• Title/Summary/Keyword: Willingness to Pay(WTP)

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Estimation of Willingness to Pay (WTP) of the Cost of Safe Transportation for Freight Cars Using the Contingent Valuation Method (CVM) (조건부가치측정법(CVM)을 이용한 일반형 화물자동차 안전운송원가 지불의사(WTP) 추정)

  • Hong, Sun-Yong;Kim, Si-Hyun
    • Journal of Navigation and Port Research
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    • v.45 no.6
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    • pp.346-351
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    • 2021
  • With the goal of eradicating overwork, overload, and speeding of general freight cars(cargo) by the Ministry of Land, Infrastructure and Transport, Infrastructure and Transport, the "The Fare of safe transportation for freight cars System" has been enforced since 2020. 'The Fare of safe transportation for freight cars' rate for each item is being applied and supplemented, but the 'The Cost of safe transportation for freight cars' of general freight cars (cargo) and steel items is under discussion. The purpose of this study was to estimate the willingness to pay( WTP) for cargo. A survey was conducted on shippers, transportation companies (arrangers, carriers), and cargo drivers (using direct questioning among contingent valuation method (CVM) and the Tobit Regression analysis was conducted, and the average and median values of freight rates were derived using the estimated results, and the willingness to pay by tonnage of freight cars was confirmed. It is expected that the results of this study can be used as a reference to the "The Fare of safe transportation for freight cars Committee" an organization for deliberation and resolution of the 'The Cost of safe transportation for freight cars'.

A Value Analysis of Accessibility as an Attribute of Housing (주택의 특성으로서 접근성에 대한 가치분석)

  • Lee, So-Young
    • Journal of the Korean housing association
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    • v.22 no.4
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    • pp.43-50
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    • 2011
  • In an aging society, as the number of people with disabilities increases concerns are raised about the quality of life of these people and their access to a safe environment becomes important. The purpose of this study is to find out the value of accessibility as an attribute of housing. To estimate the value of accessible, barrier-free housing, this study uses the Contingent Valuation Method (CVM) and analyzes the factors which affect the Willingness To Pay (WTP) of survey respondents by using Survival Analysis. In addition, the importance and satisfaction of barrier-free facilities in the dwellings of survey respondents was investigated. Since aging could be an important factor in influencing the need for accessibility, this study surveyed two age groups, one group (212 respondents) of people below the age of 65 and the other (162 respondents) of people above 65. The results of this study show that respondents would pay on average 2.67% more for being barrier-free when answering an open-ended question and 3.87% more for barrier-free housing when using the double referendum model. This is the increase in value that the respondents perceive as a consequence of removing all the architectural barriers from a dwelling. On average, elderly respondents would pay 2.99% of housing price for accessible features compared to 4.40% of the younger group. However, if the elderly who have willingness to pay for accessibility, the value the older group put on barrier-free housing was higher than the value perceived by the younger group. Factors that influence the WTP are importance of barrier-free facilities, education level and housing type. The value of dwellings without barriers estimated in this study shows the potential size and value of this kind of housing market to the housing development sector.

Analyzing Consumer's Preference for the Potential Value of Coastal Wetland Ecotourism Using Contingent Choice Method (갯벌생태관광에 대한 소비자의 잠재가치 측정에 관한 연구)

  • Chang, Jeong-In;Lee, Joo-Suk;Shin, Chul-Oh
    • Ocean and Polar Research
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    • v.33 no.2
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    • pp.149-157
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    • 2011
  • As tourist are becoming increasingly environmentally conscious, government and related companies need to establish policies or strategies that encourage ecotourism. The aim of this study is to analyze individual preferences and estimate shadow prices, namely, willingness to pay for coastal wetland ecotourism. This study applies a contingent choice method to measuring marginal WTP for each attribute (tour duration, number of visitors, guide, program) of coastal wetland ecotourism. The finding herein contribute to complementing the valuation methods by estimating various attributes of coastal wetland ecotourism and providing policy-makers with useful methodological framework and quantitative information in the decision-making process related to ecotourism.

Exploring Online Gamers′ Preference for Online Games (온라인 게임의 속성이 온라인 게이머들의 선호도에 미치는 영향에 대한 탐색적인 연구)

  • 백승익;송영석
    • Journal of the Korean Operations Research and Management Science Society
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    • v.29 no.1
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    • pp.71-85
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    • 2004
  • Many online content providers who use the Internet to distribute contents, such as news, music, games, books, and other types of information, have been experiencing an extremely competitive business environment. To survive in this environment, they have started charging a fee for the contents that they provide. However, there have been very few success stories in commercializing online contents. One of the biggest hurdles may be customers' psychological resistance against paying a fee for the contents that have been free of charge previously. Without examining customers' perceived prices for online contents, many online content providers have tended to decide their prices by themselves. Online games are not exceptional cases. Although many online game-related research works have focused on psychological and technical aspects, very few works have examined online garners' preference carefully. This study alms at exploring online garners' preference by measuring their WTP (willingness to pay) for online games.

An Exploratory Study on the Applicability of MNP in Uzbekistan;A Conjoint Analysis

  • Shin, Hoe-Kyun;Kim, Andrey
    • 한국경영정보학회:학술대회논문집
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    • 2007.11a
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    • pp.453-459
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    • 2007
  • The mobile telecommunication sector is increasingly gathering way becoming a key area for the economic development in Uzbekistan. One way to promote competition among providers is the introduction of a number portability service. This paper estimates subscriber's willingness to pay (WTP) for the MNP service in the mobile communication market in Uzbekistan. Consumer valuation was estimated using a conjoint analysis. Since number portability had not been introduced at the time of the study, stated preference data from the conjoint survey was used. Results indicate that currently subscribers do not attach a lot of importance to the MNP service, while price and service quality are most valuable components. The results of this study provide important implication for mobile network operators and policy developers on potential MNP implementation.

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Valuing Drinking Water Risk Reductions Using Experimental Market Method (실험시장접근법을 이용한 먹는 물 수질개선에 대한 지불의사 측정)

  • Eom, Young Sook
    • Environmental and Resource Economics Review
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    • v.9 no.4
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    • pp.747-771
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    • 2000
  • This paper reports the results of a study to elicit willingness to pay (WTP) for changes in health risks from exposure to As, Pb, THM in tap water using experimental market method. The experimental market method, compared with other non-market valuation methods, allows us to use incentive compatible demand revealing scheme, to acquire market-like experience through repetitive auctions, and to incorporate learning process by providing new information during the session. Participants seemed to utilize the objective risk information in a 'rational' manner, and to change their WTP bids accordingly. Moreover they were able to reduce the 'ambiguity' in risk perception processes when objective risk probabilities provided are quite different from their subjective perceptions. Nonetheless, anchoring effects appeared to be still persistent in spite of market-like experience and learning opportunity. And implicit values entailed by WTP bid/risk tradeoffs indicate a wide variation in values across alternative risk reductions and overrated responses to very small risk reductions.

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Estimating the Economic Value of Ecotourism in Anmyeondo Tidal Wetlands Using the Contingent Valuation Method (조건부가치측정법을 이용한 안면도갯벌의 생태관광에 대한 경제적 가치추정)

  • Pyo, Hee-Dong;Chae, Dong-Ryul
    • 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.

Economic Valuation of Arboretum in Multifunctional Administrative City (행정중심복합도시 내 수목원의 경제적 가치 분석)

  • Hong, Sung-Kwon;Kim, Jae-Hyun;Jung, Sue-Jung;Kim, Myung-Soo;Tae, Yoo-Ri
    • 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.

A Study on Value on Apple's Main Production Areas Using Hedonic Price Model and Conjoint Analysis (헤도닉 가격모형과 컨조인트 분석을 이용한 사과 주산지의 가치에 대한 연구)

  • Lee, Yu-Jin;Yang, Sung-Bum
    • Korean Journal of Organic Agriculture
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    • v.29 no.4
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    • pp.523-538
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    • 2021
  • The purpose of this paper is to analyze the difference of the value in main production areas affected through the hedonic price model and the conjoint analysis. In addition, the partial value of each attribute level, and the consumers' willingness to pay(WTP) for change in each attribute level are analyzed. For this, we compared the value of apple determined in Garak market with the value that consumers' WTP. The result showed that there is a gap between the market value and the consumers' preferences on apple. It means that it is necessary for the local branding to be more developed to receive higher sales. Furthermore, understanding the consumers' preferences on the apple attributes can enhance the consumer utility and the competitivity. As a result, this study provides an apple marketing direction for main production areas that has been changing due to climate change.

Estimation of economic benefits of biodegradable fishing net by using contingent valuation method (CVM) (CVM을 이용한 생분해성 어구의 경제적 편익 분석)

  • Park, Seong-Wook;Kwon, Hyeok-Jun;Park, Seong-Kwae
    • Journal of the Korean Society of Fisheries and Ocean Technology
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    • v.46 no.3
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    • pp.265-275
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    • 2010
  • The main purpose of this study is to estimate willingness to pay (WTP) by the general publics, assuming that they pay tax or charge for protecting marine living resources and environment through developing and supplying biodegradable fishing nets. This study employed a contingent valuation method (CVM) which is an econometric method. The survey was conducted by using both double-bounded dichotomous choice and open-ended survey. Tobit model was used for the analysis. The variables included concerns about marine environment and fishing net discarded, sex, age profile, number of family members, educational level and personal disposable income. Annual average WTP per family for the biodegradable fishing net development and supply was estimated at 5,294 won and national WTP amounted to some 84.2 billion won. This includes both of use and non-use value of biodegradable fishing nets.