• Journal of the Korean Society of Marine Environment & Safety
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• v.24 no.1
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• pp.101-111
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• 2018

The Korean government has been trying to conserve a marine ecosystem that has been shifting due to climate change. As part of this effort, the government designated seventy-seven marine species that have been disappearing and deserve to be protected as endangered managing them specially. To generate basic data to guide policy for these endangered species, their value must be measured. OOf the species declared endangered, coral is particularly threatened by climate change, and its management is important. Accordingly, understanding the potential value of reefs, can be an effective way of proving the benefits of continuous management to decision makers and the general public alike. To this end, we have applied the contingent valuation method (CVM), an economic technique of for valuing a environmental and non-market goods such as a coral reef. A national face-to-face survey of 1,000 randomly selected households was conducted in order to determine the public's willingness to pay (WTP) for conserving coral reefs. A one-and-one-half-bound (OOHB) model was adopted to interpret WTP responses, and a spike model was employed to deal with zero WTP responses. The results show that the conservation value of a coral reef can be estimated at 3,016 won per household per year, statistically significant at the 1 % level. Expanding values to the national population gives an annual value of 58.9 billion won. We can conclude that the public is willing to pay a significant amount to conserve coral reefs.

• Environmental and Resource Economics Review
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• v.28 no.4
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• pp.645-673
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• 2019

The hypothetical nature of stated preferences can lead to a hypothetical bias that might work as a normative pressure, influencing survey responses. This paper aims to test the impact of social desirability bias by comparing economic estimates based on both subjective and objective valuation questions. The case study is about an urban riverine restoration project in Deajeon, South Korea. As valuation methods both contingent valuation and choice experiments were comparatively applied. Based on a nationally representative sample of 1,000 respondents, the test results offered contrasting conclusions between two test approaches. Accroding to the estimation results based on the conventional valuation, the marginal willingness to pay estimates are 10,500 KRW from CV; and 18,600 KRW for improving water quality, 2,200 KRW for the inside view, 8,900 KRW for the outside view, and 5,800 KRW for biodiversity from CE. A segmentation-based approach is a conventionally used method, which showed a limited impact of social desirability on willingness to pay estimates. The alternative parameterization-based approach measures a model-wide impact of social desirability, proving a significant bias. Although the study positioned a cheap-talk statement before the valuation section of the survey questionnaires, which might have pre-screened the bias, the overall implications of the results suggest a caution in reducing and observing hypothetical bias. There might remain a significant and substantial hypothetical bias even after cheap-talk, particularly in situations with strong social desirability, so that the potential role of objective valuation questions is guaranteed.

• 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.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.26 no.6D
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• pp.945-950
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• 2006

In implementing transportation projects, benefits have been estimated using conventional benefit components. However, these components have a lot of assumptions and limitations for benefit estimations and thus it seems to be difficult to obtain values of parameters as well as to overlook benefits of non-market goods in calculation process. In other words, current benefit estimations are considered that can be solely measured by directly depending on traffic volumes. Existing economic analysis do not reflect the full benefits, including direct and indirect of the project implementations. To illustrate this fact, bicycle road construction can result in various functional benefits, including improved quality of life, balanced regional development, and good scenery composition. These benefits can not be explained with conventional economic analysis. The objective of this research is to estimate valuation of bicycle road construction using Contingent Valuation Method (CVM). CVM can evaluate user's direct willingness-to-pay as well as maximize bicycle utilization with balanced regional development. This research used the coastline bicycle road construction project for example. The proposed method can be well calculated or estimated benefits for non-market goods of bicycle road constructions using CVM.

• Journal of Korean Society of Environmental Engineers
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• v.28 no.1
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• pp.74-80
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• 2006

Benefit transfer is a method, which obtains an estimate for the economic valuation of non-marketed commodities at a given site through the analysis of studies that have been previously carried out to value similar commodities at a different location. The objective of this study was to estimate benefit transfer values for the construction of the integrated sewerage system in the catchment area of dams in Korea. For pooled data analysis, five models were suggested in this study. Among five models, model 2 showed only 6 to 7% errors when the willingness-to-pay(WTP) predicted in the policy-site, Dam Soyang was compared with that estimated using contingent valuation method(CVM) in the study-sites, Dams Namgang, Hapcheon, and Daecheong. However, the WTP estimate predicted by model 1 showed the absolute errors of 42 to 47% when it was compared with WTP estimated using CVM in Dams Andong and Imha. It seemed that residents of Dams Andong and Imha have feeling of being victimized since two dams were constructed very adjacently, the upstream area was designated as drinking water source protection zone, and thereafter their developmental economical actions have been significantly restricted.

• Journal of Environmental Policy
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• v.6 no.2
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• pp.1-25
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• 2007

This paper attempts to measure the environmental value of the Seomjin-River estuary that has been comparatively well conserved but is confronted with the threat of its development. Especially, in order to elicit the environmental values of its four attributes, contingent valuation method(CVM) based on multi-attribute utility theory is applied and the CVM survey was rigorously designed to comply with the guidelines. for best-practiced CVM studies. We surveyed a randomly selected sample of 300 and 350 households in the Seomjin-River estuary-neighboring area(Gwangyang, Sooncheon, Yeosu, Hadong, Namhae) and seven large cities(Seoul, Busan, Incheon, Daegu, Daejeon, Gwangju, Ulsan), respectively and asked respondents questions in person-to-person interviews about what they would willing to pay for the estuary conservation and management program. Respondents overall accepted the contingent market and were willing to contribute a significant amount(5,763 won in the Seomjin-River estuary-neighboring area and 1,883 won in seven large cities), on average, per household per year, which implies that there is a large difference between the two. The aggregate values of the Seomjin-River estuary in the estuary-neighboring area and seven large cities amount to 1.52 and 14.05 billion won, respectively, per year. The quantitative values can be utilized in planning and decision-making about development versus conservation of the estuary.

• Journal of Korean Society of Forest Science
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• v.112 no.3
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• pp.322-330
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• 2023

Amid the recent intensification of climate change, the decline of subalpine coniferous species is evident. Accordingly, the Korea Forest Service is conducting research to establish conservation measures, identify the causes of the decline of subalpine coniferous species, and establish conservation strategies for seven species of conifers in the alpine region. This study used an economic value evaluation method to present objective data to inform the need for and value of conservation of endangered coniferous species through the recognition of endangered coniferous species and evaluation of conservation value among coniferous species conservation strategies in endangered alpine areas. A contingent valuation method was applied. As a result, the estimated conservation value per household of endangered alpine coniferous species was 49,181 won.

• Journal of the Korean Institute of Landscape Architecture
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• v.50 no.5
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• pp.1-12
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• 2022

COVID-19 led to an increased need for mountainous urban parks in the city that can be enjoyed while moving rather than staying put. However, studies on the economic value of mountainous urban parks have been insufficient. As a result, this study investigates the economic value of Gyeyangsan, a mountainous urban park located in the city, by quantifying the value of natural resources provided to residents and analyzing the factors affecting these values. The results are summarized below. First, according to the economic value assessment of Gyeyangsan, the use value was 2,210 won per person or 4.42 billion won per year, and the preservation value was 6,182 won per household, or 129.37 billion won. Gyeyangsan's total assets value was assessed as 3.68 trillion won. Second, according to the estimates of the willingness to pay and the determinants for the use-value, the frequency of visits, age, and use satisfaction significantly impacted the intention to pay for the use-value. Third, according to the estimates of the willingness to pay and the determinants for the preservation value, the intention to revisit, volunteer participation, educational level, gender, and residence significantly influenced the intention to pay for the preservation value. According to the findings of this study, it will be possible to make crucial policy implications when setting a direction for future park management by presenting a practical policy plan for the maintenance of mountain parks in downtown areas and will broaden the scope of research.

• Proceedings of the Korea Water Resources Association Conference
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• 2017.05a
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• pp.126-126
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• 2017

수도권 광역상수도는 관로 매설 이후 30년 이상 경과하여 수도관로 사고 발생빈도가 증가하고 있다. 이에 노후관로를 갱생하여 사고예방과 용수공급 안정성 강화를 도모할 필요가 있으며, 이러한 사업의 수행 여부에 대한 판단을 위해서는 사업 시행으로 발생하는 경제적 편익에 대한 정량적 정보가 필요하다. 노후관로 갱생사업의 경제적 편익은 크게 관로사고 피해저감 편익과 복구비용 절감편익으로 구분되는데 후자는 공학적 접근을 통해 비교적 쉽게 평가할 수 있는 반면에, 전자는 평가가 어렵다. 이에 본 논문에서는 조건부 가치측정법이라는 경제학적 기법을 적용하여 관로사고 피해저감 편익을 추정하고자 한다. 수도권 광역상수도 갱생사업의 수혜지역 주민 600 가구를 무작위로 추출하여 수도권 광역상수도 갱생사업이 시행되지 않을 경우 관로사고가 발생할 수 있음을 설명한 후, 관로사고를 막기 위한 지불의사액을 조사하였다. 분석결과 관로사고 피해 회피를 위한 가구평균 지불의사액은 톤당 약 41.7원이었다. 이 정보는 노후관로 갱생사업에 대한 의사 결정시 활용할 수 있다.

• Journal of Environmental Policy
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• v.5 no.3
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• pp.79-103
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• 2006

This paper attempts to examine household's willingness to pay (WTP) for piped water quality improvement in Wonju, where the local government are planning to implement a piped water quality improvement program. We apply a contingent valuation (CV) method to obtain at least a preliminary evaluation of the WTP. The CV survey was rigorously designed to comply with the guidelines for best-practiced CV studies. We surveyed a randomly selected sample of 250 households in Wonju and asked respondents questions in person-to-person interviews about how much they would be willing to pay for the program. Respondents overall accepted the contingent market and were willing to contribute a significant amount (1,583 to 2,776 won), on average, per household per month. This willingness varies according to individual characteristics such as sex, education level, and income. The aggregate value of the program in Wonju amounts to approximately 1.99 billion won to 3.49 billion won per year. The household values can be the benefits that ensue from the program and compared with the costs of the program to determine whether the program is economically desirable.