Abstract
This paper attempts to examine households' willingness to pay (WTP) for ground water pollution improvement which can be used in cost-benefit analysis on the project for developing the soil pollution control technique. We applied a contingent valuation (CV) method to obtain at least a preliminary evaluation of the WTP. The CV survey was rigorously designed to comply with the guidelines for best-practiced CV studies. We surveyed a randomly selected sample of 500 households in Seoul metropolitan area and asked respondents questions in person-to-person interviews about how they would be willing to pay for the program. Respondents overall accepted the contingent market and were willing to contribute a significant amount (1,195 to 1,552 won), on average, per household per year. The aggregate value of the project for developing the soil pollution control technique amounts to approximately 20.3 billion won per year. The household values can be the benefits that ensue from the project and compared with the costs of the program to determine whether the project is economically desirable.
| Translated title of the contribution | Estimation of Household's Willingness to Pay for Ground Water Pollution ImprovementEstimation of Household's Willingness to Pay for Ground Water Pollution Improvement |
|---|---|
| Original language | Korean |
| Pages (from-to) | 835-842 |
| Number of pages | 8 |
| Journal | 한국수자원학회 논문집 |
| Volume | 43 |
| Issue number | 9 |
| DOIs | |
| State | Published - Sep 2010 |