• Journal of the Korea Academia-Industrial cooperation Society
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• v.15 no.9
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• pp.5783-5789
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• 2014

Since 2002, many domestic companies have been certified for ISMS. On the other hand, certification, such as the need for ost-effectiveness evaluation, is not specifically enforced. Therefore, for more than 10 years, the ISMS implementation and certification system has been used for performance and cost effective business management. In this study, a model for analyzing the effect of certification organizations, ISMS development, and an analysis of the effect of a standardized system for the study was prepared. To this end, the existing maintenance organizations ISMS certification survey was conducted through an analysis of the economic effects. ISMS certification continues to expand or maintain the policy for improvement. The survey data collected by the analysis mechanism for the economic effects of CVM was analyzed.

• Information Systems Review
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• v.20 no.2
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• pp.1-19
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• 2018

In many countries, governments invest a substantial amount of budget in open government data (OGD) for governmental performance and transparency. To understand the actual performance of such policies, the governments should measure the realized value. Many organizations and researchers have attempted to assess the value of OGD. However, they have neglected a perspective of consumers who benefit from OGD. Moreover, little research has quantified the economic value. This research examines extant methods of intangible asset valuation to quantify the economic value of OGD in a citizen perspective. In consideration of the extant research methods and the characteristics of OGD, the contingent valuation method is the most appropriate because it effectively reflects various users and their purpose of use. We then conduct a survey of citizens living in Seoul, Korea and assess the economic value of OGD provided by the Seoul government. Findings show that citizens' willingness to pay (WTP) differs across respondents' prior experience, tax resistance, perceived benefit and perceived reality of virtual scenario, but it does not differ across their demographics. WTP also significantly varies across the question formats. We discuss the reliability of the results and implications for future research.

• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.12 no.3
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• pp.42-52
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• 2013

In this study, value of VMS (Variable Message Sign) traffic information is estimated by using CVM (Contingent Valuation Method), which is developed to quantify the value of non-marketable goods in environmental economics. CVM is used to estimate the value of goods provided by a project under consideration and then the project feasibility can be indirectly examined on the basis of the estimated value. This study focuses on estimating to estimate value of traffic information provided through VMS, a part of the transportation system enhancement project by Korea Expressway Corporation which is aimed at mitigating traffic problems on expressways. In particular, this study analyzes value of information separately by trip purpose, information type, and traffic flow condition. A state preference survey was designed to estimate the value of non-marketable traffic information. To maximize reliability of the survey results, a pilot survey was taken before the main survey. The open-ended question method was adopted in capturing users' willingness-to-pay. Both Tobit and binary Probit models were applied in estimating the value of VMS traffic information and their parameters were estimated using the maximum likelihood estimation. The estimation results suggests that the value of traffic information perceived by users is 518.28 KRW.

• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.5 no.2 s.10
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• pp.29-43
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• 2006

Highway ARS service made several times handling of cellular phone for accept the one information. But, use the cellular phone while driving is against the law that 'Road Traffic Act' and wield influence on safety by degrade driver's attention that causes reduced section of concentration. On this study, propose a new type service that more useful and safer witch improved of existing ARS service to it served for cellular phone. For the analyze problem in existing ARS service, collect and analysis that ARS using status data and highway overall speed data, and then offer a better service type which based on improvements to that. Also, make a comparative analysis including measure of degree about easy to use and safety between two services by using the Stated Preference method, as a result of verifies the effect of new type service Finally, for measure of the effect the value of improved ARS service type that used willingness to pay in CVM method.

• Environmental and Resource Economics Review
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• v.20 no.1
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• pp.119-153
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• 2011

This study reviews various aspects of model formulating processes of dichotomous choice responses of the contingent valuation method (CVM), which has been increasingly used in the preliminary feasibility test of Korea public investment projects. The theoretical review emphasizes the consistency between WTP estimation process and WTP measurement process. The empirical analysis suggests that two common parametric models for dichotmous choice responses (RUM and RWTP) and two commonly used probability distributions of random components (probit and logit) resulted in all most the same empirical WTP distributions, as long as the WTP functions are specified to be a linear function of the bid amounts. However, the efficiency gain of DB response compared to SB response were supported on the ground that the two CV responses are derived from the same WTP distribution. Moreover for the exponential WTP function which guarantees the non-negative WTP measures, sample mean WTP were quite different from median WTP if the scale parameter of WTP function turned out to be large.

• Environmental and Resource Economics Review
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• v.31 no.4
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• pp.619-644
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• 2022

The purpose of this study is to estimate the economic benefit of improving ground water quality in Jeju Island, where groundwater pollution has recently become a social issue and various water quality improvement projects are being promoted. By applying the contingent valuation method, an online survey was conducted on Jeju Island residents to analyze the response data of 542 respondents and estimate the mean willingness to pay using 16 models. The estimation of the double-bounded dichotomous choice model confirmed that each household was willing to pay 28,008 won per year, with the willingness to pay estimated at a minimum of 17,762 won and a maximum of 37,416 won based on different models. The total annual benefit for Jeju Island's ground water quality improvement was estimated to be about 8.66 billion won , and socioeconomic factors influencing willingness-to-pay were investigated. This study is expected to serve as a foundation for the development of environmental improvement policies by assisting in the understanding of Jeju Island's unique water resource environment.

• Journal of the Korean Society for Library and Information Science
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• v.44 no.4
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• pp.231-247
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• 2010

This research examines a number of theoretical and practical issues when measuring the economic value of library services. In particular, using two recent studies conducted in Korea as illustrations, the study shows how various measurement decisions affect the final outcomes in the economic valuation of library services and thus points to the need for a more reliable study design. Specific areas of measurement discussed include the following: scope of measurement, application of CVM(Contingent Valuation Method), time vs. monetary value measurement, dealing with outliers, allowing alternatives, and the use of estimation. ROI(Return on Investment) scores or benefit cost ratios vary significantly according to different measurement choices even in the same study. There is a need for collecting qualitative data that complements the quantitative data typically collected in economic valuation studies. The outcome of economic valuation of library services should be considered as one of many representations of library values. Practitioners and researchers should exercise caution in interpreting those results but be able to leverage them to better communicate the value of library services.

• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.3 no.2 s.5
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• pp.55-68
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• 2004

On this research, Contingent Valuation Method which is universally applicable to non market goods and being developed in a field of the environmental economics is used to estimate appropriate value of freeway traffic information. Imaginary scenario is designed to estimate appropriate value of freeway traffic information and major in traffic-related field is used & man-to-man interview carried out to enhance a reliance of questionnaire. Open-ended question and a way of payment card are in use each other. make use of Multiple Regression Model in Contingent Valuation Method of traffic information and find an effect on the value of the traffic information. As a result of research, intention to pay for usage per information is regarded as a somewhat higher but monthly cost is lower than they have to. It is concluded that value and usefulness of the individual information is nod in approval but a majority of user's recognition that publish information must be provided free of charge lowers intention of payment.

• Journal of the Korean Institute of Landscape Architecture
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• v.38 no.2
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• pp.25-36
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• 2010

The generally known important functions of forests include air purification and the health benefits that humans can receive when relaxing and enjoying recreation in the forests. In recent years, people have appreciated the value of the natural environment but it is not easy to answer the question how much monetary value a natural environment has. Because environmental property is public property, which is not traded on the market, market prices cannot be established, so it is not easy to assess the currency value. Methods for estimating environmental property value have been studied by economists. The representative method for measuring environmental property value is a contingent valuation method, or CVM. Various methods have been researched and attempted along with the development and fusion of mathematics, statistics, and economics. Representative methods of CVM are single-bound and double-bound logit and probit methods. This study has been carried out to compare four estimates. Estimates are as follows: the lowest estimate is derived from a single-bound logit WTPmedian while the highest estimate is from double-bound probit WTPmean. While there are some preceding studies on price estimation and methods of measurement through CVM, they offer only partial comparisons. This study suggests four analytic methods and prices through 1,123 questionnaires. The results can be used for the subsequent comparison of estimate prices and the methods of measurement

• 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.