• Environmental and Resource Economics Review
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• v.16 no.3
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• pp.451-483
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• 2007

Recently, the problem of noise has received much attention in the urban environment. This paper attempts to measure the economic benefits of urban noise reduction in the metropolitan area. To this end, the dichotomous choice contingent valuation method is applied. In particular, recently proposed one and one-half bound model that reduces the potential for response bias in the double bound model while maintaining much of its efficiency. We surveyed a randomly selected sample of 800 households in the metropolitan area and asked respondents questions in person-to-person interviews about how they would willing to pay for the noise reduction. Respondents overall accepted the contingent market and were willing to contribute a significant amount (997 to 1,778 won), on average, per household per month. This willingness varies according to individual characteristics such as concerns about noise, dwelling area, and income. The aggregate value of the noise reduction in the sampled metropolitan area amounts to approximately 79.26 to 141.35 billion won per year.

• Journal of Ocean Engineering and Technology
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• v.20 no.6 s.73
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• pp.108-113
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• 2006

For the past scores of years, our country has driven its land development toward economic growth as its top priority. ut, as a result that almost all developments been promoted excepting environmental values, in fact, they've incurred some bad environmental effects desirable. Especially, as representative examples, we can raise some issues such as damages of the foreshore or coast wet lands by seas reclamation, and coast corrosion by building up of rivers or coast constructions. Recently, many people started to have great interests in businesses of environment preservation or recycling to minimize effects of these environmental matters. However, before beginning public businesses of non-commercial goods relevant to the seas environments, there seemed to be some limitations that can not accomplish under consideration of environmental sides at the same time while performing economic validities and efficiencies with environmental economic analysis, which is already effective in countries advanced in environment, it's a very meaningful course in that citizens' opinions are being influenced in seas environmental policies for their efficient execution. In this research, after modeling coast corrosion preventives with Jeong-am coast of Gangwon Province, and using Contingent Valuation Method being widely used of value measuring methods on Non-commercial goods, we've appreciated environmental economy's validity of construction works and the scale of environmental economic value of beach restoration work.

• Journal of the Korean Society of Marine Environment & Safety
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• v.28 no.5
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• pp.681-691
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• 2022

Zostera marina (ZM), a type of seagrass registered as a marine protected species in South Korea, provides valuable ecosystem services to humans, such as improving marine water quality, providing food, spawning grounds and habitats for marine life, and absorbing carbon dioxide. Therefore, the government is seeking to preserve ZM by designating ZM-protected areas. This study examined the public willingness to pay (WTP) for the preservation of ZM using contingent valuation. The one-and-one-half-bounded model was adopted for WTP elicitation, and the single-bounded model was also applied for comparison. The spike model was employed to deal with many zero WTP responses. The household average WTP was estimated as KRW 4,087 per year, securing statistical significance. The national value was KRW 84.1 billion per year. The preservation value of ZM estimated in this study can be used as important data for economic analysis of various projects or policy implementation for its preservation.

• The Journal of the Korea Contents Association
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• v.11 no.6
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• pp.438-448
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• 2011

The purpose of this paper is to enrich storytelling contents for culture and tourism industry and provide the implication for carrying out governmental policy by estimating economic value of storytelling using a Contingent Valuation Method. The empirical result shows that the economic value of storytelling development in culture and tourism industry is annually estimated 16,000 won per person, resulting from logit model and WTP mean method. The willingness-to-pay, degree of support and perception of the policy and culture contents expenditure have meaningful effects on probability of supporting and participating in execution of the policy. The findings imply that the economic value of storytelling development highly increases as the interest and expenditure of culture contents increase. Futhermore, informing storytelling related policy and business to the people will increase economic value of fostering storytelling-based culture and tourism.

• Journal of Korean Society of Water and Wastewater
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• v.28 no.5
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• pp.561-571
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• 2014

The paper is to estimate willingness-to-pay (WTP) for tap water quality improvement in Busan, using parametric approach in contingent valuation method(CVM). For parametric approach linear logit model and log logit model are employed in double-bounded dichotomous choice format of CVM. 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 the tap water quality improvement in Busan was estimated to be 3,687 won and 3,660 won per month per household, while median WTP being 1,884 won and 1,892 won per month per household, respectively by linear logit model and log logit model. 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 29.7 billion won to 29.8 billion won based on median WTP.

• Korean Journal of Environment and Ecology
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• v.28 no.1
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• pp.71-79
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• 2014

The goal of this study is to estimate economic benefit of restoring ecological stream of Hong Cheon river. The benefit is determined by estimating willingness-to-pay for the value of Hong Cheon river because it is a non-market good which is difficult to be measured in terms of monetary value. Specifically, the spike model, one of the contingent valuation methods, is used to distinguish respondents having zero willingness-to-pay for Hong Cheon river. The results show that a household located near the Hong Cheon river is willing to pay 3,300~4,628 Korean Won per year, while a household not located near the Hong Cheon river is willing to pay 1,308~2,929 Korean Won per year. Thus, total benefit of restoring ecological stream of Hong Cheon river is estimated as 97.6~216.3 billion Korean Won.

• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.14 no.1
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• pp.103-111
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• 2015

The purpose of this study is to estimate the appropriate Demand Responsive Transport (DRT) fare for bus users upon introduction of the system, which is to improve ridership on economically non-profitable routes and to conform to the mobility right of those living in presently non-serviced rural areas. For this, a stated preference (SP) survey was adopted to assess respondents' preferences regarding DRT introduction, while the contingent valuation method (CVM) was used to calculate their willingness to pay (WTP) for DRT services. The analysis results show that, compared to the existing bus services with a 1,000 won bus fare, the value of DRT is considered to be 38.85%, 31.03% and 30.12% higher in terms of overall assessment, usability and convenience, respectively. The results of this study are expected to facilitate the decision making aimed at setting the appropriate DRT fare and implementing a DRT system that meets sustainability requirements.

• Journal of Korean Society of Transportation
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• v.29 no.3
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• pp.61-72
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• 2011

In the benefits of ITS, there are intangible gains from real-time traffic information as well as classical gains such as travel time saving. These intangible gains are difficult to be estimated by existing transportation investment appraisal commonly used in SOC investment. The major reason is not because of the absence of methodology but because of the absence of generalized values of particular benefits from real time traffic information. This research explores the value of real-time traffic information on VMS that is the most representative of ITS services, by using CVM with Double Bounded Dichotomous Choice Question. Willingness-To-Pay (WTP) functions of drivers are built with survival functions using various types of probability distribution functions such as Exponential, Log-logistic, and Weibull functions. The results reveal that Log-logistic distribution is the most appropriate distribution model to estimate WTP, and the estimated coefficients are stable through LR (Likelihood Ratio) test. For the further study, it is recommended to perform statistical tests of temporal and spatial transferability that is not examined in this research due to the lack of data.

• Environmental and Resource Economics Review
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• v.14 no.1
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• pp.75-100
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• 2005

This study attempts to empirically investigate the respondents' preference uncertainty involved in stating their willingness to pay (WTP). In the contingent valuation (CV) survey, we employed two approaches using two split samples. The respondents of one sample were given the opportunity to express intensity of preference through polychotomous choice (PC) WTP question. Those of the other sample were given a follow-up question of confidence measure (0~100%). By incorporating the two elicited degrees of preference uncertainty into examining the WTP responses, we take a comparison of the two approaches in terms of the goodness-of-fit of the examination and the efficiency of the mean WTP estimates. In comparing the DC model with the PC models, the DC model provides more efficient estimates. Moreover, the conventional DC model give some gains in terms of the goodness-of-fit and efficiency in comparing with the PC model most similar to this model. In this specific study, incorporating the preference uncertainty in DC model results greater estimates than conventional DC model without loss of goodness-of-fit and efficiency. This implies that the consideration of preference uncertainty on DC model could correct underestimating. We conclude that DC model provides a better estimate of WTP and preference uncertainty could be a critical information on the DC-CV estimation.

• Journal of Korea Technology Innovation Society
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• v.16 no.3
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• pp.630-649
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• 2013

Korea Meteorological Administration has promoted the next generation urban and rural smart weather service project. The purpose of this project is to provide the necessary information to urban and rural districts by using the subdivided meteorological information. This study attempts to assess the value of the next generation urban and rural smart weather service project by using contingent valuation method. According to estimating result, annual mean willingness to pay per household for the next generation urban and rural smart weather service project is 2,947 won.