International Journal of Management, Accounting and Economics
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Volume 5, No. 8, August 2018 Pages: 643 - 657
Estimating Willingness to Pay for Improving River Water Quality Using Contingent Valuation Method: A Conceptual Framework
Md. Ariful Islam , Siti Aznor Ahmad , Rabiul Islam
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This paper presents a conceptual framework to help in the interpretation or design of contingent valuation studies for improving river water quality in a developing country setting. An extensive literature review helped design this conceptual framework. Though the betterment of the river water quality has drawn the attention from various stakeholders, dearth of studies to deliver precise information about the value of the water quality appears a major drawback in developing countries to implement improvement plans. The major objective of this paper is to review the recent developments on non-market valuation e.g., contingent valuation method to design an appropriate economic valuation study for the river water quality. This study provides useful information which may help for further improvement of the water quality in an alike problem of developing countries. Future studies should validate empirically the proposed research framework.
Willingness to Pay, Contingent Valuation Method, River Water Quality, Developing Countries
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