Willingness to pay for patrimonial assets conservation: Historic Center of the City of Quito Case

Abstract

This research aims to contribute in the study and valuation of the assets that form part of the historical patrimony, a subject insufficiently studied by economic science. In this case, in order to value the importance that the conservation of the Quito historic center has on the wellbeing of residents and tourists, an intangible assets valuation methodology was used, such as contingent valuation, to determine the willingness to pay from direct users of this patrimonial asset for a conservation project. JEL: Z1-cultural economics; R11-regional economic activity: growth, development, environmental issues, and changes; R51-finance in urban and rural economies; R58-regional development planning and policy.