Question

Researchers in the National park Service conducted a survey to to estimate what the national parks are worth to Americans. The survey asked a representative sample of more than 700 households how much they would pay in increased taxes to preserve those assets for themselves and their grandchildren. The peer- reviewed economic survey of 700 U.S. taxpayers, conducted by mail and internet, also found that people would be willing to pay a significant amount of money to make sure the parks and their programs are kept intact. Some 81% of respondents said they would be willing to pay additional taxes for the next 1O years to avoid any cuts to the national parks. What sort of valuation method most closely resembles that utilized by the researchers to determine the value of National Parks to Americans? What sort of values ( i.e. market, use, non-use?) can be measured with the valuation method used?

Answer 1

Answer:

Consider the following explanation

Explanation:

The valuation method used in this case is Contingent Valuation. In this method, the consumers or people are asked to state a value they would assign to a certain good. They are asked to state their willingness to pay. In this case the willingness to pay is asked in the form of increased taxes they would be willing to pay to preserve the National Park service.

The values that are measured in this survey are largely non-use value. Non use value is the value people assign to something not for the utility they receive directly from it but from the mere existence value of the resource or National Park in this case. Hence in this case the existence value of the national parks is measured