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http://dx.doi.org/10.4217/OPR.2011.33.3.223

Assessment of Non-market Value of Dokdo  

Yoo, Seung-Hoon (Graduate School of Energy and Environment, Seoul University of Science and Technology)
Lee, Joo-Suk (Depart of International Area Studies, College of Social Sciences, Hoseo University)
Chung, Young-Keun (Division of International Economics and Trade, College of International Peace, Sunmoon University)
Publication Information
Ocean and Polar Research / v.33, no.3, 2011 , pp. 223-233 More about this Journal
Abstract
The Korean government has acknowledged the importance of Dokdo Island and has consequently taken various measures for the effective management of it. There has, however, been little quantitative information about the value of Dokdo Island and this study, therefore, attempts to assess the Islands non-market value. To this end, this study estimated the non-market value by MAUT/CVM. The non-market value estimated by MAUT/CVM includes historic value, military value, ecological value, and geological value. According to the results, the values calculated by the price in market is about 10.37 trillion won and the values estimated by MAUT/CVM is about 1.72 trillion won annually.
Keywords
contingent valuation method; non-market value; Dokdo;
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Times Cited By KSCI : 1  (Citation Analysis)
Times Cited By SCOPUS : 0
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