The Modified Contingent Valuation Method for Evaluating the Willingness of the Citizenry to Participate in Excavation and the Restoration of the Ancient Theatre of Lefkada

Abstract

This proposed project is not viable in profitable terms to private enterprise, so it applied a modified version of the CVM (Contingent Valuation Method) to realize this project. A survey was conducted in Lefkada Island in Greece, where 200 interviewees took part in order to consider whether they wish to voluntarily participate in the excavation and restoration of the ancient theater of Lefkada. Half of the interviewees were given information on the history of the site and then were asked to fill out a questionnaire. The other half of the interviewees were given no historical information on the archeological site and also were asked to fill out a questionnaire. The interviewees who were not given any information on the history of the site briefed on the history and then were asked to fill out another questionnaire. The purpose was to observe the different responses that the interviewees gave before and after being informed. This study aims to compare the WTP (Willingness To Participate) for this public good among those who were informed and those who were not