• Journal of Korea Technology Innovation Society
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• v.3 no.1
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• pp.113-126
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• 2000

The purpose of this paper is to introduce and test an extension of dichotomous choice contingent valuation(DC-CV) methods of pre-test-market evaluation using the specific case of a cable telev-ision service. Specifically we used a double-bounded DC-CV approach. On the whole respondents accepted the contingent market and were willing to contribute a significant amount on average. This willingness varies according to individual characteristics and concerns about the service. It is concluded that the methods are potentially a useful tool for decision-makers in measuring the po-tential demand for a new cable television service and considering the provision of the service.

• Journal of the Korean Society for information Management
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• v.29 no.2
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• pp.173-191
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• 2012

CVM (Contingent Valuation Method) has been most widely used for valuation of public libraries. However, there have been a debate on the validity of CVM in that many kind of biases could exist due to its hypothetical nature, the type of questions, payment vehicles and so on. To ensure the validity and reliability of public library valuation, this study analyzed the effects of payment vehicles to valuation using CVM. Three types of payment vehicle, tax, donation, fee were used to pay in hypothetical market. As a result, these payment vehicles estimated the different WTP and donation produced 14,542 won, which is the highest WTP.

• Environmental Engineering Research
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• v.13 no.1
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• pp.41-48
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• 2008

The valuation of biodiversity is a fundamental step in conservation. The useful framework for analysing the economic value of biological resources is that of total economic value (TEV) and TEV comprises both use and non-use values, the former related to an actual use made of the resource, the latter to a willingness to pay for the resource independently of any use made of it. There are several valuation approacher in environmental economics literature. However, stated preference approach should be introduced for valuation of biodiversity because it can estimate non-use value as well as use value. Contingent Valuation and Conjoint Analysis are representative methods in stated preference and Conjoint Analysis can be more useful for valuation of biodiversity. Futhermore, the combination of ecology and economics to assess biodiversity leads to an integrated framework. Thus, interdisciplinary work is required, involving both economists and ecologists transferring elements or even theories and models from one discipline to another and transforming them for their specific, mutually consistent purpose.

• Journal of Korean Society of Coastal and Ocean Engineers
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• v.24 no.6
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• pp.373-380
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• 2012

The sandy beach along the east coast of Korea offers beautiful scenery with high-quality sand for leisure, and is also famous for the white-sand and pine-tree which is an important scenic resource. Furthermore, the sandy beach helps to maintain natural environment of the costal area and functionates as a disaster prevention system against high waves. There are two major value evaluation methods, Travel Cost Method and Contingent Valuation Method, to assess the value of coastal sandy beach. Contingent Valuation Method is considered to be more appropriate for simultaneous evaluation on the usefulness and the uselessness of the beach. But in order to apply Contingent Valuation Method to coastal sandy beach evaluation, close examination and investigation on the potential bias, such as on questionnaires, surveys and replies, are required. In this study, the characteristic of primary amenity of sandy beach users is investigated, in prior to evaluating the usefulness and the uselessness of the beach measured by contingent valuation method. The characteristic of amenity on major sandy beaches on the east coast of Korea is studied and compared by diverse value evaluation methods.

• 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.

• 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.

• 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.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.22 no.2
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• pp.367-377
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• 2012

(Estimating Compensation for Personal Information Infringement) As the value of personal information increases, personal information infringements is more likely to happen. The compensation for personal information infringements needs to be calculated in the process of infringement remedy. However, as personal information is regarded as non-market goods with no exchange price and calculating the remedy for mental sufferings from infringements has no guideline, it is not easy to determine the compensation amount. In this study, we adopt Contingent Valuation Methods (CVM) to analyze Willingness to Accept (WTA) of each type of personal information. Also, this study attempts to examine a standard model for calculating compensation by applying JNSA JO Model of Japan, which is not prepared in Korea. This study does not simply present a plan of estimating compensation. By measuring the value of personal information, it could awaken companies and organizations to the importance of personal information security.

• 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.