Differences in Patterns and Factors Influencing Preference and Willingness to Pay for Physical Developments of a Streetscape in the Old Town of Chiang Mai, Thailand

Abstract

This paper identifies the influences of the environmental and personal characteristic factors on preference and willingness to pay (WTP) for the physical development of streetscape, and the relationship between preference and WTP.  A questionnaire with computerized montage pictures portraying streetscape development solutions was used to collect data from 440 respondents in Chiang Mai.  Tobit models were formed to analyze the preference and WTP dependent variables with environmental and personal characteristic variables.  The results showed that preference was significantly influenced only by the environmental variables, while WTP was significantly influenced by preference and the personal characteristic variables.