• Design Convergence Study
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• v.16 no.3
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• pp.17-37
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• 2017

The purpose of this study is to evaluate the value of the center of age-friendly goods to confirm the public value of the center. 152 elderly participants, either who have utilized the center themselves or who have experienced the center indirectly through the image have participated in the study. The experience of age-friendly product center was evaluated by the contingent valuation method, which is widely used in the public services. A double-bounded dichotomous choice (DB-DC) log-logistic model and a log-normal model were conducted. As the result of the estimation, the truncated mean of the log-logistic model was 3,401 Korean won, with the mean of 4,937 won. In addition, the truncated mean of the log-normal model was 3,433 won, with the mean of 4,144 won. Elderly who have not experienced the center placed a higher value on the center, compared to the experienced elderly. The results imply the necessity to enlarge the opportunity for future suppliers to experience the center for age-friendly products, in order to improve their objective understandings. In addition, the necessity of expanding exhibition products and applying age-friendly designs is proposed, to offer various attractive experiences to elderly.

• Journal of the Korean Institute of Landscape Architecture
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• v.37 no.5
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• pp.42-52
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• 2009

Recreational forests are catching on as places for personal development through recreation, association with people, education about nature, mind relaxation and spiritual peace. However, the value and significance of recreational forests with various functions are easily overlooked. Whoever pays fees for admission to facilities are able to enjoy fresh air, a comfortable environment, and space for rest. It should be taken into consideration whether the fee which customers pay is appropriate for the value of nature they are enjoying. This study is involved in giving the right recognition to the value of recreation and environment by estimating economically the value of the environment in which visitors stay, and presenting the appropriate price. The most efficient way to achieve this goal is through an economic approach, which suggests following established research skills and yielding suitable and accurate amounts of money. The environmental value of a recreational forests is estimated through contingent valuation method(CVM), which is chosen among several methods to estimate public facilities because the value of recreational forests has strong characteristics as public facilities which are not traded in the market. The annual recreation value per person of surveyed recreational forests is Willingness To Pay(WTP) with a mean between about 16,000 won and 25,400 won. The recreation value of one recreational forest surveyed is annually between approximately 1.7 billions won and 2.7 billions won. The annual recreation value of 85 national and public recreational forests is presumed to be between about 140 billions won and 230 billions won. The presumed amount of money is the environment in which visitors can enjoy whenever they invest some money and time. Indeed, it is more than that; it provides visitors with a greater sense of satisfaction and the recognition of the preciousness of nature and the environment.

• Journal of Korea Water Resources Association
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• v.44 no.2
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• pp.125-134
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• 2011

The paper is to estimate willingness-to-pay (WTP) for residential water quality improvement in Busan, using non-parametric approach. There are several significant advantages of non-parametric approach, compared to parametric methods. That is, no probability distribution assumption is necessary so that there are no needs to assume or test goodness of fit, model specification and heteroscedasticity statistically. For the reliability and the validity of contingent valuation method a survey was conducted for 665 respondents, who were sampled by stratified random sampling method, by personal interview method. The result of mean WTP for residential water quality improvement in Busan was estimated to be 3,190 won to 3,331 won per month per household, while median WTP being 1,750 won. Provided that our sample is broadly representative of the Busan's population, an estimate of the annual aggregated benefit of residential water improvement for all Busan households is approximately 50.2 billion won in case of mean WTP or 27.5 billion won in case of median WTP.

• Journal of Korea Water Resources Association
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• v.44 no.8
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• pp.629-637
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• 2011

This study tried to estimate the environmental value of Youngsan river estuary as there are conflicts on the management policy about Youngsan river estuary. For estimating the detailed functional values of Youngsan river estuary, this study used the contingent valuation method with multi attribute utility theory for. In addition, the survey was separately practiced to on-site and off-site. According to estimating results, the annual value of Youngsan river estuary is about 27.4 billion Korean won. The results of this study are expected to contribute to determine the appropriate level of investment and management policies with regard to the estuary and to provide methodological guidelines for follow-up study.

• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.17 no.1
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• pp.17-30
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• 2018

Currently, the global climate change response paradigm has been changed to a universal response system in which all nations, not the developed countries, participate. Korea has also set a target of 25.9 million tons of transportation greenhouse gas reduction targets by 2030. Korean society is expected to enter the super aging society in 2026. In this study, to reduce the greenhouse gas emissions in public transport and to improve the convenience of transportation vulnerable, we estimate the willingness to pay(WTP) and social benefits assuming that the existing feeder buses are replaced with medium-sized low floor electric buses. To this end, survey was conducted on bus users in the metropolitan area and WTP was estimated by using contingent valuation method(CVM), which is one of the non-market value evaluation methods. As a result of estimation of WTP, the average WTP is 51.4 (won / time person), estimated the economic benefits were 50 million won on weekdays and 40 million won on weekends in Gyeonggi Province in 2014.

• Journal of the Korean Society of Marine Environment & Safety
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• v.20 no.2
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• pp.130-142
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• 2014

The Korean government is considering implementation of the marine ecosystem restoration technology program (MERTP) to analyze the current status of the marine ecosystems and causes for the ecosystem deterioration as well as to eventually establish a master strategic plan for restoring ecosystem functions and preventing ecosystem functional loss. In order to determine likelihood of successful implementation, it is essential to perform an analysis of the economic feasibility of the program. The present study assessed economic feasibility of the MERTP. To this end, the dichotomous choice contingent valuation (CV) method is used. In particular, dichotomous choice (DC) format is employed as a method of eliciting willingness-to-pay (WTP) response to incentive-compatible mechanisms. The study also employed the spike model to deal with zero WTP responses from the DC CV survey. This survey of 1,000 randomly selected households in accordance with the guidelines provided by the National Oceanic and Atmospheric Administration (USA) was carried out nationwide in 2013. And, the respondents were asked in person-to-person interviews about their WTP for implementing the MERTP. The results showed that the annual mean WTP was estimated to be 5,414 won per household. Consequently, the annual benefit from the MERTP would be about 98.6 billion won for the next five years. Economic feasibility assessment utilizing the MERTP investment cost and expansion cost of the value provided that net present value, benefit/cost ratio, and internal rate of return are 337.8 billion won, 5.20, and 65.9 %, respectively, which are bigger than 0, 1.0, and 5.5 %, and that the MERTP passes the cost-benefit analysis.

• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.14 no.6
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• pp.50-59
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• 2015

This study aimed at suggesting Willingness To Pay (WTP) for introduction of the Traffic Accident emergency Call (TAC) system by using Contingent Valuation Method (CVM) which is a general valuation method. As the method, this study suggested a WTP estimation method of the TAC system with the double-bound dichotomous choice model. In previous studies, the data are processed differently according to the type of questions and analysis models used for the calculation of willingness to pay. Therefore, we re-organized the model by the cases using the truncated data sets, and showed the difference in WTPs. The dataset was developed by more than 500 questionnaire obtained from online and offline survey with the consideration of composition ratio by age group referring housing census in 2010 to mitigate regional bias of samples. At last, this study applied various statistical methods, survival analysis, multiple regression, and Tobit model for better interpretation of the questionnaires.

• Journal of the Korean Regional Science Association
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• v.31 no.4
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• pp.25-45
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• 2015

The government has implemented the projects of restoring the ecological integrity of streams to improve its water quality and provide resting places with local residents. Because the projects require huge public investments, their economic feasibility should be investigated through ex-post examination of their benefits. This study attempts to analyze the economic feasibility of restoring the ecological integrity using specific cases of Namyang stream in Hwaseong, Gyeonggi and Yugu stream in Gongju, Chungnam. The contingent valuation (CV) method is employed to measure the benefits. To this end, a professional polling firm conducted two CV surveys of 210 and 209 households for Hwaseong and Gongju, respectively. The willingness to pay (WTP) model used in the study is based on utility difference approach and the single-bounded dichotomous choice spike model. The results reveal that the WTP for restoring ecological integrity of the Namyang and Yugu streams are estimated to be 3,140 and 10,121 won per household per year. Interestingly, the latter is about three times greater than the former. The quantitative information can be used in economic feasibility analysis of the projects of restoring the ecological integrity of the Namyang and Yugu streams.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.29 no.5D
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• pp.605-610
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• 2009

The either satisfaction levels or limits of tolerance levels felt by the users in the certain space/region should be examined for measuring social capacity on the total amount of vehicles. The reliability of measuring social carrying capacity depends primarily on decreasing the strategic responding biases. To induce the honest responses to preferences, Dichotomous Choice which is specifically known as the Double-Bounded Dichotomous Choice was adopted in this research to suggest the measurement methodology of social carrying capacity on the total amount of vehicles in U-do island. The empirical test was carried out the U-do island, an administrative district of Jeju Special Self-Governing Province. The number of vehicles satisfied by the 10% of residents was 390 and the satisfactory vehicle number was decreased to 132 extended to 90% of residents. This research, based on the political decision making criteria, set up the social carrying capacity in U-do island. The vehicle number satisfied by 50% of residents was 227, which meant the same number of residents turn to be supporter in case of political actions.