TY - JOUR
T1 - Public's willingness to pay for a marina port in Korea
T2 - A contingent valuation study
AU - Lee, Min Kyu
AU - Yoo, Seung Hoon
N1 - Publisher Copyright:
© 2015 Elsevier Ltd.
PY - 2016/1/1
Y1 - 2016/1/1
N2 - With there being increasing demand for marine leisure activities, the Korean government is looking to carry out marina port development projects. Specifically, the Gogunsan marina port is under consideration for construction in Korea, owing to its development feasibility. This study attempts to estimate the public value of the marina port development project by using the contingent valuation (CV) method. To this end, a CV survey by person-to-person interview was administered to 1000 randomly selected households to elicit their willingness to pay (WTP) for the project. Overall, the respondents accepted the contingent market, and on average, the mean WTP for the project was estimated to be approximately KRW 1840 (USD 1.6) per year per household. The results can be used in policy-makers' decision-making regarding the economic feasibility of constructing the marina port.
AB - With there being increasing demand for marine leisure activities, the Korean government is looking to carry out marina port development projects. Specifically, the Gogunsan marina port is under consideration for construction in Korea, owing to its development feasibility. This study attempts to estimate the public value of the marina port development project by using the contingent valuation (CV) method. To this end, a CV survey by person-to-person interview was administered to 1000 randomly selected households to elicit their willingness to pay (WTP) for the project. Overall, the respondents accepted the contingent market, and on average, the mean WTP for the project was estimated to be approximately KRW 1840 (USD 1.6) per year per household. The results can be used in policy-makers' decision-making regarding the economic feasibility of constructing the marina port.
KW - Contingent valuation
KW - Marina port
KW - Public value
KW - Spike model
KW - Willingness to pay
UR - https://www.scopus.com/pages/publications/84945157265
U2 - 10.1016/j.ocecoaman.2015.10.006
DO - 10.1016/j.ocecoaman.2015.10.006
M3 - Article
AN - SCOPUS:84945157265
SN - 0964-5691
VL - 119
SP - 119
EP - 127
JO - Ocean and Coastal Management
JF - Ocean and Coastal Management
ER -
