Analyzing altruistic motivations in public library valuation using contingent valuation method |
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| Authors: | Soon-Jae Lee Hye-Kyung Chung |
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| Institution: | 1. School of Business, Sejong University, 98 Gunja-Dong, Gwangjin-Gu, Seoul 143-743, Republic of Korea;2. Center for International Development, Korea Development Institute, P.O. Box 113, Cheongnyang, Seoul 130-650, Republic of Korea |
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| Abstract: | Altruism is recognized as a significant component of willingness to pay (WTP) estimates when using contingent valuation method (CVM). The argument of whether all values that are motivated by altruism can be considered as real value has been discussed in various fields. In order to derive the real WTP value for public library valuation, an attempt was made to decompose an individual's total WTP into two categories: local versus global and paternalistic versus nonpaternalistic. A contingent valuation survey was conducted to demonstrate how altruistic motivations affect WTP estimates for public libraries. Approximately 22% of the WTP value was found to be excluded from the total WTP value, because of motivation by local and nonpaternalistic altruistic attitudes. The results suggest that in a WTP study using the contingent valuation method, one must design a survey questionnaire with a comprehensive view that takes into account two different aspects of altruistic motivation. |
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