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http://dx.doi.org/10.7465/jkdi.2012.23.5.913

Estimating the benefit of constructing the international horse riding arena at Sangju  

Jeong, Ki-Ho (School of Economics and Trade, Kyungpook National University)
Publication Information
Journal of the Korean Data and Information Science Society / v.23, no.5, 2012 , pp. 913-925 More about this Journal
Abstract
This study evaluates the economic benefit of the project constructing the international riding arena having been built at Sangju in Gyeongsangbuk-Do by the willingness to pay (WTP) of residents in the province. As the evaluation method, the dichotomous choice contingent valuation method (CVM) is adopted with the additional questions of whether his/her WTP is zero, to improve the statistical accuracy of evaluation results. Considering the arena's administrative location, the population of the surveys for analysis is confined to residents of Daegu and Gyeongsangbuk-do. The survey is conducted through personal interviews. It turns out that the WTP per household per year is evaluated as 1,847 won and the total yearly benefit of the Sangju international horse riding arena is estimated as 3.56 billion won.
Keywords
Contingent valuation method; international horse riding arena; social benefit;
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Times Cited By KSCI : 2  (Citation Analysis)
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