Estimating Non-Market Valuation of Natural Tourism Resources(Taejongdae) using DB-DC Contingent Valuation Method

Jung, Oh Hyun; Kim, Jae-Seog; Han Sang-Hyun

Journal of Tourism Sciences

Abbr : JTS
2009, 33(3), pp.391-409
Publisher : The Tourism Sciences Society Of Korea
Research Area : Tourism

Jung, Oh Hyun ¹, Kim, Jae-Seog ², Han Sang-Hyun ³

¹동명대학교
²동명대학교
³동의대학교

ABSTRACT

This study is to evaluate the economic value of Taejongdae, a well known natural resources in Busan, using the Double-bounded dichotomous choice Contingent Valuation Method(CVM). Hanemann's methods were adopted to calculate willingness to pay. Previous researches in Korea had been investigated in order to find out an optimal CVM for the natural resources. Based on the previous researches, not only the relationship between the market scale and the population of the research object but also the variables which had influence on the total amount of willingness to pay were estimated. As a result, the variables which had an effect on the willingness to pay were as follows; the number of annual visit, the visit satisfaction for Taejongdae, the number of family, and the travel time. This study showed that the amount of willingness to pay for Taejongdae was 3,559 Korean Won per person per visit as a non-market value and whole annual non-market value was slightly over 40 million Korean won.
KEYWORDS

Contingent valuation method Non-market value Double-bounded dichotomous choice model Natural tourist resources
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