• Environmental and Resource Economics Review
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• v.6 no.1
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• pp.87-109
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• 1996

본 논문은 조건부가치측정법(CVM)의 적용에 있어 발생할 수 있는 비구분 효과에 대한 검증과 해석을 제시하고 있다. 한강과 한강을 포함한 4대강의 수질증가에 대한 편익을 조건부가치측정법을 이용하여 추정하고 이 과정에서 비구분효과의 발생 원인을 분석하고 있다. 본 논문에서는 비구분효과의 발생 가설로 대체효과 뿐만 아니라 새로운 가설인 순편익효과를 설정하였다. 연구결과는 대체효과 뿐만 아니라 본 논문에서 세운 새로운 가설인 순편익효과가 비구분효과의 원인으로 크게 나타났다. 본 연구 결과로 볼 때 비구분효과가 조건부가치측정법의 자체적 한계라기 보다는 설문의 구성 및 과정상의 문제임을 제시하고 있다.

• Environmental and Resource Economics Review
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• v.16 no.1
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• pp.65-98
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• 2007

Wetland provides various environmental services as well as marketable goods to human society. This paper presents a meta-analysis of the wetland valuation studies conducted in Korea during the past decade. Meta-analysis is a technique of summarizing research results from the separate but related studies using statistical methods. The objectives of the paper is to identify the main factors affecting the wetland values and to examine the applicability of meta-regression analysis for summarizing the information from valuation studies of natural ecosystem. The total of 64 observations from 24 studies are assembled, and we observe significant differences in wetland values depending on the characteristics of the studies. With the statistical significance, our results indicate that the method employed affects the wetland values while the wetland function evaluated affects little. In addition, we found that the size of wetland is negatively associated with the values, implying that wetland values exhibit the decreasing returns to scale. The evidences from our empirical analysis suggest that the meta-analysis has a potential as a tool to synthesize the research results from valuation studies and to provide useful information to policy makers. However, this study acknowledges that more effort should be dedicated toward the construction of DB on valuation studies as well as the research on the model improvement to enhance the validity and reliability of meta-analysis.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.6 no.4
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• pp.173-194
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• 2011

This paper analyzes quantitative economic effect of accuracy improvement in location based services. This analysis is motivated from the situation that Korea Communications Commission is preparing the notification for 'location accuracy standard.' The analysis includes three level of impacts. Firm level analyzes the impact on revenue of firms. Social level additionally includes consumers' surplus in LBS industry. Lastly, economywide level includes ripple effects to another industries, which uses input-output analysis. The result of analysis shows that the economic value reaches to considerable amount and cost-benefit ratio is considerably high. The consumers' surplus is much larger than revenue increase. This result supports the intuition that many of location based services are for public interest and that the services have much externalities among firms and consumers. This means that the role of government is very important in the execution of accuracy improvement.

• The Journal of the Korea Contents Association
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• v.17 no.3
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• pp.532-541
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• 2017

Design is an extremely critical and important for the prosperity and development of a corporation, and design for children's facilities can be said to be a critical factor not only from a commercial perspective but also one of the critical factors that can be beneficial to the physical, intellectual and emotional growth and development of children. To measure the economic value of publicly designed children's facilities established with the purpose of children's design education, this research study utilized the Contingent Valuation Method. This research study attempts to provide useful information for policy administrators on the usage of both publicly designed children's facilities with high use value and also high non-use value through economic value measurement. To achieve the objectives of this research, the Contingent Valuation Method that utilized both open-ended questions and also double-bounded dichotomous choice methodologies was used. The results of the pre-verification that used the open-ended questions results from 50 test subject participants and the double-bounded dichotomous choice methodology results from 530 test subject participants confirmed that the average annual per person expense was estimated to be KRW 12,463. The gross benefit amount figure estimated for all households in the nation was estimated to be about KRW 219 billion annually.

• Journal of the Korean Society of Marine Environment & Safety
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• v.24 no.5
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• pp.569-575
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• 2018

The need for ice-breaking research ships is growing as interest in the Arctic grows. In Korea the 7,500 ton ship Araon, launched in 2009, is the only icebreaker, and difficulty remains when conducting research at the North and South Pole. Thus, the Ministry of Maritime Affairs and Fisheries is pushing for the construction of a second icebreaker, and an economic valuation of a second icebreaker is needed. Such a study will help reduce controversy about the construction of a second icebreaker and help ensure reasonable decisions. The economic benefits of a second icebreaker were calculated using a contingent valuation method. In this study, a Bayesian Approach was applied, in contrast to previous methodology utilizing the maximum likelihood estimation method. According to this analysis, the average WTP per household was estimated at 1,999 won per year, and the total benefit from the construction of a second icebreaker was estimated at 373.9 billion won per year.

• 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.39 no.12 s.173
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• pp.1031-1042
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• 2006

In recent years, a growing concern exists in watershed and stream improvement projects. Under these circumstances, this paper estimates monetary value of the attributes of alternatives for rehabilitation of hydrologic cycle using choice experiments. Choice experiments shows vivid image and estimates a willingness to pay based on their preference for environmental goods. A preliminary survey shows that the attributes of the Anyangcheon watershed are flood-damage possibilities, Instreamflow, water quality, river characteristic and estimates the tax for the Anyangcheon watershed improvements. We surveyed 200 citizens were selected as samples of watershed beneficing in Seoul and Gyeonggi Province and used conditional logit model to analyze the implicit values of the attributive per household. The benefit of the attributes by province based on the implicit price obtained from estimated parameters were calculated. This study is expected to contribute to the decision-making process for policy-makers by providing useful methodological framework and quantitative information related to watershed improvement projects.

• Journal of Environmental Policy
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• v.9 no.1
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• pp.109-135
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• 2010

This study estimated the social benefits of establishment 01 the Taehwa Field Ecology Park in Ulsan Metropolitan City, using CVM(Contingent Valuation Method) with multiple choices in consideration of respondent's uncertainty. The estimation results 01 lour logit models show that the probability of willingness-to-pay increases significantly with higher income, higher evaluation on the relevancy of establishment of the Park, and male gender, and decreases significantly with the bidding price. Truncated mean household WTP is estimated as 2,409.4 KRW in the MBYES model with the most efficient estimates of WTP among four models. On the basis of the WTP estimates, the present values of total social benefits in Ulsan Metropolitan City are estimated as 236.5 bill ion KRW when applying the 5% discount rate. This result shows that the present values of total social benefits are greater than the total costs in all models, and thus may prove the economic relevancy of the investment for the ecology park establishment.

• Journal of Energy Engineering
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• v.21 no.3
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• pp.301-308
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• 2012

This paper attempts to estimate the demand function for the transport LPG and to analyze long-run and short-run price and income elasticities. In addition, the paper measures consumer surplus and economic value ensuing from the transport LPG consumption by utilizing the estimated long-run price elasticity. The price and the income data are the monthly real transport LPG price and the monthly composite index adjusted by real transport LPG price from 2003 to 2012. Unit root test, co-integration test and error correction model are to take the procedure of estimation of demand curve. The demand for transport LPG is considered to be inelastic and the long-run demand is more elasticity than that of short-run. Price elasticity of demand estimate here is -0.422, and the estimated consumer surplus and economic value in 2010/03 are 966 and 1,781 billion won, respectively.

• Journal of the Korea Society of Computer and Information
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• v.25 no.2
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• pp.221-229
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• 2020

As the cosmetics beauty industry grows into a key next-generation industry, the establishment of an industrialization center is needed, but failure to verify the adequacy and feasibility of the investment could lead to financial burdens. In this study, the project costs and facilities of an industrial center are reviewed to analyze its economic feasibility based on the cost estimates, revenue estimates, estimated profit or loss calculations, and estimated operating cash flows. The profit estimation criteria were analyzed by applying 90 per cent of expected orders for research projects (24 billion won) and 12 per cent of rental rates for testing equipment (4.5 billion won for construction), and the benefit/cost ratio is higher than 1.02 per cent and the net present value is higher than '0' won, and the internal rate of return is also more than 5.06 per cent for all three analytical methods. Therefore, in order for the construction of a cosmetics beauty industrialization center to be economically feasible, it is necessary to maintain research project orders of more than 90 percent and return on equipment rent of more than 12 percent, and a strategic approach is needed to diversify business profits.