The Economic Value of the National Meteorological Service in the Korean Household Sector: A Contingent Valuation StudyReportar como inadecuado


The Economic Value of the National Meteorological Service in the Korean Household Sector: A Contingent Valuation Study


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Graduate School of Energy & Environment, Seoul National University of Science and Technology, 232 Gongreung-Ro, Nowon-Gu, Seoul 01811, Korea





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Academic Editor: Marc A. Rosen

Abstract The meteorological service MS in Korea is provided by the Korea Meteorological Administration KMA, a governmental organization. This study attempts to measure the economic value of the national MS in the Korean household sector. Economic theory indicates that the economic value of a service is the area under the demand curve, which is the sum of the actual expenditure and the additional willingness to pay WTP for the service. The actual expenditure is well known, but the additional WTP is not. Thus, we assess the additional WTP for the national MS, conducting a contingent valuation survey of 1000 randomly selected households in Korea in 2014. We use a one-and-one-half-bound dichotomous choice question to derive the WTP responses and apply a spike model to deal with WTP responses of zero. The mean additional WTP per household is computed as KRW 860 USD 0.75 per month and is statistically significant at the 1% level. Given that the monthly expenditure for the MS is KRW 1459 USD 1.26 per household as of 2013, the economic value of the national MS is computed as KRW 2319 USD 2.01 per household per month. Expanding the value to the national population gives us KRW 513.6 billion USD 444.9 million per year. View Full-Text

Keywords: meteorological service; economic value; contingent valuation; willingness to pay; spike model meteorological service; economic value; contingent valuation; willingness to pay; spike model





Autor: So-Yeon Park, Seul-Ye Lim and Seung-Hoon Yoo *

Fuente: http://mdpi.com/



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