• Journal of Korean Society for Quality Management
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• v.44 no.4
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• pp.833-843
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• 2016

Purpose: The purpose of this study is to evaluate the value of smart home service using contingent valuation method that is the method evaluating the value of service which will be provided in the future. Using this method, this study suggests proper price and market value of smart home service through figuring out customer's willingness to pay. Methods: To estimate willingness to pay for smart home service, this study uses double bounded dichotomous choice question. The survey was conducted for 2 months from December in 2015 to February in 2016. A total of 269 copies were used to estimate through R-programming. Results: The results of this study are as follows; Gender(especially woman), income, proposed price are the factors which affecting willingness to pay. As the result of this study, average price of willingness to pay for smart home service estimates as \29,653. Comparing with high-speed internet bundling service fee, this estimated price for smart home service is appropriate level for customers to accept. Conclusion: This study estimates consumer's willingness to pay for smart home service which is in the market entry stage. In corporate side, this study might be meaningful for estimating investment scale and profit. Also it could provide basis for establishing strategic policy to develop smart home service market in government side.

• Health Policy and Management
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• v.16 no.1
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• pp.95-116
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• 2006

According to rapid increase of the population of senior citizens, there has been growing concern of Long-Tenn Care(LTC) services recently. Long-Tenn Care services, however, haven't been established systematically in Korea and the supply of LTC services is not sufficient despite the increase in the current social demand. This study aims to estimate the 'Willingness to Pay(WTP)' for LTC insurance which the government plans to introduce by means of social insurance, using Contingent Valuation Method(CYM). In addition, this study analyzes the factors affecting WTP for LTC insurance. An interview survey was carried out to derive WTP for LTC from 450 people who lived in Seoul aged 20 and above during the period from 16th to 21st of June 2003. Double-Bounded Dichotomous Choice Method was applied among several CVMs available to estimate both use value and no-use value of goods. There was pilot survey carried out prior to the main survey. The results show that the average monthly. WTP for LTC provided in home and residential setting is 18,192Won and 19,293Won, respectively. In the case of home care, WTP goes higher depending on reliability of LTC insurance policy and need for LTC insurance, as well as marital status, education and average monthly income. On the contrary, WTP is conversely affected by higher age and higher bids. In the case of institutional care, the factors affecting WTP are similar to those of home care, except age. This study followed NOAA's suggestions generally and the value derived through survey could be reliable. However, there can be the least bias in the process of survey because the CVM should be used under the supposed circumstances. Despite those limitations, it can be concluded that the amount the citizens are willing to pay for LTC is high enough to meet the costs needed to provide LTC.

• Journal of Environmental Policy
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• v.8 no.3
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• pp.163-180
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• 2009

This study attempts to investigate the preference uncertainty of respondents involved in stating their Willingness to Pay (WTP). For the Contingent Valuation Method (CVM) survey, we employed two approaches using two split samples. The respondents of one sample were given the opportunity to express intensity of preference through Multi-bounded Discrete Choice (MBDC) WTP questions, while those in the other sample were given Dichotomous Choice (DC) WTP questions. By incorporating the two elicited degrees of preference uncertainty into examining the WTP responses, we compared the two approaches. In comparing the DC model with the MBDC model, the mean WTP for the DC model was similar to PRYES in the MBDC Model. We concluded that the MBDC model estimates the various mean WTP while considering the preference uncertainty.

• Journal of Environmental Policy
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• v.13 no.3
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• pp.21-42
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• 2014

Abandoned roads, abandoned expressways included, cause a lot of problems such as contamination and environmental damages to underground water, fragmentation of wildlife habitats yet they are not appropriately maintained or managed because of jurisdictional conflicts and, often more importantly, insufficient budget of governments. The restoration of abandoned roads is known to benefit society and its constituents by providing better environment and higher living standards but the monetary value of the benefit is hard to measure because of non-marketability of the good that the restoration brings about. In this case, the contingent valuation method(CVM) is most powerful in evaluating non-marketable value of goods and hence it is used widely. We also used the CVM to value the benefit of restoration of abandoned expressways to find out: about 40% of total households are willing to contribute positive amount for restoration; better awareness of environmental issues leads to higher willingness-to-pay.

• Proceedings of the Korean Institute of Information and Commucation Sciences Conference
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• 2011.10a
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• pp.575-578
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• 2011

This study attempted to estimate the subscribers' utility for IMT mobile data services by measuring willingness to pay(hereafter WTP). A survey to potential IMT subscribers has been done and contingent valuation method(hereafter CVM) was applied. CVM is generally believed to be one of the most popular methods used for quantifying the value of non-market goods or services particularly by asking respondents of WTP. The result of this study showed that WTP for the IMT mobile data service is 33,283 won per month. Taking into account the current average voice ARPU(Average Revenue Per User), we could estimate the subscribers' utility for 4G mobile voice and data services.

• Environmental and Resource Economics Review
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• v.20 no.4
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• pp.643-662
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• 2011

As the concentration of people in urban area become severe and abnormal meteorological disasters such as regional torrential rains, heavy snows, sweltering heat, and so on have been increasing, the interest on the urban meteorological information service, which considers the specific characteristics of metropolitan areas in weather forecasting, are also increasing. The urban meteorological information service is one of up-to-date technologies which observes urban weather in a more microscale perspective compared to the present weather forecasting system and provides useful meteorological information which is specialized for metropolises in real time. Therefore, urban meteorological information service is expected to contribute to the increase in quality of life for citizens and to the development of industry in urban areas. In this study, we estimate the economic benefit of the urban meteorological information service using contingent valuation method with survey data of the citizens who are expected to be the direct customers of this new information service. As a result, we conclude that the household is willing to pay 5,963 Korean won per year on average, during a period of five years, for receiving this meteorological information service, and this willingness-to-pay is varied by the socio-economic characteristics of head of the household.

• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.14 no.1
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• pp.103-111
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• 2015

The purpose of this study is to estimate the appropriate Demand Responsive Transport (DRT) fare for bus users upon introduction of the system, which is to improve ridership on economically non-profitable routes and to conform to the mobility right of those living in presently non-serviced rural areas. For this, a stated preference (SP) survey was adopted to assess respondents' preferences regarding DRT introduction, while the contingent valuation method (CVM) was used to calculate their willingness to pay (WTP) for DRT services. The analysis results show that, compared to the existing bus services with a 1,000 won bus fare, the value of DRT is considered to be 38.85%, 31.03% and 30.12% higher in terms of overall assessment, usability and convenience, respectively. The results of this study are expected to facilitate the decision making aimed at setting the appropriate DRT fare and implementing a DRT system that meets sustainability requirements.

• Journal of agriculture & life science
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• v.44 no.3
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• pp.89-97
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• 2010

In the contingent valuation method (CVM) survey, we employed double-bounded discrete choice (DBDC) question to investigate the willingness to pay (WTP). The estimation results for the bivariate logit model show that respondents are willing to pay 329,256 won per year. The model with covariate variables suggests that the covariate effects help describe behavioral or preference tendencies. Double-bounded models increase efficiency over single dichotomous choice models, because the answers yes-no or no-yes yield clear bounds on WTP.

• Journal of the Architectural Institute of Korea Planning & Design
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• v.36 no.3
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• pp.13-20
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• 2020

The purpose of this study is to analyze the fuzzy pattern that is reflected on the inside of the value evaluator in measuring the economic value of architectural aesthetic using the fuzzy-contingent valuation method. The main results of analyzing the relationship between architectural aesthetic and fuzzy patterns by typing 307 fuzzy patterns collected from visitors at Dongdaemun Design Plaza are as follows: First, low levels of architectural aesthetic can be a primary cause of extreme refusal of payment. However, it was confirmed that the extreme refusal of payment could partially involve mentality of free-ride on public goods or mentality that would not give value to past events that are not future. Second, if the architectural aesthetic score is 77.5, the most perfect form of fuzzy pattern is formed. It is confirmed that the fuzzy form, which is the standard in the relationship between architectural aesthetic and money value, is made at 77.5 points. This means that it is most efficient to have 77.5 points of architectural aesthetic to secure balanced data by membership in the study of architectural aesthetic value measurement through fuzzy pattern. Third, according to the architectural aesthetic score, respondents can be interpreted as follows: no monetary willingness arises before or after 52.4, starts to respond to the amount before and after 65.6, severe conflict over payments around 70.6~71.7, stronger willingness to pay around 77.6, want to pay for sure around 80.0.

• International Area Studies Review
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• v.14 no.2
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• pp.3-23
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• 2010

The purpose of the study is to estimate value of the Eulsukdo that is attracting lots of birds. Eulsukdo became one of the most famous eco-tourism destinations worldwide and environmental restoration work is progressing with enormous budget. The input of the budget by policy judgement basically can be justified when the benefit excesses the cost in social aspect. Eulsukdo has external effect as cultural tourism resource but it is difficult to estimate the value in market. The study is to estimate the value of Eulsukdo through the single-bounded dichotomous CVM(Contingent Valuation Methods). According to analysis results, the mean WTP(Willingness to Pay) and the truncated mean WTP are estimated at 5,240 and 3,374 won in the log-normal model, and 5,888 and 3,232 won in the log-logistic model respectively. The annual total benefits value based on the truncated mean WTP is estimated at 3,870 million won in the log-normal model and 4,040 million won in log-logistic model. The result of this study will provide useful guide to policy makers and developers who fully realize the value of public goods.