TY - JOUR
T1 - Assessment of non-market value of Dokdo
AU - Yoo, Seung Hoon
AU - Lee, Joo Suk
AU - Chung, Young Keun
PY - 2011
Y1 - 2011
N2 - The Korean government has acknowledged the importance of Dokdo Island and has consequently taken various measures for the effective management of it. There has, however, been little quantitative information about the value of Dokdo Island and this study, therefore, attempts to assess the Islands non-market value. To this end, this study estimated the non-market value by MAUT/CVM. The non-market value estimated by MAUT/CVM includes historic value, military value, ecological value, and geological value. According to the results, the values calculated by the price in market is about 10.37 trillion won and the values estimated by MAUT/CVM is about 1.72 trillion won annually.
AB - The Korean government has acknowledged the importance of Dokdo Island and has consequently taken various measures for the effective management of it. There has, however, been little quantitative information about the value of Dokdo Island and this study, therefore, attempts to assess the Islands non-market value. To this end, this study estimated the non-market value by MAUT/CVM. The non-market value estimated by MAUT/CVM includes historic value, military value, ecological value, and geological value. According to the results, the values calculated by the price in market is about 10.37 trillion won and the values estimated by MAUT/CVM is about 1.72 trillion won annually.
KW - Contingent valuation method
KW - Dokdo
KW - Non-market value
UR - http://www.scopus.com/inward/record.url?scp=80054731405&partnerID=8YFLogxK
U2 - 10.4217/OPR.2011.33.3.223
DO - 10.4217/OPR.2011.33.3.223
M3 - Article
AN - SCOPUS:80054731405
SN - 1598-141X
VL - 33
SP - 223
EP - 233
JO - Ocean and Polar Research
JF - Ocean and Polar Research
IS - 3
ER -