• Title/Summary/Keyword: Willingness To Pay : WTP

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Estimates of Time-varying Values of Traffic Information on Variable Message Sign (첨두 및 비첨두시 VMS 교통정보의 가치 변화 연구)

  • Rhee, Kyoung-Ah;Lee, Young-Ihn
    • Journal of Korean Society of Transportation
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    • v.30 no.1
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    • pp.135-147
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    • 2012
  • The benefit of traffic information on variable message sign can be divided into two. At the public level, the benefit of ATIS is the travel time saving, which is not only induced from ATIS, but also mixed with that of ATMS. In the economic appraisal of ITS, the benefit of ATIS has so far been regarded as the derived benefit from ATMS. At the user level, the benefit of ATIS is reduced driver uncertainty through the forward traffic status information. User can benefit from the information on VMS and therefore may have the willingness to pay for it. Recently attempt to qualify the value of information on VMS was increased, but there was a danger of distorting or over-estimates of the ATIS benefit because the related studies didn't consider the time-dependent attributes of traffic information and provided the single value. Estimates of the time-varying value should be needed for a rigorous economic appraisal of ATIS. In this study, we varied the value of information on VMS according to peak and non peak trip and verified the hypothesis that time-varying of value was statistically significant.

Estimating the Economic Value of First-Grade Area in Ecological Nature Status (생태자연도 1등급지의 경제적 가치 추정)

  • Shin, Young Chul;Min, Dongki
    • Environmental and Resource Economics Review
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    • v.14 no.1
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    • pp.25-50
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    • 2005
  • This study estimates the willingness-to-pay (WTP) for avoiding the destruction of a first-grade ecological area by means of contingent valuation method. Specifically, we employ the dichotomous choice technique along with the follow-up questionnaires. Our analysis implies the yearly WTP per household for avoiding the destruction of the ecological area of 100,000 pyongs is 8,898 won with the 95% confidence interval of 6,611~11,976 won. We estimate the asset value of that area to be 1,707 billion won with the 95% confidence interval of 1,269 to 2,298 billion won. We also decompose the total value of the area into the value of direct (22%) and indirect (38.8%) use, the option value (19.9%) and the conservation value (21.3%). Although using these data for SEEA (the system of integrated environmental economic accounting) is bound by certain restrictions, one could employ our empirical findings as advisory information for decision making in the process of prior environmental review or for assessing the environmental impact.

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Estimating the Value of Statistical Life by Analysing Disease Protective Behavior: Focusing on Medical Examination of Cancer (질병예방행위 분석을 통한 확률적 인간생명가치 추정: 암 검진 행위 분석을 중심으로)

  • Shin, YoungChul
    • Environmental and Resource Economics Review
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    • v.17 no.4
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    • pp.845-873
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    • 2008
  • This study estimates the VSL(value of a statistical life) as well as the WTP(willingness to pay) for mortality risk reduction using sample selection model with data on liver cancer examination which is associated with little possibility of multi-purpose(i.e. joint production) in averting behavior. The marginal benefits of mortality risk reduction are estimated by applying for household production function model with medical expense and the time required for medical examination of liver cancer. Individuals are more likely to take liver cancer test if they are male, older, higher educated, those with spouse, smoker, more income of household, and more anxious about their health. The costs of liver cancer examination are statistically significantly affected with expected signs by size of mortality risk reduction, sex, period of eduction, those with spouse, and household income. The marginal effect of mortality risk reduction owing to taking liver cancer examination is estimated at 321,097 won. The costs of liver cancer examination are increased by 905 won with more one year of education period and by 1,743 won with more one million won in household income. On liver cancer examination, male spends more 12,310 won than female and those with spouse pay more 7,969 won than those without spouse. Therefore the VSL from mortality risk reduction due to liver cancer examination is 321.10 million won at mean size of mortality risk reduction and mean cost of liver cancer examination. The results of sensitivity tests on costs and effects of liver cancer test shows that the VSLs are estimated in a range from 160.55 million won to 642.19 million won.

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Economic Evaluation and Budget Impact Analysis of the Surveillance Program for Hepatocellular Carcinoma in Thai Chronic Hepatitis B Patients

  • Sangmala, Pannapa;Chaikledkaew, Usa;Tanwandee, Tawesak;Pongchareonsuk, Petcharat
    • Asian Pacific Journal of Cancer Prevention
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    • v.15 no.20
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    • pp.8993-9004
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    • 2014
  • Background: The incidence rate and the treatment costs of hepatocellular carcinoma (HCC) are high, especially in Thailand. Previous studies indicated that early detection by a surveillance program could help by down-staging. This study aimed to compare the costs and health outcomes associated with the introduction of a HCC surveillance program with no program and to estimate the budget impact if the HCC surveillance program were implemented. Materials and Methods: A cost utility analysis using a decision tree and Markov models was used to compare costs and outcomes during the lifetime period based on a societal perspective between alternative HCC surveillance strategies with no program. Costs included direct medical, direct non-medical, and indirect costs. Health outcomes were measured as life years (LYs), and quality adjusted life years (QALYs). The results were presented in terms of the incremental cost-effectiveness ratio (ICER) in Thai THB per QALY gained. One-way and probabilistic sensitivity analyses were applied to investigate parameter uncertainties. Budget impact analysis (BIA) was performed based on the governmental perspective. Results: Semi-annual ultrasonography (US) and semi-annual ultrasonography plus alpha-fetoprotein (US plus AFP) as the first screening for HCC surveillance would be cost-effective options at the willingness to pay (WTP) threshold of 160,000 THB per QALY gained compared with no surveillance program (ICER=118,796 and ICER=123,451 THB/QALY), respectively. The semi-annual US plus AFP yielded more net monetary benefit, but caused a substantially higher budget (237 to 502 million THB) than semi-annual US (81 to 201 million THB) during the next ten fiscal years. Conclusions: Our results suggested that a semi-annual US program should be used as the first screening for HCC surveillance and included in the benefit package of Thai health insurance schemes for both chronic hepatitis B males and females aged between 40-50 years. In addition, policy makers considered the program could be feasible, but additional evidence is needed to support the whole prevention system before the implementation of a strategic plan.

A Cost-Benefit Analysis on the Introduction of EU REACH to Korea (EU 신화학물질정책(REACH) 도입에 대한 비용편익 분석)

  • Cheong, Hoe-Seog
    • Journal of Environmental Policy
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    • v.8 no.3
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    • pp.53-79
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    • 2009
  • This study conducted a regulatory impact analysis regarding the introduction of the Korean version of REACH(Registration, Evaluation and Authorization of Chemicals). The direct cost of the Korean REACH is estimated at a total of 101 billion Korean won over the 11 year period. The cost includes pre-registration, testing, registration, Chemical Safety Assessment(CSA) and Chemical Safety Report(CSR), evaluation, and the authorization costs of 15,223 chemical substances produced and imported more than 1 ton per year in Korea in 2006. With regard to the benefit, the only public health benefit is included in the estimation. Based on the available foreign and domestic data, this study estimated that the economic values of public health benefits are in the range of 33.2~138.6 billion Korean won if only the savings of the National Health Expenditures are considered and it reaches 203.9~1,640.3 billion Korean won if the willingness to pay(WTP) for disease prevention is included. This study proved that the Korean REACH passed the cost/benefit criteria. The benefit-cost ratio of the Korean REACH, however, is estimated to be lower than its EU counterpart. Thus it is suggested that a rigorous study to reduce the costs to industry be required before the Korean government introduces the Korean REACH.

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Demand Analysis of the Home Ubiquitous Network Services Using Conjoint Method (컨조인트 분석방법을 이용한 홈 유비퀴터스 네트워크 서비스의 수요 분석)

  • 이종수;안지운;이정동;신혜영
    • Proceedings of the Korea Technology Innovation Society Conference
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    • 2003.11a
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    • pp.101-114
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    • 2003
  • 홈 유비퀴터스 네트워크란 PC, 휴대 전화, 디지털TV, 냉장고, 에어컨, 개인 휴대 정보 단말기(PDA), 게임기 등 가정 내의 정보기기들 사이에 통합된 네트워크를 형성해 데이터를 공유할 수 있는 환경을 구성한 것이다. 홈 네트워크 서비스를 가능케 한 요인은 기술적 측면에서 가전기기의 디지털화 및 초고속망의 보급, 수요측면에서 가전기기를 통한 다양한 서비스를 이용하고자 하는 소비자의 요구, 공급측면으로 포화된 정보통신기기 시장에서 새로운 수요창출이 필요한 환경 등으로 요약될 수 있다. 이와 같이 현재 정보통신산업은 지금까지 구축된 정보통신 인프라를 바탕으로 새롭게 등장한 홈 네트워크 서비스 분야에 주목하고 있다. 홈 네트워크는 정보통신기술을 가전기기에 융합시킴으로써 새로운 서비스를 창출한다는 점에서 정보통신산업은 물론, 기존의 백색가전 산업까지 포괄하여 관련 산업의 전후방 효과가 매우 크다. 본 연구에서는 홈 네트워크 서비스에 관련한 핵심 속성을 분석하고, 핵심 속성에 대한 소비자의 선호를 분석하는 실증연구를 수행하였다. 현재 홈 네트워크 시장이 본격적으로 형성되지 않아 현시선호(revealed preference) 자료의 구득이 불가능하므로, 소비자에게 향후 제공될 수 있는 서비스 특성을 지닌 가상적인 제품 조합을 제시하고, 이에 대해 소비자가 실제 시장에서와 같은 구매행위를 가정하도록 한 후, 각 제품 조합에 대한 선호 순위를 매기게 함으로써 소비자의 진술선호(stated preference)를 측정하는 컨조인트(conjoint) 방법론을 사용하였다. 이러한 분석을 통해서 홈 네트워크 서비스의 각 속성에 대한 소비자의 선호구조를 파악하고 지불의 사액(Willingness To Pay, WTP)을 분석하도록 한다. 본 연구의 결과를 이용하여 향후 전개될 홈 네트워크 서비스 및 관련시장의 발전 방향을 전망해 보고 이에 따른 기업이나 정부차원의 대응전략을 파악하고자 한다.육구에서는 큰 변화를 나타내고 있지 않았다(p<0.05). 운동과 비운동시킨 참돔의 지질 함량의 변화는 운동시킨 참돔은 운동으로 인한 에너지 소비로 인하여 함량이 유의적으로 감소했으며(r=-0.35), 비운동사육구에서는 절식으로 인하여 지질함량이 감소하였다(r=-0.38). 파괴강도와 가장 밀접한 영향을 가지는 콜라겐은 운동과 비운동 모두 사육기간동안 큰 변화는 보이지 않았다. 초기의 파괴강도값은 1.45±0.02kg(운동사육구), 1.36±0.18kg(비운동사육구)이였으며 사육기간동안 운동사육구는 파괴강도값이 증가한 반면, 비운동수조에서는 참돔의 파괴강도는 사육기간동안 큰 유의차가 없었다. 각 성분간의 상관도를 살펴보면, 수분함량과 파괴강도는 상관성을 가졌으며, 지질함량과 파괴강도도 같은 경향은 나타내었다. 운동기간동안의 파괴강도와 콜라겐 사이에는 상관성의 거의 없었다. 이는 운동기간에 따른 파괴강도의 증가가 콜라겐의 함량의 증가보다는 지질함량의 감소와 수분함량의 증가와 같은 성분과의 상관성이 크다고 판단된다. 다음으로는, 운동횟수에 의한 영향으로써 운동시간을 1일 6시간으로 설정하여, 운동횟수를 결정하기 위하여 오전, 오후에 각 3시간씩 운동시키는 방법과 오전부터 6시간동안 운동시키는 두 방법을 이용하여 품질을 비교하였다. 각 조건에 따라 운동시킨 참돔의 수분함량을 나타낸 것으로, 2회(오전 3시간, 오후 3시간)에 나누어서 운동시키기 위한 육의 수분함량은 73.37±2.02%를 나타냈으며, 1회(6시간 운동)운동시키기 위한 육은 71.74±1.66%을 나타내었다. 각각의 운동조건에서 양식된 참돔은 사육초기에는 큰 변화가 없었으나, 사육 5일 이후에는 수분함량이 증가하여 15일에는 76.40±0.14, 75.62±0.98%의 수분함량을 2회와 1회 운동시킨 참돔의 육에서 각각 나타났다. 운동횟수에 따른 지질함량은 2회 운동시킨 참돔은 5.83±2.08, 1회 운동시킨 참돔은 6.72

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A Study on Developing a Model for Cancer Damage Cost Due to Risk from Benzene in Ulsan Metropolitan City (울산 지역에서 대기중 벤젠으로 인한 암 사망 손실비용 추정 모형에 관한 연구)

  • Lee, Yong-Jin;Kim, Ye-Shin;Shin, Dong-Chun;Shin, Young-Chul
    • Environmental and Resource Economics Review
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    • v.13 no.1
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    • pp.49-82
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    • 2004
  • The study aimed to evaluate cancer damage cost due to risk from benzene inhalation. We performed health risk assessment based on US EPA guideline to estimate annual population risk in Ulsan metropolitan city. Also, we estimated a willingness-to-pay amount for reducing a cancer mortality rate to evaluate a value of statistical life. We combined the annual population risk and the value of statistical life to calculate the cancer damage cost. In the health risk assessment, we applied the benzene unit risk ($2.2{\times}10^{-6}{\sim}7.8{\times}10^{-6}$) in the US EPA'S Integrated Risk Information System to assess the annual population risk. Average concentration of benzene in ambient air is $7.88{\mu}g/m^3$(min: 1.16~max: $23.32{\mu}g/m^3$). We targeted an exposure population of 516,641 persons who aged over 30 years old. Using a Monte-Carlo simulation for uncertainty analysis, we evaluated that the population risk of benzene during ten years in Ulsan city is 2.90 persons (5 percentile: 0.32~95 percentile: 9.11persons). And the monthly average WTP for 5/1,000 cancer mortality reduction during ten years is 14,852 Won(95% C.I: 13,135~16,794 Won) and the implied VSL is 36 million Won(95% C.I: 30~40 million Won). Cancer damage cost due to risk from benzene inhalation during 10 years in Ulsan city is about 104 million Won(5 percentile: 13~95 percentile: 328 million Won). Health benefit cost to reduce a cancer mortality risk of benzene is about 50 million Won is Ulsan metropolitann city. But, it is very important that this cost is not for all health damage cost of cancer mortality in some area. We just recommended a model for evaluating a cancer risk reduction, so we must re-evaluate an integrated application of total VOCs damage cost including benzene.

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A Study on the Economic Valuation of the Suncheon Bay Wetland according to the Logit Model (로짓모형에 따른 순천만습지의 경제적 가치평가)

  • Lee, Jeong;Kim, Sa-rang;Kweon, Dae-gon;Jung, Bom-bi;Song, Sung-hwan;Kim, Sun-hwa
    • Journal of the Korean Institute of Landscape Architecture
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    • v.45 no.6
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    • pp.10-27
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    • 2017
  • Recently, the importance of recognizing the natural environment and the need for its conservation are increasing due to rapid urbanization. Suncheon Bay, designated as Scenic Site No. 41 and one of the World's Five Greatest Coastal Wetlands, is the only tideland among the tidal flats in Korea, which has salt marsh reserves. It has high conservation value from the ecological aspect. In addition to the Suncheon Bay National Garden, it provides various benefits not only to visitors but to local residents as well in terms of economics, environmental issues, and history and cultural aspects. Two million tourists visit the site annually, which has constantly highlighted the limits of ecological capacity. The valuation of the Suncheon Bay wetland is more important for the sustainability of the Suncheon Bay wetland than for its value as a tourism resource for the activation of the local economy. This study used the Logit model, which is commonly used among probabilistic choice models, to evaluate the economic value of Suncheon Bay wetland with the contingent valuation method(CVM). Applying the conservation value of the Suncheon Bay wetland to the benefit of KRW 8,200 for 1 person and 1 day, the benefit from exploration is KRW 2,050, the management and conservation value is KRW 3,034, and the heritage value is KRW 3,116. The results of this study are that benefit from the annual exploration of Suncheon Bay wetland was KRW 44.3 in billion, the management and conservation value was KRW 6.55 in billion, and the heritage value was KRW 6.73 in billion. When converted to the number of paying visitors per year, the conservation value is about KRW 177.1 billion. This study was conducted to evaluate the use and conservation aspects of the economic value of Suncheon Bay wetland. Based on the latent value of the Suncheon Bay wetland, it provides basic data about the efficient management and policy establishment of Suncheon Bay wetland. The study is significant in that the ecological sustainability of the Suncheon bay wetland and the value of non-marketable were evaluated based on the recognition of 'benefit through exploration', 'management and conservation value' and 'value of heritage'. It can be used as policy decision data on the integrated collection of the admission fee of the Suncheon Bay wetland and Suncheon Bay National Garden.

Mountainous Landscape Management Value by Landscape Recognition (경관인식에 따른 산지경관 관리 가치 연구)

  • Min, Su-Hui;Jang, Hyo-Jin;Jeung, Yoon-Hee;Song, Jung-Eun
    • Journal of the Korean Institute of Landscape Architecture
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    • v.46 no.3
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    • pp.70-78
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    • 2018
  • Recently, the conservation of mountainous landscape and compensation for diverse demands for mountain areas such as leisure, recreation and welfare are under discussion. The purpose of this study is to investigation the perception of mountainous landscapes by those who view and recognize the landscapes and to estimate economic value by estimating the willingness to pay for the management of mountainous landscapes. This study will provide data for the management of mountainous landscapes. As a result of comparing the perception between the territorial landscape and the mountain landscape, the mountain scenery was 3.96, the management level satisfaction was 3.28, and the management necessity was 4.38, which was higher than the national landscape, while the national landscape was satisfactory but the management level was insufficient. Jeju Island (39.0%) and Gangwon (38.6%) were chosen as the most scenic areas with beautiful forest and mountainous landscape resources. The aesthetic characteristics of the vast skyline of mountain scenery, the background of the area, and the mountainous landscape that forms the landmark were evaluated highly. And, it is considered that consciousness of mountainous landscape management is heightened by 86.8% of respondents, who positively answered the Mountainous Landscape Visual Impact Assessment before the development project. The per capita payment amount for mountainous landscape management was calculated to be 3,742 won and, based on the number of visitors to the mountain National Parks in 2016, it is estimated to have an economic value of about 169.5 billion won. Policymakers have limitations in the mountainous landscape management policies of the administrative subject. Establishing a consensus on the importance and necessity of landscape management by diagnosing the status of public perception is expected to help create more effective policy direction and implement strategies for the management of these areas.