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This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License
Odysseas Kopsidas, Leonidas Fragkos-Livanios
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DOI:10.17265/1548-6591/2015.09.008
Technological Educational Institute of Thessaloniki, Thessaloniki, Greece; Hellenic Army Academy, Vari, Greece
The authors use the WTP (willingness to pay) method to compute approximate external economies in the case of restoration of the natural environment at Lagoon of Lefkas Island in Greece. The preservation/restoration of natural environment is frequently entailing excessive cost (paid by people through taxation), while it is a source of additional income for both the state and the people, mainly due to tourism. Since the evaluation of this good cannot be in market terms, the authors apply here a modified version of the contingent valuation method (CVM), in order to investigate the significance that people assign on goods and how much they might be WTP for supporting activities concerning the preservation/restoration of the Lagoon of Lefkas Island. The results demonstrate an increased awareness and sensitivity on environmental issues regarding the lagoon on behalf of the public and a limited WTP, with an average of approximately 20 euros per month. The greater part of the bill should fall on the local and central governments, for a viable and successful remediation and preservation of the lagoon.
willingness to pay (WTP), willingness to accept (WTA), environmental protection, non-market resources
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