• Environmental and Resource Economics Review
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• v.14 no.3
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• pp.673-697
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• 2005

The purpose of this paper is to estimate the total damage cost (i.e., individual welfare loss) due to dust-sand storm (DSS) in Korea, using contingent valuation method. CV market scenario is designed to elicit individual WTP for reducing the currently 14 days of average DSS per year by 50 percent. Question about the shares of various types of damage costs are directly asked after the respondent answered about his or her WTP in CV questionnaire. The yearly damage cost due to DSS is 29,510 won(95% C.I. 24,565~35,452won) in the case of an individual, therefore amounts to 444.1 billion won(95% C.I. 407.3~481.0 billion won) for the whole nation. The cost of amenity reduction counted as 33.8% is 150.1 billion won(95% C.I. 137.7~162.6 billion won); the cost of increase in morbidity counted as 36.6% amounts to 162.5 billion won(95% C.I. 149.1~176.0 billion won); the cost of averting behaviors counted as 14.5% is 64.4 billion won(95% C.I. 59.1~69.7 billion won); and the cost of car wash, activity restriction and so on, which was counted as 15.1%, amounts to 67.1 billion won(95% C.I. 61.5~72.6 billion won).

• Journal of Navigation and Port Research
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• v.43 no.3
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• pp.166-171
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• 2019

Aids to Navigation(AtoN) Accident can reduce the credibility of AtoN by adding extra works to the administrators, and cause burdens and inconveniences to the users during their navigation leading to social costs (or economic losses). Prior research on social cost estimation model to determine the Encounter cost, Administrative cost and Risk cost on the Aton model was done to estimate the economic losses due to AtoN Accident. However, this research could not provide adequate study results on risk cost estimates. Therefore, this study complements the estimation model presented in the previous study, and the estimated social cost of 249 AtoN Accidents that occurred during the last 10 years (2008-2017) in the Busan Regional Office of Oceans and Fisheries jurisdiction area. The risk cost was estimated using contingent valuation method since the AtoN is a non-market goods. As a result, the social cost of AtoN Accidents for the past 10 years was estimated to total 12.4 billion won including Encounter cost of 3.1 billion won (25.38%), Administrative cost of 1.7 billion won (13.62%), and Risk cost of 7.5 billion won (61.01%).

• Journal of Auto-vehicle Safety Association
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• v.14 no.4
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• pp.43-52
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• 2022

Recently, the government has been expanding the supply of hydrogen vehicles according to the roadmap for vitalizing the hydrogen economy, but is developing safety assessment and inspection technology for the relevant vehicles. This study analyzed the prevention of hydrogen bus accidents' economic effect that arises from the application and development of large-capacity CHSS oil pressure repetition-test assessment technology, hydrogen bus internal chamber pressure transmission and emission volume inspection technology, among various technologies capable of assessing the safety of a hydrogen bus fuel system. To this end, the contingent valuation method (CVM), one of the value evaluation methods of non-market goods, was applied to investigate users' willingness to pay for each inspection technology. The survey for users' willingness to pay was conducted by attaching posters to promote surveys on the internet and within buses to the entire public. As a result of the analysis, the average WTP of the hydrogen bus internal chamber pressure transmission volume inspection technology was 25.3 KRW, the average WTP of the hydrogen bus internal chamber pressure emission volume inspection technology was 18.6 KRW, and the average WTP of the large-capacity CHSS oil pressure repetition-test assessment technology was measured at 16.7 KRW. In addition, the costs and benefits of the introduction of the relevant inspection technology were defined through the interviewing of experts at related research institutions and businesses. As a result of conducting an economic analysis (4.5% discount rate) according to the development of each inspection technology, economic feasibility was seen in all assessment and inspection technologies. As much as the technology is indispensable for the safe use of hydrogen buses, it shows that investment in related technology is very necessary in the future. However, because it was decided that the relevant analysis will differ according to the distribution rate of hydrogen buses, further analysis following this future distribution rate of hydrogen buses is needed, and future users should be made clearly aware of the safety and environmental nature of the technology.

• Journal of Korea Technology Innovation Society
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• v.14 no.1
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• pp.40-59
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• 2011

Korean government is driving the large telescope development project to improve the level of astronomical research. The objective of this study is to assess the economic effects of Korean large telescope project by employing a contingent valuation method (CVM) to provide policy-makers with useful and responsible information. According to estimating results, annually willingness to pay per household is 1,416 Korean Won. Consequently, the annual benefit of large telescope project is about 240.8 billion Korean won. This result contributes to provide policy makers with the quantitative information and for economic feasibility.

• Journal of Korea Technology Innovation Society
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• v.7 no.3
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• pp.657-679
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• 2004

The purpose of this paper is to measure economic impact of marine environment conservation research development project. Benefit-Cost(B/C) analysis and Contingent Valuation Methods(CVM) are used to valuate the benefits from the research development projects. A period of three years for research development fund is considered as a part of the costs and adjusted to the net present value (NPV) of the 2002 ending period. The environmental charges for marine environment improvement are considered for the benefit measurement. The benefits are estimated by using monthly average willingness to pay, which is 2,289 Korean won. The contribution of the developing a management model for environmental pollution in the Gwangyang Bay is evaluated utilizing survey data and information. Based on the assessment by expert groups, the contribution of the model was 37.5％. The research results showed that B/C ratio is 20.61, NPV is 89,200 million Korean won, and social rate of return is 185.7％. When the level of contribution is over 1.83％ at the assessment of potential influence, it is recognized to be economically feasible. This research presents a quantitative framework for Research and Development projects for marine environment conservation, and it can be applied to decision making for the investment size of R&D projects.

• Journal of the Korean Society for Geothermal and Hydrothermal Energy
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• v.17 no.4
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• pp.1-14
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• 2021

Recently, various renewable systems have been developed and applied in Korea. However, there are many systems which were not utilized in real buildings or not widely spread in the market. Furthermore, the attention of most users focused on several certain system such as PV or solar system. Therefore, this research aims to find user's needs for renewable energy based on perception surveys to improve the acceptance of technology in line with the world's energy flow. The survey was conducted by classifying respondents by various criteria, and the results were analyzed using AHP technique and CVM technique, focusing on preference and acceptance. According to the results of the survey, it was found that the people felt the need for renewable energy but lacked knowledge about renewable energy compared to the various government-implemented renewable energy supply policies. Therefore, a government-level policy is needed so that the people can have universal knowledge about renewable energy system.

• Environmental and Resource Economics Review
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• v.14 no.2
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• pp.337-379
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• 2005

This choice experiments study values the non-market benefits of water quality improvements in Paldang Reservoir and Han River, located in Korea. A fractional factorial orthogonal design was used to produce four different choice sets per respondent, before employing choice examples to screen out irrational responses. The panel mixed logit model (with normal distributions for the attributes) fit the data best, indicating that allowing for both heterogeneous preferences across households and correlation between repeated choices may represent actual choice behaviors best of all the estimated models. The significant standard deviations of the random attributes suggest that the taste for each attribute may vary considerably in the population. The annual benefits to the Seoul Metropolitan area for a small (large) enhancement of the clarity of water, a gradual removal of unpleasant waters, and a gradual improvement in biodiversity, were estimated to be some 1.5 trillion (1.7 trillion) Won, 2 trillion Won, and 1.7 trillion Won, respectively, with 1.8~2.6 trillion Won for at least two of them occurring together. The study also discusses potential biases germane to choice experiments studies of this type.

• Environmental and Resource Economics Review
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• v.18 no.3
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• pp.495-521
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• 2009

This paper measures welfare losses from beef consumption reduction, which might be resulted from psychological anxiety about potential outbreak of BSE (commonly known as "bad cow dieses") risks after announcement of resuming US-beef imports in April of 2008. Unlike the previous literature of utilizing the contingent valuation method or experimental market approach, this study estimated quality-differentiated consumer demand functions using the information of self-reported beef consumption quantity, individually constructed price indices of beef, and subjective perception of BSE risks. The empirical results based on a survey sample of 360 residents in Jeon Ju city were consistent with the anticipation from economic theory, in terms of coefficients of own prices, substitute prices and income variables. The announcement of resuming US-beef imports did not make significant differences in the sign and sizes of the main economic variables. However, the subjective perception variable about BSE risks had negative significant impacts on beef demand functions after the announcement but not significant before the announcement. The welfare losses in a form of equivalent variation (EV) corresponding to the increases in concerns about BSE risks were measured to be about 30 thousand won per household.

• 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.

• International Journal of Highway Engineering
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• v.18 no.5
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• pp.75-82
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• 2016

PURPOSES : This study was initiated to estimate the benefits from the campaign to prevent drowsy driving crashes on expressways. The study was conducted by the Korea Expressway Corporation using a contingent valuation method. METHODS : First, a questionnaire was designed for a preliminary survey. From the survey's results, the initial willingness to pay for the campaign was determined by averaging different amounts of payments chosen under virtual scenarios in the survey. The willingness to pay data was used to find a first bid price for the open-ended method used for the second survey. After that, a primary questionnaire was designed and conducted using a single dichotomous choice question (SDBCQ). Drivers at expressway resting areas were asked their willingness to pay for the campaign. Based on statistical analysis using data collected from the second survey, the mean willingness to pay was estimated using a probability utility function. Finally, the benefit from the campaign was calculated using the estimated willingness to pay and accident data on expressways. CONCLUSIONS : Based on the result from the contingent valuation method, the benefit from the campaign to prevent drowsy driving crashes was estimated to be 170.6 won per expressway trip. The benefit is to be paid as an additional toll. In addition, the traffic crash cost estimate is about 2,209,680,000 won less than the cost during the same period in 2014.