• Asia-Pacific Journal of Business
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• v.14 no.3
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• pp.251-269
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• 2023

Purpose - This study estimated the value of tourists' willingness to pay (WTP) to develop and promote regional tourism and minimize external effects using the contingent valuation method (CVM). Design/methodology/approach - To reduce exaggeration bias, a major issue of CVM, a pilot survey was conducted to categorize bid value. Additionally, the payment method was divided into a tourism fund and tourism taxes, and the respondents' answers were reaffirmed in two stages. Findings - As a result of the analysis, the tourists' WTP was estimated to be 5,132 KRW (3.60 USD) for the tourism fund and 1,036 KRW (0.73 USD) for tourism taxes. Research implications or Originality - The results of this study provide implications for securing financial resources and establishing policies in Gangwon province, which promotes special self-governing.

• Journal of Korea Water Resources Association
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• v.46 no.10
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• pp.989-995
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• 2013

This study attempts to estimate the benefits of environmentally-enhancing water ensuing from Sangkwan multi-purpose reservoir. To this end, we apply a survey technique, the contingent valuation (CV) method to elicit the public willingness to pay (WTP). Two CV surveys of randomly selected households were administrated to on-site and off-site areas. As it happens, a number of respondents reported zero WTPs for the environmentally- enhancing water. To deal with the zero WTPs, this study employs a spike model. The results show that average household's WTP for the environmentally-enhancing water ensuing from Sangkwan multi-purpose reservoir is estimated to be 1,393.7 won for on-site area and 2,237.7 won for off-site area per year. The benefits of environmentally-enhancing water ensuing from Sangkwan multi-purpose reservoir amount to about 38.3 billion won per year. Our findings are expected to contribute to determining an appropriate level of investment and making management policies with regard to the benefits of environmentally-enhancing water.

• Environmental and Resource Economics Review
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• v.10 no.3
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• pp.433-459
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• 2001

The water quality of Paldang reservoir now grades the third class water based on COD criterion, meaning that it is no longer suitable for drinking. This study attempted to estimate the economic value of water quality improvement in Paldang reservoir using CVM. The survey used payment card format to measure the willingness to pay of the questionnaire respondents for the improvement of water quality and also factors that affect the WTP. The survey showed that men rather than women, those had higher income and paid more water supply charges, those who lived in the area for a shorter period of time, those who do not use city water for drinking, had willingness to pay more. The WTP was estimated 4,952 to 5,497 won on a monthly average. The economic value of the improvement of the water quality of Paldang reservoir was estimated between 344.2~382.1 billion won on an annual basis.

• Korean Journal of Organic Agriculture
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• v.21 no.2
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• pp.125-137
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• 2013

The Purpose of this paper is to estimates consumers' willingness to pay for Urban Agriculture Park attributes. we analysis the marginal WTP by choice experiment method. Choice experiment (CE) is designed to elicit the marginal WTP differences among urban agriculture park attributes (garden scales, learning and experience area, leisure and relaxation area and fund). The results of multinomial logit model are meaningful, the total marginal WTP on the urban agriculture park attributes is 18,852 won. gardens scales is 2,949 won, learning and experience area is 11,284 won, leisure and relaxation area is 4,619 won. In the current laws, the facilities related to urban agriculture park is not. Taking advantage of the new urban agriculture park, Amendments of the law is required.

• Korean Journal of Organic Agriculture
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• v.22 no.3
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• pp.397-412
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• 2014

This study estimated reasonable rental for Kleingarten (weekend farm) in Kyungpook province. To estimate Willingness To Pay (WTP) for Kleingarten rental, a survey was committed for the aged 20 and above who live in Daegu area. Through the Single Bounded Dichotomous Choice (SBDC) method, WTPs were estimated from 338,361 won to 357,646 won. Explanatory variables are leisure frequency, state of retirement, intention to get Kleingarten, sex and income levels and so on. As we expected, all explanatory variables are positively related with WTP.

• Nuclear Engineering and Technology
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• v.48 no.2
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• pp.559-571
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• 2016

This paper studies the feasibility of renewable energy as a substitute for nuclear and energy by considering Korean customers' willingness to pay (WTP). For this analysis, we use the contingent valuation method to estimate the WTP of renewable energy, and then estimate its value using ordered logistic regression. To replace nuclear power and fossil energy with renewable energy in Korea, an average household is willing to pay an additional 102,388 Korean Won (KRW) per month (approx. US $85). Therefore, the yearly economic value of renewable energy in Korea is about 19.3 trillion KRW (approx. US $16.1 billion). Considering that power generation with only renewable energy would cost an additional 35 trillion KRW per year, it is economically infeasible for renewable energy to be the sole method of low-carbon energy generation in Korea.

• The Korean Journal of Food And Nutrition
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• v.22 no.3
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• pp.338-344
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• 2009

This study analyzed consumers' willingness to pay for price increases to avoid the purchase of GM foods by the expansion of GMO labeling. The subjects were asked about their knowledge of GM, concerns of potential hazards, and sources of obtained GM information. The logit model was employed and marginal effects were calculated to interpret the results. The results showed that consumers who perceived the safety of GM technology were less likely to pay for price increases, while consumers who had concerns about GM foods were more likely to pay. In addition, the study demonstrated that consumers residing in urban areas and with low levels of education and income were also less likely to pay for price increases.

• Journal of Environmental Policy
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• v.8 no.3
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• pp.163-180
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• 2009

This study attempts to investigate the preference uncertainty of respondents involved in stating their Willingness to Pay (WTP). For the Contingent Valuation Method (CVM) survey, we employed two approaches using two split samples. The respondents of one sample were given the opportunity to express intensity of preference through Multi-bounded Discrete Choice (MBDC) WTP questions, while those in the other sample were given Dichotomous Choice (DC) WTP questions. By incorporating the two elicited degrees of preference uncertainty into examining the WTP responses, we compared the two approaches. In comparing the DC model with the MBDC model, the mean WTP for the DC model was similar to PRYES in the MBDC Model. We concluded that the MBDC model estimates the various mean WTP while considering the preference uncertainty.

• Environmental and Resource Economics Review
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• v.31 no.4
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• pp.531-559
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• 2022

It is necessary to study the need for introduction of nuclear energy tax in Korea to internalize the externality cost of nuclear power and to make more balanced taxation system considering LNG and coal power. This study adopts choice experiment method to estimate the willingness to pay (WTP) for possible new tax on nuclear power. The finding is that the tax on nuclear fuel is more preferable to other tax base with KRW2.19/kWh of WTP, compared to KRW1.46/kWh for nuclear waste. The WTP for using the tax revenue to facilitate economic activity is KRW6.39/kWh compared to KRW6.12/kWh of WTP for funding climate change investment. The finding suggests that the design of nuclear power taxation needs to focus more on the use of tax revenue than on the choice of tax base.

• Journal of Korean Society of Forest Science
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• v.86 no.1
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• pp.87-97
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• 1997

In this research, photo images of uncultivated marginal lands were simulated to visualize alternative land use patterns using image capture technology. Based on an original photos, 3 simulated images were created ; barren condition, aforested condition and shrub-covered condition. The simulated images were then used to evaluate respondents' visual preference(SBE value) and willingness to pay for the agricultural development tax as a hypothetical payment vehicle. The SBE values for barren condition are the lowest, as expected. When original condition is changed to forested or shrubbed, the SBE values are increased significantly. The logistic models for the willingness to pay for the various alternative land uses performed significantly, ${\rho}$ statistics for 6 models ranges from 0.3 to 0.4 and correct percentage for predicted probability are about 75%. Among independent variables, the amount of tax offered is the most influencing factor to predict the probability. Income also shows some relationship with no statistical significance. Other variables behave inconsistently in the model. When SBE and WTP are correlated, rather consistent trends can be observed. With the increase of SBE, WTP predicted by the model increases accordingly. It can be concluded that enhancement of scenic quality of the agricultural lands leads to increase of people's willingness to pay to support the rural environmental conservation.