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

• Journal of the Korean Society of Marine Environment & Safety
• /
• v.24 no.4
• /
• pp.451-458
• /
• 2018

The coast of Incheon reaches Incheon itself, Gimpo, Siheung, and Ansan of Gyunggi-do. Because this area has been seriously polluted, the Ministry of Oceans and Fisheries has established the Incheon Special Area Management Plan (SAMP) to preserve sea water quality as a marine environment asset. However, there is concern that actions taken in this area may change the surrounding marine ecology, being effected by farms, via a river that flows from waste lands, abandoned fishing activities and fishing nets, etc. Given this background, this study estimates the value of SAMP sea water quality using a choice experiment (CE). A CE survey of 1,000 households was undertaken, investigating trade-offs involving price and four attributes for selecting a preferred alternative to obtain a marginal willingness to pay (MWTP) estimate for each attribute. The estimation results showed that MWTP for a 1 %p improvement in sea water quality, the diversity of fauna species, the diversity of flora species, and a 1 %p reduction in marine litter as a result of conserving Incheon coastal sea water quality are estimated to be KRW 75, 135, 309 and 72 per household per year, respectively. All estimation results were statistically significant at the 1 % level. These findings can provide policy makers with useful information for evaluating and planning marine environmental management policies.

• Environmental and Resource Economics Review
• /
• v.30 no.3
• /
• pp.395-433
• /
• 2021

This paper aims to examine the effects of homeownership and residential types on the economic values of urban green spaces. Green open spaces as public goods provide positive externalities that are comprised of pecuniary and technological externalities. Seoul, South Korea, is used as a case study using choice experiments, with split-sample online respondents of 1,000. The study results evidenced that the differentiation between the two types of externalities is imperative for equitable provisions and efficient management of various urban open spaces. There is a positively significant and substantial impact of homeownership for apartment dwellers, ceteris paribus, but not for house dwellers. For apartments, the efficiency loss can be reduced by increasing green spaces up to the critical point where the marginal cost is at equilibrium with tenants' marginal values. For non-apartment houses, it is not homeownership but the monthly household income that has a significant impact on the amenity value. In general, public benefits from green spaces are equivalent to 16% to 33% of the current residential prices on average for a view or access. Different residential types do not cause a significant impact on the access values. Residential profiles for green spaces were developed, together with tailor-made policy suggestions.

• Environmental and Resource Economics Review
• /
• v.32 no.1
• /
• pp.1-26
• /
• 2023

This study employs the dichotomous choice contingent valuation method to estimate the Value of a Statistical Life (VSL) and the Value per Statistical Case (VSCC) of cancer risk. In contrast to the previous studies, which presented the mortality risk probability directly, the study uses conditional probability, which combines the chance of getting cancer and dying from it. In addition, the study examines the impact of variables that may affect willingness to pay for reducing the risk of death from cancer and getting cancer, such as the impact on daily life and pain levels associated with cancer. The results indicate that the estimated cancer VSL ranges from approximately 952 million won to 3.359 billion won, while the VSCC is estimated to be between about 0.42 billion won and 2.72 billion won. The study finds a significant difference in the VSL depending on whether the reduction in mortality risk is from a decrease in the chance of getting cancer or a decrease in the chance of dying from cancer. However, the effect of impacts on daily activities and pain on willingness to pay is inconclusive.

• KSCE Journal of Civil and Environmental Engineering Research
• /
• v.26 no.6D
• /
• pp.945-950
• /
• 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 the Korean Society of Marine Environment & Safety
• /
• v.29 no.7
• /
• pp.794-801
• /
• 2023

The high seas, covering the majority of the world's oceans, hold invaluable marine resources crucial for the growth of the marine bio-industry. The High seas bioresources program of South Korea is at the forefront of these global efforts. This study aims to gauge public awareness and quantify the project benefits, offering insights for future policy decisions. The results revealed that the estimated annual average willingness to pay (WTP) was 3,778.8 KRW, equating to approximately 81.54 billion KRW when extrapolated to the entire national population. The implications of the study are twofold: The project benefits, based on WTP, are substantial, amounting to approximately 81.5 billion KRW annually. This provides critical reference material for future policy formulation, given the considerable WTP in comparison to the current investment. Although interest in international sea marine biological resources is growing, public awareness remains relatively low. However, the project plays a crucial role in building essential databases for the marine bio-industry and securing international sea marine biological resources. Public interest and sustained support are pivotal, not only for this project but also for future policy implementation. Strategies to enhance public awareness are essential, and the study results offer valuable input for future policy decisions.

• Korean Journal of Environment and Ecology
• /
• v.25 no.5
• /
• pp.787-798
• /
• 2011

An arboretum is defined as a collection of facilities that conserve plant species by surveying, collecting, and proliferating and preserving the plants in nature, perform diverse researches on plants and display the plants in exhibition spaces or outdoors as well as provide the public with educational programs and refreshment spaces according to the laws concerned. The public, however, recognizes the exhibition and education functions on plants of arboretum more importantly compared with the roles to survey, collect, and proliferate plants as regulated by the laws. In particular, arboretum plays a role to offer a pivotal educational place in urban area where the public can obtain an hands-on experience and understanding on a wide range of plant species and natural environment. The study aims to estimate the non market environmental values of Daegu Arboretum operated by Daegu Metropolitan City government by using the Contingent Valuation Methods (CVM), which yields the current monetary estimates for the arboretum. The value estimation was undertaken by using the Double-Bound Dichotomous Choice (DBDC) method, and each estimated value was derived from respective functions based on a logit distribution known to include relatively stable estimates according to the shape of the distribution. Considering the statistical fitness test results, the author estimated the amounts of the Willingness To Pay (WTP) such as mean WTP of 12,718 KRW, median WTP of 11,033 KRW, and truncated mean WTP of 11,468 KRW, which represented the annual recreational values per a person visiting Daegu Arboretum respectively. The analysis showed that Daegu Arboretum created the annual environmental values which were estimated to be approximately 16 to 19 billion KRW. The study also has an implication that the valuation method for the environment of Daegu Arboretum may be effectively applied for estimating the values of other types of environmental goods by altering the locations or goods to be analyzed.

• Journal of the Korean Society for Library and Information Science
• /
• v.42 no.2
• /
• pp.209-234
• /
• 2008

According to increasing the benefits from public libraries, there are many studies for measuring the library value. This study presents a methodology for measuring use value of the public library in terms of time value, surplus value of alternative service, value of library service, and overall value of library. The cost-benefit ratio of the time value compared to library's annual budget is 11:1, and the cost-benefit ratio of the overall library value was measured by user's WTP is 0.3:1. This study proposed the method for measuring use value of the public library according to the process, the results of these measurments for each value and the factors affecting the values.

• Ocean and Polar Research
• /
• v.38 no.3
• /
• pp.235-245
• /
• 2016

The purpose of this study is to estimate the Willingness To Payment (WTP) of sea-anglers regarding the increase in the abundance of fish resources resulting from the Korean vessel buy-back program using the contingent valuation method. Data was collected through sample surveys of 352 sea-anglers across the nation in 2015. If a 20% increase in the abundance of fish resources resulted from the vessel buy-back program, WTP estimates of sea-anglers per recreational fishing trip were 9,570 won on truncated mean, 16,528 won on mean, and 35,830 won on median, respectively. Additionally, when the number of annual total recreational fishing trips in Korea were estimated as 22,700 thousand trips, the annual increase in national welfare through recreational fishing was estimated to be 217.2 billion won on the truncated mean, 375.2 billion won on the mean, and 813.3 billion won on the median, respectively.

• Journal of Environmental Impact Assessment
• /
• v.13 no.2
• /
• pp.73-86
• /
• 2004

The objective of this research was to estimate residents' willingness-to-pay using contingent valuation method and to investigate their environmental sensibilities prior to conduct the costbenefit analysis on the watershed management program of integrated sewerage construction and operation in the catchment of Dam Chung-Ju. A set of questionnaire was prepared and asked to 1,200 residents at downstream area as well as upstream area of Dam Chung-Ju. As a result, environmental sensibility of the residents living in the catchment of upstream of Lake Chung-Ju seemed very high. However, the substantial practice in their own life for conserving their environment was inactive, although residents' efforts trying to collect and dispose garbages in separate containers and to minimize the waste discharge load were actually made. The willingness-to-pay on each month for 20 years was estimated as 4,841 wons for the openended question and 3,411 wons for the close-ended question. Factorial analysis was also performed to obtain correlation among the questions asked. Seven groups of the correlated questions were identified and their contribution to the estimated willingness-to-pay was analyzed.