Effects of knowledge and perceived image on willingness-to-pay for access to world cultural heritage sites in Korea: using the dual coding theory of learning

By building upon the dual coding theory of learning, this study aims to investigate the combined effects of perceived image and knowledge about world cultural heritage sites in Korea on willingness-to-pay an entrance fee. To do so, a 2 (image: absence vs. presence) x 2 (knowledge: absence vs. presence) experiment was conducted. Then, contingent valuation method (CVM) was used to estimate and compare tourists' willingness-to-pay among four experimental conditions. The findings revealed that levels of perceived image and knowledge vary depending on experimental treatments, which substantially contribute to an increase in their payment intention for an entrance fee.