Willingness to pay for the conservation of an urban forest at the Montaña farm, Aguadilla, Puerto Rico

Abstract

This research used the contingent valuation (CV) method through face-to-face interviews to estimate the willingness to pay (WTP) for conserving the urban forest at the Montaña farm, Aguadilla, Puerto Rico. A total of 371 usable interviews were conducted with households located in the surrounding neighborhoods of the urban forest. The data obtained by using the double-bounded dichotomous choice format in the valuation questions were inserted in an econometric model known as the Maximum Likelihood Estimate. This model allows for maximizing the odds obtained from the answers in the valuation questions to produce the estimators of β and σ that allow the estimation of the WTP of the respondents. The results of this research indicate that respondents are willing to pay the amount of $9.99 per person per visit to the forest. This  represents an annual WTP average for forest conservation of $376,752.87. The variables of conservation, access, age and income influence the WTP of users of the urban forest.