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Estimation of the Biodiversity Conservation Value about the Heory Stock in Sun-Cheon  

Yeo, Jun Ho (Department of Agricultural Economics, Kyungpook National University)
Jang, Woo Whan (Department of Agricultural Economics, Kyungpook National University)
Publication Information
Journal of Korean Society of Forest Science / v.96, no.4, 2007 , pp. 483-493 More about this Journal
Abstract
The purpose of this study is to estimate the biodiversity conservation value of Heory stock in Sun-Cheon. Expected values of residents' Willingness To Pay (WTP) was estimated using Contingent Valuation Method (CVM) which is the most popular method in estimating conservation values of biological diversities. Three different estimation methods were used in statistical estimation, and the results were different from each other. Results of statistical analysis show that the expected value of WTP in logit model is highest, 5,772 Won per month. Those of A model which conducted OLS estimation using open ended questionnaire and B-1 model which conducted OLS estimation using dichotomous choice questionnaire were 1,978 Won per month and 2,391 Won per month respectively. The average expected value of WTP from three model was 3,380. This average value was expected to reduce methodological biases.
Keywords
Conservation values; biological diversities; willingness to pay(WTP); contingent valuation method(CVM);
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