Abstract
The Community Zone project was established to reduce the through traffic and to improve the road safety in a residential area. This paper evaluates the economic value for the environmental quality improved by the Community Zone Project by using the Covariance Structure Analysis and the Contingent Valuation Method (CVM) that developed in the filed environment economics. The economic value contains several environmental values such as direct use value, non use value, option value and etc. Therefore, this paper clarifies mutual relationship among these environmental economic values and WTP (Willingness To Pay) and residents participation attitude toward the project.
