Economic Valuation of the University of Brasília Arboretum and Determinants of Willingness to Pay for the Arboretum

Abstract

Despite forest remnants being crucial components of the urban environment, they have been insufficiently studied in terms of their economic value. This study aimed to assess the economic value of the Arboretum at the University of Brasília (UnB) in the Federal District, using the contingent valuation method (CVM) from environmental economics to facilitate effective preservation measures. Questionnaires were randomly distributed to the university population of UnB residing in the Federal District. The findings indicated a willingness among the university community to contribute to the conservation of the Arboretum. Specifically, the study estimated the economic value of the environmental asset, determined the likelihood of willingness to pay (WTP), calculated the average monthly WTP, and analyzed the respondents’ profiles to identify the factors influencing WTP. Among the psychographic, environmental, and socioeconomic variables, only the variables related to environmental segmentation were statistically significant determinants of WTP. The analysis showed that individuals with a greater understanding of ecology were more inclined to express willingness to pay for the Arboretum. Thus, the variable “EK” was identified as an important predictor of environmentally favorable behaviors. The study concluded that the Arboretum’s estimated economic value in 2020 was BRL 57,890,196.00 (with USD 1.00 = BRL 5.25), and the willingness to pay for this environmental asset was estimated at BRL 5.33 per month, consistent with values estimated for other conservation units in Brazil. This willingness to pay makes it possible to generate subsidies for the development of public policies and management strategies to improve and preserve the Arboretum.