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An Economic Evaluation of Multi-Functionality of Rural Areas and Benefit Transfer  

Shin, Yong-Kwang (Rural Resource Development Institute, RDA)
Rhee, Sang-Young (Rural Resource Development Institute, RDA)
Kim, Young (Rural Resource Development Institute, RDA)
Publication Information
Journal of Korean Society of Rural Planning / v.10, no.1, 2004 , pp. 1-7 More about this Journal
Abstract
There are recently many studies on evaluating the economic value of multi-functionality of rural areas. However, the regional difference of economic value leads a problem of different evaluation on its economic value for each region in its application to government policy. This problem causes an increase in cost because it creates restriction in policy decisions which put their importance on the time of their execution. This study investigates the propriety of value transfer using Meta Analysis after evaluating the social and cultural value of rural areas among their functions based on CVM model. It finds that the regional difference in the willingness to pay is 0.13% to 31.42%.
Keywords
Box-Cox transformation; Double-bounded dichotomous choice; Meta Analysis; Multi-Functionality of Rural Areas;
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