Estimating the value of preserving the Manchurian black bear using the contingent valuation method

Although non-consumptive wildlife use is increasingly in demand, its preservation value is not estimated with sufficient accuracy. This study estimates the value of the endangered Manchurian black bear associated with preservation programmes (hereafter, "preservation value") using a dichotomous choice contingent valuation method in a real-world setting. Since using a hypothetical setting in the contingent valuation method tends to overestimate willingness to pay (WTP), a specially designed field experimental survey was used to incorporate a real-world setting and thereby reduce hypothetical bias, ultimately increasing the accuracy of the estimated WTP. The survey results show that when the responses from the hypothetical setting and real-world setting are compared, the estimated WTP based on the hypothetical setting is higher than that based on the real-world setting. Thus, the real-world setting appears to be effective in terms of reducing hypothetical bias. The preservation value indicated in the real-world setting is estimated at US $4.99 per household for visitors to Chirisan National Park in South Korea, and the annual aggregate preservation value is estimated at US $3.66 million when considering total visitor households. The WTP results show that visitors to Chirisan National Park strongly support preservation programmes for this endangered wildlife species.