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http://dx.doi.org/10.5394/KINPR.2019.43.3.166

Study on Development of Social Cost Estimating Model for Aids to Navigation Accident(II)  

Moon, Beom-Sik (Dong Kang M-Tech)
Kim, Tae-Goun (Division of Maritime Transportation Science, Korea Maritime and Ocean University)
Publication Information
Journal of Navigation and Port Research / v.43, no.3, 2019 , pp. 166-171 More about this Journal
Abstract
Aids to Navigation(AtoN) Accident can reduce the credibility of AtoN by adding extra works to the administrators, and cause burdens and inconveniences to the users during their navigation leading to social costs (or economic losses). Prior research on social cost estimation model to determine the Encounter cost, Administrative cost and Risk cost on the Aton model was done to estimate the economic losses due to AtoN Accident. However, this research could not provide adequate study results on risk cost estimates. Therefore, this study complements the estimation model presented in the previous study, and the estimated social cost of 249 AtoN Accidents that occurred during the last 10 years (2008-2017) in the Busan Regional Office of Oceans and Fisheries jurisdiction area. The risk cost was estimated using contingent valuation method since the AtoN is a non-market goods. As a result, the social cost of AtoN Accidents for the past 10 years was estimated to total 12.4 billion won including Encounter cost of 3.1 billion won (25.38%), Administrative cost of 1.7 billion won (13.62%), and Risk cost of 7.5 billion won (61.01%).
Keywords
Aids to Navigation Accident; Social Cost Estimation Model; Risk Cost; Contingent Valuation Method;
Citations & Related Records
Times Cited By KSCI : 2  (Citation Analysis)
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1 Busan Regional Office of Oceans and Fisheries (BROOF), (2018), Internal Statistic Data of Aids to Navigation Accidents 2008-2017, Aids to navigation Division.
2 International Association of Marine Aids to navigation and Lighthouse Authorities(2014), IALA NAVGUIDE 2014, pp. 236-239.
3 Kim, T. G. and Moon, B. S.(2018), "Study on Estimating Risk Cost of Aids to Navigation Accident in Busan Port, Korea using Contingent Valuation Method", KINPR, Vol. 42 No. 6, pp. 478-485.
4 Moon, B. S., Gug, S. G. and Lee, Y. T.(2018), "Study on the Development of Social Evaluation Model for Aids to Navigation Accident", KINPR, Vol 42 No. 3, pp. 187-194.
5 Yoon, Y. J., Joen, S. H. and Moon, S. B.(2017), Geo Navigation, Korea Maritime and Ocean University press, p. 25.