Preprint Article Version 1 Preserved in Portico This version is not peer-reviewed

# Estimating the Recreational Value of the Abdanan Black Twin Lake: A Contingent Valuation Approach

Version 1 : Received: 1 August 2021 / Approved: 3 August 2021 / Online: 3 August 2021 (14:47:59 CEST)

How to cite: Sayehmiri, A.; heidarvand, A. Estimating the Recreational Value of the Abdanan Black Twin Lake: A Contingent Valuation Approach. Preprints 2021, 2021080086 (doi: 10.20944/preprints202108.0086.v1). Sayehmiri, A.; heidarvand, A. Estimating the Recreational Value of the Abdanan Black Twin Lake: A Contingent Valuation Approach. Preprints 2021, 2021080086 (doi: 10.20944/preprints202108.0086.v1).

## Abstract

As one of the unique destinations in Iran, Abdanan Black Twin Lake attracts many tourists yearly. Among striking features is the presence of minerals, boiling springs, and its beautiful landscape. Human beings are willing to spend money on such natural resources. An economic valuation can be interfered constructively and positively in improving environmental policies. So, quantifying these benefits is of the utmost importance. The paper mainly estimated the tourists' willingness to pay and their recreational value using the contingent valuation method. Random sampling was conducted on 384 people using the two-dimensional double-choice questionnaire in spring 2019. In the Twin Lake Recreational Value Questionnaire, the main questions were devoted to the visitors' willingness to pay, with three bids of 0.07 $, 0.14$, and 0.22$. Among 384 respondents, 304 (79%) were willing to pay for recreational use of the lake, and 80 respondents (21%) were not. The likelihood, the model's parameters were estimated. The findings indicated the average tourists' willingness to pay for recreational value was estimated at 0.09$ per visit and the recreational value of this lake for each household was estimated at 0.40\$. The findings revealed the effect of education, household income, household size and tourists' willingness to pay was significant.

## Keywords

contigent valuvation; Black Twin Lake of Abdanan; Recreational Value; Willingness to Pay; Logit Model

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