Contingent Valuation Analysis for Conservation of Fungi in Malaysia: Are You Willing to Pay?

Hafiz Rahman; Mahirah Kamaludin

doi:10.56225/ijassh.v1i2.46

Authors

Hafiz Rahman Faculty of Business, Economics and Social Development, Universiti Malaysia Terengganu, Malaysia
Mahirah Kamaludin Faculty of Business, Economics and Social Development, Universiti Malaysia Terengganu, Malaysia

DOI:

https://doi.org/10.56225/ijassh.v1i2.46

Keywords:

Contingent Valuation Method (CVM), Willingness to Pay (WTP), national park, conservation, fungi

Abstract

In a biological cycle on earth, there are components of life and the environment that interact with each other in carrying out functions to maintain the balance of life on earth. The function of each biotic and abiotic component that makes interactions in the ecosystem could even give a stable life cycle but deforestation that happened was not good for the surrounding, then how much it will cost to reforestation process. In conjunction with the present issue, this study is written to analyze the willingness to pay for the conservation of fungi in Malaysia. This study is designed using the Contingent Valuation Method (CVM). The results obtained after performing the double bond test also showed that the value obtained for the willingness to pay was approximately RM 4.10. In conclusion, this study indicated that the respondents are willing to make additional payments in order to restore the environment, especially the conservation of fungal communities in forest areas.

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