• Proceedings of the CALSEC Conference
• /
• 2005.03a
• /
• pp.293-298
• /
• 2005

This paper is a study on the model that measures economic values for the non-market properties of e-Business. For development of this model, first of all, we reviewed the properties of e-Business service, and looked around the relation between customer satisfaction and/or payment value and e-Business properties. In addition, we checked the method to measure economic values of these properties. This measurement method is the contingent valuation method which is a method of measuring the value of the environmental product. We modified it to adapt to the e-Business. Finally, in this paper, we proposed an economic value model which measures the value of willingness to pay(WTP) to our objectives. However, there could be some restrictions at the time when surveying empirically. Therefore, the succeeding study should be done in order to improve these restrictions some day.

• Journal of Biosystems Engineering
• /
• v.26 no.4
• /
• pp.363-370
• /
• 2001

This study intended to estimate the willingness-to-pay amount by farmers for the automatic guidance technology of Combine. Contingent Valuation Method was employed for this estimation using survey data from 65 Combine using farmers. Based on the dichotomous choice model, farmers’willingness-to-pay for the automatic guidance technology was ranged from ￦4,772,000(median) to ￦5,268,000(mean). The estimated willingness-to-pay by the for the new technology was approximately one quarter of the average value based on the willingness-to-pay for the new technology was approximately one quarter of the average value of Combine in sample farms. This implies that there is an economic rationals for developing the new technology as long as it will be available with the cost less than the amount of estimated willingness-to-pay.

• Journal of Digital Contents Society
• /
• v.6 no.4
• /
• pp.229-234
• /
• 2005

Companies are attempting application of open source software development approach method as new alternatives to solve roiling pints of the existing software developments such as quality of software, development speeds and cost. On the other hand, various analyses about open source software were performed, but concrete procedures or the results of suitable study about a way to utilize open source for a software development in actual industry are not yet. This study presented process model for identification, valuation selection of suitable open source, and modification application or commercializing.

• Environmental and Resource Economics Review
• /
• v.28 no.4
• /
• pp.645-673
• /
• 2019

The hypothetical nature of stated preferences can lead to a hypothetical bias that might work as a normative pressure, influencing survey responses. This paper aims to test the impact of social desirability bias by comparing economic estimates based on both subjective and objective valuation questions. The case study is about an urban riverine restoration project in Deajeon, South Korea. As valuation methods both contingent valuation and choice experiments were comparatively applied. Based on a nationally representative sample of 1,000 respondents, the test results offered contrasting conclusions between two test approaches. Accroding to the estimation results based on the conventional valuation, the marginal willingness to pay estimates are 10,500 KRW from CV; and 18,600 KRW for improving water quality, 2,200 KRW for the inside view, 8,900 KRW for the outside view, and 5,800 KRW for biodiversity from CE. A segmentation-based approach is a conventionally used method, which showed a limited impact of social desirability on willingness to pay estimates. The alternative parameterization-based approach measures a model-wide impact of social desirability, proving a significant bias. Although the study positioned a cheap-talk statement before the valuation section of the survey questionnaires, which might have pre-screened the bias, the overall implications of the results suggest a caution in reducing and observing hypothetical bias. There might remain a significant and substantial hypothetical bias even after cheap-talk, particularly in situations with strong social desirability, so that the potential role of objective valuation questions is guaranteed.

• Journal of Service Research and Studies
• /
• v.6 no.3
• /
• pp.29-40
• /
• 2016

Since the late 20th century, there has been much effort to improve the market value of media contents which are commercialized in a digital format, by fusing digital data of video, audio, numerals, characters with IT technology together. Then by what criteria and methodologies could the market value for the drama "Sons of the Sun" or the animated film 'Frozen', often referred to in the meida, be estimated? In the circumstances there has been little or no research on the valuation framework of media contents and the status of their valuation system development to date, we propose a practical valuation models for various purposes such as contents trading, review of investment adequacy, etc., by formalizing and presenting a contents valuation framework for the four types of media of movies, online games, and broadcasting commercials, and animations. Therefore, we develope computational methods of cash flows which includes production cost by media content types, provide reference databases associated with key variables of valuation (economic life cycle, discount rates, contents contribution and royalty rates), and finally propose the valuation framework of media contents based on both income approach and relief-from-royalty method which has been applied to valuation of intangible assets so far.

• Asia pacific journal of information systems
• /
• v.15 no.4
• /
• pp.165-192
• /
• 2005

This study introduces how to estimate the monetary value of intellectual capital of a public research institute by incorporating a non-market valuation technique, the choice experiments(CE). CE is a survey-based environmental valuation technique that has increasingly been popular over the last decade. The members of institute E, a typical type of public research institutes in Korea, were surveyed, before the data were fit to the conditional logit and mixed logit models. The total value of the institute's intellectual capital was estimated at approximately W3,377 billion for the year 2003. The institute's human, structural and relational capitals that comprise the intellectual capital were estimated at W18.7 billion, W10.7 billion and W4.4 billion respectively, for each of the components' index values improving by 1%. The human capital was placed a higher value than the other two. The study also shows that CE is a flexible technique that enables the researcher to estimate the monetary value of the intellectual capital whatever the index values of the component capitals and to interpret model estimation results more in depth by incorporating the mixed logit, a state-of-the-art discrete choice model, than the conventional conditional logic.

• Survey Research
• /
• v.3 no.1
• /
• pp.1-24
• /
• 2002

Part-whole bias in contingent-valuation studies is a possible explanation for non-use contingent-valuation estimates that are insensitive to marginal changes in environmental commodities. To increase the quality of river water, it is tested how much WTP is paid and is tested whether there is a part-whole bias in this contingent studies. An empirical test of the component sensitivity is provided. This test rejects the hypothesis that respondents are insensitive to the scope of the good being valued. WTP estimated in this paper is 5,435.69 won for Hangang model, and 7,182.68 won for 4-river model. And it might be concluded that part-whole bias exists and it is mainly attributed to substitution and net-benefit effects.

• Journal of the Korean Society for information Management
• /
• v.25 no.4
• /
• pp.245-267
• /
• 2008

This study is to develope a user-based economic valuation methodology and model for the economic analysis on the DDS of foreign journals. For this study, the sampling data on the annual subscribed journals by K institution was used and the online questionnaire was used to collect data. There are three aspects of the economic value of DDS journals was classified as use value, non-use value, and expectancy value. We suggested the income and market approach to measure its economic use value. To estimate the its value by individual users, this study applied a contingent valuation method and designed the imaginary scenarios.

• Journal of the Korean Society of Fisheries and Ocean Technology
• /
• v.46 no.3
• /
• pp.265-275
• /
• 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.

• Journal of Construction Engineering and Project Management
• /
• v.8 no.2
• /
• pp.17-33
• /
• 2018

This study investigates the stability of professionals' cost variability factor-rankings across different levels of cost-variability and response scenarios. Descriptive statistics are used to examine the stability of factor-ranking for 20 cost variability factors and a Multinomial Logistic (MNL) regression model was implemented to examine the stability of cost variability factors across three cost variability levels. The finding on the descriptive statistics indicated that professionals' factors-rankings are stable only for external factors. The MNL regression results on factor-stability suggested that 8 out of the 20 evaluated factors were unstable determinant of lower cost variability levels. These factors are "risk associated with the project", "personal bias and poor professionalism of the estimators", "limited time available to complete the project", "lack of skills and experience by estimator" "geographical location of projects", "incomplete & rush designs for estimate", "unforeseen or unexpected site constraints", "high class bidders for the contractors". Similarly lack of experience and large size projects were observed to be unstable as well. These observations suggest that professionals' view on pre-tender cost variability factor-ranking yields unstable factor rankings hence should not be relied upon as the only mechanisms to mitigate cost related risks in construction projects.