• Journal of Korean Society of Transportation
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• v.26 no.6
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• pp.133-142
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• 2008

The term, travel time reliability, refers to variations in journey time that travelers cannot predict. This issue has been one of the main research topics in transport studies. This paper, especially, investigates the value of travel time reliability. The marginal substitution rate method is suggested as the way for the valuation and travelers' stated preference data are collected based on a choice experiment. A mode choice model is estimated using the data surveyed. The parameters of travel costs and travel time reliability from the model are used to calculate the marginal substitution rate that is interpreted as the value of travel time reliability. The value is arranged by travel areas of intercity and urban trips and by journey purposes of working and non-working types. The result of this research is expected to be helpful of conducting more cautious economic feasibility studies of transport schemes.

• Transactions of the Korean Society of Machine Tool Engineers
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• v.18 no.2
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• pp.234-240
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• 2009

In this study, we found that it is important to have a specific management of standards which are the $12{\pm}3{\mu}m$ of plating thickness and $2{\pm}1%$ of tuning. To verify these standards, we checked the plating thickness and density of tuning through marginal valuation of each and checked size of a plating particle, adhesion of solder and condition of reflow after a section chief.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.8
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• pp.465-473
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• 2021

This study is the application of a choice experiment to assess Mekong Delta urban households' preferences and motivations for ecosystem conservation in the U Minh forest. The study applied a choice modeling approach to estimate the economic values of the proposed ecosystem conservation program in the U Minh forest by accessing urban consumer preferences and their willingness to pay for the project. Discrete choice experimental data was collected from 450 residents in the cities of the Vietnamese Mekong Delta. The multinomial logit model was employed to identify consumer's stated preferences for the environmental and sustainability attributes of the conservation project. The results showed that Mekong Delta urban residents paid much attention to the proposed project to protect and develop the U Minh forest. In addition, the results showed that higher education, income, and knowledge of the U Minh forest revealed a higher likelihood of selecting the project, while the older residents would select the status quo more than the younger ones. The study also proved that the effect of participation had a strong impact on the willingness to pay for the project. The findings could be useful for policymakers to take action to raise resident's awareness and willingness to pay for the U Minh forest project.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.3
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• pp.703-710
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• 2017

Third-generation (3G) devicesare next-generation devices that allow the use of intelligent services and applications through the Internet of Things (IoT). As the market forexisting smart devices like smartphones and tablet PCs enters the stage of stagnation, the world is now focusing on 3G devices, parts, and services. This study is intended to measure the user's benefits from the various attributes of 3G devices by applying an economic valuation method. For this purpose, the conjoint analysis method was applied, which is one of the representative valuation methods. To apply conjoint analysis, the following attributes of 3G devicesare considered: mode of use, power efficiency, life care, and price. By applying the mixed logit model, the marginal willingness-to-pay(WTP) for each attribute was derived. The results are statistically significant. Respondents showed a high preference or complete flexibility in the mode of use attribute. And they were also found to have WTP for improvements in the life care attribute. The implications and quantitative results of this study are expected to be useful for policies and strategies in the 3G device market.

• Environmental and Resource Economics Review
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• v.30 no.3
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• pp.395-433
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• 2021

This paper aims to examine the effects of homeownership and residential types on the economic values of urban green spaces. Green open spaces as public goods provide positive externalities that are comprised of pecuniary and technological externalities. Seoul, South Korea, is used as a case study using choice experiments, with split-sample online respondents of 1,000. The study results evidenced that the differentiation between the two types of externalities is imperative for equitable provisions and efficient management of various urban open spaces. There is a positively significant and substantial impact of homeownership for apartment dwellers, ceteris paribus, but not for house dwellers. For apartments, the efficiency loss can be reduced by increasing green spaces up to the critical point where the marginal cost is at equilibrium with tenants' marginal values. For non-apartment houses, it is not homeownership but the monthly household income that has a significant impact on the amenity value. In general, public benefits from green spaces are equivalent to 16% to 33% of the current residential prices on average for a view or access. Different residential types do not cause a significant impact on the access values. Residential profiles for green spaces were developed, together with tailor-made policy suggestions.

• Journal of Korea Water Resources Association
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• v.42 no.4
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• pp.281-295
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• 2009

This study estimates the value of irrigation water in Korea using an economic programming model that is constructed with all the resource endowment constraints, technology restrictions and policy variables. The variability and uncertainty of water resource endowment are incorporated into the model through the chance-constrained technique. Solving the profit maximization problems with gradually reduced water endowments, we derive a series of shadow values of irrigation water. It has been found that uncertainty in water supply raises the damage from water loss, and the marginal damage increases in water loss.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.14 no.10
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• pp.4830-4836
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• 2013

This research was launched as an attempt to help create a new value-added product called "Green Jujube Chip." To accomplish the objectives, consumers value by attributes of Green Jujube Chip should be estimated. We used Choice Experiment for analysis, which we used to arrive at pricing of specialty jujube chips based on the conditional logit model. As a result, MWTP were estimated at 1333 Won/unit for Mid-size Company Product, 1752 Won/unit for Large Company Product, 1703 Won/unit for University Affiliation, 350 Won/unit for packing unit, 548 Won/unit for rating the raw fruit, 1,322 Won/unit for HACCP, and 1,166 Won/unit for ISO22000. The consumer's WTP for Green Juju Chip, associated with the university-brand recognition, was higher than a product produced by a mid-sized company but lower than a product by a large company. Given how the consumers regard the university-brand product as a specialty item, it is necessary to create value-added products that meet such high expectation. Therefore, we recommend the producers to acquire HACCP Food Safety Certification and the value-added product has used the highest quality raw fruit.

• Journal of Korean Society of Transportation
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• v.28 no.5
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• pp.65-75
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• 2010

The objective of this paper is to quantify economic values of parcel service attributes (safety, reliability, quickness, and kindness and customer service) using the contingent choice method and to investigate impact factors (such as sex, age, and education), which influence choice of desirable parcel services. As empirical results, the marginal willingness-to-pay for multiple attributes of parcel service is calculated as about 2,349.6 KRW for the safety attribute, about 829.3 KRW for the reliability attribute, about 588.5 KRW for the quickness attribute, and about 358.8 KRW for the kindness and customer service attribute, according to the estimation model without covariates. The overall results indicate that the safety attribute ranks highest among parcel service attributes, followed by the reliability attribute, quickness attribute, and kindness and customer service attribute. These results can be useful in the decision-making process for establishing desirable pricing policies for parcel service.

• Ocean and Polar Research
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• v.44 no.3
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• pp.235-247
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• 2022

A marine protected area (MPA) is a spatially designated section of the ocean where the biodiversity is high. Munseom MPA has a unique underwater landscape including soft coral, subtropical fish, and benthos, attracting many scuba divers. This paper intends to evaluate the willingness-to-pay (WTP) for the scuba diving management policy in the Munseom MPA. As a stated preference valuation method, a choice experiment was applied to assess divers' preferences with economic values for the policy. The attributes used in the study included zoning (temporal closure), conservation education, daily permit, soft coral area, and diving fee. We collected 333 questionnaires through online and field surveys and used 296 after excluding incomplete responses for the final data analysis. Study results show that a six-month closure, a decrease in soft coral habitat, and the diving fee were statistically significant. A positive coefficient with regard to the six-month closure variable indicates that divers preferred the policy, and the marginal willingness to pay (MWTP) was estimated to be KRW 8,637 per person per dive. The aggregate WTP of KRW 233 million was obtained by multiplying the MWTP by the number of visiting divers per year. When comparing the levels of recreation specialization, more skilled divers preferred the management option. The results of this study will help predict the priority of management measures and the levels of acceptability among divers when diving management is implemented in Korea in the future. This study suggests that marine environmental policies need to consider divers as one of the important stakeholders for marine conservation.

• Proceedings of the Korea Water Resources Association Conference
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• 2006.05a
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• pp.254-258
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• 2006

경제발전 과정에서 급격한 도시화로 인해 건기의 하천 수량은 줄어들고, 비점오염 발생량은 증가하였으며 심지어 하천이 복개되고 직강화되어 홍수 피해 및 수질오염은 더욱 증가하고 있다. 다행히 최근 소득수준의 증가와 여가시간이 확대됨에 따라, 그 동안의 도시화와 산업화로 인한 오염된 하천을 다시 복원하려는 운동이 활발하게 진행되고 있다. 안양천은 이 같은 하천 중 가장 대표적인 하천 중 하나이다. 본 연구에서는 다속성선택법(CE: choice experiments)을 적용하여 안양천이 어떠한 속성을 갖고 있으며 각각의 속성에 대해 안양천 유역주민들의 사회적인 경험과 인식, 그리고 각 속성의 수준간의 상쇄관계(trade-off)를 고려함으로써 소비자선호에 근거한 한계가치(marginal value)를 추정하였다. 2차례에 걸친 예비조사를 통해 안양천이 가진속성을 홍수피해위험, 가뭄시 하천유량, 수질등급, 하천형태로 설정하였고 설문지 작성을 위해 개별 속성들간의 직교성(orthogonality)을 보장해 주는 주효과 직교설계(orthogonal main effects design) 방법을 이용하였다. 작성된 설문지를 이용해 안양천 유역 10개 지자체 거주민을 대상으로 설문조사를 실시하였고 설문조사 결과를 통해 추정된 각 속성에 대한 가구당 매월 한계지불의사액은 하류구간의 잠재적 홍수피해(PFD가 0.5)가 보통일 경우는 1,764.8원/월, 낮을(PFD가 0.5이하) 경우는 1,783.8원/월, 가뭄시 하천수가 목표유지유량보다 는 작지만 매말라 있지 않은 경우에는 1,496.8원/월, 가뭄시 하천수가 목표유지유량 이상 유지될 경우에는 2,274.9원/월, 수질 등급 3등급일 경우 1,721.5원/월, 수질 등급 2등급일 경우 1,764.4원/월, 하천둔치를 체육공원과 산책로를 조성할 경우 2,078.1원/월, 하천둔치를 자연친화형 하천으로 보존할 경우 2,441.7원/월으로 분석되었다. 또한 추정된 가구당 매월 한계지불의사액을 통해 각 지자체별 정책대안의 기대효과에 대한 편익을 추정하였다. 각 기대효과는 치수, 수량확보, 수질, 생태로서 각각의 기대효과에 대해 가장 높은 편익을 나타내는 것은 부천시의 하수처리장 건설로서 이는 매년 926.8억원의 편익이 발생되며 그 다음으로는 부천의 하수관거정비(역곡)로서 이는 매년 601.5억원의 편익이 발생하는 것으로 추정되었다.