Thesis on drinking water and willingness to pay using CVM in Malaysia.
The issue of cost recovery particularly in supplying drinking water supply consists of affordability of the tariff, willingness to pay (WTP) for the service and efficient management of the financial assets of the utility office. WTP is an economic concept which aims to determine the amount of money a consumer will pay for the supply and consumption of water. In this paper, several valuation methods available in the literature to measure Malaysian households’ WTP for improved water services (e.g. water quality, management of water resource) in urban areas will be described on which Contingent Valuation Model (CVM) is proposed as the most suitable method. While the literature noted several economic estimation models on willingness to pay for water management, no consensus on accurate estimation and decision made on cost management has been reached. It is believed that CVM would be able to reveal whether the gathered sample households’ WTP for improved drinking water can be significantly determined by households’ awareness, levels of education, income, etc. The expected empirical results can have policy implications on drinking water price strategies and drinking water related projects investment in Malaysia
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