Applying The Contingent Valuation Method in Assessing Urban Parks: the Case of Niarchos in Greece

Abstract

Urban parks are of great importance for the sustainability in the cities. The multiple influences that the parks and green spaces offer both to humans and to the environment have been widely recognized in the literature and include the physical and mental health of citizens. The urban parks are oxygen sources for cities, they make people feel close to nature, they contribute to the reduction of anxiety and they also offer many activities to the people. The impact of green spaces is of vital importance as they contribute to the reduction of temperature and they offer a cool environment improving the microclimate this way. The purpose of this study is to estimate the value that people attribute to urban parks applying the Contingent Valuation Method (CVM). This value is estimated through urban park visitors’ willingness to pay a hypothetical entrance ticket. For the purpose of our study, a survey was conducted to visitors of the Niarchos Park in Attica, Greece from July of 2018 to February of 2019. Subsequently, the empirical analysis is based on regression models. The demographic characteristics, such as the age, the educational level, the employment and the number of household members were found to be significant prognostic factors for people’s willingness to pay or not in order to use the park, as also the importance that people give to green spaces. The visitors’ expenses for the park visit were also taken into consideration and they are statistically important. The differentiation that may exist between a hypothetical scenario which is presented to the park’s visitors and of a real situation should be taken into account.