• Ocean and Polar Research
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• v.36 no.3
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• pp.289-302
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• 2014

This paper aims to evaluate the indirect economic damages to anglers of the marine recreational charter caused by marine pollution associated with the Herbei Spirit vessel, which spilled 12,547 kl of crude oil in Taean coastal areas in December 2007. In order to evaluate the indirect cost to anglers of the charter fishing, consumer surplus for charter fishing is estimated using a Poisson model (PM), a negative binomial model (NBM), a truncated Poisson model (TPM), and a truncated negative binomial model (TNBM), which account for the characteristics of count data (non-negative discrete data), for individual travel cost method (ITCM). Because of over-dispersion problem in PM and TPM, NBM and TNBM are considered to be more appropriate statistically. All parameters such as income, fishing careers, travel cost and catch that are estimated are statistically significant and theoretically valid. Based on TNBM results, consumer surplus per trip and per person was estimated to be 277 thousand won, total consumer surplus per person and per year about 2.3 million won, and the marginal effect of consumer surplus on % changes in catch rate is about 33 thousand won. The consumer surplus was converted into total indirect economic damages for aggregation which are evaluated to be 125 billion won, reflecting the number of anglers and damage rate.

• Ocean and Polar Research
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• v.30 no.2
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• pp.141-148
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• 2008

This paper aims at estimating consumer surplus for recreational sea fishing in Tongyeong coastal area using individual travel cost method. A Poisson model (PM), a negative binomial model (NBM), a truncated Poisson model (TPM), and a truncated negative binomial model (TNBM) are applied for individual travel cost method in order to account characteristics of count data (non-negative discrete data.) The survey was conducted for 462 inshore anglers using personal interview method in Tongyeong during July and October 2007. Respondents were asked about how often they do fishing, travel costs, catch, income, and so on. Because of over-dispersion problem in PM and TPM, NBM and TNBM were considered to be more appropriate statistically. All parameters estimated are statistically significant and theoretically valid. As the results based on TNBM, consumer surplus per trip was estimated to be 183,486 won, total consumer surplus per person and per year 3,399,658 won, and the marginal effect of consumer surplus on % changes in catch rate is 185,372 won.

• Journal of Marine Life Science
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• v.1 no.2
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• pp.117-120
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• 2016

The success or failure of aquaculture heavily depends on how effectively to manage aquatic animal diseases. The paper is to estimate the direct effects of economic benefits on aquatic animal disease prevention program using economic surplus analysis. The economic benefits include changes in consumer and producer surplus owing to a reduction effect of aquatic animal mortality and the consumption recovery effect. The annual changes in producer surplus for flounder, rockfish and others cultured is estimated as 2.33 billion won totally (0.87 billion won, 1.01 billion won and 0.45 billion won respectively) and the annual changes in consumer surplus 10.15 billion won totally (6.36 billion won, 1.85 billion won and 1.94 billion won respectively). Therefore, total annual economic benefit is 12.5 billion won.

• Journal of Preventive Medicine and Public Health
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• v.22 no.3 s.27
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• pp.398-405
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• 1989

A change in the consumer's surplus was measured in order to evaluate the social benefit to be derived from expanding health insurance to the entire population. The most refined and correct way to measure a project's net benefit to society is to determine a change in the consumer's surplus. Benefits from introducing the health insurance program to the uninsured people can be classified into two elements. The first is the pricing-down effect(E1) which results from applying the insurance price system, which is lower than the actual price, to the uninsured patients. The second effect(E2) is a decrease in actual payment because an insured patient pays only a portion of the total medical bill(copayment). We collected medical price information from the data banks of 93 hospitals, and obtained information of medical utilization by referring to the results of other research and from data published by the Korean Medical Insurance Societies. The total net benefit was estimated as \214 billion, comprising the first effect(E1) of \57 billion and the second effect(E2) of \157 billion. The price elasticity of physician visits is less than that of hospital admissions: however, benefits from the increase in physician visits are greater than those from hospital admissions because there are considerably more of physician visits than hospital admissions. The sensitivity analysis also shows the conclusion that expansion of the health insurance program to the entire population would result in a positive net benefit. Therfore, we conclude that the National Health Insurance Program is socially desirable.

• KDI Journal of Economic Policy
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• v.38 no.1
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• pp.23-52
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• 2016

This paper examines the impact of introducing high-speed trains on consumer welfare, taking the ensuing changes in train schedules into account. Based on the estimated demand model for travel which incorporates consumer's heterogeneous preferences for travel schedules into the standard discrete-choice model, I separately evaluate the impact from adding high-speed trains and that from changes in train schedules. The results indicate that consumers who travel between two cities connected by high-speed trains benefit from the introduction of high-speed trains, while some travelers whose choice set does not include high-speed trains face a reduced frequency of non-high-speed trains, resulting in significant losses.

• Journal of Family Resource Management and Policy Review
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• v.14 no.1
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• pp.135-159
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• 2010

The purpose of the study was to investigate the characteristics and economic status of deficit households compared to surplus households. Data from The Household Income and Expenditure Survey 2005 by NSO and 50, 207 salary/wage earners' households were used for the analysis. The statistical methods used were GLM, logit, and cluster analyses. The analysis results showed that 25.3 percent of the households were deficit households. Approximately half of the lowest 20% income group were deficit households. Income deficit households earned 1, 273 thousand less than that of surplus households, whereas consumption of deficit households was 1, 006 thousand more than that of surplus households. The average propensity of consumption of deficit households was 142.1. According to the logit analysis, factors contributing to the probability of belonging to a deficit household included income level, household size, age and educational level, occupation, homeownership, car ownership, and wife's employment status. Deficit households were classified into 5 types: 1) health care expenditure-dominated group, 2) housing expenditure-dominated group, 3) education expenditure-dominated group, 4) money transfer-dominated group, and 5) overall-overconsumption group. The overall-overconsumption group was the largest group of all at 58.5%. It was found that for all five groups, the changes in household size, income group, home ownership, and occupation of the individual were variables that influenced the probability of belonging to a certain group.

• Journal of Dairy Science and Biotechnology
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• v.19 no.1
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• pp.30-38
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• 2001

The most important task in Korean dairy industry is to keep the seasonal and annual balance of raw milk supply and demand. Too much surplus milk supply which causes dumping sale of market milk makes dairy industries get in trouble of management, and eventually affects to farmers and consumers economically. As balancing of supply and demand is so important in the fee economic market system, the adaption of the quota system of milk production and seasonal price differentiation has been recommended very often as a method of controlling the milk supply and demand. However, this recommendation did not go through successfully due to the strong objection of dairy farmers. Recently, the voice of consumer's requirement for safer and more hygienic, and high protein, low fat level dairy product is getting stronger. By knowledge of this kind changes, quality improvement in nutrients and hygiene is the most positive way to expand the volume of milk consumption. To meet the consumer's demand, therefore, it is necessary to revise the level of milk fat content and the hygienic grading system for the payment system of raw milk.

• The Journal of Fisheries Business Administration
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• v.36 no.2 s.68
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• pp.121-134
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• 2005

In order to evaluate the effectiveness of management measures and to provide policy suggestions for the allocation of total allowable catch between recreational and commercial sectors, the economic value of red grouper recreational fishery in the United States Gulf of Mexico was estimated using a Travel Cost Method(TCM), Due to the characteristic of count data, a Poisson model(PM) and a Negative binomial model(NBM) were used in the TCM. Results of models showed that the NBM was statistically more suitable than the PM since the overdispersion problem occurred in the PM. Results also indicated all signs of the estimated parameters were as expected and were significant, except for a Boat parameter in both models. Based on the results of NBM, the total economic value of the recreational red grouper fishery was estimated to be $\$698.6$ and the value per trip was $\$179.5$. In addition, the total changes in expected consumer surplus due to changes in catch rates was $ \$42.3$.

• Korean Journal of Agricultural Science
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• v.46 no.2
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• pp.323-333
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• 2019

In Korea, origin labeling is one of the main issues in the food service sector. Many restaurants presented the incorrect or no origin of the food material, and Korean consumers have kept complaining about it. Even though the origin labeling program was welcomed by consumers, the food service sector has claimed that there is an increasing cost due to the origin labeling program. It is an important issue to determine whether the origin labeling program is good for the social welfare; however, the specific effects of the origin labeling program have rarely been measured. The purpose of this study was to measure the effect of origin labeling of beef in the Korean food service sector. Through survey and model analyses, a few findings are presented. First, Korean consumers showed a positive willingness-to-pay for the origin labeling of beef. Especially, consumers without information on the origin of the beef showed a larger willingness-to-pay for the origin labeling. Second, the origin labeling of beef changed the price and quantity of beef, and this change became larger when the consumers had no information on the origin of the beef. The change in the marketing margin due to the origin labeling program also affected the changes in the price and quantity of the beef. Third, the origin labeling of beef increased the social welfare, which is the sum of the consumer surplus and producer surplus. And this increase of the social welfare became larger when the consumers had no information about the origin.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.49
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• pp.111-137
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• 2011

UCP 600 Article 14(b), providing rules for the period of the examination of documents, is a radical reorganization of UCP Article 13(b). The provision changes the period of time to a maximum of five banking days instead of reasonable time. One of the critical problems giving rise to the difficulty in interpretation and application is the question of fact that there may be two possible conflicting options in determining the time of checking documents presented. The one doctrine is fixed time(safe harbor) standard, and the other is hidden reasonableness standard. This study analyzes which option should be adopted for the optimal application standard by welfare effect methodology using consumer surplus approach and suggests that safe harbor standard should be optimal solution to the determination of period of examination of documents presented in letter of credit regime.