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An Economic Valuation of Arboretum Using Choice Experiments  

Hong, Sung-Kwon (Dept. of Environmental Science, Konkuk University)
Kim, Jae-Hyun (Dept. of Environmental Science, Konkuk University)
Jung, Sue-Jung (Dept. of Landscape Architecture, Graduate School, Seoul National University)
Tae, Yoo-Lee (Dept. of Environmental Science, Graduate School, Konkuk University)
Publication Information
Journal of the Korean Institute of Landscape Architecture / v.37, no.6, 2010 , pp. 1-11 More about this Journal
Abstract
The purpose of this research is to identify satisfaction levels of the arboretum which will be provided in the Multifunctional Administrative City and to estimate the economic value of using choice experiments. The attributes were "Preservation", "Education", "Recreation", "Facility", "Accessibility" and the entrance fee. The main effects model was utilized to construct hypothetical alternatives. Calibration of the conjoint choice model revealed that 'wetlands' and 'forest trails' in "Preservation" and the "Recreation", respectively, were significant variables. This result indicates that respondents are willing to pay more for these if they are provided in the arboretum. Also, 'variety seeking' tendency, age, and income level positively influenced the provision of the arboretum. Involvement in preservation of natural environment, however, had a negative influence on the establishment of the arboretum. Because this study is the first attempt to estimate the economic valuation of an urban arboretum using choice experiment, there are several suggestions for future research in terms of determining the base level and inclusion of salient attribute levels.
Keywords
Attribute Level; Attitude; Entrance Fee;
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