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http://dx.doi.org/10.15266/KEREA.2015.24.2.435

Measuring Benefits of Providing Water for Environmental Improvement in Yeongdok Ohsip River: Considering Protest Bids and Distance-Decay Function in the Application of CVM  

Eom, Young Sook (Department of Economics, Chonbuk National University)
Publication Information
Environmental and Resource Economics Review / v.24, no.2, 2015 , pp. 435-461 More about this Journal
Abstract
Recently, Korean development Institute includes water for environmental improvement as an additional water demand category in water resources development project. In response to this change, this paper is to measure benefits of providing additional water in Yeondok Ohsip River by applying contingent valuation method. This study extended the conventional CVM design by incorporating distance variable into WTP function of dichotonomous choice responses and treated protest bids by estimating sample-selection models. The empirical analysis exhibited that more than 30% of respondents were categorized as protest bids and the mean of WTP from sample selection models were three times higher than that of the whole sample. In addition, the distance variable had significantly negative impact on sample WTP regardless of variables forms, and the geographical market area were more 400km, which implies that beneficiaries of water service would the households from the whole nation.
Keywords
Water for environmental improvement; CVM; Protest bids; Distance-decay function;
Citations & Related Records
Times Cited By KSCI : 2  (Citation Analysis)
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