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:: Volume 5, Issue 20 (Fall 2017) ::
IUEAM 2017, 5(20): 67-82 Back to browse issues page
Determining the Economic Value of Historical Monuments of Bisotun Using the Method of Individuals’ Willingness to Pay (WTP)
Fathollah Haghani 1, Arash Azami 2
1- Lecturer, Department of Economics Faculty of Literature and Humanities, Islamic Azad University, Kermanshah branch, Kermanshah, Iran
2- Ph.D. Student of Economic Sciences Faculty of Economic and Political Sciences, Shahid Beheshti University, Tehran, Iran
Abstract:   (324 Views)
The ancient and historic site of Bisotun is one of the most reliable archaeological works of the world, which was registered in the UNESCO World Heritage List in 2006. This research studies the economic value (including recreational value and existential value) of Bisotun Historical Complex using the Logit and Probit valuation models. The statistical population of the study was visitors to the historical monuments of Bisotun in 2013. The results of the survey showed that a large number of visitors are willing to pay a fee as an entrance to this complex and have fun in the area around the historic monuments. In addition, the results showed that income and education variables in both methods of Logit and Probit are one of the most important factors affecting the WTP rate of visitors to visit the historical complex of Bisotun. The average WTP calculated for the economic value of Bisotun’s historical monuments based on Logit and Probit models is estimated to be 47659.2 Rials and 50149 Rials per visit, respectively. Moreover, according to the visitors’ statistics of Bistoun historical monuments, which the Cultural Heritage Department of Kermanshah Province has announced it for 250,000 people for 2012, and assuming that the average annual number is the same, the total annual value of the complex of historical monuments using the Logit and Probit models are estimated at 11914800000 and 12537250000 Rls, respectively.
Keywords: Economic value, valuation models, willingness to pay, Logit model, Probit model
Full-Text [PDF 990 kb]   (74 Downloads)    
Type of Study: Research | Subject: Special
Received: 2017/06/24 | Accepted: 2017/09/13 | Published: 2017/10/30
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Haghani F, Azami A. Determining the Economic Value of Historical Monuments of Bisotun Using the Method of Individuals’ Willingness to Pay (WTP). IUEAM. 2017; 5 (20) :67-82
URL: http://iueam.ir/article-1-769-en.html
Volume 5, Issue 20 (Fall 2017) Back to browse issues page
فصلنامه علمی-پژوهشی اقتصاد و مدیریت شهری Journal of Urban Economics and Management
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