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http://dx.doi.org/10.7837/kosomes.2022.28.5.681

Public Willingness to Pay for the Preservation of Marine Protected Species Zostera marina: A Contingent Valuation Study  

Choi, Kyung-Ran (Department of Energy Policy, Graduate School of Convergence Science, Seoul National University of Science & Technology)
Kim, Ju-Hee (Department of Future Energy Convergence, College of Creativity and Convergence, Seoul National University of Science & Technology)
Yoo, Seung-Hoon (Department of Future Energy Convergence, College of Creativity and Convergence, Seoul National University of Science & Technology)
Publication Information
Journal of the Korean Society of Marine Environment & Safety / v.28, no.5, 2022 , pp. 681-691 More about this Journal
Abstract
Zostera marina (ZM), a type of seagrass registered as a marine protected species in South Korea, provides valuable ecosystem services to humans, such as improving marine water quality, providing food, spawning grounds and habitats for marine life, and absorbing carbon dioxide. Therefore, the government is seeking to preserve ZM by designating ZM-protected areas. This study examined the public willingness to pay (WTP) for the preservation of ZM using contingent valuation. The one-and-one-half-bounded model was adopted for WTP elicitation, and the single-bounded model was also applied for comparison. The spike model was employed to deal with many zero WTP responses. The household average WTP was estimated as KRW 4,087 per year, securing statistical significance. The national value was KRW 84.1 billion per year. The preservation value of ZM estimated in this study can be used as important data for economic analysis of various projects or policy implementation for its preservation.
Keywords
Contingent valuation; Zostera marina; Willingness to pay; Marine protected species; Ecosystem services;
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Times Cited By KSCI : 5  (Citation Analysis)
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