• Title, Summary, Keyword: WTP

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A Critical Evaluation of Dichotomous Choice Responses in Contingent Valuation Method (양분선택형 조건부가치측정법 응답자료의 실증적 쟁점분석)

  • Eom, Young Sook
    • Environmental and Resource Economics Review
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    • v.20 no.1
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    • pp.119-153
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    • 2011
  • This study reviews various aspects of model formulating processes of dichotomous choice responses of the contingent valuation method (CVM), which has been increasingly used in the preliminary feasibility test of Korea public investment projects. The theoretical review emphasizes the consistency between WTP estimation process and WTP measurement process. The empirical analysis suggests that two common parametric models for dichotmous choice responses (RUM and RWTP) and two commonly used probability distributions of random components (probit and logit) resulted in all most the same empirical WTP distributions, as long as the WTP functions are specified to be a linear function of the bid amounts. However, the efficiency gain of DB response compared to SB response were supported on the ground that the two CV responses are derived from the same WTP distribution. Moreover for the exponential WTP function which guarantees the non-negative WTP measures, sample mean WTP were quite different from median WTP if the scale parameter of WTP function turned out to be large.

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Welfare Evaluation in Contingent Valuation under Alternative Approaches for Incorporating Respondent Uncertainty (지불의사 유도방식에 따른 온실가스 배출 감축의 편익 비교 분석)

  • Kim, Chung-Sil;Lee, Sang-Ho
    • Journal of Environmental Policy
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    • v.8 no.3
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    • pp.163-180
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    • 2009
  • This study attempts to investigate the preference uncertainty of respondents involved in stating their Willingness to Pay (WTP). For the Contingent Valuation Method (CVM) survey, we employed two approaches using two split samples. The respondents of one sample were given the opportunity to express intensity of preference through Multi-bounded Discrete Choice (MBDC) WTP questions, while those in the other sample were given Dichotomous Choice (DC) WTP questions. By incorporating the two elicited degrees of preference uncertainty into examining the WTP responses, we compared the two approaches. In comparing the DC model with the MBDC model, the mean WTP for the DC model was similar to PRYES in the MBDC Model. We concluded that the MBDC model estimates the various mean WTP while considering the preference uncertainty.

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Adsorption of Cd on Carbonaceous Adsorbent Developed from Automotive Waste Tire (자동차 폐타이어로부터 발달된 탄소질 흡착제에 의한 Cd의 흡착)

  • Kim, Younjung;Uh, Eun Jeong;Choi, Jong Ha;Hong, Yong Pyo;Kim, Daeik;Ryoo, Keon Sang
    • Journal of the Korean Chemical Society
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    • v.61 no.6
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    • pp.339-345
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    • 2017
  • Carbonaceous adsorbent (CA-WTP) was prepared by heat treatment at $400^{\circ}C$ for 2 h in N2 atmosphere using waste tire powder (WTP). WTP and CA-WTP were first characterized by thermo-gravimetric analysis (TGA), energy dispersive X-ray spectrometer (EDS), scanning electron microscopy (SEM), specific surface area analysis (BET) and FT-IR spectroscopy. Then, they were tested as adsorbents for removal of Cd in water. CA-WTP exhibited much higher specific surface area and total pore volume than WTP itself and showed higher adsorption capacity for Cd. Equilibrium data of adsorption were analyzed using Freundlich and Langmuir isotherm models. It was seen that both Freundlich and Langmuir isotherms have correlation coefficient $R^2$ value larger than 0.95. The results of studies indicate that CA-WTP developed from WTP by heat treatment could be used as efficient adsorbent for the removal Cd from water.

Implementation and Performance Evaluation of Transaction Protocol for Wireless Internet Services (무선 인터넷 서비스를 위한 트랜잭션 프로토콜의 구현과 성능평가)

  • Choi, Yoon-Suk;Lim, Kyung-Shik
    • Journal of KIISE:Information Networking
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    • v.29 no.4
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    • pp.447-458
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    • 2002
  • In this paper, we design and implement Wireless Transaction Protocol(WTP) and evaluate it for wireless transaction processing in mobile computing environments. The design and implementation of WTP are based on the coroutine model that might be suitable for light-weight portable devices. We test the compatibility between our product and the other products such as Nokia, Kannel and WinWAP For the evaluation of WTP, we use an Internet simulator that can arbitrary generate random wireless errors based on the Gilbert model. In our experiment, the performance of WTP is measured and compared to those of Transmission Control Protocol(TCP) and TCP for Transactions. The experiment shows that WTP outperforms the other two protocols for wireless transaction processing in terms of throughput and delay. Especially, WTP shows much higher performance In ease of high error rate and high probability of burst errors. This comes from the fact that WTP uses a small number of packets to process a transaction compared to the other two protocols and introduces a fixed time interval for retransmission instead of the exponential backoff algorithm. The experiment also shows that the WTP performance is optimized when the retransmission counter is set to 5 or 6 in case of high burst error rate.

Determination of Nursing Price using Willingness to Pay (지불용의접근법을 이용한 간호서비스의 가격결정)

  • Ko, Su-Kyoung;Park, Jeong-Young
    • Journal of Korean Academy of Nursing Administration
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    • v.7 no.2
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    • pp.205-221
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    • 2001
  • It will become more and more popular to use the long-term care facilities and home health care services with the chronic disease increasing. It depends on how much the consumers would pay and purchase the services. They might get more benefits from that kind of services than from ordinary hospitalization. So far, the study of determining the medical service price has focused most often on the efforts from the providers' view. But it must be reasonable to include the consumers' value for the service. This study was performed to assess WTP(Willingness to Pay) for home health care service in order to apply to the determination of nursing price in a reasonable manner. In this study, respondents were asked if they would pay for the service's intangible benefits under the four different types(open-ended minimum WTP, open-ended maximum WTP, bidding WTP, referendum WTP). The contingent valuation method is a potentially useful tool in understanding how people value the benefits of the service. As a result, average open-ended minimum WTP was W16,015 per day among 65 respondents. Average open-ended maximum WTP was W29,154 per day among 65 respondents. Average bidding WTP was W26,300 per day among 65 respondents. Average referendum WTP was W22,200 per day among 70 respondents. The results of regression analyses were also consistent with theoretical prediction, e.g., increasing WTP with consumers' value for the service, state of patients, and household income. This study demonstrated that it was more reasonable to consider the consumers' value in determining the services' price. In addition, a further study is needed to test the validity of this CV method and to determine a proper nursing price based on the consumers' view.

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Spatial Difference in the Willingness to Pay for Renewable Electricity (RPS 도입시 재생에너지 전력에 대한 소비자 선호 연구 : 지역별 차이를 중심으로)

  • Kim, Jihyo;Park, Jung Kyu;Kim, Jinsoo;Heo, Eunnyeong
    • Environmental and Resource Economics Review
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    • v.20 no.4
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    • pp.797-826
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    • 2011
  • This study analyzed whether a spatial difference exists in the willingness to pay(WTP) for renewable electricity, by applying the contingent valuation method(CVM). Considering renewable portfolio standards(RPS) as the hypothetical market, we asked WTP in the form of the monthly electricity bills for using renewable electricity; the respondents were people living in Seoul, Ulsan, JeollaNamdo, and Gangwondo. Our empirical results showed that the mean WTP of Gangwondo was the highest, and that of JeollaNamdo, the lowest. The hypothesis that the WTP of the entire sample would not differ from that of the individual regions was rejected. Hence, a spatial difference probably exists in the WTP for electricity from renewable energy. Further, we attributed the spatial differences in WTP to the experience of those staying near the renewable energy facility and the acceptability of the facility.

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Contribution Value Estimation on Rural Community by Multi-cultural Family Effect Using WTP (WTP를 이용한 다문화가족이 농촌사회에 미치는 다양한 영향 및 기여가치 평가)

  • Yang, Soon Mi
    • Journal of Agricultural Extension & Community Development
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    • v.20 no.3
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    • pp.701-727
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    • 2013
  • To estimate the WTP(Willingness to Pay) for consistent maintenance of rural multi-cultural families' contribution worth such as vitality of rural population, regional economic vitalization, cultural diversity of rural, maintenance of rural family society, and diversity of rural resource, a questionnaire survey was conducted by double-bounded dichotomous choice method based on Weibull model in 41 city county of rural. A estimation models based on Tunball models were developed and applied to WTP estimation with logistic analysis. WTP estimates for consistent maintenance of multi-cultural contribution worth by rural resident was 458 hundred million won. It means that each rural household can pay 13,840 won per annual. WTP estimates assessed by multi-cultural families' husband as a criteria for comparison was 502 hundred million won. It means that each household can pay 15,170 won per annual.

Business Model Evaluation based on WTP Model: Pricing-by-rating(PBR) as the Baseline of Pricing Policy and a Criterion of Business Model Evaluation (WTP모델 기반의 비즈니스모델 평가: PBR, 가격책정과 비즈니스모델 평가기준)

  • Kim, In-Ho Stephen;Ku, Tae-Yong Daniel
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.11 no.2
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    • pp.157-165
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    • 2016
  • To provide the baseline for pricing, this paper proposes pricing-by-rating (PBR) as pricing model at micro-foundations level that can work as the baseline for all pricing models as well as an assessment criterion of business model in all circumstances. It sets up firstly WTP (willingness to pay/purchase) model from explicit needs and develops PBR based on the ordinal scale of the difference between the WTP and the WTS (willingness to supply/sell) by comparing individually the corresponding element/component of a firm's actual marketing mix 4P with that of the best SPEC (solution, price indicator by WTP, encouragement, channel) as an ideal 4P a customer expects and also by comparing the interaction between the 4P and the best SPEC as a whole collectively. And through illustrations it shows its applicability to evaluating business model in practice and finally asserts that PBR works as the baseline for pricing policy and as a criterion of business model evaluation in any circumstances.

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Characteristics of water treatment plant sludges on raw water source (취수원별 정수장 슬러지의 물리화학적 특성)

  • Moon, Yong-Taik;Kim, Byung-Goon
    • Journal of environmental and Sanitary engineering
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    • v.21 no.3
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    • pp.37-43
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    • 2006
  • Recently, needs for reuse of sludge produced from WTP(water treatment plant) have been increased with shortage of landfill sites and difficulties of the treatment and disposal processes. Therefore, Reusing is becoming an Increasingly popular waste management alternative to divert waste from landfills. In order to research the characteristics of WTP sludges, we used the sludges of C WTP which intake the lake Dae-Cheong and the sludges of S WTP which intake Keum river, The specific surface area of C and S WTP sludges were $0.9986m^2/cc\;and\;1.874m^2/cc$, respectively. The gravity was about $2.0{\sim}2.4$ which are scope of peat or loamy clay. The major minerals of C WTP sludges were kaolinite(48.4%), muscovite(19.5%), and quartz(16.7%). Also, muscovite(31.6%), quartz(30.3%), and kaolinite(17.3%) in S WTP sludges were major minerals.

Empirical Analysis on the Disparity between Willingness to Pay and Willingness to Accept for Drinking Water Risks : Using Experimental Market Method (비시장재에 대한 WTP와 WTA 격차에 대한 실증분석 : 실험시장접근법을 이용한 음용수 건강위험을 사례로)

  • Eom, Young Sook
    • Environmental and Resource Economics Review
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    • v.17 no.3
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    • pp.135-166
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    • 2008
  • This paper reports the empirical results of comparing the willingness to pay(WTP) for health risk reductions and the willingness to accept(WTA) for risk increases using experimental market methods in the first time in Korea. Health risks were defined as probabilities of premature death from exposure to one of As, Pb, and THM in tap water. A total of six experimental markets with 15 participants in each experiments were held using 20 repetitive Vickrey second-price sealed-bid auctions. To compare the effects of market experiences, trading a marketed good, candy bar, was introduced before the trading the non-marketed good, drinking water risks. Moreover, an objective risk information was provided after the first 10 trials to incorporate learning processes. Regardless of marketed or non-marketed goods, the mean of WTA exceeded the mean of WTP at the first auction trial. As experimental trials proceeded, the disparity between WTA and WTP for marketed goods disappeared. However results for non-marketed goods were rather mixed to the extent that WTA for health risks from As (relatively high risk leves) were significantly larger than WTP, while there were no significant difference between WTA and WTP for health risks fro Pb and THM (relatively low risk levels). On the other hand, participants seemed to respond in a 'rational' manner to the objective risk information provided, with positive learning effects of market-like experience(especially in the WTA experiments).

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