Assessment of non-market value of Dokdo

Seung Hoon Yoo; Joo Suk Lee; Young Keun Chung

doi:10.4217/OPR.2011.33.3.223

Assessment of non-market value of Dokdo

Seung Hoon Yoo
, Joo Suk Lee
, Young Keun Chung

Dept. of Future Energy Convergence

Research output: Contribution to journal › Article › peer-review

2 Scopus citations

Abstract

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.

Original language	English
Pages (from-to)	223-233
Number of pages	11
Journal	Ocean and Polar Research
Volume	33
Issue number	3
DOIs	https://doi.org/10.4217/OPR.2011.33.3.223
State	Published - 2011

Keywords

Contingent valuation method
Dokdo
Non-market value

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10.4217/OPR.2011.33.3.223

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title = "Assessment of non-market value of Dokdo",

abstract = "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.",

keywords = "Contingent valuation method, Dokdo, Non-market value",

author = "Yoo, \{Seung Hoon\} and Lee, \{Joo Suk\} and Chung, \{Young Keun\}",

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language = "English",

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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 - https://www.scopus.com/pages/publications/80054731405

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DO - 10.4217/OPR.2011.33.3.223

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SN - 1598-141X

VL - 33

SP - 223

EP - 233

JO - Ocean and Polar Research

JF - Ocean and Polar Research

IS - 3

ER -

Assessment of non-market value of Dokdo

Abstract

Keywords

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