• Journal of Korean Society of Forest Science
• /
• v.98 no.2
• /
• pp.203-211
• /
• 2009

The study was conducted to examine consumers' awareness and perceptions on forest certification and their willingness to buy and pay price premium for certified wood products especially for selected four wood products. A total of 136 residents in Seoul and Gyeonggi Province were interviewed in the autumn of 2008. Although only 24.3 percent of the consumers are aware of forest certification, 82.4 percent of the respondents recognized the need and significance of forest certification. In general, 77.2 percent of the respondents were willing to buy certified wood products. Majority of the respondents, 84 out of 136 respondents (61.8%) expressed their willingness to pay (WTP) from more than 0 percent to less than 10 percent. Consumers' average WTP for certified wood products was estimated to be 5.6 percent. From the results of the study, lower priced wood products, such as copier paper (WTP=9.8%) and wood frame (WTP=11.6%), have higher price premiums than high priced products, such as wood table (WTP=6.8%) and wood flooring (WTP=7.6%). In conclusion, there could be feasible markets for certified wood products in South Korea as four out of five consumer are willing to pay more for such products. For the forest certification system to be adopted and widely accepted, the perceptions of forest stakeholders including consumers should be further increased.

• The Journal of The Korea Institute of Intelligent Transport Systems
• /
• v.22 no.6
• /
• pp.66-76
• /
• 2023

The government recently implemented policies to improve transportation for the disabled passengers. On the other hand, metropolitan public transport still lacks adequate services for these individuals. Many new cities lack urban rail lines and focus on high-floor buses for expansion. Wheelchair users can only access to double-decker low-floor seat express buses for intercity travel. This study examined the necessity and rationale for introducing low-floor seat buses by estimating the user's willingness to pay through a contingent valuation method. Two methods for eliciting the willingness to pay were adopted: open-ended and dichotomous choice questions. The binomial logit model was used to estimate the willingness to pay. The results indicated that the general public is willing to pay an additional 126.7 Korean won, while the disabled passengers are willing to pay an additional 117.5 Korean won. When translated into annual economic benefits, this amounts to approximately 35 billion Korean won.

• New & Renewable Energy
• /
• v.4 no.4
• /
• pp.44-49
• /
• 2008

This study uses contingent valuation method (CVM) to elicit willingness to pay monthly for electricity or heating produced by renewable energy (RE). The experts who participated in the conference of the Korean Society for New and Renewable Energy in May of 2008 were asked to answer the questionnaires: how much would you be willing to pay monthly to receive electricity (or heating) generated by RE? We find some evidence that the respondents have higher willingness to pay for RE electricity than RE heating even if the average electric bills were lower than the heating bills. The respondent who belongs to a large family and has a good opinion of RE tends to show high willingness to pay for both RE electricity and RE heating.

• Proceedings of the Korea Committee for Ocean Resources and Engineering Conference
• /
• 2003.10a
• /
• pp.284-289
• /
• 2003

As growing importance and concern of waterfront, we have tried to study its landscape, accessibility, landuse and so on as well as its environmentally sound and sustainable development. In fact we had been under the false thought that it always what we wanted, and it was neglected in its economic value. This paper/ looks at on alternative, the non-market value generated by management of waterfront as public resource. We consider the question : how much are people willing to pay to improve, how much are people want to improve? The contigent valuation method was implemented during Sep. 9 to 14 in 3 beaches ; haeundae, Gwanganri, Songjeong. They are representative waterfronts which have been widely known and visited. We find out that households are willing to pay about $12,000{\sim}16,000$ won per year for improving nature elements and inviting more valuable functions about 3 beaches. Especially we pay attention to defference between cognitive and comprehensive satisfaction 3 beaches and their substructural factors satisfaction such as natural environment, public facilities, recreational facilities and etc.

• Journal of Korean Society of Rural Planning
• /
• v.20 no.4
• /
• pp.101-112
• /
• 2014

The public value of agriculture and rural areas is closely associated with the concept of multifunctionality of agriculture and rural areas, which in turn signifies economic values other than the production function of agriculture and rural areas. Based on the survey results, virtual scenarios were set up and the contingent valuation method (CVM) was used to estimate the amount consumers are willing to pay (WTP) for the public functions of agriculture and rural areas. This study selected five domains of the public value (environment conservation, maintenance of landscape and cultural tradition, enhancement of national prestige, local community maintenance and socio-economic functions, and food security) and 21 value items as components of the public value. An economic assessment of the public value of agriculture and rural areas was conducted using a binomial logistic regression model. The estimation results showed that the public value consumers are willing to pay ranges from a minimum of 6,346.8 billion won to a maximum of 9,327.2 billion won.

• Journal of Distribution Science
• /
• v.19 no.10
• /
• pp.23-33
• /
• 2021

Purpose: This study explored factors affecting the purchase of fair trade hand-made products. We focused on the difference between the mediating effect of purchase intention and purchase purpose, and verified the additional effectiveness of premium prices. Research design, data and methodology: The data was collected through an online survey. The reliability and validity of each variable used in the questionnaire were verified. Then, each hypothesis was analyzed through multiple regression analysis. Results: First, individual social responsibility and purchasing experience of general fair trade products have a definitive effect on the intention of purchasing fair trade hand-made products. Second, the willingness to pay premium prices varies depending on whether it is an individual's consumption or consumption for others. Third, the higher the individual's social responsibility and experience in purchasing fair trade products, the more willing he is to pay premium prices. Fourth, the purchase intention of fair trade hand-made products is to have the effect of partial mediation. Fifth, when choosing a gift for an adult, it was determined that the consumer was willing to pay premium prices the highest amount. Conclusions: In terms of factors affecting the purchase of fair trade hand-made products at premium prices, it was confirmed that individuals' social responsibilities and purchases of fair trade general products had an impact.

• Journal of dental hygiene science
• /
• v.14 no.2
• /
• pp.176-182
• /
• 2014

This study aimed to arrive at reasonable and realistic prices for professional tooth cleaning (PTC) in order to expand its clinical utilization. The study involved 214 dental implant patients who received PTC. Cross-tabulation, one-way ANOVA, t-test, and stepwise multiple regression were performed for analysis. The mean satisfaction score was 4.60 points, and 92.5% of all subjects were willing to receive PTC consistently. The most common reason to receive PTC was a feeling of refreshment in 84.7%, and 84.1% were willing to pay for PTC. The mean willingness-to-pay price was 28,100 won, and the mode was 10,000 won. Willingness-to-pay price increased as average monthly income and satisfaction level for PTC were higher. The price also increased with age and was higher in women than men. Suggesting and settling reasonable and realistic prices for PTC are expected to be useful in maintaining the long-term health of the dental implant and reducing socio-economic costs.

• Land and Housing Review
• /
• v.10 no.3
• /
• pp.57-66
• /
• 2019

In this study, the author suggests utilizing unsold and unused land as temporary commercial parking lots as a way to raise funds for active public transport use. In addition, reasonable parking fee scheme is suggested by estimating marginal parking fee and marginal parking distance for the commercial parking lots based on the CVM. The author conducts a survey to investigate citizens' opinion on utilizing unsold and unused land in the urban development project area as temporary commercial transport facilities such as parking lots. Based on survey outcome, travel behavior and requirements are analyzed and marginal parking fee and marginal parking distance are estimated through the Contingent Valuation Method (CVM). The results are as follows: in the single-bounded dichotomous choice model, people are willing to pay 216 KRW for 165m in average for 10 minutes and their willingness to pay goes down against reaching distance to the parking lots from 365 KRW for 50m, 295 KRW for 100m, 173 KRW for 200m, and 51 KRW for 300m; in the double-bounded dichotomous choice model, people are willing to pay 285 KRW for 165m in average for 10 minutes and their willingness to pay goes down as well against reaching distance to the parking lots from 310 KRW for 50m, 297 KRW for 100m, 272 KRW for 200m and 248 KRW for 300m. It is clearly appeared that people's willingness to pay goes higher as distance to reach the parking lots goes shorter.

• Journal of Korea Water Resources Association
• /
• v.39 no.7 s.168
• /
• pp.563-574
• /
• 2006

Economic theory tell us, consumers always make a choice to maximize their utility. In the market system, consumers' choices are revealed and policy maker taking into account the aggregated consumers choice such as price, supply and demand. However, water resources as a public goods, therefore typically there is no market and does no aggregated information for residential water use. This study explore the consumers' willingness to pay for higher quality for residential water. Over 1,000 households responded for this survey and willingness to pay has been estimated. Furthermore, consumers' behaviors of residential water are examined. Consumers are willing to reduce the amount of water use with more than 50% of increasing water price, but stay almost constant with less than 25% of increasing which mean that current price level is not high enough to derive water saving. If consumers can have better quality of water, they willing to pay additional 16%, $153\;won/m^3/month$, more than their current price. Based on the derived information, we suggested policy direction for residential water policy.

• Journal of Distribution Science
• /
• v.13 no.3
• /
• pp.79-91
• /
• 2015

Purpose - First, the study identifies and analyzes consumer preferences with regard to health foods and supplements. Second, it identifies and analyzes consumer preferences with regard to the properties of Vitamin C supplements. Third, in order to provide a basic data for the development of Vitamin C supplements and to measure how consumers value the properties of different Vitamin C products, a consumer survey was conducted through the choice-based conjoint model. Based on the results, the research estimates consumers' relative product-related priorities as well as price levels and willingness to pay (WTP) for different product types, and makes suggestions regarding consumer-oriented new product development and progressive directions for the successful launch of health foods and supplements. Research design, data, and methodology - This study aims to define the attributes of health foods and supplements based on several characteristics including their natural ingredients, product price, product originality, natural ingredient content, and additional functional ingredients, and makes suggestions regarding strategic market pricing and product development for health foods and supplements according to customer attitudes and characteristics. The research used choice-based conjoint analysis methodology based on the Multinomial Logic Model and collected 94 questionnaires filled out by users of Korean Vitamin C supplements. Results - Product price is the most influential factor among the five analyzed properties. When consumers buy Vitamin C products, the relative significance level of four of the examined properties is as follows: 40.9% for product price, 23.3% for product originality, 21.9% for natural ingredient content, and 13.9% for additional functional ingredients. Vitamin C content is excluded as it is not a statistically significant factor. It is interesting that supplement manufacturers and retailers consider Vitamin C content to be very important whereas consumers do not regard it as an important factor at the time of purchase. The results for the marginal willingness to pay (MWTP) for each property of Vitamin C supplements show that consumers are willing to pay an additional 11,146 Korean won for a 50% increase in the natural ingredient content. With regard to product originality, consumers are willing to pay an additional 11,301 Korean won for products manufactured in Europe than for products manufactured in China. Moreover, consumers show a greater preference for products manufactured in Korea than in Europe. However, consumers are not willing to pay more for additional Vitamin C or additional functional ingredients added to Vitamin C products. Conclusions - According to the results of consumer research on Vitamin C supplements, which represent a popular health food supplement in Korea, most Korean health food and supplement companies are not consumer- or market-oriented when developing new products. Companies gather information from either R&D specialists or sales managers and their opinions are highly reflected in new product development. The study's results will help companies recognize the importance of understanding consumers' unmet needs in advance to develop new products in the future.