2000). According to Costanza et al. (1989) 'the estimation of the economic value of natural wetlands is a difficult and complex task, but it is essential to rational management', and they went to do so by applying contingent valuation method (CVM) as one of the methods.
5 WTP Based on Age The mean WTP is calculated based on age group of the respondents. For this purpose the whole sample of respondents is divided i n three classes (see Fig. 13). , from 40 to 60 years), are willing to pay more in Isahaya and Nagasaki city (Y7,540 and Y 8,474 in Isahaya and Nagasaki, respectively). Whereas, in Kitakyushu City, the willingness to pay amount increases with age of the respondents (mean WTP Y 7,994 for the respondents above 60 years). 6 WTP Based on Income On the other hand, mean WTP calculated based on the yearly income of the respondents showed a relatively apparent trend in Isahaya and Nagasaki (see Fig.