• Ocean and Polar Research
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• v.34 no.2
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• pp.175-183
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• 2012

A project to build a large oceanographic research ship was proposed to improve the level of ocean 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, the recently proposed one and one-half bounded model is applied. The model can reduce the potential for response bias compared 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 500 randomly selected households was implemented in the Metropolitan area. The respondents were asked in person-to-person interviews about how they would be willing to pay for implementing the project. Overall, respondents accepted the contingent market, and were willing to contribute a significant amount (3,244 won), on average, per household per year. The aggregate value of the project nationwide would amount to approximately 40.1 billion won per year.

• Proceedings of the Korea Water Resources Association Conference
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• 2010.05a
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• pp.452-456
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• 2010

Water is an indispensable input to human's existence and industrial production. In these days, people are getting more concerned about their health and the interest in the safety of drinking water has increased. In this situation, this paper attempts to measure the economic benefits of the tap water quality improvement. The study area was restricted to Busan, the second largest city in Korea, where local government is planning to implement a tap water quality improvement program. We apply a one-and-one-half bounded dichotomous choice contingent valuation (CV) method to obtain at least a preliminary evaluation of the benefits. CV is developed for valuing goods or services that cannot be valued either directly or indirectly from market observations and has been applied to several environmental goods. The CV survey was rigorously designed to comply with the guidelines for best-practiced CV studies. We surveyed a randomly selected sample of 400 households in Busan and asked respondents questions in person-to-person interviews about how they would be willing to pay for the water quality improvement. Respondents overall accepted the contingent market and were willing to contribute a significant amount (US$1.66), on average, per household per month. We can also calculate the aggregate value of the program which improves the water quality in Busan. This study is expected to provide policy-makers with useful information for evaluating and planning environmental policies relating specifically to water.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.32 no.4D
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• pp.323-333
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• 2012

This paper is aimed to recognize trends of various social groups about multiple transportation policies such as the crosswalk restoration by eliminating the pedestrian overpasses and the improvement or continuous extension of existing pedestrian overpasses, currently implemented in Busan, following the globally prevailing pedestrian-oriented transportation environment. Also, this paper utilizes Contingent Valuation Method (CVM) to evaluate the efficiency of individual alternatives in terms of respondent's willingness-to-pay (WTP). Consequently, survey participants preferred the crosswalk or improvement of the pedestrian overpasses rather than depending on the existing pedestrian overpasses. In addition, the WTP value for the crosswalk restoration is approximately 42,452 won per household per year, and, on the other hand, the WTP value for the improvement of existing pedestrian overpasses is approximately 36,793 won per household per year, implicating that the transportation policy makers are suggested to place more priorities on crosswalk restoration than the improvement of the existing pedestrian overpasses.

• International Journal of Highway Engineering
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• v.18 no.5
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• pp.75-82
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• 2016

PURPOSES : This study was initiated to estimate the benefits from the campaign to prevent drowsy driving crashes on expressways. The study was conducted by the Korea Expressway Corporation using a contingent valuation method. METHODS : First, a questionnaire was designed for a preliminary survey. From the survey's results, the initial willingness to pay for the campaign was determined by averaging different amounts of payments chosen under virtual scenarios in the survey. The willingness to pay data was used to find a first bid price for the open-ended method used for the second survey. After that, a primary questionnaire was designed and conducted using a single dichotomous choice question (SDBCQ). Drivers at expressway resting areas were asked their willingness to pay for the campaign. Based on statistical analysis using data collected from the second survey, the mean willingness to pay was estimated using a probability utility function. Finally, the benefit from the campaign was calculated using the estimated willingness to pay and accident data on expressways. CONCLUSIONS : Based on the result from the contingent valuation method, the benefit from the campaign to prevent drowsy driving crashes was estimated to be 170.6 won per expressway trip. The benefit is to be paid as an additional toll. In addition, the traffic crash cost estimate is about 2,209,680,000 won less than the cost during the same period in 2014.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.16 no.7
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• pp.4489-4497
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• 2015

This study aims at estimating the consumer's demand and willingness to pay(WTP) for horse meat in Korea. Three econometric models are employed to examine the multiple layers of the demand, including the current demand, the potential demand and latent demand. Findings indicate a substantial demand for horse meat. Dichotomous choice contingent valuation method is used to elicit the WTP. We assess the mean WTP for horse meat using a double-bounded logistic model. As a result, consumers are willing to pay at 67.8 percent of the beef prices of the third quality grade to purchase horse meat. And, for the factors that influence on WTP, only sex, age and recognition of horse meat are statistically significant.

• Journal of Korean Society of Forest Science
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• v.103 no.3
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• pp.453-461
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• 2014

As interest in 'Forest therapy' continues to increase, local governments as well as Korea Forest Service (KFS) are actively promoting a project to create 'healing forests' nationwide. In this situation, it is necessary to examine whether such a policy is suitable. Therefore, the main purpose of this study is to estimate the use value of Jangseong healing forest which is the most-visited place among the national healing forests. To achieve this aim, a survey of randomly selected 400 visitors was conducted in Jangseong healing forest. 391 surveys were used for analysis, excluding 9 untruthful answers. And 1.5 bounded dichotomous choice contingent valuation method (CVM) was used to estimate the economic value of Jangseong healing forest. As a result, the average willingness to pay ($wTP_{mean}$) for the use fee of Jangseong healing forest was 35,010 won per visitor per day. And the annual use value of Jangseong healing forest was estimated to be worth almost 7.5 billion won.

• Journal of the Korean Society for Marine Environment & Energy
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• v.16 no.3
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• pp.217-225
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• 2013

It is time to develop new renewable energy that could fundamentally replace fossil fuel, which has been increasingly needed due to environmental pollution and energy security. Korean marine bio-energy development project is planned to produce 50% of total bioenergy. This study attempts to measure the greenhouse gas emission reduction benefits of marine bio-energy development project through contingent valuation method. Single bounded dichotomous choice (SBDC) is applied with spike model. The results show that the average willingness to pay are estimated to be KRW 4,190 at SBDC, per household per year. If the result has been expanded to the region which is survey conducted, KRW 50.1 billion annually. These quantitative information can be usefully utilized in the cost benefit analysis to implement project and policy-making for the industrialization of marine bio-energy development project.

• Journal of Environmental Policy
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• v.6 no.1
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• pp.83-109
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• 2007

This study evaluates citizen's willingness-to-pay for the benefits from improved water quality of the Taehwa river in Ulsan, Korea, using a contingent valuation method with double-bounded dichotomous choice. The estimation results of the bivariate probit model shows the amounts of willingness-to-pay are monthly 3,458.5 Korean Won per household and yearly 14,760 million Korean Won for total households in Ulsan, Korea. These estimates are equivalent to the social values of improved water quality of the Taehwa river. This study also tests the inter-dependence between two answers, which may occur in the responses of the questions for the double-bounded dichotomous choice, and all the null hypotheses on the inter-dependence are rejected in this study.

• Journal of Korean Society of Forest Science
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• v.96 no.3
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• pp.283-289
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• 2007

Benefit-cost analysis is a useful tool for organizing information on the relative value of alternative public investments like national park preservation projects. When the value of all significant benefits and costs can be expressed in monetary terms, the net value (benefits minus costs) of the alternatives under consideration can be computed and used to identify the alternative that yields the greatest increase in public welfare. However, since goods and services of national parks are not commonly bought or sold in the marketplace, it can be difficult to express the outputs of a national park preservation project in monetary terms. In this case the dichotomous choice contingent valuation is employed to elicit the public benefit value. In this paper, a distribution-free approach, Turnbull empirical distribution model, is employed to analysis the benefit value of Woraksan National Park. The result is shown that annual use and preservation values of Woraksan National Park are estimated 6.5 and l37.4 billion won. Also, flow and stock values are estimated 143.9 and 3,021.7 billion won, respectively.

• Design Convergence Study
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• v.16 no.3
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• pp.17-37
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• 2017

The purpose of this study is to evaluate the value of the center of age-friendly goods to confirm the public value of the center. 152 elderly participants, either who have utilized the center themselves or who have experienced the center indirectly through the image have participated in the study. The experience of age-friendly product center was evaluated by the contingent valuation method, which is widely used in the public services. A double-bounded dichotomous choice (DB-DC) log-logistic model and a log-normal model were conducted. As the result of the estimation, the truncated mean of the log-logistic model was 3,401 Korean won, with the mean of 4,937 won. In addition, the truncated mean of the log-normal model was 3,433 won, with the mean of 4,144 won. Elderly who have not experienced the center placed a higher value on the center, compared to the experienced elderly. The results imply the necessity to enlarge the opportunity for future suppliers to experience the center for age-friendly products, in order to improve their objective understandings. In addition, the necessity of expanding exhibition products and applying age-friendly designs is proposed, to offer various attractive experiences to elderly.