• Environmental and Resource Economics Review
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• v.14 no.3
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• pp.655-672
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• 2005

In recent years, the state of the water quality of Han river has been among the top public concerns. This paper measures economic value of multiple environmental impacts of improved water quality of Han river using a choice experiments approach. The choice works that take into account trade-offs between price and environmental attributes for a preferred option turned out to be within respondent' ability to reveal their preferences, and the willingness to pay estimates were statistically significant. This study allows policy-makers to provide useful quantitative information that can be referred to as a benchmark for upcoming water projects.

• Journal of Korea Technology Innovation Society
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• v.16 no.3
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• pp.630-649
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• 2013

Korea Meteorological Administration has promoted the next generation urban and rural smart weather service project. The purpose of this project is to provide the necessary information to urban and rural districts by using the subdivided meteorological information. This study attempts to assess the value of the next generation urban and rural smart weather service project by using contingent valuation method. According to estimating result, annual mean willingness to pay per household for the next generation urban and rural smart weather service project is 2,947 won.

• New & Renewable Energy
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• v.18 no.3
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• pp.32-42
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• 2022

Rapid spread of intermittent renewable energy has amplified the instability and uncertainty of power systems. The Korea Power Exchange (KPX) promoted efficient management by opening the power brokerage market in 2019. By combining small-scale intermittent renewable energy with a flexible facility through the power brokerage market, the KPX aims to develop a virtual power plant system that will allow the conversion of existing intermittent renewable energy into collective power plants. However, the participation rate of renewable power owners in the power brokerage market is relatively low because other markets such as the small solar power contract market or the Korea Electric Power Corporation power purchase agreement are more profitable. In this study, we used a choice experiment to determine the attributes affecting the participation rate in the power brokerage market for 113 renewable power owners and estimate the value of the power brokerage market. According to the estimation results, a low smart meter installation cost, low profit variations, long contract periods, and few clearances increased the probability of participation. Moreover, the average value of the power brokerage market was estimated to be 2.63 million KRW per power owner.

• Korean Journal of Organic Agriculture
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• v.30 no.2
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• pp.255-277
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• 2022

This study investigated consumers' perception of fruits and vegetables grown in smart farms to stimulate the sale of agricultural products grown in smart farms. To this end, a survey was conducted on 1,050 consumers. The main results are as follows. First, 58.6% of respondents knew about smart farms, and they perceived fruits and vegetables grown in smart farms as more valuable than those grown in conventional facilities. In the detailed values, values of safety and environmental damage reduction were perceived to be of greatest value among five values. Second, as a result of investigating the importance of smart farm cultivation information in comparison with price, the most respondents emphasized both smart farm cultivation information and price information, and smart farm cultivation information was compared with price information. Cases were investigated to be more important with slight differences. Third, 41.4% of respondents had the price premium payment intention for fruit and vegetables grown in smart farms. Fourth, as a result of analyzing variables affecting the premium intention, the higher the health value among five values was recognized and the more important the smart farm cultivation information was, the higher the premium payment intention was.

• Journal of the Korean Society for information Management
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• v.25 no.3
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• pp.339-355
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• 2008

The purpose of this empirical case study is to explore what factors affect on the economic valuation of academic journals and to ascertain the degree of each impact. For this study, factors were categorized into three groups: internal factors external factors and demand theory factors. The on-line questionnaire was used to collect data and 383 responded from individual users of and the persons in charge of the DDS(Document Delivery Service). Collected data were analyzed using SPSS 12.0 for Windows/PC. The result showed that there exist a strong relationship between the internal factors of academic journals(i.e., Impact Factor, Cost, and Language) and economic valuation in terms of its use value.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.30 no.1D
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• pp.61-70
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• 2010

In case of low benefit project with low traffic or high-priced project, existing analysis of cost and benefit tends to present a low feasibility. However, considering the improvement of environment, intensification of disaster prevention, public stability of countryside area and formation of good scenery, these projects can have a feasibility. This paper analyzes and summarizes the indirect benefit of some ripple effects, caused by road projects, and presents the methodology and process in order to change the indirect benefit into monetary value.

• Journal of Korea Technology Innovation Society
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• v.16 no.1
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• pp.20-40
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• 2013

A project of developing marine environmental risk assesment and management technology was proposed to improve the level of marine environmental management research. This paper attempts to measure the non-market benefits of the project. To this end, the dichotomous choice contingent valuation method is used. In particular, recently proposed one and one-half bounded model is applied. The model can reduce the potential for response bias comparing to the double bounded model while maintaining much of its efficiency. Moreover, in order to deal with zero WTP observations, a spike model is adjusted for our data. A survey of randomly selected 600 households was implemented and the respondents were asked in person-to-person interviews about how they would be willing to pay for implementing the project. Respondents overall accepted the contingent market and were willing to contribute a significant amount (2,663 won), on average, per household per year. The aggregate value of the project in the nation amounts to approximately 46.3 billion won per year. The figure 2.16 of cost-benefit ratio shows that economic validity of this technical development.

• 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.

• Journal of Navigation and Port Research
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• v.38 no.6
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• pp.663-672
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• 2014

In Korea and the Philippines, as well as all over the world, with the recognition of the importance of marine ecological resources, the marine protected areas(MPA) have been established and managed to protect and preserve these resources. While the number of marine protected areas for marine ecological resources protection has been increased, there is main problem that the most of MPAs do not achieve their intended management objectives. the effective management. Because of the positive and negative impacts on local communities and fishermen as direct stockholders, there has been ongoing debate on the pros and cons of implementing MPAs. Accordingly, this research conducted a case study of establishing Marine Protected Areas in Guimaras, Philippines because Philippines fisheries code of 1998 (Republic Act 8550), which is enacted to manage, conserve and protect fishery resources, obliged local governments to designate no less than 15% of jurisdictional municipal water as fisheries resource protection areas for a long time. To do this, a dichotomous-choice contingent-valuation survey was conducted in the two municipalities of Guimaras, Philippines to investigate public opinion in debates over MPAs and to estimate willingness to pay (WTP) for MPAs to protect and conserve marine habitats for fishery resources. Because of the expected economic costs by prohibiting fishing activities within the establishing newMPA, 58.7% of respondents thought the costs should be compensated, but 91.4% respondents voted in favor of increasing MPAs for fisheries resources as a protective measure. Finally, with Contingent Valuation Method(CVM), the aggregate mean WTP (375.5ha) of San Lorenzo and Sibunag residents in Guimaras Province, Philippines for establishing the additional MPA in their municipality waters was estimated to $1,046,791. Therefore, these findings could be used as a valuable data for establishing effective management plan of MPAs in Korea.

• Environmental and Resource Economics Review
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• v.32 no.1
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• pp.1-26
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• 2023

This study employs the dichotomous choice contingent valuation method to estimate the Value of a Statistical Life (VSL) and the Value per Statistical Case (VSCC) of cancer risk. In contrast to the previous studies, which presented the mortality risk probability directly, the study uses conditional probability, which combines the chance of getting cancer and dying from it. In addition, the study examines the impact of variables that may affect willingness to pay for reducing the risk of death from cancer and getting cancer, such as the impact on daily life and pain levels associated with cancer. The results indicate that the estimated cancer VSL ranges from approximately 952 million won to 3.359 billion won, while the VSCC is estimated to be between about 0.42 billion won and 2.72 billion won. The study finds a significant difference in the VSL depending on whether the reduction in mortality risk is from a decrease in the chance of getting cancer or a decrease in the chance of dying from cancer. However, the effect of impacts on daily activities and pain on willingness to pay is inconclusive.