• Journal of Korea Water Resources Association
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• v.41 no.3
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• pp.315-324
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• 2008

This paper double-bound dichotomous choice method as a contingent valuation methods is used to derive willingness to pay for the water quality at the Anyangcheon watershed. The linear random utility model show that value of improvement of the Anyangcheon watershed water quality is 4,930 won per house and month of the Seoul and Gyeong-gi area residents. There is no difference between Seoul and Gyeong-gi area residents. Respondents overall accepted the contingent market and were willing to contribute a significant amount (3,860 to 5,101 won), on average, per household per month. The aggregate value of the water quality improvement in the Anyangcheon watershed amounts to approximately 83.0 to 109.7 billion won per year. This study is expected to contribute to the decision-making process for policy-makers by providing useful methodological framework and quantitative information related to watershed improvement projects.

• Asia-pacific Journal of Multimedia Services Convergent with Art, Humanities, and Sociology
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• v.6 no.6
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• pp.403-412
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• 2016

As transaction and investment using technology are vitalized, the need for objective standards for the technology is increasing. Current technology value evaluation system is limited lacking reliability and objectivity. Besides the traditional evaluation methodology which are market approach, income approach and cost approach other diverse evaluation methodology such as real option method and royalty calculation method are being studied; however currently there are no dominant evaluation methodology in the market. Same value evaluation system cannot be applied between similar technologies because value of technology is relatively decided based on the target. Approaching through collective intelligence and crowd sourcing, in meaning of majority participant's decision can make objective and better result than handful of experts, suggest alternative to problems of such matter above. By grafting the four types of crowd sourcing model which are Wisdom, Voting, Funding and Creation, this paper will discuss the ways to enhance the objectivity of technology evaluation through direct evaluation utilizing expert group and the public's indirect evaluation.

• The Journal of Fisheries Business Administration
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• v.49 no.3
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• pp.85-99
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• 2018

This study is to compare and evaluate the estimating method of WTP(willingness to pay) for the valuation of oceans and fisheries resources with non-market goods characteristics using contingent valuation method. In general, when estimating parameters of the WTP function, we should take into account the assumption of probability distribution, inclusion of covariates, method of inducement of payment, and the treatment of 0 payment intention and resistance responses. This study utilizes survey data that was used to estimate the value of fisheries resource protection zones, with a total of 1,200 samples. The main results of this study are summarized as follows: First, the final willness to pay amount is estimated at a statistical significance of less than 1 percent, and the distribution of the final willness to pay amount is from \6,926 of the double bounded dichotomous model to \10,721 of the spike model. Second, the willness to pay amount based on assumptions about the normal and logistic probability distributions are estimated to be \9,429 and \9,370 respectively, so there was no significant difference. Third, the willness to pay amount of the single bounded dichotomous model and the double bounded dichotomous model are estimated to be \8,951 and \6,926 respectively, making a relatively large difference. Fourth, the willness to pay amount of the model without covariates and the model with covariates are estimated to be \9,429 and \8,951, respectively, so the willness to pay amount is underestimated when the covariates are included. Fifth, the Spike model that considers zero payment intention and resistance response estimates \10,405 as the highest payment in this study. Finally, the CVM analysis guidelines proposed by the Korea Development Institute (KDI) are estimated to be \9,749 and \10,405 respectively, depending on including no covariates and with covariates. Compared to other models, the final willness to pay amount is not estimated underestimated. Therefore this study suggests the use of KDI's guidance under government public policy projects. In view of these results, the estimating model for willness to pay amount model will be selected by considering the sample size, the suitability of the model, the sign of the estimated coefficient, the statistical significance, the ratio of the zero payment intention and the payment rejection. And, for CVMs on government public policy projects, it is desirable to estimate by the method proposed by the KDI.

• Journal of the Korean Institute of Landscape Architecture
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• v.38 no.2
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• pp.25-36
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• 2010

The generally known important functions of forests include air purification and the health benefits that humans can receive when relaxing and enjoying recreation in the forests. In recent years, people have appreciated the value of the natural environment but it is not easy to answer the question how much monetary value a natural environment has. Because environmental property is public property, which is not traded on the market, market prices cannot be established, so it is not easy to assess the currency value. Methods for estimating environmental property value have been studied by economists. The representative method for measuring environmental property value is a contingent valuation method, or CVM. Various methods have been researched and attempted along with the development and fusion of mathematics, statistics, and economics. Representative methods of CVM are single-bound and double-bound logit and probit methods. This study has been carried out to compare four estimates. Estimates are as follows: the lowest estimate is derived from a single-bound logit WTPmedian while the highest estimate is from double-bound probit WTPmean. While there are some preceding studies on price estimation and methods of measurement through CVM, they offer only partial comparisons. This study suggests four analytic methods and prices through 1,123 questionnaires. The results can be used for the subsequent comparison of estimate prices and the methods of measurement

• Journal of the Korean housing association
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• v.22 no.4
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• pp.43-50
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• 2011

In an aging society, as the number of people with disabilities increases concerns are raised about the quality of life of these people and their access to a safe environment becomes important. The purpose of this study is to find out the value of accessibility as an attribute of housing. To estimate the value of accessible, barrier-free housing, this study uses the Contingent Valuation Method (CVM) and analyzes the factors which affect the Willingness To Pay (WTP) of survey respondents by using Survival Analysis. In addition, the importance and satisfaction of barrier-free facilities in the dwellings of survey respondents was investigated. Since aging could be an important factor in influencing the need for accessibility, this study surveyed two age groups, one group (212 respondents) of people below the age of 65 and the other (162 respondents) of people above 65. The results of this study show that respondents would pay on average 2.67% more for being barrier-free when answering an open-ended question and 3.87% more for barrier-free housing when using the double referendum model. This is the increase in value that the respondents perceive as a consequence of removing all the architectural barriers from a dwelling. On average, elderly respondents would pay 2.99% of housing price for accessible features compared to 4.40% of the younger group. However, if the elderly who have willingness to pay for accessibility, the value the older group put on barrier-free housing was higher than the value perceived by the younger group. Factors that influence the WTP are importance of barrier-free facilities, education level and housing type. The value of dwellings without barriers estimated in this study shows the potential size and value of this kind of housing market to the housing development sector.

• Journal of Korea Port Economic Association
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• v.39 no.1
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• pp.35-46
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• 2023

This study was conducted to evaluating the willingness to pay for marine leisure ships through a contingent valuation method that can estimate the value of non-market economy. The questionnaire adopted a double-bound dichotomous choice Model and the variables for evaluating the amount of willingness to pay consisted of demographic variables and respondent behavior variables, and related information verified through previous studies. As a result of collecting and analyzing a total of 309 questionnaires, the amount of willingness to pay for marine leisure ships was estimated to be 25,510 won. In addition, significant variables affecting the amount of willingness to pay were the experience of visiting the island, satisfaction with the introduction of new maritime transportation, and intention to revisit the island. Through this study, it can be used as a basis for evaluating the economic value of new maritime transportation by estimating the willingness to pay for marine leisure ships using the contingent valuation method.

• Journal of Navigation and Port Research
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• v.43 no.6
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• pp.475-482
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• 2019

The increase in human use and activity in the oceans is leading to marine pollution and habitat destruction. As a result, in particular, marine animals with a long life cycle and small population are threatened with extinction. Thus, the Korean government designated 11 artificial habitats, such as aquariums and marine museums, as Ex-situ conservation institutions to preserve endangered marine life in 2010. However, studies on the significance and economic value of Ex-situ conservation institutions providing marine life conservation services have not been conducted. Thus, the purpose of this study was to estimate the public's quantitative support for the operation policy of Ex-situ conservation institutions, which is a management method for the protection and propagation of marine animals in Korea. To achieve this, the economic value of the marine animal conservation role of the National Maritime Museum was estimated, operated as an Ex-situ conservation institution for the preservation of green turtles in Korea. By using the representative non-market valuation method for public goods known as the contingent valuation method (CVM), the economic value of the Ex-situ conservation institution (National Maritime Museum) was estimated at approximately 41.8 billion won to a maximum of 78.1 billion won. The results of this study can be applied as basic data for marine animal management policymakers in establishing efficient management plans for endangered marine animals in Korea's coastal waters.

• The Journal of Society for e-Business Studies
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• v.4 no.2
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• pp.41-58
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• 1999

This paper is a study on a model of economic value of transmission speed of Internet Commerce. For this research, this paper searches the factors that influence the transmission speed of Internet and suggests the model for measurement of economic value. The model adopted in this research is CVM(contingent valuation method) using in environment economics and the research area in this paper is concentrated on Internet-based Electronic Commerce. For this purpose, this paper suggests econometrics model that measures customer's payment intention for transmission speed of Internet. This model can be used as the basic tool of feasibility of investment analysis and reasonable pricing on Internet service. For the more, it will be followed empirical study and more careful comprehension for objective validity of this study.

• ETRI Journal
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• v.32 no.1
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• pp.169-171
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• 2010

Even though Internet phone service (IPS) continues to evolve in terms of quality and competitive pricing compared with the public switched telephone network (PSTN), the number of Internet phone subscribers is still low in South Korea. The Korean government decided to apply number portability to the IPS market in 2008. This study expresses its value in monetary terms with a contingent valuation approach. With this methodology, this study investigates the willingness of 316 current PSTN subscribers to pay for IPS, using a specific survey method called double-bounded dichotomous choices, to obtain more accurate data. The results show that the calculated value of Internet phone number portability positively impacts consumer welfare.

• 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.