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Comparing money and labour payment in contingent valuation: the case of forest fire prevention in Vietnamese context
Author(s) -
Hung Le Trong,
Loomis John B.,
Thinh Vu Tien
Publication year - 2007
Publication title -
journal of international development
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.533
H-Index - 66
eISSN - 1099-1328
pISSN - 0954-1748
DOI - 10.1002/jid.1294
Subject(s) - contingent valuation , vietnamese , payment , valuation (finance) , cash , economics , context (archaeology) , business , willingness to pay , actuarial science , public economics , finance , macroeconomics , geography , philosophy , linguistics , archaeology
The contingent valuation method for valuing public goods is a relatively new method in Vietnam. In developed countries, payments are often requested in money, but the form of payment should be more flexible in developing countries that do not have extensive cash economies. Drawing on historical precedent in Vietnam, payment in working days was also used and accepted by the local people; payment in money was less acceptable for the firebreak establishment and maintenance programme. The household mean willingness to pay for the firebreak establishment and maintenance programme was five days a year. The contingent valuation method was found workable at least for a forest fire prevention programme in the Vietnamese context. The lessons learned from this study should be of interest to researchers and policy makers considering applying the contingent valuation method in newly emerging market economies. Copyright © 2006 John Wiley & Sons, Ltd.