Importance: The Importance variable has statistically significant affect at the .01 level.
The negative sign indicates that the less important the respondent believes the issue of
"protecting Ichetucknee Springs from nitrate pollution" is, the less likely they will vote for the
program. This affect was expected and conforms with other results in the literature (Loomis,
2000a). This result implies that if policy makers or educators were to enact programs that
increase awareness and concern for the ecological health of the Ichetucknee, it would increase
the value that individuals place on the river.
Visitation: Visitation has a significant affect at the .05 level. The positive sign indicates
that the more often a participant visits Ichetucknee Springs the more likely they are to vote for
the program. This sign was expected and conforms to theory as well. The result is interesting in
that it might provide managers of Ichetucknee incentive to implement programs to increase
visitation at the park by local residents. However the river already has an enforced capacity in
summer, and can only withstand a certain increase in activity during those months. One possible
solution could be to attempt to increase visitation by local residents during other times of the
year, with an emphasis on more passive uses of the resource.
Mean WTP
Hanemann's (1984) formula to calculate the value of mean willingness to pay is:
Mean WTP = (1/Bi)*ln(1 + eBo) (8)
where B1 is the coefficient on the Bid amount and Bo is either the estimated constant (if
there are no other independent variables in the model) or the sum of the constant plus the product
of the other independent variables times their respective means.
Using this formula mean WTP was calculated and found to be $18.7 per household per
month, without incorporating the independent variables. After incorporating the effects of the
independent variables, mean WTP was estimated to be $16.9 per household per month for the