• Journal of the Korean Regional Science Association
• /
• v.31 no.3
• /
• pp.79-97
• /
• 2015

This paper attempts to quantify the economic value of the recreational benefits from the Jangheung dam. To this end, the contingent valuation (CV) survey was administrated to a sample of randomly selected 1,000 households from the national population. We used single-bounded model as a method of eliciting the willingness to pay (WTP) and applied a spike model to deal with zero WTP responses (72.5%) from the CV survey. The respondents were asked to state whether to pay a given amount through additional higher income tax once a year for next ten years. The results show that the annual recreational benefits of the Jangheung dam are estimated to be 1,348 won per household, which is statistically significant at the 1% level. Expanding the value to the national population gives us 24.9 billion won per year.

• Korean Journal of Environment and Ecology
• /
• v.36 no.6
• /
• pp.676-683
• /
• 2022

Due to the effects of rapid changes in the living environment since 2000 and the recent unforeseen pandemic, people are refraining from domestic and international traveling and movement, and outdoor activities for health and the public value of forest trails, called Dullegil Trail in Korea, have become more important. This study estimated the environmental value of the tentatively named "East-West Trail," which connects the forest trails crossing Chungcheong and Gyeongsang Provinces using CVM (Contingent Valuation Method). It surveyed visitors to the East-West Trail, and 725 questionnaires were used for analysis. The average characteristics of respondents were those who exercised 2-3 times per week, visited a forest trail not far from their residence with friends or family, and showed a tendency to spend 50 thousand Korean won or more per visit. Visitors to the Dullegil Trail felt that there was a shortage of information boards on the forest trail, and they preferred a shelter in appropriate locations. We used a double-bounded dichotomous choice (BDDC) logit model proposed by Hanemann to measure the conservation value of the East-West Trail. It was estimated that the environmental value that a visitor to the East-West Trail could obtain was 30,087 won per trip. The estimated environmental value of the East-West Trail can be converted to about 94 billion won total visitors annually based on the population belonging to the direct-use zone near the East-West Trail. As there has been no study on the environmental value of forest trails using CVM, the results of this study will be able to suggest the feasibility of the government policies on forest trails.

• Journal of the Korean Regional Science Association
• /
• v.37 no.1
• /
• pp.3-14
• /
• 2021

Due to COVID-19, the importance of public medical facilities, especially hospitals specializing in infectious diseases, is rising. Despite the government's strong will, the establishment of public medical facilities and infectious disease hospitals has not been properly established. This is because the overall system related to the construction of public medical facilities does not sufficiently reflect social and economic changes and the trend of the times. The purpose of this study is to derive limitations and problems related to the guidelines for preliminary feasibility studies of public medical facilities and to present alternatives. This study proposes 'Option Value' as an alternative. Since the option value is a willingness to pay for an uncertain situation, it is theoretically reasonable and reasonable to reflect it as an additional benefit. Normally, the value of existence is not seen, but the system that is seen in a crisis is in the 'medical and health'. Therefore, it is necessary to find a system that is invisible even in the feasibility evaluation in the medical and health, and constantly improve and develop a methodology that can estimate changes in the welfare of citizens within the system. I expect this study to play a role as a catalyst.

• Journal of Digital Convergence
• /
• v.19 no.11
• /
• pp.301-313
• /
• 2021

The automotive industry is facing a paradigm shift, changing from owning to sharing and from manufacturing to service. However, it is hard to conclude that the economic value of smart mobility service is always positive to users. Cost related to owing or share a vehicle is very hard to estimate from the perspective of potential users as well as the benefit of the service. Focusing on the cost side of the story, this study develops a cost estimating model based on three main factors: electrification, advanced driving assistant systems (ADAS) function, and participation of ride-sharing service. As a result of the model analysis, low cost was estimated as a result when receiving cost benefits such as electrification and ride-sharing participation. Various factors were analyzed through sensitivity analysis also. These results can provide useful insights into the cost prediction and strategies for potential users and manufacturers on smart mobility service market.

• Journal of Animal Science and Technology
• /
• v.55 no.3
• /
• pp.179-184
• /
• 2013

Willingness-to-pay (WTP) for pork produced by quality test was determined using a contingent valuation method. Three model studies including a dichotomous-choice and two double dichotomous-choice types were conducted. The respondents in this study appropriately understood the contingent valuation and the suggested price was significant as a characteristic variable. The results imply that there is lower chance to select pork produced by the quality test, as the price difference is greater between conventional and quality-tested pork. WTPs in double and single contingent valuation models were 735 and 547 won/100 g, respectively. WTP was increased with increasing the educational level of respondents. The average WTPs analyzed by convariate were 1,015 won/100 g for double contingent valuation and 580 won/100 g for single contingent valuation. Considering the minimum price of WTP of pork produced by quality test (547.4 won/100 g), the total economic value was estimated to be 5,173,600 million won and per capita customer value was 106,000 won. Therefore, providing an institutional strategy for pork quality test will be beneficial for the consumers.

• The Journal of Korean Institute of Communications and Information Sciences
• /
• v.35 no.8B
• /
• pp.1241-1250
• /
• 2010

With the expanding concept of Smart Grid, it is widely used by mixing with various industries, and therefore the potential and value of Smart Grid should be verified and evaluated. To this end, this study is conducted to look at industrial fields that can be expanded by mixing with Smart Grid, and based on it, draw an economic ripple effect of the Smart Grid industry. To grasp the spread direction of the Smart Grid industry, Our study focused on Smart Grid participants and new businesses that can be derived. Through this, energy, construction, home appliances, and automobile industries are selected as convergence businesses. Our study estimated an economic effect by drawing generation rates from input-output tables that applies the selected industry fields and Korean projections. According to the result, effect on total production inducement will be about 77 trillion won, effect on total value added inducement will be about 24 trillion won, and effect on total employment inducement will be about 31 trillion won. Through this, various functions of Smart Grid and the ripple effects on national economy could be expected.

• Korea journal of population studies
• /
• v.28 no.2
• /
• pp.97-129
• /
• 2005

Korean society recently witnesses a rapid lllcrease of suicide across all ages. In particular, suicide in old ages jumps up ill a very unexpected way. Furthermore, the order of suicide in the cause of death across all ages is becoming higher and higher in Korea. This study provides details of suicide that occurs in Korean society with the comparison to that of Japan at the descriptive level. It is not well known why suicide in Korean surges recently. Several previous research show the possibility that surging suicide is closely related to the worsened economic conditions especially since the economic crisis in 1997. They adopt economic growth, unemployment rate, income distribution, household finance index as economic indicators in their research. This study also adopts those indicators and conducts a correlation analysis in two periods, 1990-1997 and 1998-2004. It is found that there is no correlation between economic indicators and suicide in the period of 1990-1997. On the other hand, there is a very strong correlation between income distribution and suicide in the period of 1998-2004. Other economic indicators except income distribution does not have any significant correlation with suicide. This finding suggests that currently increasing suicide in Korea may be a result of economic polarization, which has been worsened since the economic crisis in 1997.

• Environmental and Resource Economics Review
• /
• v.14 no.1
• /
• pp.1-24
• /
• 2005

One of the most important factors that determine the quality of a stated preference study is questionnaire design. This study introduces strategies for enhancing the rationality and testing for the validity of choice experiments(CE) using "example" choice questions that mimic the main choice questions. From the case study of WTP for reduced radon radiation exposures in the home, the study found that screening out irrational responses, 12% of the effective responses, resulted in a meaningful increase in model fit. Meanwhile the study tested for anchoring effects, as a way of confirming the divergent validity of the study, by looking at equality of models estimated for two subsamples. The overall test results were mixed. The pros and cons of the questionnaire design strategy employed are also reported.

• The Korean Journal of Applied Statistics
• /
• v.37 no.1
• /
• pp.13-38
• /
• 2024

As economic uncertainties have increased recently due to COVID-19, there is a growing need to quickly grasp private consumption trends that directly reflect the economic situation of private economic entities. This study proposes a method of estimating private consumption in real-time by comprehensively utilizing big data as well as existing macroeconomic indicators. In particular, it is intended to improve the accuracy of private consumption estimation by comparing and analyzing various machine learning methods that are capable of fitting ultra-high-dimensional big data. As a result of the empirical analysis, it has been demonstrated that when the number of covariates including big data is large, variables can be selected in advance and used for model fit to improve private consumption prediction performance. In addition, as the inclusion of big data greatly improves the predictive performance of private consumption after COVID-19, the benefit of big data that reflects new information in a timely manner has been shown to increase when economic uncertainty is high.

• Journal of Korean Society of Forest Science
• /
• v.112 no.3
• /
• pp.322-330
• /
• 2023

Amid the recent intensification of climate change, the decline of subalpine coniferous species is evident. Accordingly, the Korea Forest Service is conducting research to establish conservation measures, identify the causes of the decline of subalpine coniferous species, and establish conservation strategies for seven species of conifers in the alpine region. This study used an economic value evaluation method to present objective data to inform the need for and value of conservation of endangered coniferous species through the recognition of endangered coniferous species and evaluation of conservation value among coniferous species conservation strategies in endangered alpine areas. A contingent valuation method was applied. As a result, the estimated conservation value per household of endangered alpine coniferous species was 49,181 won.