New Perspectives in Science Education
Economic Value Evaluation of Mekong River's Flooding Alert Using Contingent Valuation Method.
Saksri Rakthai, Department of Environmental Science and Technology Faculty of Science and Technology, Pathumwan Institute of Technology Wangmai, Pathumwan, Bangkok, 10330 (Thailand)
Abstract
Flooding was the dramatic natural problem because it significant damaged local communities, infrastructure, properties, and agricultural areas. People always needed flooding alert system for reducing damage cost however this cost was very hard to evaluate due to non-market value. This research focus on the application of the contingent valuation method to the Mekong River's flooding warning system. The study area were 32 villages located in 8 provinces including Chiangrai, Nongkhai, Loei, Bungkan, Nakhonphanom, Mukdahan, Ubonratchathani and Amnartcharoen, Thailand, which have the Mekong River flow through the city. The objective of this research was analyzing willingness to pay for Mekong River's flooding alert fee by elicitation 648 household in 8 provinces located alongside of the river. The data was analyzed by using single bounded closed- ended CVM question, Non- parametric model and Binary Logistic Model.
The result showed that the willingness to pay by means of the Non-Parametric Model was 214.14 Bath per household per year and its total value was 8,429,230.80 Bath per year. This finding also revealed that the negative correlation of household’s willingness to pay include the gender (Beta = -17.519, sig = 0.05) and the training experience in local environment (Beta = -0.899, sig = 0.004).
