Abstract
We conducted a quantitative evaluation of cultural capital. Considering the World Heritage case of the historic villages of Gokayama, Toyama, we conducted a survey of tourists on the benefits of the heritage using double- bounded dichotomous choice CVM, and analyzed the results by a random utility model. The heritage benefits derived mainly from bequest value. The total WTP of tourists is large enough to justify social investment in the heritage. Also tourists are not only recipients of the benefits but also potential donors and volunteers, and strongly support funding for the maintenance of the villages by the national government.
