THE ENVIRONMENTAL VALUE OF SOUTH KOREA’S MOUNTAINS: A CONTINGENT VALUATION STUDY

To address the lack of awareness on environmental values, this study estimates the environmental value of mountain ranges (Jeongmaek) connected to the Baekdudaegan mountain system in South Korea. Seven Jeongmaek are studied during 2011–2016 using a questionnaire survey and the contingent valuation m...

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Published inSingapore economic review Vol. 65; no. 6; pp. 1389 - 1400
Main Authors KIM, DONG-PIL, KANG, KEE-RAE, LEE, HAE-JOO, KIM, HEE-CHAE, LEE, WOO-SUNG, CHUNG, BO-KWANG, CHAE, SU-BOK, KIM, CHA-KWON
Format Journal Article
LanguageEnglish
Published Singapore World Scientific Publishing Company 01.12.2020
World Scientific Publishing Co. Pte Ltd
World Scientific Publishing Co. Pte., Ltd
Subjects
Biodiversity
Contingent valuation
Economic theory
Mountains
Property values
Valuation
Willingness to pay
Environmental goods
environmental value
willingness to pay
CVM
public goods
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Summary:To address the lack of awareness on environmental values, this study estimates the environmental value of mountain ranges (Jeongmaek) connected to the Baekdudaegan mountain system in South Korea. Seven Jeongmaek are studied during 2011–2016 using a questionnaire survey and the contingent valuation method. Based on willingness to pay (WTP) for biodiversity, this study finds that the lowest estimated WTP was KRW 5813 for Geumbuk and Hannam-Geumbuk Jeongmaek, and the highest value was KRW 120,471 for Hanbuk Jeongmaek. These differences in WTP appear to be significantly determined by education level and number of visits of respondents.
ISSN:0217-5908
1793-6837
DOI:10.1142/S0217590820500459