• Journal of Korean Society of Environmental Engineers
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• v.28 no.1
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• pp.74-80
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• 2006

Benefit transfer is a method, which obtains an estimate for the economic valuation of non-marketed commodities at a given site through the analysis of studies that have been previously carried out to value similar commodities at a different location. The objective of this study was to estimate benefit transfer values for the construction of the integrated sewerage system in the catchment area of dams in Korea. For pooled data analysis, five models were suggested in this study. Among five models, model 2 showed only 6 to 7% errors when the willingness-to-pay(WTP) predicted in the policy-site, Dam Soyang was compared with that estimated using contingent valuation method(CVM) in the study-sites, Dams Namgang, Hapcheon, and Daecheong. However, the WTP estimate predicted by model 1 showed the absolute errors of 42 to 47% when it was compared with WTP estimated using CVM in Dams Andong and Imha. It seemed that residents of Dams Andong and Imha have feeling of being victimized since two dams were constructed very adjacently, the upstream area was designated as drinking water source protection zone, and thereafter their developmental economical actions have been significantly restricted.

• Journal of Korea Water Resources Association
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• v.56 no.3
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• pp.225-233
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• 2023

Urban rivers and their surrounding environments have been altered due to factors such as rapid economic growth and urban development. This alteration have caused the rivers to lose their original value and become exposed to various pollution, resulting decrease in citizens' quality of life. This study aims to estimate citizens' Willingness To Pay (WTP) for water quality improvement in Suyeong River in Busan. To estimate the non-market value of the Suyeong River, the WTP of Busan citizens for water quality improvement was estimated, applying Contingent Valuation Method (CVM). The WTP for improving the water quality from Grade 4(polluted water) to Grade 2(game fish like bass can live in it) was estimated using the water quality ladder concept of the US Environmental Protection Agency, assuming annual donations for five years. For the CVM, the logistic distribution and Spike Model were adopted. As a result, citizens residing in the surrounding area of Suyeong River expressed a higher WTP. Considering more than half of the Busan citizens are aware of the "conservation of nature and ecosystems" as a major function of the Suyeong River, this higher WTP could serve as a basis for improving the value of urban rivers.

• Environmental and Resource Economics Review
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• v.32 no.1
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• pp.1-26
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• 2023

This study employs the dichotomous choice contingent valuation method to estimate the Value of a Statistical Life (VSL) and the Value per Statistical Case (VSCC) of cancer risk. In contrast to the previous studies, which presented the mortality risk probability directly, the study uses conditional probability, which combines the chance of getting cancer and dying from it. In addition, the study examines the impact of variables that may affect willingness to pay for reducing the risk of death from cancer and getting cancer, such as the impact on daily life and pain levels associated with cancer. The results indicate that the estimated cancer VSL ranges from approximately 952 million won to 3.359 billion won, while the VSCC is estimated to be between about 0.42 billion won and 2.72 billion won. The study finds a significant difference in the VSL depending on whether the reduction in mortality risk is from a decrease in the chance of getting cancer or a decrease in the chance of dying from cancer. However, the effect of impacts on daily activities and pain on willingness to pay is inconclusive.

• Journal of Korean Society of Transportation
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• v.26 no.6
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• pp.143-154
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• 2008

This paper considers option and non-use values of rail services. The total economic value of a given transport service can be classified into use, option and non-use values, other grouping rules can be applied though. The use value is the consumer's surplus from the actual rides of a specific mode. The option value, on the other hand, can be defined as a traveler's willingness to pay for reserving a travel mode, which is not his or her main choice, as a standby alternative. Finally, the non-use value represents benefits that are not attributable to the actual use or option use, but to the vicarious, altruistic, functional and existing worth of a transport service. A stated preference survey based on a double-bounded dichotomous choice is conducted. A survival model is applied to the data collected. Calculations of trip makers' willingness to pay for option and non-use values are based on the parameters of the estimated survival model. Some suggestions for transport appraisal are also presented.

• Environmental and Resource Economics Review
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• v.17 no.2
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• pp.349-379
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• 2008

Otters which are the nearly extinct feral animal as well as indicator species of ecological balance of river have a wide variety of public value. The objective of this paper is to estimate non-market value of preservation of otters' habitats in Cheongju Si and Cheong won Gun. In this research, the one-and-one-half bound dichotomize choice method as a contingent valuation methods is used to derive willingness to pay for the preservation of otters' habitats. 311 residents were surveyed to determine their recognition and willingness to pay for preservation of otters' habitats. The results show that the value of preservation of otters' habitats is 5,904 won per house and month.

• Journal of Korea Port Economic Association
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• v.30 no.4
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• pp.1-28
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• 2014

The purpose of this study is to look through the progress of Yeosu Exposition ex-post facto service, to survey the cognition degree of the general public for it, and to estimate the nonmarket value. For such a reason, this paper examines the planning direction and enforcement situation of ex-post facto service first and then conducts a cognition degree survey of the 900 general public in the nation. Also, this paper carries out the nonmarket value of Yeosu EXPO ex-post facto service using CVM. Estimation results is that the annual value of it is 50.8 billion won and the total value for 5 years is 217.1 billion won. These results mean that there is nonmarket high value besides general market value for Yeosu EXPO ex-post facto service, and government should consider this to determine the future of it.

• The Journal of the Korea Contents Association
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• v.21 no.7
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• pp.171-180
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• 2021

Places exposed to mass media induce behavior by forming curiosity and expectations for potential travelers. The places reported through mass media influence viewers. Among TV programs, the most influential genre is drama, and reality programs that provide immersion with different characteristics from dramas influence viewers' choice of destination. CVM is mainly used for estimating the value of objects that cannot be evaluated in the market, such as tourist destinations. This study conducted an economic valuation of filming locations for dramas and travel entertainment programs using CVM, and then compared and analyzed the research results of the two filming locations. Linear and log logit analysis were performed to measure the willingness to pay for the filming location of the drama/travel entertainment program, and the payment amount was derived. The conclusion of the study is that as the travel cost required to visit the filming location of the drama/travel entertainment program increased, the intention to visit decreased. The amount payable when visiting the filming location of the drama/travel entertainment program was higher than the average consumption amount for a day trip, and the amount payable for the drama was higher than that of visiting the filming location of the travel entertainment program.

• Journal of Korean Society of Transportation
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• v.17 no.2
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• pp.193-198
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• 1999

An asymptotic distribution of the ratio of two normal vectors is estimated. Using the estimated asymptotic distribution, an approximation method to estimate confidence interval of passenger's value of travel time is proposed. As a result of empirical study the 95% confidence interval of value of travel time of home-to-work trips in city of Seoul is estimated at ￦7341.25$\pm$1945.05/hr.

• Journal of Korea Water Resources Association
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• v.50 no.7
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• pp.467-473
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• 2017

Recently as algae phenomenon has been intensified, the need for additional dam flushing has been raised. To establish the more rational policies concerning the dam flushing, it is necessary to evaluate the dam flushing. This paper attempts to examine households' willingness to pay (WTP) for dam flushing by using a contingent valuation (CV). Especially, unlike other CV studies which used maximum likelihood estimation (MLE), this study employed Bayesian approach. This study surveyed a randomly selected sample of 1,000 households nation-widely, and asked respondents questions in person-to-person interviews about how they would be willing to pay for the additional dam flushing. Respondents overall accepted the contingent market and were willing to contribute a significant amount (1,909.4 won), on average, per household per year. The aggregate value amounts to approximately 35.7 billion won per year.

• Environmental and Resource Economics Review
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• v.17 no.4
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• pp.775-812
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• 2008

This paper provides a theoretical approach to the New Zealand's Catch-Balancing Regime (CBR) with a reporting requirement under the Individual Transferable Quota (ITQ) system. The enforcement strategy depicted draws on recent literature regarding practical applications of the Revelation Principle. New Zealand's use of CBR-specific instruments such as deemed values, remains to be improved. However, some of its features can constitute a valuable example for regulators seeking to improve their methods of dealing with issues as bycatch or overfishing in order to maintain Total Allowable Catch (TAC) levels under emerging ITQ systems. The enforcement strategy analyzed has the potential to provide a more sustainable and efficient management of the fish stock, reduce discarding and stabilize monitoring costs, while improving the level of reporting compliance.