Asia-Pacific Journal of Business (아태비즈니스연구)

KNU The Institute of Management & Economy Research (강원대학교 경영경제연구소)
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Study on Computation of Optimal Tolls When Externalities Exist

외부비용을 포함한 적정통행료 산정 수단에 관한 연구

  • 박상수 (고려대학교 경제학과) ;
  • 이충기 (한국방송통신대학교 경제학과)
  • Received : 2018.06.01
  • Accepted : 2018.06.25
  • Published : 2018.06.30
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Abstract

It is well known that market transactions do not lead to social optima when externalities exist. Given that previous studies such as RICARDO-AEA(2014) have identified various types of external costs, we must take their magnitudes, or externalities in general, into account in order to make toll prices to achieve social optimum. Little has been done on estimation of externalities in road uses in Korea, to the best of our knowledge. We suggested to use the contingent valuation method (CVM) to estimate overall social benefits and applied it to estimation of benefits of road kill prevention as a pilot study. Our empirical model has considered heteroskedasticity explicitly and its estimation result was that individual drivers were willing to pay 147 KRW on average in addition to current toll prices for prevention of road kills. We provided general discussions of externalities in road use and various internalization measures.

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