• The KIPS Transactions:PartC
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• v.8C no.5
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• pp.615-620
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• 2001

This paper is a study on the model that measures economic values for the non-market properties of Electronic Commerce(EC). For development of this model, first of all, we reviewed the properties of EC service, and looked around the relation between customer satisfaction and/or payment value and EC properties. In addition, we checked the method to measure economic values of these properties. This measurement method is the contingent valuation method which is a method of measuring the value of the environmental product. We modified it to adapt to the EC. Finally, in this paper, we proposed an economic value model which measures the value of willingness to pay(WTP) to our objectives. However, there could be some restrictions at the time when surveying empirically. Therefore, the succeeding study should be done in order to improve these restrictions some day.

• Proceedings of the Korea Water Resources Association Conference
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• 2011.05a
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• pp.102-102
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• 2011

다목적 댐이 사회경제적으로 많은 편익을 제공함에도 불구하고 댐에 대한 부정적인 여론이 만연하면서 댐의 사회경제적 편익에 대해서는 상대적으로 등한시 되어 왔다. 이러한 이유중 하나는 댐 운영으로 인해 발생되는 사회경제적 효과에 대한 정량적 분석이 어렵기 때문이다. 다목적 댐 운영으로 인해 발생하는 중요한 효과는 잉여 수자원을 활용하여 사계절을 안정적으로 생활용수 및 공업용수를 공급할 수 있다는 것이다. 또한 최근 환경과 생태계에 대한 국민적 관심이 증가하면서 하천유지용수와 환경개선용수 등 다양한 용수의 수원으로서 댐의 역할이 증가하고 있다. 이외에도 댐 운영을 통해 얻어지는 수력발전은 온실효과 저감에 기여하고 있다. 본 연구는 다목적 댐 운영으로 발생하는 용수공급 및 용수활용의 경제적 가치를 추정하여 다목적 댐의 사회경제적 기여효과를 정량적으로 제시하였다.

• Journal of Korea Water Resources Association
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• v.45 no.4
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• pp.373-381
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• 2012

The information on the economic value of industrial water use is widely demanded in policy analysis area as well as academic research area. Therefore, this study attempts to obtain more accurate economic value of industrial water use using the economic theory. To this end, we conducted a survey of 1,017 manufacturing firms and estimated the economic value of industrial water use based on the concept of value of marginal product (VMP). Moreover, this study tried to estimate the VMP of three industrial water types, river water, precipitated water, and purified water. The results show that the VMPs of river water, precipitated water and purified water are estimated to be 769.24 won/$m^3$, 896.76 won/$m^3$ and 1,861.95 won/$m^3$, respectively. The value for the precipitated water found in this study is not significantly different from that (885.1 won/$m^3$) used in the pre-feasibility test implemented by Korea Development Institute (KDI). These imply that the latter is appropriate for evaluating the economic benefit of supplying industrial water, though it is based on 2003 Industry Survey.

• Environmental and Resource Economics Review
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• v.14 no.1
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• pp.25-50
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• 2005

This study estimates the willingness-to-pay (WTP) for avoiding the destruction of a first-grade ecological area by means of contingent valuation method. Specifically, we employ the dichotomous choice technique along with the follow-up questionnaires. Our analysis implies the yearly WTP per household for avoiding the destruction of the ecological area of 100,000 pyongs is 8,898 won with the 95% confidence interval of 6,611~11,976 won. We estimate the asset value of that area to be 1,707 billion won with the 95% confidence interval of 1,269 to 2,298 billion won. We also decompose the total value of the area into the value of direct (22%) and indirect (38.8%) use, the option value (19.9%) and the conservation value (21.3%). Although using these data for SEEA (the system of integrated environmental economic accounting) is bound by certain restrictions, one could employ our empirical findings as advisory information for decision making in the process of prior environmental review or for assessing the environmental impact.

• Environmental and Resource Economics Review
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• v.14 no.1
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• pp.101-134
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• 2005

Economic feasibility analysis for the public projects such as sewer improvement project differs from the one for the project by profit organization in that the former has to take into consideration the public benefit that cannot be priced in the market. This study presents a model case study for the economic feasibility analysis for the sewer improvement project by the City of Gumi, Korea. The project is planned for the period of 2003~2021. It utilized Contingent Valuation Method(CVM) to assess the public benefits such as improvement of environmental quality and quality of life that can not be priced in the market. WTP(Willing-to-pay) of a household of the Gumi was estimated at 2,865 Korean Won on average. The result of an economic feasibility test including the estimated WTP indicates that B/C ratio of the project turned out to be 0.97, slightly less than 1. This study is the first application of WTP estimated by CVM to the economic feasibility analysis of public project in Korea. It is expected to contribute to the decision makings in the public policy domain as well as academic development.

• Journal of the Korean Regional Science Association
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• v.31 no.3
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• pp.39-54
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• 2015

To assess an economic value of Cheonggyecheon river restoration project, an in-depth exit survey data was collected to apply travel cost method in this study. Poisson model, Negative Binomial, Zero-truncated Poisson, and Zero-truncated Negative Binomial model were executed due to the nature of count data. Empirical results showed that regressors were statistically significant and corresponded to general consumer theory. Since our survey data showed over-dispersion, Zero-truncated Negative Binomial was selected as an optimal one to analyze travel demand of Cheonggyecheon by model goodness of fit test among those aforementioned empirical models. Estimating an economic value of Cheonggyecheon river restoration project, which is known as an ecological river restoration project, we used annual visit of individual traveler and an optimal model. Suffice to say that the annual economic value of Cheonggyecheon river restoration project was estimated as 193.4 billion won in 2013.

• Journal of the Korean Society for Railway
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• v.20 no.1
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• pp.120-127
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• 2017

The South Korean rail authority is constructing a nationwide tourism belt by developing new rail tour routes in an effort to combine local tourism resources with rail service and to create value in regional areas. As massive financial resources are required to develop and operate such tourist trains, governing authorities are required to examine the feasibility of this project as a sound business model and to assess the public benefit and profitability of the project. In this study, the economic feasibility of the tourist trains was assessed with the contingent valuation method (CVM). According to an estimation of the willingness to pay of potential tour train passengers, the surveyed subjects were willing to pay fares that were higher than prices currently published at the time of this study, thereby demonstrating that the economic value they invest on tourist trains may be higher than published prices at the time. For instance, they were willing to pay 28.4% and 54.9% more for the O-train and V-train types, respectively, according to the study, suggesting that the quality as perceived by train passengers for tourist train services is relatively high. The study is significant in that it succeeded in quantifying the satisfaction level of tourist train passengers using quantitative data (additional funds people are willing to pay).

• Environmental and Resource Economics Review
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• v.15 no.3
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• pp.555-574
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• 2006

This study conducts a choice experiment to estimate the recreational values of major dam reservoirs in Korea. A discrete-choice econometric model is estimated with the data of experimented choices. Not only the recreation value of each dam lake but also the values of the characteristics of the lakes are estimated. It is shown that the value function of the amount of reserved water is not monotonically increasing. Water quality is the most important characteristic that affects the recreation value. Various other characteristics of the dams such as the availability of education facility, restaurants, hotels and parking lots also generate substantial amounts of recreational benefits.

• Journal of Information Management
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• v.33 no.4
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• pp.107-128
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• 2002

The purpose of this study is developing a information support system for R&D decision making to maximize economic results of the R&D. This system is composed of studying the model of work flow for R&D decision making, analyzing a technology information, connecting with the databases from KISTI and others, and valuing R&D technology on line. Especially in the case of technology valuation, this system is combined with the valuation model which supports knowledge information for helping more objective estimation.

• Environmental and Resource Economics Review
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• v.12 no.4
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• pp.545-557
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• 2003

A new semiparametric estimator of a dichotomous choice contingent valuation model is proposed by adapting the well-known density weighted average derivative of the regression function. A small sample behavior of the estimator is demonstrated very briefly by a simulation and the estimator is applied to estimate the WTP for preserving the Dong River area in Korea.