Evaluation of Firefly as a Tourist Attraction and Resource Using Contingent Valuation Method Based on a New Environmental Paradigm

Abstract

The purpose of this study was to estimate the economic value of Muju (a county in South Korea) firefly (Lampyridae) designated as a natural monument in Korea. To estimate the value of firefly, contingent valuation method (CVM), an appropriate analytical instrument to estimate non-market value, was used. In addition to the main goal of evaluating the economic value, we also investigated how environmental awareness of respondents (measured by the New Environment Paradigm) affected their interest in paying for Muju firefly conservation. To estimate the traditional threshold of CVM, a two-step approach (using reaffirming questions) was employed. Our study results indicated that the economic value of Muju firefly was 17,656 KRW (= 16.58 USD). Our results also reviewed that an eco-friendly attitude was more likely to increase participants’ willingness to pay for firefly conservation.