• Journal of the Korean Society for Library and Information Science
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• v.53 no.2
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• pp.201-221
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• 2019

The Korea Institute of Civil Engineering and Building Technology provides the documents and information on the construction technology through the Construction Technology Digital Library System to enhance the technological competitiveness of the construction engineers. The purpose of this study is to measure the monetary value of information service quality in order to improve the documents and information service quality provided by this system. For this purpose, a questionnaire model was designed to apply the DBDC- CVM. We surveyed the members of 300 this systems for the amount of information that they are willing to pay to maximize the quality of information service. The correlation between the dependent variable and the explanatory variables was analyzed with the basic statistics of the survey results. The independent variables affecting the dependent variable are statistically significant. The logit model is used to estimate the monetary value of individual respondents who are willing to pay for information service quality. In previous research, we measured the use value of information service. On the other hand, this study shows that the measurement of value based on information service quality is different from previous research.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.30 no.3D
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• pp.247-254
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• 2010

The positive effects of the air quality improvement policy have revealed sufficiently such as 3.3 trillion won of social benefits under the Environmental Zone in five years(K. Choi, 2009). In case of low-income freight truck owner, however, could be burdened with the requirement likes emission decreasing equipment. Eventually, restraint of running in the Environmental Zone would be affected their livelihood seriously. After estimating the scale of low-income freight truck owner for three alternatives with Road Freight Transport Center data, this study calculates decreased VKT to estimate the scale of monetary loss. In the result, decreased income amount of low-income freight truck owner under the restricted running estimated 6.1 trillion won during 5 years, quite exceeding 3.3 trillion won of the positive benefits as improving air quality, which means the necessity of immediate countermeasure. In other words, even though the governmental policy aimed benefits for the majority, the result implies that the total monetary losses of the minority could be exceed against the positives, therefore analysis should be considered carefully before the policy becomes effective.

• The Journal of Fisheries Business Administration
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• v.38 no.2
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• pp.79-101
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• 2007

The purpose of this study is to estimate the economic value of the Songieong Beach in Off-season, using a Individual Travel Cost Model(ITCM). Songieong Beach is located in Busan but far away from city. These days, however, the increased rate of traffic inflow to the Songieong beach and the five-day working week are reflected in the trend analysis. Moreover, people have changed psychological value. For that reason, visitors are on the increase on the beach in off-season. The ITCM is applied to estimate non-market value or environmental Good like a Contingent Valuation Method and Hedonic Price Model etc. The ITCM was derived from the Count Data Model(i.e. Poisson and Negative Binomial model). So this paper compares Poisson and negative binomial count data models to measure the tourism demands. The data for the study were collected from the Songjeong Beach on visitors over the a week from November 1 through November 23, 2006. Interviewers were instructed to interview only individuals. So the sample was taken in 113. A dependent variable that is defined on the non-negative integers and subject to sampling truncation is the result of a truncated count data process. This paper analyzes the effects of determinants on visitors' demand for exhibition using a class of maximum-likelihood regression estimators for count data from truncated samples, The count data and truncated models are used primarily to explain non-negative integer and truncation properties of tourist trips as suggested by the economic valuation literature. The results suggest that the truncated negative binomial model is improved overdispersion problem and more preferred than the other models in the study. This paper is not the same as the others. One thing is that Estimating Value of the Beach in off-season. The other thing is this study emphasizes in particular 'travel cost' that is not only monetary cost but also including opportunity cost of 'travel time'. According to the truncated negative binomial model, estimates the Consumer Surplus(CS) values per trip of about 199,754 Korean won and the total economic value was estimated to be 1,288,680 Korean won.

• Journal of Environmental Impact Assessment
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• v.20 no.5
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• pp.729-745
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• 2011

The purpose of this paper is to estimate the external diseconomies of an unwelcomed facility on the nearby houses. The facility and the area studied are Dangin-Ri power plant in Mapo-Gu, Seoul and the residential district surrounding it respectively. The nearby housing prices have been changed according to the time and circumstances of the public announcements about the reconstruction or removal plans of the plant. These price changes are regarded as the capitalized values of the external diseconomies due to the plant. This study is based on the hedonic price theory in order to estimate the diseconomies in monetary value. The tools for the estimation are four models of multiple regression with the transaction price as the dependant variable and various housing characteristics including the external effects of the plant as the independent variables. The sample analyzed is 833 house transactions for the past 5 years in the research area. The facts found are as follows; First, the most suitable functional form for the estimation is confirmed to be the linear model. Second, there are significant differences in influence on the housing values among the independent variables, that is, locational characteristics, physical features, and environmental changes with time. Third, the external diseconomy is estimated as \80,137,807 in case that the plant would be reconstructed in the underground of the present site, whereon a substitutional public park would be constructed and as \59,142,248 in case that the plant would move away.

• Economic Analysis
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• v.27 no.3
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• pp.33-60
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• 2021

This study estimates the fiscal multiplier using Input-Output table panel data from year of 2010 to 2018. Considering the endogeneity of the government expenditure, this study uses the share of government expenditure by sector in the initial period as an instrument variable. The estimation from the panel fixed effect instrumental variables model shows that the estimate for the current period of government expenditure is 1.15~1.22 and the estimate for the cumulative multiplier is 1.23~1.32 depending on the method of controlling time trend. Since the general equilibrium effect absorbed by the time-fixed effect in the estimation equation, the estimated multiplier in this study may be different from the multiplier of the economy as a whole. The general equilibrium effect depends on the response of monetary policy, changes in tax policy, and interaction between sectors.

• Communications for Statistical Applications and Methods
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• v.19 no.3
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• pp.315-331
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• 2012

In this research, we estimated the number of hits per song and its sampling error from 11 (areas including Gangnam) based on log data compiling the number of hits collected from offline karaoke players in March 2011. Then, we calculated the monetary equivalent of the sampling error under the current system that distribute royalties from the karaoke players to copyright holders(song writers and arrangers) according to the estimated hits. Because of the small sample size, the estimated number of hits had a very large sampling error. This research proposes a more reasonable sample design to estimate the usage of copyrighted music works for a fair distribution of royalties by reducing sampling error.

• Journal of the Korean Society of Environmental Restoration Technology
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• v.17 no.4
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• pp.69-79
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• 2014

Coastal wetlands are among the most productive biomes in the Earth. The economic values include the direct use of a coastal wetland's ecosystem services, such as food, raw materials, recreation, and tourism. Other values comprise the indirect use of a coastal wetland's ecosystem services, such as carbon sequestration, waste-water treatment, and erosion prevention. In particular, Suncheon Bay is recently attracting attention as the most successful case of the preservation and restoration. This study applies Travel Cost Method (TCM) to estimate the economic value by drawing the demand curve for trips to Suncheon Bay. The TCM is an approach used for economic valuation of non-market goods and services. Based on the results of TCM, this study shows that the economic benefit from recreational uses of the site adds up to \174.7 billion per year. It is also significant in the sense that monetary information is suggested to help local policy makers evaluate the realistic values of coastal wetlands.

• The Journal of Fisheries Business Administration
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• v.23 no.2
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• pp.91-99
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• 1992

It has been one of the critical issues that the researchers properly evaluate the fishing rights foregone by the coastal development activities like wetland reclamation. Particularly, estimating the productivity of concerned fishing rights is known to play a significant role in their monetary compensation. As a result, this paper attempts to develop a statistical model characterized by Cobb-Douglas production function in conjunction with the fisheries' productivity estimation. The primary hypotheses involving their statistical production function are as below : 1. The quantity of fisheries production is hypothesized to be expressed as a function of capital (K) and labor(L) put into fishing activities. 2. The estimated parameters of K and L are hypothesized to satisfy the conventional condition of production function as a form of Cobb-Douglas. These statistical tests reveal that the shellfish farming productivity heavily depends on the acre of mariculture while the input of labor force also considerably affects its productivity. In case of the fixed net fishing productivity, both the factors of capital and labor similarly affect the marginal change in its productivity. En addition, the productivity of shellfish (arming turns out to follow the increasing returns to scale, whereas that of fixed net fishing comes up with the decreasing returns to scale.

• Journal of the Korean Operations Research and Management Science Society
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• v.39 no.3
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• pp.63-82
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• 2014

The main objective of this research is to investigate whether the RFM (recency-frequency-monetary value) information of a customer's redemption behavior of loyalty points can improve the prediction of future value of the customer. The conventional measurement of customer value has been primarily based on purchase transactions behavior although a customer's future behavior can be also influenced by other interactions between the customer and the firm such as redemption of rewards in a loyalty program. We theorize why a customer's redemption behavior can influence her future purchases and thereby the customer's total value based on operant learning theory, goal gradient hypothesis, and lock-in effect. Using a dataset from a major book store in Korea spanning three years between 2008 and 2010, we analyze both purchase transactions and redemption records of over 10,000 customers. The results show that the redemption-based RFM information does improve the prediction accuracy of the customer's future purchases. Based on this result, we also propose an improved estimate of customer lifetime value (CLV) by combining purchase transactions and loyalty points redemption data. Managerial implications will be also discussed for firms managing loyalty programs to maximize the total value customers.

• Asia pacific journal of information systems
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• v.25 no.2
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• pp.289-305
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• 2015

The dramatic growth of social networking sites (SNS) has created a myriad of privacy concerns. Our study focuses on how much monetary incentive SNS users are willing to accept in exchange for disclosing their SNS information by accepting friend requests. First, we focused on information privacy in SNS, and estimated the value of information privacy by using the contingent valuation method. Second, we attempted to estimate how SNS users' willingness to accept would change when demographic information and additional information vary. Privacy-sensitive SNS users have the following characteristics: higher education, less SNS experience, and higher security consciousness. On the contrary, those who make good use of SNS and use open-based SNS are less sensitive to privacy. In summary, privacy-sensitive SNS users are fearful or uneasy when they have insufficient control of SNS information. Considering 14 conditions on the value of information privacy on SNS, the mean value of SNS information per person is 173,957 won. If we apply this value to Facebook users, the total Facebook information value would be 1.91 trillion won, considering that there are 11 million users in Korea.