• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.5 no.2 s.10
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• pp.29-43
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• 2006

Highway ARS service made several times handling of cellular phone for accept the one information. But, use the cellular phone while driving is against the law that 'Road Traffic Act' and wield influence on safety by degrade driver's attention that causes reduced section of concentration. On this study, propose a new type service that more useful and safer witch improved of existing ARS service to it served for cellular phone. For the analyze problem in existing ARS service, collect and analysis that ARS using status data and highway overall speed data, and then offer a better service type which based on improvements to that. Also, make a comparative analysis including measure of degree about easy to use and safety between two services by using the Stated Preference method, as a result of verifies the effect of new type service Finally, for measure of the effect the value of improved ARS service type that used willingness to pay in CVM method.

• Journal of Environmental Policy
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• v.14 no.1
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• pp.3-32
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• 2015

The critical temperature and the rate of increase in excess death caused by heat waves in the age group of 65 years and older are derived. The value of statistical life method was used to quantify economic damages, and the willingness to pay after 71 years of age for 10 years was measured based on the dichotomous choice contingent valuation method survey. The result shows about KRW 481,110,000 is required annually to reduce the possibility of death by climate change to 1/1000.

• Journal of Technology Innovation
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• v.5 no.1
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• pp.206-222
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• 1997

The conventional analysis with which justifies government intervention of the private sector's innovation activities is the market failure approach. According to such analysis, fund allocation through autonomous market mechanisms is not optimal in technology financing because of the disparity between the desirable level of investment for society as a whole and that for private firms. To optimize the fund allocation, public policies such as subsidy, preferencial loan and venture capital investment programs are designed for technology development projects performed by private firms. They, however, have not been effective in increasing private investment for such projects. In most cases, it was found that little considerations given to the relationship between uncertainty embodied in technology development projects and each types of financing. With respect to optimizing fund allocation, technology development projects should be financed by different means according to their probability of success and the expected value of technology. Employing various theoretical models on financing decision-making we verify here that technology development projects to be supported by commercial banks or venture capital institutions is limited contingent upon levels of uncertainty adn expected value. Under the assumption that financial institutions are risk averse, loan or investment can be available only if the probability of success of the project is higher than the probability premium and the current market rate of interest. Therefore, the projects that have lower probability of success and/or small expected return are excluded from commercial loan or investment programs. However, the remaining projects, whose probability of success is low but with high expected return, may be applied under government subsidy programs. To achieve optimality of fund allocation and to activate technology financing, we conclude that there should be a systematic division of role among financial institutions including government commercial banks, and venture capital institutions.

• Journal of Environmental Impact Assessment
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• v.19 no.4
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• pp.409-420
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• 2010

Heritage resources have become important social assets as the global interests in heritage tourism increased. Utilization of heritage as unique tourist destination has positive effects on regional economy, which in turn plays an important role in heritage conservation. However, it was found that the essential quality of heritage resources has been degraded and even destroyed when excessive use was permitted. This undesirable side-effects of heritage tourism have led to the growing concern for sustainable tourism that can contribute to both utilization and conservation of heritage. In order for sustainable tourism to be effectively implemented, it is crucial for visitors to be aware of the need for heritage conservation because they are the most important consumers of the heritage. The purpose of this study was to suggest some basic information for sustainable tourism by investigating visitors' evaluation of conservation and use values of heritage resources. The study sites were the two Korean traditional temples(Sokrisan Bubjusa and Naejangsan Naejangsa) and contingent valuation method was used. 390 visitors in Bubjusa and 308 visitors in Naejangsa participated in the questionnaire survey. From the results, sustainable tourism is possible in such heritage areas as traditional temples because the participants had relatively balanced values for heritage conservation and use. The WTP for natural conservation value was found to be highest in both temples; visitors may be more agreeable with the heritage conservation plan if the sustainability of natural resource is emphasized. Also, the use value of heritage could be influenced by the tourism utilization of the area where the heritage was located. If there are no other famous tourist destinations except the heritage in the area, additional plans to develop alternative destinations should be prepared in order to formulate the agreement on the need to protect the heritage among visitors, local communities, and government.

• Asia-Pacific Journal of Business
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• v.1 no.1
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• pp.23-40
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• 2010

This article estimates the total evaluation of the festival and investigates the determinants of visitors' WTP(willingness to pay) for the festival. Hi Seoul Festival is a way to introduce Korean culture to other foreigners as well as to serve as an economic and cultural stimulus for Seoul. A contingent evaluation survey was conducted and a total of 763 useful samples were collected. The results show that the evaluation of the festival were different across three different WTPs which were calculated as 2,846 won, 3,321 won, and 4,838 won. The annual total benefits value is calculated as 433.767 billion Korean won. And visitors' sex and visitors' satisfaction(keep up festival, need to modify) was a important determinants of the WTP for a visit. These findings may provide guidance managers and practitioners who help maintain the Hi festival.

• Journal of Korean Society of Transportation
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• v.30 no.6
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• pp.3-12
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• 2012

Additive willingness-to-pay (WTP) for leisure-travel time saving focused on the Iksan-Pohang Expressway and the Donghae Expressway was surveyed during the summer months to estimate the value of travel-time savings (VTTS) for non-business leisure trips. Travelers traveling between 2 and 3 hours on Iksan-Pohang Expressway had WTP of 723 won per 10 minutes of leisure-travel time savings and those traveling between 3 and 4 hours on Donghae Expressway had WTP of 854 won per the same. Based on this survey, we learned that WTP in leisure travel time savings increased with the total travel time. 300 effective samples for each expressway were collected, and estimation was separately conducted on the basis of Cox test.

• Environmental and Resource Economics Review
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• v.18 no.3
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• pp.431-455
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• 2009

This study estimates the WTP for the plan of solving deforestation due to limestone mining and calculates that damage cost using contingent valuation method. As the results of analysing a dichotomous choice CV data, the yearly mean WTP per household for the plan is 5,045 won(95% confidence interval : 3,729~6,360 won) in single bounded CV model and is 4,361 won(95% confidence interval : 3,710~5,012 won) in double bounded CV model. The damage cost of deforestation due to limestone mining can be estimated as 55.3% of WTP for the plan which is assigned to restoring the deforestation area to the original or similar alternative state. The average yearly deforestation cost of 1 ha due to limestone mining is reached 20.90 million won(95% confidence interval : 16.53~25.27 million won). And the asset value of that 1 ha damage is 160.02 million won(95% confidence interval : 126.56~193.49 million won). The fact is found that the damage cost of deforestation using replacement cost method is likely to be underestimated. The total damage cost of deforestation because of limestone mining in 3 cities (Donghae, Samcheok, Yeongwol) is 204.0 billion won(95% confidence interval : 161.4~246.7 billion won) which is composed of 26.5% for Donghae, 28.9% for Samcheok, and 44.6% for Yeongwol according to the damage size of deforestation due to limestone mining in 3 cities.

• Environmental and Resource Economics Review
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• v.21 no.4
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• pp.999-1024
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• 2012

The Purpose of this study was to assess the willingness to pay(WTP) for the new road construction plan(slip road of urban highway which was advertising extensively to reduce the time to the core of metropolitan area) on housing prices using contingent valuation method(CVM). And this study was an empirical study which was based on the consciousness of residents whose apartment was within the Suwon Si's new plan of 47th road construction zone. In this study, it was revealed that the resident's WTP for the plan of new road construction which was built on the neighborhood of apartment was within the 10 percent of housing prices that was similar to the standard declared price of MLTM(Ministry of Land, Transport and Maritime Affairs). And also revealed that the difference of sale prices of real estate company was 24 percent. The statistical assessment results show that both the resident's characteristic variables such as gender, incomes, size of apartment and the accessability variables such as distance to parks, schools, department stores, living facilities were positive effects on the prices of apartments significantly. Finally, the house has depreciated than that of MLTM and WTO since torpedoed the road construction plan. These results imply that, we have to take capital appreciation of the property into account due to road construction since the accessibility was very significantly positive internal effects on the apartment housing prices.

• Journal of Energy Engineering
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• v.24 no.3
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• pp.67-73
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• 2015

Almost base-loaded power plants such as flaming coal and nuclear energy require large-scale transmission facilities (LTFs) in order to send electricity to remote consumption areas. As well known, LTFs incur various social costs. However, a decentralized generation source such as integrated energy business (IEB)-based combined heat and power (CHP) plant is located in nearby electricity-consuming area, and thus it does not demand LTFs, providing the benefits from avoiding the damages caused by them. This study attempts to measure the benefits of avoiding the damages from the LTFs by the use of the contingent valuation (CV) method. To this end, a national survey of randomly chosen 1,000 households was implemented and the public's willingness to pay (WTP) for substituting consumption of electricity generated from flaming coal-fired power plant, currently a dominant generation source in Korea, with that produced from IEB-based CHP plant. The results show that the WTP for the substitution is estimated to be about 41.4 won per kWh. Considering that this value amounts to 33% of the average price of residential electricity in 2014, the external benefit of the IEB-based CHP as a decentralized generation appears to be large.

• Journal of Energy Engineering
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• v.24 no.3
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• pp.40-47
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• 2015

Integrated gasification combined cycle (IGCC) power plants not only emit less greenhouse gases and air pollutants than conventional coal-fired power plants, but also use low-price, low-quality, and internationally easily procurable coal. Thus we can benefit from safeguarding energy security through building the IGCC power plant. This paper attempts to value the benefits of energy security enhanced by IGCC power plant. To this end, we report here the results from a contingent valuation survey of randomly selected 600 households. A combination of a double-bounded model and a spike model is applied for the purpose of increasing statistical efficiency and dealing with zero(0) willingness to pay data, respectively. The results show that the respondents are additionally willing to pay 6.05 won for 1kWh of electricity generated from IGCC power plant. In other words, the benefits from safeguarding energy security through building the IGCC power plant are 6.05 won per kWh. Given that the expected amount of generation from the Taean IGCC power plant that is scheduled to be built in late 2015 is 2.27 TWh per year, the benefits are estimated to be 13.74 billion won per year.