This study investigated the willingness of residents to pay for ecosystem services in a hillside forest in the Lanyang River Basin, which is among the most vulnerable watersheds in Taiwan. The economic value of provisioning, regulating, cultural, and supporting ecosystem services was evaluated. The Contingent Valuation Method (CVM) was applied for economic analysis of public welfare. The determinants of the economic values were identified. A total of 444 respondents completed the questionnaire. The results revealed that the four ecosystem services had high economic value, indicating that conserving hillside forests can ensure the welfare of nearby residents. The findings of this study can serve as reference for regional land planning and social and economic system development policies. In addition, this study addressed policy implementation from the perspective of ecological economics to contribute to an improved Anthropocene.
Keywords: contingent valuation method; economic value; ecosystem services; forests; local industries; organic farming.