Title: The willingness to pay for urban parks' amenities: the economic value of 'Bois Sainte Anastasie' in Yaoundé, Cameroon

Authors: André Melachio Tameko; Laurent Ndjanyou

Addresses: Department of Public Economics, Faculty of Economics and Management, University of Yaoundé II, P.O. Box 1365 Yaoundé, Cameroon ' Department of Finance and Accounting, Faculty of Economics and Management, University of Dschang, P.O. Box 110 Dschang, Cameroon

Abstract: This paper, through the contingent valuation method and the 'referendum' format, values the preferences of the users of 'Bois Sainte Anastasie' park for a policy of endowment of this environmental non-market good with more amenities. The certainty calibration and the 'consequentialism script' are incorporated to further minimise hypothetical behaviours. Parametric and non-parametric methods are applied to elicit the willingness to pay for the improvement of the park. From the results, the probability that the respondents accept the pre-chosen bid is positively influenced by the income level. The average WTP is USD 0.38 from the parametric model and USD 0.63 from the non-parametric model. 78% of visitors are eager to pay a higher entrance fee if this park is endowed with more amenities. The results reveal high demand for the described change from current users.

Keywords: urban green space; contingent valuation method; CVM; certainty calibration; parametric approach; non-parametric approach; willingness to pay; WTP.

DOI: 10.1504/IJSD.2020.112116

International Journal of Sustainable Development, 2020 Vol.23 No.1/2, pp.48 - 68

Accepted: 01 Jun 2020
Published online: 04 Jan 2021 *

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