• Journal of agriculture & life science
• /
• v.52 no.6
• /
• pp.139-153
• /
• 2018

This study analyzes the economic effect of rehabilitation and upgrading of reservoirs as a prevented method against natural disasters under recent abnormal weather conditions and dam-break. For the analysis, we divide the purpose of rehabilitation and upgrading of reservoirs into the stable supply of rural water under uncertain weather conditions and the prevention of collapse due to the aging of the reservoir. We measure the economic effect of rehabilitation and upgrading of reservoirs by estimating the resident's willingness-to-pay for the project through Contingent Valuation Method(CVM). The result shows that distributions of willingness-to-pay to prevent natural disasters and dam-break are similar to each other. About 66% of the residents in sample regions are willing to pay for the project. The resident's willingness-to-pay to protect natural disasters and dam-break are 32,250 to 46,147 won and 28,427 to 47,308 won respectively on average for all sample regions. The comparison of willingness-to-pay by type of regions shows that paddy field areas are the highest followed by facility cultivation areas and urban areas. In addition, total expected value of the projects calculated based on the resident's willingness-to-pay for paddy field areas and facility cultivation areas are much larger than actual project costs. This implies that rural residents are fully aware of the importance of the project to prevent natural disasters and dam-break and are willing to pay for additional costs if needed.

• Journal of Korean Library and Information Science Society
• /
• v.47 no.2
• /
• pp.305-328
• /
• 2016

This study is intended to check economic value of and factors influencing children's library. To this end, data on a total of 614 questionnaires to which parents among users of 6 children's libraries responded were collected. The results of analysis by contingent valuation method after selecting library fee per person as payment vehicle were as follows. First, willingness to pay was estimated to be a monthly average of KRW 9,243 per person. Second, it was shown that factors influencing willingness to pay included the frequency of utilization, satisfaction, the number of children per family, gender, age, and income and so on. Third, with regard to influence according to each factor, an additional unit in all the rest of factors except gender increased probability of willingness to pay such as the frequency of utilization(1.140), satisfaction(1.335), the number of children per family(1.417), age(1.124), income(2.426). On the other hand, in terms of gender, probability of willingness to pay was lower in female by 0.364 than in male. The implication of this study is that an interview is held with actual user and specific amount of money is presented regarding the economic value of children's library, which has been little known until now.

• 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.

• Journal of Distribution Science
• /
• v.13 no.3
• /
• pp.79-91
• /
• 2015

Purpose - First, the study identifies and analyzes consumer preferences with regard to health foods and supplements. Second, it identifies and analyzes consumer preferences with regard to the properties of Vitamin C supplements. Third, in order to provide a basic data for the development of Vitamin C supplements and to measure how consumers value the properties of different Vitamin C products, a consumer survey was conducted through the choice-based conjoint model. Based on the results, the research estimates consumers' relative product-related priorities as well as price levels and willingness to pay (WTP) for different product types, and makes suggestions regarding consumer-oriented new product development and progressive directions for the successful launch of health foods and supplements. Research design, data, and methodology - This study aims to define the attributes of health foods and supplements based on several characteristics including their natural ingredients, product price, product originality, natural ingredient content, and additional functional ingredients, and makes suggestions regarding strategic market pricing and product development for health foods and supplements according to customer attitudes and characteristics. The research used choice-based conjoint analysis methodology based on the Multinomial Logic Model and collected 94 questionnaires filled out by users of Korean Vitamin C supplements. Results - Product price is the most influential factor among the five analyzed properties. When consumers buy Vitamin C products, the relative significance level of four of the examined properties is as follows: 40.9% for product price, 23.3% for product originality, 21.9% for natural ingredient content, and 13.9% for additional functional ingredients. Vitamin C content is excluded as it is not a statistically significant factor. It is interesting that supplement manufacturers and retailers consider Vitamin C content to be very important whereas consumers do not regard it as an important factor at the time of purchase. The results for the marginal willingness to pay (MWTP) for each property of Vitamin C supplements show that consumers are willing to pay an additional 11,146 Korean won for a 50% increase in the natural ingredient content. With regard to product originality, consumers are willing to pay an additional 11,301 Korean won for products manufactured in Europe than for products manufactured in China. Moreover, consumers show a greater preference for products manufactured in Korea than in Europe. However, consumers are not willing to pay more for additional Vitamin C or additional functional ingredients added to Vitamin C products. Conclusions - According to the results of consumer research on Vitamin C supplements, which represent a popular health food supplement in Korea, most Korean health food and supplement companies are not consumer- or market-oriented when developing new products. Companies gather information from either R&D specialists or sales managers and their opinions are highly reflected in new product development. The study's results will help companies recognize the importance of understanding consumers' unmet needs in advance to develop new products in the future.

• Journal of Korean Society of Rural Planning
• /
• v.15 no.4
• /
• pp.43-50
• /
• 2009

The Ethnic Villages which are designated as a cultural property in Korea are important factors to recognize how the living environment was and to represent uniqueness should be preserved in Korea. For these reasons, this study investigates the Ethnic Villages in Korea and evaluates the economic values of the Ethnic Villages using CVM(contingent valuation method) which has been knows as one of the practical methods in the field of environmental economics. The results of this study indicate that the economic value of the Ethnic Villages for conservation and maintenance is 27,430 won per household/month, and this can be converted into 19,398 hundred million won per one year. This results proves validity of this study compared to the maintenance cost conserving the Ethnic Village of the Cultural Heritage Administration. It can be used as a policy basis to raise finances for conserving the Ethnic Village needed additional support.

• Journal of the Korean Institute of Landscape Architecture
• /
• v.36 no.6
• /
• pp.12-21
• /
• 2009

This study focused on the estimation of econcmic value and the evaluation of attitudes toward plans for the establishment of a walking tour as a public service in the city of Gwacheon. A value analysis based upon 152 questionnaires returned by the residents of Gwacheon and 175 questionnaires from the users of Seoul Race Park in Gwacheon utilized a CVM(Contingent Valuation Method) approach to estimate use value, non-use value, and potential value. The results show that 69.8% of residents and 60.0% of Seoul Race Park users had an interest, 81.6% of residents and 89.7% of Seoul Race Park users agreed to the proposed plan, and 67.8% of residents and 69.7% of Seoul Race Park users expressed a willingness to pay an additional tax or admission fee. The estimated WTP for an additional resident tax per household/year is 11,721 won while it was an additional 750 won per admission for the Seoul Race Park user group. Based on these results, the estimated total economic value of all households/year and the user group over a period of 5 years is 9,997 hundred million won, which was a doubling of the 1.4 in value of total construction costs. The results of this study strongly support the establishment of a walking tour street plan as a public service commodity.

• Journal of the Korean Data and Information Science Society
• /
• v.23 no.5
• /
• pp.913-925
• /
• 2012

This study evaluates the economic benefit of the project constructing the international riding arena having been built at Sangju in Gyeongsangbuk-Do by the willingness to pay (WTP) of residents in the province. As the evaluation method, the dichotomous choice contingent valuation method (CVM) is adopted with the additional questions of whether his/her WTP is zero, to improve the statistical accuracy of evaluation results. Considering the arena's administrative location, the population of the surveys for analysis is confined to residents of Daegu and Gyeongsangbuk-do. The survey is conducted through personal interviews. It turns out that the WTP per household per year is evaluated as 1,847 won and the total yearly benefit of the Sangju international horse riding arena is estimated as 3.56 billion won.

• Journal of Navigation and Port Research
• /
• v.38 no.6
• /
• pp.663-672
• /
• 2014

In Korea and the Philippines, as well as all over the world, with the recognition of the importance of marine ecological resources, the marine protected areas(MPA) have been established and managed to protect and preserve these resources. While the number of marine protected areas for marine ecological resources protection has been increased, there is main problem that the most of MPAs do not achieve their intended management objectives. the effective management. Because of the positive and negative impacts on local communities and fishermen as direct stockholders, there has been ongoing debate on the pros and cons of implementing MPAs. Accordingly, this research conducted a case study of establishing Marine Protected Areas in Guimaras, Philippines because Philippines fisheries code of 1998 (Republic Act 8550), which is enacted to manage, conserve and protect fishery resources, obliged local governments to designate no less than 15% of jurisdictional municipal water as fisheries resource protection areas for a long time. To do this, a dichotomous-choice contingent-valuation survey was conducted in the two municipalities of Guimaras, Philippines to investigate public opinion in debates over MPAs and to estimate willingness to pay (WTP) for MPAs to protect and conserve marine habitats for fishery resources. Because of the expected economic costs by prohibiting fishing activities within the establishing newMPA, 58.7% of respondents thought the costs should be compensated, but 91.4% respondents voted in favor of increasing MPAs for fisheries resources as a protective measure. Finally, with Contingent Valuation Method(CVM), the aggregate mean WTP (375.5ha) of San Lorenzo and Sibunag residents in Guimaras Province, Philippines for establishing the additional MPA in their municipality waters was estimated to $1,046,791. Therefore, these findings could be used as a valuable data for establishing effective management plan of MPAs in Korea.

• International conference on construction engineering and project management
• /
• 2009.05a
• /
• pp.272-275
• /
• 2009

Carbon finance is the investment in Greenhouse Gas (GHG) emission reduction projects in developing countries and countries with economies in transition within the framework of the Kyoto Protocol's Clean Development Mechanism (CDM) or Joint Implementation (JI) and with creation of financial instruments, i.e., carbon credits, which are tradable in carbon market. The additional revenue generated from carbon credits will increase the bankability of projects by reducing the risks of commercial lending or grant finance. Meantime, it has also demonstrated numerous opportunities for collaborating across sectors, and has served as a catalyst in bringing climate issues to bear in projects relating to rural electrification, renewable energy, energy efficiency, urban infrastructure, waste management, pollution abatement, forestry, and water resource management. Establishing additionality is essential for successful CDM project development. One of the key steps is the investment analysis. As guided by UNFCCC, financial indicators such as IRR, NPV, DSCR etc are most commonly used in both Option II & Option III. However, economic indicator such as Economic Internal Rate of Return(EIRR) are often overlooked in Option III even it might be more suitable for the project. This could be due to the difficulties in economic analysis. Although Asian Development Bank(ADB) has given guidelines in evaluating EIRR, there are still large amount of works have to be carried out in estimating the economic, financial, social and environmental benefits in the host country. This paper will present a case study of a CDM development of a 18 MW hydro power plant with carbon finance option in central Vietnam. The estimation of respective factors in EIRR, such as Willingness to Pay(WTP), shadow price etc, will be addressed with the adjustment to Vietnam local provincial factors. The significance of carbon finance to Vietnam renewable energy development will also be addressed.

• Asian Pacific Journal of Cancer Prevention
• /
• v.15 no.20
• /
• pp.8993-9004
• /
• 2014

Background: The incidence rate and the treatment costs of hepatocellular carcinoma (HCC) are high, especially in Thailand. Previous studies indicated that early detection by a surveillance program could help by down-staging. This study aimed to compare the costs and health outcomes associated with the introduction of a HCC surveillance program with no program and to estimate the budget impact if the HCC surveillance program were implemented. Materials and Methods: A cost utility analysis using a decision tree and Markov models was used to compare costs and outcomes during the lifetime period based on a societal perspective between alternative HCC surveillance strategies with no program. Costs included direct medical, direct non-medical, and indirect costs. Health outcomes were measured as life years (LYs), and quality adjusted life years (QALYs). The results were presented in terms of the incremental cost-effectiveness ratio (ICER) in Thai THB per QALY gained. One-way and probabilistic sensitivity analyses were applied to investigate parameter uncertainties. Budget impact analysis (BIA) was performed based on the governmental perspective. Results: Semi-annual ultrasonography (US) and semi-annual ultrasonography plus alpha-fetoprotein (US plus AFP) as the first screening for HCC surveillance would be cost-effective options at the willingness to pay (WTP) threshold of 160,000 THB per QALY gained compared with no surveillance program (ICER=118,796 and ICER=123,451 THB/QALY), respectively. The semi-annual US plus AFP yielded more net monetary benefit, but caused a substantially higher budget (237 to 502 million THB) than semi-annual US (81 to 201 million THB) during the next ten fiscal years. Conclusions: Our results suggested that a semi-annual US program should be used as the first screening for HCC surveillance and included in the benefit package of Thai health insurance schemes for both chronic hepatitis B males and females aged between 40-50 years. In addition, policy makers considered the program could be feasible, but additional evidence is needed to support the whole prevention system before the implementation of a strategic plan.