TY - JOUR
T1 - Valuing environmental impacts of large dam construction in Korea
T2 - An application of choice experiments
AU - Han, Sang Yong
AU - Kwak, Seung Jun
AU - Yoo, Seung Hoon
PY - 2008/5
Y1 - 2008/5
N2 - This paper measures economic value of multiple environmental impacts of large dam construction as a case study of Korea, using a choice experiment approach. The choice works which consider trade-offs between price and environmental attributes for selecting a preferred option were within respondents' ability, and the marginal willingness-to-pay estimates across the two models were statistically significant. Especially, adding covariates does not significantly change the marginal willingness-to-pay estimates for each attribute. Monthly willingness-to-pay of the typical household for mitigating environmental impacts by large dam construction from the status quo to the highest attribute level is calculated as about 2542 Korean Won (US $ 2.12) and the total willingness-to-pay for the entire population of the study area is annually about 209.9 billion Korean Won (US $ 174.9 million). This study allows us to provide policy-makers with quantitative information that can be useful in the cost-benefit analysis related to large dam construction projects.
AB - This paper measures economic value of multiple environmental impacts of large dam construction as a case study of Korea, using a choice experiment approach. The choice works which consider trade-offs between price and environmental attributes for selecting a preferred option were within respondents' ability, and the marginal willingness-to-pay estimates across the two models were statistically significant. Especially, adding covariates does not significantly change the marginal willingness-to-pay estimates for each attribute. Monthly willingness-to-pay of the typical household for mitigating environmental impacts by large dam construction from the status quo to the highest attribute level is calculated as about 2542 Korean Won (US $ 2.12) and the total willingness-to-pay for the entire population of the study area is annually about 209.9 billion Korean Won (US $ 174.9 million). This study allows us to provide policy-makers with quantitative information that can be useful in the cost-benefit analysis related to large dam construction projects.
KW - Choice experiment approach
KW - Dam construction
KW - Environmental impacts
KW - Multinomial logit model
KW - Willingness-to-pay
UR - https://www.scopus.com/pages/publications/41949140817
U2 - 10.1016/j.eiar.2007.07.001
DO - 10.1016/j.eiar.2007.07.001
M3 - Article
AN - SCOPUS:41949140817
SN - 0195-9255
VL - 28
SP - 256
EP - 266
JO - Environmental Impact Assessment Review
JF - Environmental Impact Assessment Review
IS - 4-5
ER -
