• Information Systems Review
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• v.6 no.1
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• pp.123-139
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• 2004

It is needed to transfer the technology actively which has already developed to improve a up-to-date technology and foster the technological innovation. The technology transfer also can bring about a commercial success. To promote the technology transfer, it is needed to develop a new technology valuation model for a specific technology from a objective point of view, as well as to equip an institution such as the technology transfer center. The technology valuation from a objective point of view is of importance as the basic information for the price negotiation between a technology-buyer and a technology-seller. This paper takes aim at investigating a new technology valuation model and developing a technology valuation system for promoting the technology transfer. A new technology valuation system is developed as a Web-enabling base. Using this users are able to estimate the value of a specific technology on a real time efficiently.

• Ocean and Polar Research
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• v.38 no.3
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• pp.235-245
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• 2016

The purpose of this study is to estimate the Willingness To Payment (WTP) of sea-anglers regarding the increase in the abundance of fish resources resulting from the Korean vessel buy-back program using the contingent valuation method. Data was collected through sample surveys of 352 sea-anglers across the nation in 2015. If a 20% increase in the abundance of fish resources resulted from the vessel buy-back program, WTP estimates of sea-anglers per recreational fishing trip were 9,570 won on truncated mean, 16,528 won on mean, and 35,830 won on median, respectively. Additionally, when the number of annual total recreational fishing trips in Korea were estimated as 22,700 thousand trips, the annual increase in national welfare through recreational fishing was estimated to be 217.2 billion won on the truncated mean, 375.2 billion won on the mean, and 813.3 billion won on the median, respectively.

• Environmental and Resource Economics Review
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• v.12 no.1
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• pp.1-27
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• 2003

Urban forests have various environmental benefits, contributing to the quality of urban life. However, these values have been underestimated or never been reflected in the urban development planning in Korea. As a result, a number of forests in urban areas were either partly or wholly destroyed without their public's values being assessed explicitly. The objective of this paper is to estimate the economic benefits attached to Mt. Kwanggyo in the Capital Region using contingent valuation method, aiming to provide policy-makers with useful information to make an informed public decision in urban development planning. The survey was carefully designed and implemented to meet a number of recommendation rules suggested in the literature. The overall results show that the respondents well accepted the contingent market and would be willing to pay a significant amount for the proposed program of conserving the mountain. Total economic benefits for the population amounted to approximately 3.8 billion Korean won per year. This quantitative information can be used in cost-benefit analysis of urban development plans.

• Environmental and Resource Economics Review
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• v.14 no.4
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• pp.943-964
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• 2005

This study estimated a wide range of stochastic process models using the frameworks of CKLS (1992) and Nowman and Wang (2001). For empirical analysis, the GMM estimation procedure is adopted for the monthly Brent crude oil prices from January 1996 to January 2005. Using the simulated price series, European call option premiums were calculated and compared each other. The empirical results suggest that the crude oil price has a strong dependency of volatility on the price level. Contrary to the results of previous related studies, it shows a weak tendency of mean reversion. In addition, the models provide different implications for pricing derivatives on crude oil.

• Ocean and Polar Research
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• v.26 no.1
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• pp.77-86
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• 2004

The paper is to estimate the economic value of ecotourism in Anmyeondo tidal wetlands using a double-bounded dichotomous choice (DBDC) model of the Contingent Valuation Method (CVM). For the reliability and the validity of CVM a survey was conducted for 511 visitors by personal interview method in Anmyeondo during August 2000, and respondents were asked for maximum Willingness-To-Pay (WTP) to buy a ticket fer the tidal flat's ecotourism. Overall, respondents answered that they would be willing to pay 55,879 won for a ticket under the study. All equations and results estimated are statistically significant at the 1% or 5% level. For the aggregation of WTP estimates, the sample values are extended to the total annual number of visitors in Anmyeondo area during 1998. A conservative estimate, which considers the calibration factor (0.5) recommended by NOAA (1994) and a positive response rate (83.17%), is 73 billion won.

• Journal of Environmental Impact Assessment
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• v.20 no.5
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• pp.615-625
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• 2011

As United Nation (UN) declared 2010 to be the International Year of Biodiversity, the biodiversity issue has gained much attention since the issue of climate changes. Also, related researches for protecting and conserving the biodiversity are accompanied in the world. In this study, National Ecology Information is obtained from Ministry of Environment and Korea Forest Service and is utilized to valuate biodiversity and ecosystem services in Pyeongchang, Kangwon-do in Korea. For this, they are categorized into direct- or indirect-use value and nonuse value. Research results show that the biodiversity and ecosystem services in Pyeongchang are assessed as 2 trillion and 460 billion won. From this research, we evaluate the economic value of biodiversity and ecosystem services, and also suggest the possibility to utilize them as basic information for a decision making to establish the biodiversity protection plan.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.61-69
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• 2021

The aim of this paper is to empirically investigate whether and how domestic currency valuation is related to firm-level export competitiveness and profitability by using the unique firm-specific dataset on Bangladeshi nonfinancial firms which have been listed continuously from 2010 to 2018. To achieve the aim of this paper, 63 exporting firms are extracted from a total of 125 firms which have been continuously listed during 2010-2018 and used as the final sample firms. The Pedroni cointegration test reveals that export and import prices of the exporting firms are cointegrated in the short-run as well as long-run. The panel dynamic ordinary least square (DOLS) analysis finds that a firm's export competitiveness is maintained by high import inputs even in the presence of depreciation of Bangladeshi currency against the US dollar. Finally, the DuPont analysis finds that the depreciated Bangladeshi currency enhances an exporter's profitability. Conclusions based on the findings are consistent regardless of exchange rate types, such as, real bilateral exchange rate and nominal or real effective exchange rate indexes. Consequently, the firm-level findings of this investigation suggest that undervalution of home currency is essential for Bangaldesh which is one of the frontier markets in South Asia whose exporting firms are mostly price followers in global markets.

• Environmental and Resource Economics Review
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• v.14 no.4
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• pp.793-816
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• 2005

This paper proposes a new answering mechanism called RAM (Risk Answering Mechanism) which can be applied to a contingent valuation method. The RAM is derived from the theory of expected utility maximization under the assumption that there exists an uncertainty in a nonmarket good of interest. In RAM, a respondent would accept an uncertain offer only if his or her WTP for the mean of the offer is large enough to exceed the bidding price by more than a risk premium. This is in a striking contrast with a traditional answering mechanism (TAM) in which the WTP is simply compared with the bidding price. Therefore, the TAM would underestimate the WTP by a risk premium without considering the uncertainty a respondent may face. An empirical comparison is made between RAM and TAM using a survey data on the Tong river. It is found that underestimation problem is very serious in the TAM.

• Environmental and Resource Economics Review
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• v.16 no.4
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• pp.873-900
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• 2007

Non-market valuation studies tend to assume that individual households have homogeneous preferences for a non-market good to value. However, since the preferences for non-market goods, especially environmental goods are more likely to be heterogeneous by nature, it may be more appropriate to assume heterogeneous preferences for non-market goods, which may in turn may lead to reduced biases in the WTP estimation. This study investigate the extent to which individual households have heterogeneous preferences for reduced concentrations of radon, a radioactive indoor air pollutant, for road safety, and for nuclear power safety. We also analyze the effect of heterogeneity assumption on the results of model and WTP estimation. Using the choice experiments and mixed logit models, we found that allowing for heterogeneous preferences improved model fitness and that there existed heterogeneous preferences for both reduced radon concentration and road safety, albeit not for nuclear power safety. The mean WTP for reduced radon concentrations and road safety increased by factors of 2.44 and l.74 respectively with the models allowing for heterogeneous preferences.

• Environmental and Resource Economics Review
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• v.13 no.3
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• pp.387-415
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• 2004

This paper is intended to valuate air quality of the Seoul Metropolitan Area using triple-bound dichotomous choice (TBDC) contingent valuation method (CVM), supplemented by open-ended (OE) questionnaires. In the OE questionnaires, some respondents would state their willingness to pay (WTP) outside the limits of the WTP interval. It implies that WTP estimates based on the customary dichotomous choice (DC) questionnaires can be biased. We argue that the TBDC-CVM refined with OE questions is more efficient, because the latter helps purge the former of corrupted data that may have been collected by the TBDC interview process.