• Knowledge Management Research
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• v.20 no.1
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• pp.215-230
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• 2019

Numerous city problems have arisen in some tourist cities as tourists enter the city beyond the limits of its capacity. As an alternative to this problem, the discussion of smart tourism cities has led many cities to pursue urban planning with the aim of transforming them into smart tourism cities. Therefore, the present study attempted to discuss the city self-reliance that smart tourism cities need to solve a number of problems and grow as a happy city, both residents and tourists, who are the ultimate goal in the long-term goals. More specifically, this study aims to provide basic data for the economic growth of cities that are most fundamental in city's self-reliance by assessing the economic value of smart tourism. To achieve this research purpose, the economic value of smart tourism was estimated using the Contingent Valuation Method (CVM), and the results showed that each person is willing to pay 220,709 won. This is about 10,000 won higher than the 211,163 won announced by the National Travel Survey in 2017, which is estimated to be of higher economic value when recognized as smart tourism. On the basis of these results, this study provided basic policy data in promoting smart tourism cities as well as expanding understanding of smart tourism.

• Korean Journal of Agricultural Science
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• v.48 no.2
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• pp.219-230
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• 2021

In Korea, the industry and marketing of livestock has grown because of increases in consumers' income and changes in food consumption trends. Livestock production and consumption increased tenfold from 1970 to 2018, and this rise will continue. However, the quality of marketing information for Korean livestock has remained low. The Korea Institute for Animal Products Quality Evaluation (KAPE) operates programs that provide marketing information on livestock, but the social benefits of these programs have not been objectively evaluated. The purpose of this study was to estimate the social benefit of the programs offering marketing information on Korean livestock. Survey and analysis using an economic model (double-bounded dichotomous choice contingent valuation model), revealed a few findings. First, the users of the marketing information programs offered by KAPE recognized the value of these programs and demonstrated their willingness to pay for this marketing information. Second, the social values of the programs offering marketing information on livestock were estimated as 1.1 billion won (marketing information on main livestock) or 5.3 billion won (price information on poultry), and these social values were 2 or 6 times greater than the cost to operate the programs for offering information. Finally, the program that provides marketing information on domestic livestock provides sufficient social benefits, so KAPE should expand these programs.

• Journal of the Korean Society for information Management
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• v.24 no.1 s.63
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• pp.187-208
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• 2007

This study aims to present a new approach to measure the economic value of the public libraries, identifying and suggesting the modified contingent valuation method (CVM) application. The modified CVM, which applied Dissonance Minimizing (DM) format, is presented as a new approach. A cost-benefit analysis is used as a tool to determine if the benefits of public libraries outweigh the cost incurred in providing the services. The benefits of public libraries are based on estimates of how much the user is willing to pay for the library services and costs are based on the prices of providing the services. A comparison between two methods are conducted in a case study in order to measure the economic value of 'J Public Library'. The study also conducts a case study to analyse the WTP value of the 'J Public Library' and demonstrates how public libraries approach the their local studies.

• Journal of Korean Society of Rural Planning
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• v.26 no.1
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• pp.137-147
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• 2020

Rural Development Administration (RDA) has developed a manufacturing technology which can increase the amount of platycodin D in Platycodon grandiflorum. A study is needed to estimate the value of this new technology and predict the market demand for a new product. This study estimates additional amount of willingness to pay (WTP) using contingent valuation method (CVM) for a new product with the technology that RDA has developed. The survey was created under virtual health functional foods market of Platycodon grandiflorums. It was conducted with 1,000 adult males and females aged between 19 and 59 years old in 17 major cities and provinces nationwide from December 4 to December 7, 2018. The amount of WTP for the health functional Platycodon grandiflorum was drawn using maxinum likelihood estimation method. The estimated average and median WTP values are 21,933.85 won per person and 10,000 won per person, respectively. The independent factors, including the ratio of monthly average health function food consumption to income, the average monthly income level of a household, and existence of family members or relatives engaged in food and nutrition-related professions in a household, have been shown to have a statistically significant influence on the WTP. This study presents the potential magnitude of health functional food market and the value of the new technology based on health functional food market.

• Korean Journal of Environment and Ecology
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• v.15 no.1
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• pp.79-91
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• 2001

본 연구의 목적은 대표적인 6개 국립공원에 대하여 자연 및 문화자원의 이용가치와 비이용가치를 이선선택형가상가치평가법을 이용하여 측정하는 것이다. 측정결과 이용가치의 경우높게는 17,208원/1인(설악산국립공원)에서 낮게는 5,758원/1인(태안해안국립공원)의 범주로 나타났다. 또한 비이용가치의 경우 높게는 16,198원/1인(북한산국립공원)에서 낮게는 12,756원/1인(한려해상국립공원)의 범주로 나타났다. 본 연구결과는 국립공원이 현재의 입장료(1,000원/1인)와 국립공원의 유지관리비(3.700원/1인)를 능가하는 상당한 정도의 이용가치와 비이용가치를 창출하고 있다는 사실을 지적해준다. 따라서 국민의 경계적 편익을 유지하기 위해서 정부는 국립공원의 유지. 관리비용을 계속 지원해야만 할 것이다.

• Nuclear Engineering and Technology
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• v.48 no.2
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• pp.559-571
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• 2016

This paper studies the feasibility of renewable energy as a substitute for nuclear and energy by considering Korean customers' willingness to pay (WTP). For this analysis, we use the contingent valuation method to estimate the WTP of renewable energy, and then estimate its value using ordered logistic regression. To replace nuclear power and fossil energy with renewable energy in Korea, an average household is willing to pay an additional 102,388 Korean Won (KRW) per month (approx. US $85). Therefore, the yearly economic value of renewable energy in Korea is about 19.3 trillion KRW (approx. US $16.1 billion). Considering that power generation with only renewable energy would cost an additional 35 trillion KRW per year, it is economically infeasible for renewable energy to be the sole method of low-carbon energy generation in Korea.

• Journal of applied mathematics & informatics
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• v.4 no.2
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• pp.379-386
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• 1997

This paper considers the price at time zero of a contingent claim when the process is a diffusion/point process model . And we apply this price to European option.

• Journal of Animal Science and Technology
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• v.55 no.3
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• pp.179-184
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• 2013

Willingness-to-pay (WTP) for pork produced by quality test was determined using a contingent valuation method. Three model studies including a dichotomous-choice and two double dichotomous-choice types were conducted. The respondents in this study appropriately understood the contingent valuation and the suggested price was significant as a characteristic variable. The results imply that there is lower chance to select pork produced by the quality test, as the price difference is greater between conventional and quality-tested pork. WTPs in double and single contingent valuation models were 735 and 547 won/100 g, respectively. WTP was increased with increasing the educational level of respondents. The average WTPs analyzed by convariate were 1,015 won/100 g for double contingent valuation and 580 won/100 g for single contingent valuation. Considering the minimum price of WTP of pork produced by quality test (547.4 won/100 g), the total economic value was estimated to be 5,173,600 million won and per capita customer value was 106,000 won. Therefore, providing an institutional strategy for pork quality test will be beneficial for the consumers.

• Korea Trade Review
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• v.45 no.4
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• pp.137-152
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• 2020

The increase in national income, the expansion of transportation network, the increase in leisure time, and the influx of foreign tourists in the era of internationalization, the influx of the outside population of Jeju region increased rapidly until 2020. However, the corona 19 (Covid-19) incident that began in January 2020 has hit the entire industry, and the tourism industry in Jeju has also been greatly damaged. However, in the second half of 2020, with some calming of the Corona 19 situation and difficult to leave overseas, the number of visitors to Jeju Island is increasing again as Koreans choose Jeju Island as their domestic tourism. This study analyzed the capacity of Jeju's external population based on the Contingent Valuation Method, and based on this, attempted to suggest policy recommendations for Jeju. The size of accommodations such as the density of visitors, toilets, and rest areas were excluded from consideration, and the level of securing the parking lot already exceeded the capacity, and the rate of securing the parking lot was 93.4%. In the case of accommodation, the total number of available rooms is 88,691, even if one guest per room is assumed, which is 32,372,215 per year, which is sufficient in terms of visitor capacity. To analyze the aspects of psychological capacity, this study analyzed whether the residents are feeling psychological discomfort through three methods of road congestion, garbage disposal, and sewage treatment through Contingent Valuation Method. However, the inconvenience caused by the increase of visitors and the effect of continuous population influx is working in combination, and it has the limitation that the effects of these independent factors cannot be specifically separated. As a result of the study, discomfort has already been recognized in terms of psychological capacity among the factors of capacity, and it was estimated that a cost of about 45 billion won per year was incurred as a result of deriving psychological costs through Contingent Valuation Method. In the future, a policy review is needed to resolve or maintain the perception of this discomfort through continuous management. Accordingly, it is necessary to recognize that the increase of visitors leads to the psychological discomfort of the residents, and to seek a policy alternative that can simultaneously increase the number of visitors and the comfort of the residence.

• KCID journal
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• v.8 no.1
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• pp.133-139
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• 2001