• Korean Management Science Review
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• v.25 no.2
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• pp.43-55
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• 2008

Contingent valuation method(hereafter CVM) is generally believed to be one of the most popular methods used for quantifying the value of non-market goods or services particularly by asking respondents of willingness to pay. This study deals with how to use CVM in calculating the value of mobile telephone service by suggesting methodology of estimation and eliminating biases. This study represents an attempt to estimate the WTP(Willingness To Pay) of the mobile telephone service using the face-to-face interview which is the qualitative technique is used. In this study, by using the single bound dichotomous choice model(SBDC) in order to analyze the valuation of mobile telephone service, WTP was estimated. Also we analyze the factors to pay for mobile service in which it becomes the important factor of demanding services. We used logit model. In order to provide robust estimates of WTP, we have used the Method of Montecarlo Simulation. Consequently, consumers showed that WTP about the mobile communications service is generally high. And it could know that the WTP will fell down as the specialized knowledge about the mobile communications frequency was high. It will be able to become the important part to not only the business carrier but also the policy maker to estimate the economic value of mobile telephone service.

• Journal of the Korean Society of Environmental Restoration Technology
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• v.12 no.1
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• pp.67-81
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• 2009

The purpose of this research is to valuate the economic value of the arboretum which will be provided in Multifunctional Administrative City by estimating citizens' willingness to pay with double-bounded dichotomous choice contingent valuation method, and to provide the basic information necessary for designing and managing it for the future by identifying the types of the variables affecting the WTP. It was found that respondent's average WTP for arboretum was \23,508, and when this figures applied to all the Seoul citizens aged between 20 and 59, the economic value of it was \157,000,000,000. The variables affecting the amount of WTP were visit intention, variety seeking tendency, level of income and environmental attitude. However, environmental attitude negatively affected the amount of WTP. Average WTP for the entrance fee was \5,090, and both variety seeking tendency and visit intention were influencing factor affecting the amount of WTP. Respondents were taking charging entrance fee for granted because most of arboretums are commercial. It can be expected that much of maintenance cost will be covered from the entrance fee.

• Environmental and Resource Economics Review
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• v.13 no.3
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• pp.337-366
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• 2004

Contingent Valuation Method (CVM), as non-market valuation approach, has been criticized on that respondents may not realistically reflect their budget constraints in answering willingness to pay (WTP) for hypothetical CV questions. This paper empirically estimates the income calibration factor associated with CV responses through combining travel cost method and contingent valuation method in a utility-theoretic framework. The joint model of recreation demand function and contingent WTP function was applied to an important case study on the Man Kyoung River system, whose water quality is at issue because of the Sae Alan Kum reclamation project. Relevant economic variables such as price, income and water quality had significant influence as anticipated by the economic theory. Equally important, the income calibration factor was not significantly different from one, suggesting that the systematic discrepancies of CV responses relative to the actual behavior was not detected at least in terms of budget exaggeration. Overall, this study supports the notion that carefully designed CVM studies can provide informative data on individuals' willingness to pay for environmental quality changes.

• Korean Journal of Environment and Ecology
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• v.29 no.2
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• pp.292-303
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• 2015

The objective of this study is to evaluate the spatial restoration of Hampyeong Stream and to analyze the determinants of demand for the multi-functionalities of the stream. A Contingent Valuation Method (CVM) was used to estimate the multi-functional public benefits of restored stream area, and major determinants were scrutinized by establishing a demand model. The research data was collected by conducting a survey intended for Hampyeong's local residents, resulting in 284 valid samples. In terms of determinants that affect willingness to pay (WTP), 'physical factor of waterfront area' and 'experience factor of stream space' showed a significantly positive influence on WTP. As a result of applying a double-bounded CVM, the willingness to pay for the restored Hampyeong Stream area indicated a potential contribution of 22,523 won (17,362~27,459 won, 95% confidence interval). When multiplying the number of households in Hampyeong-gun, the total annual value of Hampyeong Stream spatial restoration is approximately 302million won.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.29 no.1
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• pp.143-150
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• 2006

Box-Cox model and T-factor method have been widely used to measure economic depreciations for industrial property. The Box-Cox model which combines economic efficiency with depreciation pattern is here extended to the reliability function. To do so a Rayleigh distribution which has been used to estimate the reliability of current assets was chosen as an efficiency curve of marginal productivity. Such an approach provides the possibility to classify the efficiency curves into four categories. It is also possible to analyze the types of depreciation curves. Therefore, the power family of a non-linear Box-Cox model could be set at certain constant values, then the model can be transformed into a linear model to estimate the economic depreciation rates by utilizing the reliability function. Estimating the resultant linear regression equation requires minimal number of observations, while at the same time facilitating the test of hypothesis on depreciation rates.

• Culinary science and hospitality research
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• v.15 no.3
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• pp.166-178
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• 2009

The purpose of this study was to understand the influence of corporate association in family restaurants upon the customer's service valuation and company evaluation and to empirically analyze whether the service valuation plays a mediating role between the corporate association and the company evaluation. Self-administered questionnaires were completed by 301 customers and the data were analysed by frequency, factor analysis, reliability analysis, correlation analysis and multiple regression analysis. The primary results are as follows. Multiple regression analysis, to verify the hypothesis, showed that corporate association(corporate competence association $\beta$=0.636; corporate social responsibility association $\beta$=0.091) in family restaurants had positively significant influence upon service valuation, and service valuation($\beta$=0.567) had positively significant influence on company evaluation. As a result of analyzing the mediating effects, the direct effects(corporate competence association $\beta$=0.166; corporate social responsibility association $\beta$=0.123) of the corporate association in family restaurants upon customer's corporate evaluation were indicated to be smaller than the total effects(corporate competence association $\beta$=0.430; corporate social responsibility association $\beta$=0.161). Accordingly, the partial mediating effect was surveyed to exist that has influence upon company evaluation through service evaluation without explaining 100% directly in evaluation on corporate association.

• Proceedings of the Korean Institute of IIIuminating and Electrical Installation Engineers Conference
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• 2004.05a
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• pp.570-574
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• 2004

Technical supply reason of digital base and important color reappearance of WEB base that is diffused rapidly on industry whole. Examined my outside factor investigation and revision method of inaccurate color reproduction and color reappearance valuation method influencing in color reappearance of monitor for last reception using in on-line shopping as well as end consumers in graphic age

• Journal of Korea Technology Innovation Society
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• v.9 no.4
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• pp.812-841
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• 2006

Previous studies have shown that the ex-ante financial ratios, mainly used by financial institutions for loan evaluation purpose, are related to the ex-post finn's performance of venture firm's. The main objective of this study is to examine whether non-financial variables such as 'technology', 'marketability', and 'other business indexes' have extra explanatory power in forecasting the ex-post firm's performance of small and medium size venture firm's in Korea. The implications and results of this study are expected to be useful in loan evaluation, investment decision and internal management decisions of venture firms. Among small and medium sized manufacturing firms funded in the year of 1999 through 2005, 416 firms are selected for our analysis. The relationship between evaluation indexes and firm's success/failure is investigated using binary logistic regression analysis and factor analysis with an aid of SPSS program. The summarized results are as follows. First, current evaluation model, used for loan evaluation purpose for small and medium size manufacturing firms show the same discriminatory power as previous prediction model. Second, among the tested additional variables, significant indices are 'technological capability of CEO', 'managerial capability of CEO', and 'business feasibility'. Third, while previous studies on evaluation structure had 3 factors, this study showed that valuation's structure has 6 factors.

• Journal of the Korean Society of Safety
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• v.24 no.4
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• pp.53-58
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• 2009

The importance of process for repair and reinforcement of the bridge is increasing because of the lack of the fatigue load and stress, a lowering of the bridge load carrying capacity owing to impact and oscillation, deterioration on cultivation periods of the bridge, etc. Typically the experimenter values the bridge load carrying capacity by the real rating factor and response modification factor in bridge load rating through static load test and dynamic load test. But the error occurred in reliability of response modification factor in bridge load rating according to experience of experimenter. so tests of connecting probability theory and valuation of the bridge recently. The study is to compute the real load carrying capacity of the bridge and the rating factor and response modification factor on grade of the bridge, and calculate the probability of over-loaded truck load from Weigh In Motion(WIM) Data in FORTRAN programming applying to Monte-Carlo Simulation. At the result of this study, it is acquired that the new grade is computed for the probability of over-loaded truck load and surface inspection. The A grade is over 1.95, B grade is $1.55{\sim}1.94$, C grade is $1.26{\sim}1.54$, D grade is $1.14{\sim}1.25$, E grade is under 1.13 of rating factor, respectively.

• Ocean and Polar Research
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• v.26 no.1
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• pp.77-86
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• 2004

The paper is to estimate the economic value of ecotourism in Anmyeondo tidal wetlands using a double-bounded dichotomous choice (DBDC) model of the Contingent Valuation Method (CVM). For the reliability and the validity of CVM a survey was conducted for 511 visitors by personal interview method in Anmyeondo during August 2000, and respondents were asked for maximum Willingness-To-Pay (WTP) to buy a ticket fer the tidal flat's ecotourism. Overall, respondents answered that they would be willing to pay 55,879 won for a ticket under the study. All equations and results estimated are statistically significant at the 1% or 5% level. For the aggregation of WTP estimates, the sample values are extended to the total annual number of visitors in Anmyeondo area during 1998. A conservative estimate, which considers the calibration factor (0.5) recommended by NOAA (1994) and a positive response rate (83.17%), is 73 billion won.