Estimating the Economic Value of Historical and Cultural Museum Interpretive Services

Purpose - This study aims to evaluate and compare the economic value of two types of interpretive services in Chinese historical and cultural museums using the Contingent Valuation Method (CVM) to estimate the willingness to pay (WTP) for both personal interpretive services and audio-guided services. Design/methodology/approach - A dichotomous-choice model of the contingent valuation method (CVM), known as an effective tool, was used to calculate the value. The questionnaire was conducted with 800 visitors to Chinese historical and cultural museums, and 694 valid samples were analyzed. Findings - According to the analysis results, the WTP for personal interpretive services is CNY 47.98 (US$ 6.64) and for audio-guided services is CNY 19.91 (US $2.76). The WTP for interpretive services was higher among those with a greater interest in history and culture. Additionally, for personal interpretive services, WTP was significantly related to the level of education. Research implications or Originality - Understanding the difference in benefits by type of interpretive service provides important information for delivering user-centered interpretive services. This can contribute to enhancing the utilization of interpretive services with educational value in history and culture museums and improving visitor satisfaction.