I estimate the total economic value to Mississippians of restoring and re-using the Alcazar Hotel in Clarksdale, MS using a combined travel cost, contingent behavior, and contingent valuation method based on Eom and Larson's (2006) combined travel cost and contingent valuation method. I find that Mississippians hold a positive average total value of about $23 per person over a three-year visitation period. Using Eom and Larson's (2006) framework, I am able to calculate the use and non-use value of restoration in a theoretically consistent manner and find that the majority of the total value of restoration is non-use value. This finding suggests that the use of non-market valuation methods that require the researcher to assume away non-use value is inappropriate when valuing culturally and historically significant sites.
| Identifer | oai:union.ndltd.org:MSSTATE/oai:scholarsjunction.msstate.edu:td-3572 |
| Date | 09 August 2019 |
| Creators | Wells, Kaylee Katherine |
| Publisher | Scholars Junction |
| Source Sets | Mississippi State University |
| Detected Language | English |
| Type | text |
| Format | application/pdf |
| Source | Theses and Dissertations |
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