• Journal of the Korean Society of Marine Environment & Safety
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• v.19 no.5
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• pp.417-429
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• 2013

The current study attempted to assess the environmental value of Geum-river estuary for rational management decision-making. To investigate the comprehensive properties of the Geum-river estuary, we applied the contingent valuation method based on multi-attribute utility theory. We surveyed a randomly selected sample of 400 and 600 households of the Geum-river estuary-neighboring area (Jeollabuk-do, Chungcheongnam-do), and other nation-wide large districts (except Jeollabuk-do, Chungcheongnam-do, and Jeju-do), respectively, and carried out person-to-person interviews with subjects on their willingness-to-pay for the estuary conservation and management program. Respondents, overall, accepted the contingent market system and were willing to contribute a significant amount, that is 1,497 won for the residents from the Geum-river estuary-neighboring area and 4,343 won for the residents from other nation-wide large districts on average, per household per year. These results implied that there were large difference between the two groups. The aggregate values of the Geum-river estuary for the estuary-neighboring area and other nation-wide large districts amount to 2.13 and 70.15 billion won, respectively, per year. This quantitative value deduced from the current study, could be a useful baseline fact for any decision-making process particularly in the establishment of management policies for the Geum-river estuary.

• Journal of the Korean Society for Railway
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• v.20 no.1
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• pp.120-127
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• 2017

The South Korean rail authority is constructing a nationwide tourism belt by developing new rail tour routes in an effort to combine local tourism resources with rail service and to create value in regional areas. As massive financial resources are required to develop and operate such tourist trains, governing authorities are required to examine the feasibility of this project as a sound business model and to assess the public benefit and profitability of the project. In this study, the economic feasibility of the tourist trains was assessed with the contingent valuation method (CVM). According to an estimation of the willingness to pay of potential tour train passengers, the surveyed subjects were willing to pay fares that were higher than prices currently published at the time of this study, thereby demonstrating that the economic value they invest on tourist trains may be higher than published prices at the time. For instance, they were willing to pay 28.4% and 54.9% more for the O-train and V-train types, respectively, according to the study, suggesting that the quality as perceived by train passengers for tourist train services is relatively high. The study is significant in that it succeeded in quantifying the satisfaction level of tourist train passengers using quantitative data (additional funds people are willing to pay).

• Journal of the Korean Institute of Landscape Architecture
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• v.36 no.6
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• pp.12-21
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• 2009

This study focused on the estimation of econcmic value and the evaluation of attitudes toward plans for the establishment of a walking tour as a public service in the city of Gwacheon. A value analysis based upon 152 questionnaires returned by the residents of Gwacheon and 175 questionnaires from the users of Seoul Race Park in Gwacheon utilized a CVM(Contingent Valuation Method) approach to estimate use value, non-use value, and potential value. The results show that 69.8% of residents and 60.0% of Seoul Race Park users had an interest, 81.6% of residents and 89.7% of Seoul Race Park users agreed to the proposed plan, and 67.8% of residents and 69.7% of Seoul Race Park users expressed a willingness to pay an additional tax or admission fee. The estimated WTP for an additional resident tax per household/year is 11,721 won while it was an additional 750 won per admission for the Seoul Race Park user group. Based on these results, the estimated total economic value of all households/year and the user group over a period of 5 years is 9,997 hundred million won, which was a doubling of the 1.4 in value of total construction costs. The results of this study strongly support the establishment of a walking tour street plan as a public service commodity.

• Journal of the Korean Data and Information Science Society
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• v.23 no.5
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• pp.913-925
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• 2012

This study evaluates the economic benefit of the project constructing the international riding arena having been built at Sangju in Gyeongsangbuk-Do by the willingness to pay (WTP) of residents in the province. As the evaluation method, the dichotomous choice contingent valuation method (CVM) is adopted with the additional questions of whether his/her WTP is zero, to improve the statistical accuracy of evaluation results. Considering the arena's administrative location, the population of the surveys for analysis is confined to residents of Daegu and Gyeongsangbuk-do. The survey is conducted through personal interviews. It turns out that the WTP per household per year is evaluated as 1,847 won and the total yearly benefit of the Sangju international horse riding arena is estimated as 3.56 billion won.

• Korean Journal of Construction Engineering and Management
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• v.8 no.3
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• pp.168-176
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• 2007

This study aims to provide useful information when making a decision for the environmental and economic efficiency assessment of infrastructure, based on Life Cycle Assessment(LCA). It estimates environmental cost on environmental pollutants that are possible to happen by locations and by types of emergency spillway for korean multipurpose dam, which is selected as a study case. For this purpose, this study examines the theories of LCA and Contingent Valuation Method(CVM) and suggests an analysis model of environmental cost. To apply the suggested analysis model of environmental cost for infrastructure to the case study of emergency spillway at the multipurpose dam, this study calculates environmental load on environmental pollutants that generate during life cycle, converts it to a cost to predict environmental cost, evaluates environmental economy of emergency spillway by the estimated result, and draws the optimum alternative that is environmental-friendly and economic.

• 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.8 no.1
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• pp.1-26
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• 1998

효율적인 대기질 개선정책을 위해서는 비용-편익이 반드시 필요하다. 대기질과 관련된 편익은 건강영향을 비롯하여 시정장애, 심미적 가치, 물질피해 등 많은 영향이 존재하는데 그 중 건강영향이 대부분을 차지하는 것으로 보고되고 있다. 본 연구에서는 대기오염과 관련된 건강영향 중에서 눈이 따가운 증상, 가슴이 답답한 증상, 그리고 천식증상에 관하여 서울시민들이 부여하는 경제적 가치를 조건부 가치측정법을 이용하여 측정하였다. 그 결과 눈이 따가운 증상은 2,850원, 가슴이 답답한 증상은 9,000원, 천식은 5만 5,400원으로 측정되었다. 또한, 하나의 설문에서 여러 개의 CV 질문을 수행하는 경우, 일반적으로 추정하는 일변량 모형과 이변량 모형의 추정결과는 다르다는 것을 알 수 있었다.

• Environmental and Resource Economics Review
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• v.16 no.3
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• pp.427-449
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• 2007

This study estimates the recreation benefits of rafting on the Hantan River. A choice experiment is conducted and the economic values of controlling water stream and water quality are estimated. Both the conditional logit and the multinomial pro bit models are estimated. This study rejects the IIA assumption of the conditional log it model and supports using a more flexible model such as the multinomial probit model.

• Journal of Environmental Policy
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• v.14 no.1
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• pp.3-32
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• 2015

The critical temperature and the rate of increase in excess death caused by heat waves in the age group of 65 years and older are derived. The value of statistical life method was used to quantify economic damages, and the willingness to pay after 71 years of age for 10 years was measured based on the dichotomous choice contingent valuation method survey. The result shows about KRW 481,110,000 is required annually to reduce the possibility of death by climate change to 1/1000.

• Journal of Korea Technology Innovation Society
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• v.9 no.1
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• pp.131-148
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• 2006

With the rapid penetration of digital technology In recent years, there are growing expectations that many new services will soon become available. One of the new services is 3Dimension(3D) services, because our concern is concentrated on the quality of information that exceeds the digitalization of information. A stereoscopic technique for generating 3D images is contributed to raise the quality of Information and Communication Technology(ICT) service and is extensively applied to various fields. So 3D services, based on that technique, are expected to create a new market for ICT industry and provide significant benefits to consumers. The purpose of this paper is to analyze the consumer preference and evaluate the economic value of the 3D broadcasting service, so it provides propriety of the 3D technology development for market planners and product developers who need to assess the market potential of a product that is not yet available for actual test marketing. And it is useful for decision-makers in considering the provision of 3D services. In this paper, the gang survey was conducted to understand consumer preference of 3D services. And it attempts to apply the contingent valuation method(CVM) to measuring the willingness to Pay(WTP) for the 3D broadcasting service and analyzing the determinants of the WTP.