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http://dx.doi.org/10.7851/ksrp.2014.20.4.101

The Economic Evaluation of the Public Values of Agriculture and Rural Area in Korea  

Kim, Yong-Lyoul (Korea Rural Economic Institute)
Jeong, Hak-Kyun (Korea Rural Economic Institute)
Heo, Joo-Nyung (Korea Rural Economic Institute)
Publication Information
Journal of Korean Society of Rural Planning / v.20, no.4, 2014 , pp. 101-112 More about this Journal
Abstract
The public value of agriculture and rural areas is closely associated with the concept of multifunctionality of agriculture and rural areas, which in turn signifies economic values other than the production function of agriculture and rural areas. Based on the survey results, virtual scenarios were set up and the contingent valuation method (CVM) was used to estimate the amount consumers are willing to pay (WTP) for the public functions of agriculture and rural areas. This study selected five domains of the public value (environment conservation, maintenance of landscape and cultural tradition, enhancement of national prestige, local community maintenance and socio-economic functions, and food security) and 21 value items as components of the public value. An economic assessment of the public value of agriculture and rural areas was conducted using a binomial logistic regression model. The estimation results showed that the public value consumers are willing to pay ranges from a minimum of 6,346.8 billion won to a maximum of 9,327.2 billion won.
Keywords
Public Value; Multifunctionality; CVM; Double-Bounded Dichotomous Choice Model; Willingness to Pay; Agriculture & Rural Areas;
Citations & Related Records
Times Cited By KSCI : 3  (Citation Analysis)
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