Valuing Natural Park as Environmental and Cultural Resources : Mu Deung Mt. as a Case Study

환경자원과 문화자원으로서 자연공원의 가치추정 - 무등산 자연공원을 사례로 -

This paper reviews a single trip decision to visit individual sites of a natural park within a random utility framework as an alternative to travel cost model. The model is applied to a 1998 survey of on-site visitors to Mu Deung Mt. neighboring Kwang Ju. city. Out of four sites considered, the model seemed to provide a reasonable description of behavior for three sites. In addition to travel costs as an implicit price, variables reflecting characteristics of each site also influenced decisions to visit the site. Moreover, benefits estimates derived from the RUM implied that visitors placed three times higher values on a site based on cultural inheritance compared with those of two recreational sites.