Abstract
This paper attempts to quantitatively assess the conservation value of Ellobium chinense (EC), which belongs to the endangered marine species designated by Ministry of Oceans and Fisheries. To this end, we apply the contingent valuation (CV) method, an economic technique of valuing a non-market goods such as EC. A national survey of randomly selected 1,000 households was administered in order to derive the public’s willingness to pay (WTP) for conserving EC. One-and-one-half-bound model was adopted to elicit the WTP responses and a spike model was employed to deal with the zero WTP responses. The results show that the conservation value of EC is estimated to be 2,346 won per household per year that is statistically significant at the 1% level. Expanding the value to the national population gives us an annual value of 43.8 billion won. We can judge that the Korean people are willing to pay a significant amount to conserve EC.
| Translated title of the contribution | The Conservation Value of Endangered Marine Species: The Case of the Ellobium Chinense |
|---|---|
| Original language | Korean |
| Pages (from-to) | 645-655 |
| Number of pages | 11 |
| Journal | 해양환경안전학회지 |
| Volume | 21 |
| Issue number | 6 |
| DOIs | |
| State | Published - Dec 2015 |