Estimating Willingness to Pay for a Future Recreational Park Atop the Current Jakuševec Landfill in Zagreb, Croatia

Abstract

The main purpose of this study is to investigate the economic value potentially accrued by a prospective city park, which is planned to be built as a result of strategic land reclamation of a current landfill in Croatia, based on parkgoers’ marginal willingness to pay. The idea of this land transformation is inspired by recent debate on the issue of how to address air quality and other environmental concerns over the disposal of the landfill site in the city. Like any other nonmarket valuation studies, choosing a proper survey method is a critical step for a successful economic valuation study. We adopted a double bounded dichotomous choice contingent valuation method in survey design and data collection, followed by parameter estimation using the logit model. The study reveals—(1) the support of 70% of respondents was estimated; (2) as much as 96% of the respondents are willing to visit the park being presented to the respondents along with the survey questionnaire. The economic valuation indicates that the city residents are willing to pay €3.63 per person for the park’s entrance fees, which can be translated into an aggregate of €2,867,762. By referring this value information to the park budget, we may persuade policy makers to commit to a transformation of the current landfill.

Estimating visitors' willingness to pay for a conservation fund: sustainable financing approach in protected areas in Ethiopia

“…The result also shows that younger people are found to be more WTP to provide economic support for nature conservation. This result is consistent with the findings by Platania and Rizzo (2018) and Witt (2019) but inconsistent with the findings by Opacak and Wang (2019) and Pedroso and Kungu (2019). Gender and household size had no significant effect on WTP.…”

“…The finding unfolds that the more concerned visitors would be more willing to pay than the less concerned visitors. This result was consistent with the finding by Opacak and Wang (2019) but inconsistent with the finding by Pedroso and Kungu (2019), which noted that environmental consciousness, behaviors, and awareness of individual users could not affect the WTP.…”

“…The same result was also revealed in the studies by Witt (2019) and Pedroso and Kungu (2019). Education and awareness has a positive consequence on personal maturity and will help to increase one's knowledge and could ultimately have an impact on the positive environmental thinking of a person (see Opacak and Wang, 2019;Rodella et al, 2019;Lundberg et al, 2019).…”

Introducing Park Facilities and Novelties to Support Individual’s Intention to (Re)Visit

“…Croatia faced the issue of land reuse recently while considering closure and transformation of Jakuševec-Prudinec landfill (hereinafter Jakuševec) in Zagreb (Figure 1). The suggestions of land use alternatives for the particular site are related to leisure services that encourage physical fitness and exercise [56].…”

Determining the Increase in a Building’s Appreciation Rate Due to a Reconstruction

“…Shao, Tian, and Fan [35] point to an interesting connection between the willingness of property buyers, the level of pollution, and the willingness to pay for more environmentally friendly buildings. The problem of increasing the value of private real estate is tackled by Opačak and Wang [36], who evaluate the economic contribution of property owners in the form of building a city park on a specific model example. In a similar vein, Caputo and Gaterell [37] build on the non-deterministic theory of urban planning to develop an evaluation code for assessing the impact of buildings.…”