Willingness to Pay for Historic Structures Preservation: An Empirical Study of Vat Phou at Champasak Province, Lao PDR
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Abstract
This paper presents an empirical study of willingness to pay for the historic structures preservation
project at Vat Phou and Associated Ancient Settlements within the Champasak Cultural Landscape
by those Lao citizens living in Vientiane capital. A Dichotomous choice contingent valuation
(DCCV) survey have been conducted in Vientiane capital to assess the magnitude of Lao
citizens’ willingness to donate to historic structures preservation project at Vat Phou. The study
found that the mean willingness to pay of respondents was LAK 36,239.75 or around US$ 4.8.
With the logit model, factors that strongly affecting individuals’ willingness to pay were the bid
amount, the income and the age of respondents. The willingness to pay analysis here is
important for policymakers in deciding how to preserve the structures efficiently.
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