• Ocean and Polar Research
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• v.29 no.1
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• pp.69-80
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• 2007

This paper attempts to measure the environmental value of the Nakdong-river estuary, which is ecologically important but confronted with the threat of development. Especially, in order to elicit the environmental values of its four attributes, contingent valuation method(CVM) based on multi-attribute utility theory is applied and the CVM survey was rigorously designed to comply with the guidelines for best-practiced CVM studies. We surveyed a randomly selected sample of 400 and 350 households in Busan and six large cities(Seoul, Incheon, Daegu, Daejeon, Gwangju, and Ulsan), respectively and asked respondents questions in person-to-person interviews about how they would willing to pay for the estuary conservation and management program. Respondents overall accepted the contingent market and were willing to contribute a significant amount(2,457 won in Busan and 3,560 won in six large cities), on average, per household per year, which implies that there exists a large difference between the two. The aggregate values of the Nakdong-river estuary in Busan and six large cities amount to 2.92 and 22.32 billion won, respectively, per year. In addition, expanding the values to Korea produces 51.34 billion won per year. The quantitative values can be utilized in planning and decision-making about development versus conservation of the estuary.

• Journal of the Korean Society of Hazard Mitigation
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• v.10 no.3
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• pp.101-107
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• 2010

The purpose of this study is to evaluate the benefits of flood control reservoir and to derive the policy implication by significant variables of willingness to pay. As a result of analyzed using contingent valuation method, variables that affect the amount of willingness to pay are housing area, frequency of disasters, educational background, and family income. All variables are analyzed as the plus effect for the willingness to pay, and the annual benefits of flood control reservoir per family are estimated as approximately 32,000 won. The implication of this study is as followed. First, the value of the respondents about public goods is not small. Second, the contingent valuation method can be useful plan to estimate the value of public goods. Finally, the benefits should be compared with various aspects because of the wide deviation of the demand population.

• The Journal of Fisheries Business Administration
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• v.53 no.2
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• pp.42-57
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• 2022

The purpose of this study was to estimate the economic values of whale watching. The data used in this study were collected with 1,599 coastal tourists and the questionnaire included contingent valuation method questions. The results show that coastal tourists obtained the benefits of about KRW 15,970 from whale watching. Further analyses were conducted to check the differences of willingness to pay for whale watching based on the three variables as follows: previous experience of whale watching and participation intention in whale watching tourism, and previous experience of cruise trips. The results indicate that the respondents, who already participated or intended to participate in this type of tourism activity, were willing to pay higher than those, who did not participated or had no intention of participation, respectively. These results imply that whale watching could be a feasible alternative to the direct consumption of whale meat. Based on the study results, we provide policy and management-related implications for whale watching programs.

• Journal of the Korean Data and Information Science Society
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• v.17 no.2
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• pp.387-394
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• 2006

In Korea, a proton linear accelerator complex is being built as a part of the 21st Century Frontier Projects. Contingent valuation method (CVM) is a main evaluation method of nonmarket goods for which markets either do not exist at all or do exist only incompletely. This study shows the method can be applied to the benefit assessment of the proton accelerator complex. Using the discrete choice CVM method, this study estimates the willingness-to-pay (WTP) of a would-be user for the proton accelerator complex as 20,133 won per month.

• Journal of Korean Society of Forest Science
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• v.86 no.1
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• pp.9-16
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• 1997

The contingent valuation method(CVM) has been used to evaluate the economic value of nonmarket goods such as forest recreation. There are two commonly used CVM questionnaire formats: open-ended and closed-ended. This study evaluates the net economic value associated with day use downhill skiing, using CVM. A random, on-site survey of skiers in Muju, Korea generated the value estimates. In this paper a nonparametric test is introduced to find whether the difference between value estimates from open-ended and closed-ended formats are significantly different because the distributions of WTPs are non-normally distributed. The results show that the net economic benefits of a skier in Muju varies from \15,131 to \25,332. The closed-ended values were 1.15 to 1.67 times as large as the open-ended values, depending on the model specifications. In nonparametric test the mean WTPs of the open-ended and close-ended applications are significantly different. Its reason may be that closed-ended can be more reducing the incentive for strategic behavior than open-ended question. However, we cannot conclude that the closed-ended method is superior to the open-ended method.

• 도로교통
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• s.88
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• pp.25-31
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• 2002

• KSCE Journal of Civil and Environmental Engineering Research
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• v.32 no.4D
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• pp.323-333
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• 2012

This paper is aimed to recognize trends of various social groups about multiple transportation policies such as the crosswalk restoration by eliminating the pedestrian overpasses and the improvement or continuous extension of existing pedestrian overpasses, currently implemented in Busan, following the globally prevailing pedestrian-oriented transportation environment. Also, this paper utilizes Contingent Valuation Method (CVM) to evaluate the efficiency of individual alternatives in terms of respondent's willingness-to-pay (WTP). Consequently, survey participants preferred the crosswalk or improvement of the pedestrian overpasses rather than depending on the existing pedestrian overpasses. In addition, the WTP value for the crosswalk restoration is approximately 42,452 won per household per year, and, on the other hand, the WTP value for the improvement of existing pedestrian overpasses is approximately 36,793 won per household per year, implicating that the transportation policy makers are suggested to place more priorities on crosswalk restoration than the improvement of the existing pedestrian overpasses.

• International Journal of Highway Engineering
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• v.18 no.5
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• pp.75-82
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• 2016

PURPOSES : This study was initiated to estimate the benefits from the campaign to prevent drowsy driving crashes on expressways. The study was conducted by the Korea Expressway Corporation using a contingent valuation method. METHODS : First, a questionnaire was designed for a preliminary survey. From the survey's results, the initial willingness to pay for the campaign was determined by averaging different amounts of payments chosen under virtual scenarios in the survey. The willingness to pay data was used to find a first bid price for the open-ended method used for the second survey. After that, a primary questionnaire was designed and conducted using a single dichotomous choice question (SDBCQ). Drivers at expressway resting areas were asked their willingness to pay for the campaign. Based on statistical analysis using data collected from the second survey, the mean willingness to pay was estimated using a probability utility function. Finally, the benefit from the campaign was calculated using the estimated willingness to pay and accident data on expressways. CONCLUSIONS : Based on the result from the contingent valuation method, the benefit from the campaign to prevent drowsy driving crashes was estimated to be 170.6 won per expressway trip. The benefit is to be paid as an additional toll. In addition, the traffic crash cost estimate is about 2,209,680,000 won less than the cost during the same period in 2014.

• Environmental and Resource Economics Review
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• v.17 no.2
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• pp.327-347
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• 2008

This study proposes a new answering mechanism of deciding whether to purchase or not under uncertainty-real risk answering mechanism (R-RAM) for real transaction and hypothetical risk answering mechanism (H-RAM). It IS also. shown that the traditional answering mechanism (TAM) assumed in most of existing contingent valuation methods should be applied in a real transaction without uncertainty. While the willingness to pay (WTP) being simply compared with the bidding price m TAM, the mean of WTP should be greater than the bidding pnce at least by the risk premium for a purchase decision m R-RAM and H-RAM. Only difference between R-RAM and H-RAM is risk premium. The H-RAM takes a smaller risk premium than the R-RAM. This study proposes the contingent valuation method (CVM) with H-RAM could be an alternative to reducing the under-or over-estimation of WTP by comparing the WTP estimates obtained from three different CVMs with TAM, R-RAM and H-RAM.

• Knowledge Management Research
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• v.23 no.1
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• pp.133-148
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• 2022

In an ever-changing tourism environment, we need to think about how to successfully attract tourists and provide them with memorable experiences. Smart tourism content is considered as a useful tourism resource for converting into an attractive tourist destination by providing new values in various tourist destinations as well as the changed tourism patterns due to COVID-19. However, there are still few successful cases of smart tourism contents that have secured economic sustainability. Accordingly, this study applied the Contingent Valuation Method (CVM) to estimate the economic value perceived by tourists for smart tourism contents based on augmented reality to develop a smart tourism content development plan that can secure economic sustainability. As a results, it was confirmed that the lower the offered amount, the higher the awareness of the new value, the higher the likelihood of willingness to pay. Based on these research results, this study presented academic and practical implications for the development of smart tourism content that secured economic sustainability.