Extending the Contingent Valuation Method (CVM) to Assess Externalities Created Round a Cultural Heritage Preservation Site - A Knowledge Based Approach

This work deals with assessing externalities created round a cultural heritage preservation site by using the Contingent Valuation Method (CVM), properly extended to include expenditure – benefit analysis. This extension was achieved through the design/development of a methodological framework under the form of an algorithmic procedure with 29 activity stages and 5 decision nodes. An implementation is presented, referring to the ruins of an ancient temple located in the centre of Athens, Greece. The data obtained by circulating the CVM questionnaire were processed by means of a Logit model