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Measuring Landscape Value of Jeju Island's Mandarin(Orchard) for the Introduction of Direct Payment System of the Landscape Preservation  

Ko, Seong-Bo (Department of Industrial & Applied Economics and the Research Institute for Subtropical Agriculture and Biotechnology, Cheju National University)
Publication Information
Journal of Korean Society of Rural Planning / v.14, no.1, 2008 , pp. 43-50 More about this Journal
Abstract
The dichotomous-choice contingent valuation method is applied to estimate the landscape value of Jeju mandarin(orchard). A distribution-free approach, Turnbull empirical distribution model, is employed to solve negative willingness to pay and truncation problems. The data used are collected from the interviews with tourist about willingness-to-pay at the various donation amount levels of Jeju mandarin(orchard)'s landscape value. The evaluation result is shown that the average amount of willingness to pay for the Jeju mandarin's landscape value is 12,926 won per person with standard deviation of 1,874.7 won/person. When the number of Jeju visitors is considered, the economic value of Jeju mandarin's landscape rises every year(2005:64.89 billion won, 2011: 84.43 billion won). The average economic value of Jeju mandarin's landscape are estimated 59.65 billion won during 2000-2005 and 76.88 billion won during 2006-2011, respectively.
Keywords
Landscape value; Jeju mandarin(orchard); Turnbull distribution-free model; Willingness-to-pay;
Citations & Related Records
Times Cited By KSCI : 3  (Citation Analysis)
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