Abstract
The investment in basic research is considered as a key to make a leap into the group of world leading countries. The Korean government plans to expand basic research investment of total public R&D up to 35% until 2012. The next generation proton beam accelerator is an important and essential facility that is expected to provide economic impacts by activating research in the field of basic science. One main character of the next generation proton beam accelerator project is that it has non-market value. We adopted CVM (Contingent Valuation Method) to measure the non-market value in this study. This study employed single bound dichotomous choice spike model to avoid the potential response bias and to consider zero responses. The study results indicate that the WTP for the next generation proton beam accelerator project is 1,171 Korean Won per household per month. This study contributes to policy makers with useful framework for estimating non-market values of a basic research project and quantitative information in the decision making process.
Translated title of the contribution | Measuring the Non-market Value of the Next Generation Proton Beam Accelerator Project |
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Original language | Korean |
Pages (from-to) | 15-33 |
Number of pages | 9 |
Journal | 산업경제연구 |
Volume | 23 |
Issue number | 1 |
State | Published - Feb 2010 |