• Journal of Korean Society of Environmental Engineers
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• v.30 no.12
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• pp.1245-1254
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• 2008

Proposing a method for the estimation of the social cost for global warming impact (external cost) is the aim of this paper. Both the endpoint approach and conjoint analysis were applied to estimating the social cost for global warming. The endpoint approach was used to assess the damage on the safeguard subjects by global warming due to the emission of greenhouse gases into the atmosphere. The conjoint analysis was used to estimate the economic values for safeguard subjects which measure the social preferences and willingness to pay (WTP) on safeguard subjects. The economic values of human health and social asset were estimated at 62,261,700 Won / DALY (yr) and 10,000 Won / 10,000 Won, respectively. Moreover, cost factors of GHGs were calculated by multiplying the damage factor which is quantified the unit damage on safeguard subject and the economic value. In the case of CO$_2$, the cost factor was calculated at 13.52 Won / kg (13,520 Won / ton). External cost of products or services can be calculated by multiplying the GHG inventory result of products or services by the cost factor of each GHG. inventory.

• Journal of Korean Society of Transportation
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• v.30 no.6
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• pp.3-12
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• 2012

Additive willingness-to-pay (WTP) for leisure-travel time saving focused on the Iksan-Pohang Expressway and the Donghae Expressway was surveyed during the summer months to estimate the value of travel-time savings (VTTS) for non-business leisure trips. Travelers traveling between 2 and 3 hours on Iksan-Pohang Expressway had WTP of 723 won per 10 minutes of leisure-travel time savings and those traveling between 3 and 4 hours on Donghae Expressway had WTP of 854 won per the same. Based on this survey, we learned that WTP in leisure travel time savings increased with the total travel time. 300 effective samples for each expressway were collected, and estimation was separately conducted on the basis of Cox test.

• Journal of the Korean Institute of Landscape Architecture
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• v.49 no.4
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• pp.41-54
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• 2021

This study targets the urban park corresponding to the core areas (Hubs) of Green Infrastructure and estimates their value utilizing the Contingent Valuation Method (CVM) and determines the planning factors which affect them. The research aims to provide basic data for supporting the value improvement in the planning stage for urban parks representing green infrastructure. The primary purpose of this research is to derive variables that affect economic value and planning factors to improve the use-value of urban parks, one of the Hubs of the green infrastructure. In this study, Sejong Lake Park, located in Sejong City, is the target site. This study collected the responses of 105 people by conducting a survey on the intention to pay for the use-value and the planning factors that affect it, targeting visitors to Sejong Lake Park. The study conducts Contingent Valuation Method (CVM) on this survey responses. The results are as follows: first, as a result of analyzing the variables which affect willingness to pay for use-value, residence and age influence the willingness to pay significantly among socioeconomic characteristics. Next, the survey responses of Double-bounded dichotomous choices (DB-DC) CVM are converted into variables through statistic techniques. Furthermore, the variables are used for a Logit model to draw coefficients. The average willingness to pay per person for the use-value of Sejong Lake Park using the derived coefficients was approximately found to be 8,597 won. Therefore, as of 2019, Sejong Lake Park, with a total of 430,000 visitors, is estimated to have an annual economic value of 3.7 billion won. Third, the average Likert scale of the planning factor affecting the decision to pay for the economic value of Sejong Lake Park was the highest along the waterfront landscape, and the convenience facilities and waterfront landscape showed the highest willingness to pay, 10,000 won. In the range between 2,500 won and 5,000 won, the waterfront area ranks highest. Therefore, it can be said that visitors to Sejong Lake Park take account of the economic value of using the waterfront landscape the most. This study is meaningful as a thesis on use-value and the planning factors that affected value evaluation results of urban parks, and the analysis of the correlation between the planning factors of urban parks as hubs located in urban areas.

• Environmental and Resource Economics Review
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• v.28 no.3
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• pp.355-383
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• 2019

This study is to investigate whether averting costs for wearing $anti-PM_{10}$ masks and using air purifiers at home to reduce exposure from $PM_{10}$ are influenced by subjective risk perceptions and/or objective $PM_{10}$ concentration levels, whose estimates will be used to measure the willingness to pay for $PM_{10}$ risk reduction. An empirical analysis was conducted on a sample of 1,224 respondents who participated in the web-based survey in the late October of 2017. As we reflect the potential endogeniety bias in the estimation of averting cost functions of using air purifiers, the coefficients of risk perception were differed by 6~7 times. Respondents. subjective risk perceptions were influenced by individuals' knowledge, attitudes and demographic variables, as well as the levels of $PM_{10}$ concentrations in their residential region. The marginal willingness to pay for risk reductions at the mean levels of their risk perceptions were measured at 1,000 won per month from wearing $anti-PM_{10}$ masks and 6,000 won for using air purifiers respectively.

• The Korean Journal of Financial Studies
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• v.11 no.1
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• pp.243-273
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• 2005

본 연구는 국내기업의 자사주매입결정에 영향을 미치는 매입동기와 매입동기들의 상호관련성, 시간에 따른 매입동기의 변화를 분석하였다. 분석에 이용된 자료는 1994년 1월에서 2002년 12월까지 자사주매입을 실시한 기업의 실제 매입규모이며, t검정과 토빗모형의 추정을 통해 다음과 같은 사실들을 발견할 수 있었다. 첫째, 정보비대칭의 지표인 기업규모변수는 대부분의 기간에서 자사주매입결정에 양(+)의 영향을 미치는 것으로 나타났다. 이것은 정보비대칭수준이 낮을 것으로 예상되는 대기업이 자사주매입에 적극적이라는 것을 의미한다. 또한, 잠재적 저평가의 지표인 시장가치대장부가치변수는 연도별로 양(+)과 음(-)의 계수가 혼재되어 있어 일관성 있는 결과를 도출할 수 없었다. 이러한 결과는 자사주매입이 저평가를 시장에 신호하기 위한 것이라는 저평가가설을 기각하는 것으로 볼 수 있다. 둘째, 기업의 지불수준을 측정하는 지표인 여유현금흐름변수들은 대부분의 기간에서 자사주매입결정에 양(+)의 영향을 미쳤으며, 추정된 회귀계수들의 비교를 가능하게 하는 부분효과평균도 상대적으로 높게 나타났다. 이러한 결과는 기업의 여유현금흐름증가가 자사주매입결정에 강한 영향력을 미치는 요인이라는 것을 의미한다. 셋째, 기업의 레버리지수준을 측정하는 변수도 대부분의 기간에서 자사주매입결정에 음(-)의 영향을 미치는 것으로 나타났다. 이것은 자사주매입이 기업의 자본구조를 변경하기 위한 동기에서 결정된다는 것으로 해석될 수 있다.

• Journal of the Korean Institute of Landscape Architecture
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• v.44 no.4
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• pp.1-13
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• 2016

To detail a picture of the economic value of Miscanthus landscape conservation in terms of cultural services aspects of Ecosystem Services, Sunghaksan(Mt.), Hwawangsan(Mt.) and Jaeyaksan(Mt.), which are known for their Miscanthus colonies, were chosen as survey sites. After examining the willingness to pay for the value of Miscanthus landscape conservation by targeting of visitors each study area, the economic value of Miscanthus landscape conservation per capita aspects was evaluated using Contingent Valuation Methods(CVM) from the collected willingness to pay for economic value of Miscanthus scenery by site. After using the target Chi-square test to analyze the differences among each site, the correlation between specific variables was investigated. Willingness to pay for the Miscanthus landscape conservation was found to increase as the respondents' income became higher. The more environmental conservation efforts were being made in their daily life, the higher willingness to pay was for Miscanthus landscape conservation. Likewise in other studies, the higher the bid was, the less willingness to pay was. The per capita assessment of the Miscanthus landscape value of the logit models in the dual estimated using the factor extracted with each of the injected variable bounds was estimated for Seunghaksan (\38,277), Hwawangsan(\38,648), and Jaeyaksan(\48,891). The average of the three sites was estimated to be \38,679. Assessment of the economic value of these Miscanthus landscape sites saw high willingness to pay by visitors when compared to the current market price inflation, such as watching movies or amusement park admission, which could mean that visitors recognize the value of ecosystem services from nature in evaluating the Miscanthus landscape.

• Proceedings of the KIEE Conference
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• 2006.07a
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• pp.351-352
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• 2006

우리나라의 변동비반영시장(CBP)은 자동발전제어(AGC)의 제공수준에 관한 정량적 평가방법을 수립되지 않아, 동 서비스의 제공과 직접적으로 관계없는 에너지 공급량에 비례하여 공급대가를 지불하고 있다. 이에 따라 전력거래소는 시장효율 향상을 위한 제도개선의 일환으로 발전기별 이행성과 및 기여도를 반영하는 AGC 정산체계를 수립하였다. 새로운 정산체계에서 발전기별 AGC 이행성과와 기여도는 각각 계통의 기대출력에 대한 실제출력의 통계적 상관계수와 EMS의 제어참여율로 결정된다. 본 논문은 AGC 정산체계의 개선방안에 관한 세부내역 및 근거를 설명하고, 사례분석을 통해 방법론의 유효성을 입증하고 있다.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.13 no.2
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• pp.141-149
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• 1993

Production of hydro-energy is random in its output amount due to the characteristics of the reservoir inflows. Therefore, it is necessary to provide the rationality in determining the amount of energy for a supply contract. This study presents a methodology for determining reasonably reliable amount of the energy supply considering the energy sale-incomes associated with the penalties which are subject to inflow-reliabilities. The objective function consists of the returns of energy sales and the risk-loss function to reflect statistically relevant risks. A range of the coefficient of the risk-loss function was figured out by its sensitivity analysis. The risk-loss herein means the penalty which should be paid by the energy supplier in case that the level of the energy supply is behind the contracted amount. And the reliability of reservoir inflow is defined by the exceedance probability of the inflow. The log-normal distribution was accepted as the probability density function of monthly inflows on the level of significance at 5%. Golden-ratio searching was applied to identify the optimal reliability and Incremental Dynamic Programming was used to maximize generation of the hydro-power energy in reservoir operation. The algorithm was the applied to the Daechung multi-purpose reservoir and hydro-power plant system in order to verify its usefulness.

• Proceedings of the Korea Water Resources Association Conference
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• 2016.05a
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• pp.78-78
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• 2016

다이옥산, 페놀 등의 오염물질 유출로 인한 수질오염사고 발생시 사건 유형에 따라 단수로 인하여 국민들이 불편 겪거나 및 유해물질에 노출되는 등 안전성에 대한 우려가 있다. 본 연구는 수질 오염사고 발생시 댐 추가방류를 통해 위와 같은 문제를 해소하는데 기여하여 단수 등으로 인해 소비자들이 겪을 수 있는 불편을 방지하여 소비자효용의 감소를 줄이고, 안전성측면에서 수자원에 대한 소비자효용을 증가시키는 편익을 추정하고자 한다. 본 연구는 제주도 제외 전국 1,000 가구를 대상으로 한 일대일 개별면접 방식의 설문조사 수행하여 자료를 얻었고, 이 자료를 바탕으로 가구당 WTP의 대푯값을 추정하기 위해 KDI의 CVM 분석지침(2012)을 적용하였다. 수질오염사고 발생시 댐 추가방류에 대한 대푯값 WTP는 2,132.7(원/년/가구)로 추정되었다. 또한 추정결과 상수항 및 제시금액 항의 추정계수는 1.1451(t-값 5.83)와 -0.7286(t-값-5.54)로 모두 유의수준 1%에서 통계적으로 유의하여 설문조사가 제대로 수행되었음을 확인하였다. 국내에는 수질개선과 관련된 다양한 연구들이 존재하지만 댐 추가방류를 통한 수질오염사고 해소 편익 등과 특정사안에 대한 연구들은 존재하고 있지 않다. 따라서 본 연구의 분석결과는 수질 오염 사고로 인한 댐 추가방류의 가치에 대한 선제적인 연구로서 방법론적인 지침과 향후 수자원 개발 및 활용을 위한 정량적인 정보로 활용될 수 있을 것이다.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.10
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• pp.209-214
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• 2017

The purpose of this study is to identify the factors that led greenhouse grape farms to delay their heating periods after the coming into force of the Korea-Chile Free Trade Agreement (FTA). Panel data on the cropping (system) changes from 2004 through 2016 were used for the analysis. According to the panel logistic model, the estimated coefficient of the cultivation area was 0.0002, which was statistically significant at the 10% significance level, the estimated coefficient of grape imports was 1.4258, which was statistically significant at the 1% significance level, and the estimated coefficient of the regional dummy was 0.808, which was statistically significant at the 5% significance level. The results indicated that the use of wider cultivation areas, increase in grape imports, and colder climate(in the mid-northern part of Korea) increased the likelihood of delayed heating. The Korean government is offering direct payment programs and business closure support to the greenhouse grape farmers. While these actions can relieve the damage caused by the increase in grape imports, they will not provide the ultimate solution. Various support measures are needed, such as renewing the varieties to meet the changing demand of grape consumers, providing agricultural materials to reduce the heating expenses, and modernizing greenhouse facilities to improve the energy efficiency and reduce the costs.