scholarly journals Economic Valuation of the Aquatic Biodiversity Conservation in South Korea: Correcting for the Endogeneity Bias in Contingent Valuation

2017 ◽  
Vol 9 (6) ◽  
pp. 930 ◽  
Author(s):  
Ik-Chang Choi ◽  
Hyun Kim ◽  
Hio-Jung Shin ◽  
John Tenhunen ◽  
Trung Nguyen
Keyword(s):  
South Korea ◽  
Contingent Valuation ◽  
Biodiversity Conservation ◽  
Economic Valuation ◽  
Aquatic Biodiversity ◽  
Endogeneity Bias

Economic valuation and the commodification of ecosystem services

2011 ◽  
Vol 35 (5) ◽  
pp. 613-628 ◽  
Author(s):  
Erik Gómez-Baggethun ◽  
Manuel Ruiz-Pérez
Keyword(s):  
Ecosystem Services ◽  
Environmental Policy ◽  
Biodiversity Conservation ◽  
Economic Valuation ◽  
Short Term ◽  
Valuation Of Ecosystem Services ◽  
Equity Of Access ◽  
The Way

In the last decade a growing number of environmental scientists have advocated economic valuation of ecosystem services as a pragmatic short-term strategy to communicate the value of biodiversity in a language that reflects dominant political and economic views. This paper revisits the controversy on economic valuation of ecosystem services in the light of two aspects that are often neglected in ongoing debates. First, the role of the particular institutional setup in which environmental policy and governance is currently embedded in shaping valuation outcomes. Second, the broader economic and sociopolitical processes that have governed the expansion of pricing into previously non-marketed areas of the environment. Our analysis suggests that within the institutional setup and broader sociopolitical processes that have become prominent since the late 1980s economic valuation is likely to pave the way for the commodification of ecosystem services with potentially counterproductive effects in the long term for biodiversity conservation and equity of access to ecosystem services benefits.

scholarly journals Assessing the Preservation of Parks and Natural Protected Areas: A Review of Contingent Valuation Studies

2020 ◽  
Vol 12 (11) ◽  
pp. 4784 ◽  
Author(s):  
George Halkos ◽  
Aikaterini Leonti ◽  
Eleni Sardianou
Keyword(s):  
Contingent Valuation ◽  
Contingent Valuation Method ◽  
Empirical Studies ◽  
Economic Valuation ◽  
Urban Parks ◽  
Pure Oxygen ◽  
Natural Protected Areas ◽  
Goods And Services ◽  
Valuation Method ◽  
Protest Responses

The existence of parks is particularly important and offers many benefits both to the environment and to humans. Parks are recreational spaces, which contribute to the improvement of the microclimate, reduce atmospheric pollution and protect biodiversity. Their importance for the urban environment is even greater because they offer pure oxygen to the city and people feel close to nature in them. The aim of this study is to review studies which took place globally as well as in Greece, relying on the Contingent Valuation Method (CVM) for parks. The reason that this method is used is the valuation of non-market goods and services through the development of a hypothetical market. Additionally, a distinction is made among previous empirical studies depending on the nature of the parks and the country where the survey was conducted, while the disadvantages that must be considered from the use of Contingent Valuation Method are mentioned. According to the findings of the literature review, studies using Contingent Valuation in Greece, particularly in the case of urban parks, are limited. As far as we know, the valuation of existing urban parks has not yet been studied, so this could be a field for further research. The economic valuation of parks in a country like Greece, which suffered with the financial crisis, can lead to conclusions about the value that citizens attribute to parks and the identification of possible protest responses.

scholarly journals Economic Valuation of Reducing Submerged Marine Debris in South Korea

2020 ◽  
Vol 10 (17) ◽  
pp. 6086
Author(s):  
Se-Jun Jin ◽  
Young-Ju Kwon ◽  
Seung-Hoon Yoo
Keyword(s):  
South Korea ◽  
Sea Level ◽  
Statistical Significance ◽  
Economic Valuation ◽  
Economic Value ◽  
Marine Debris ◽  
Dichotomous Choice ◽  
Marine Life ◽  
Additional Information ◽  
The Government

Submerged marine debris (SMD) scattered between sea level and the bottom of the sea damages the habitats of marine life and threatens its growth in South Korea. The collection of SMD is more difficult and expensive than that of coastal and floating debris. The government is trying to achieve a 33% reduction in SMD by 2023 by expanding its collection, which requires huge additional investments and additional information about the economic value or benefits of the reduction. This article seeks to conduct an economic valuation of the reduction by employing contingent valuation (CV), which asks people to indicate their willingness to pay (WTP) for the reduction. A dichotomous choice CV survey was undertaken with 1000 households by a professional survey firm through person-to-person interviews during July 2019. Overall, people understood the CV questions well and reported the WTP responses for a hypothetical market successfully created with CV. Although 37.9% of interviewees stated zero WTP, the average of the yearly household WTP was estimated as 5523 Korean won (KRW) (USD 4.92). This value ensures statistical significance. The population’s WTP for the reduction would be KRW 110.30 billion (USD 99.75 million) per year over the next five years. It was found that the reduction is socially beneficial since the value was greater than the costs involved in the reduction.

scholarly journals Contingent Valuation of Sustainable Integrated Agriculture–Aquaculture Products: The Case of Rice–Fish Farming Systems in South Korea

Agronomy ◽  
2019 ◽  
Vol 9 (10) ◽  
pp. 601 ◽  
Author(s):  
Sangchoul Yi
Keyword(s):  
South Korea ◽  
Social Norms ◽  
Contingent Valuation ◽  
Reasoned Action ◽  
Contingent Valuation Method ◽  
Farming Systems ◽  
Fish Farming ◽  
Consumer Participation ◽  
Estimation Model ◽  
Integrated Agriculture

There has been growing acceptance in Asia that consumer participation in green consumption can lead to sustainable agriculture and aquaculture development. In this context, this study investigates how consumers’ psychological (i.e., attitudes and social norms) and socio-economic characteristics affect their willingness to pay (WTP) for sustainable agricultural products. To this end, the study incorporates attitude and social norms as components of the theory of reasoned action into the contingent valuation method, thereby establishing an estimation model for consumers’ WTP. Based on an online market survey of adults in South Korea from June to July 2018, the results show that consumers’ attitudes and social norms positively affect WTP for the rice and loach produced through integrated agriculture–aquaculture (IAA). However, the variables in the model affect consumers’ WTP differently, depending on the type of IAA product. For IAA rice, both socio-economic (e.g., income) and psychological variables affect WTP. However, in the case of IAA loach, only social norms are statistically significant in affecting consumers’ WTP.

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