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Volume 5, Number 2 (2004)

Consumer Perceived Economic Value of Electronic Charts

August 13, 2013


This paper applies the Contingent Valuation Method (CVM) to derive the mean willingness to pay (WTP) for the chart information in electronic format by end users. A case study of the members of the Passenger Vessel Association (PVA) was conducted. The results show that on average a PVA Vessel member is willing to pay approximately US$ 700 per vessel just for the chart information in electronic format. The proposed evaluation methodology can be modified to assess WTP for electronic charts of other key users such as recreational boaters and larger cargo shipping companies so the overall benefits of electronic charts can be derived.