@article{ART001610130},
author={김철중 and Myung Gyu,SONG},
title={The Externality of an Unwelcomed Facility on the Nearby Multi-family Houses: A Case Study of Dangin-Ri Power Plant},
journal={Journal of Environmental Impact Assessment},
issn={1225-7184},
year={2011},
volume={20},
number={5},
pages={729-745}
TY - JOUR
AU - 김철중
AU - Myung Gyu,SONG
TI - The Externality of an Unwelcomed Facility on the Nearby Multi-family Houses: A Case Study of Dangin-Ri Power Plant
JO - Journal of Environmental Impact Assessment
PY - 2011
VL - 20
IS - 5
PB - Korean Society Of Environmental Impact Assessment
SP - 729
EP - 745
SN - 1225-7184
AB - The purpose of this paper is to estimate the external diseconomies of an unwelcomed facility on the nearby houses. The facility and the area studied are Dangin-Ri power plant in Mapo-Gu,Seoul and the residential district surrounding it respectively.
The nearby housing prices have been changed according to the time and circumstances of the public announcements about the reconstruction or removal plans of the plant. These price changes are regarded as the capitalized values of the external diseconomies due to the plant.
This study is based on the hedonic price theory in order to estimate the diseconomies in monetary value. The tools for the estimation are four models of multiple regression with the transaction price as the dependant variable and various housing characteristics including the external effects of the plant as the independent variables. The sample analyzed is 833 house transactions for the past 5 years in the research area.
The facts found are as follows; First, the most suitable functional form for the estimation is confirmed to be the linear model. Second, there are significant differences in influence on the housing values among the independent variables, that is, locational characteristics, physical features, and environmental changes with time. Third, the external diseconomy is estimated as ￦80,137,807 in case that the plant would be reconstructed in the underground of the present site, whereon a substitutional public park would be constructed and as ￦59,142,248 in case that the plant would move away.
KW - unwelcomed facility;hedonic price;regression;multi-family house;externality
DO -
UR -
ER -
김철중 and Myung Gyu,SONG. (2011). The Externality of an Unwelcomed Facility on the Nearby Multi-family Houses: A Case Study of Dangin-Ri Power Plant. Journal of Environmental Impact Assessment, 20(5), 729-745.
김철중 and Myung Gyu,SONG. 2011, "The Externality of an Unwelcomed Facility on the Nearby Multi-family Houses: A Case Study of Dangin-Ri Power Plant", Journal of Environmental Impact Assessment, vol.20, no.5 pp.729-745.
김철중, Myung Gyu,SONG "The Externality of an Unwelcomed Facility on the Nearby Multi-family Houses: A Case Study of Dangin-Ri Power Plant" Journal of Environmental Impact Assessment 20.5 pp.729-745 (2011) : 729.
김철중, Myung Gyu,SONG. The Externality of an Unwelcomed Facility on the Nearby Multi-family Houses: A Case Study of Dangin-Ri Power Plant. 2011; 20(5), 729-745.
김철중 and Myung Gyu,SONG. "The Externality of an Unwelcomed Facility on the Nearby Multi-family Houses: A Case Study of Dangin-Ri Power Plant" Journal of Environmental Impact Assessment 20, no.5 (2011) : 729-745.
김철중; Myung Gyu,SONG. The Externality of an Unwelcomed Facility on the Nearby Multi-family Houses: A Case Study of Dangin-Ri Power Plant. Journal of Environmental Impact Assessment, 20(5), 729-745.
김철중; Myung Gyu,SONG. The Externality of an Unwelcomed Facility on the Nearby Multi-family Houses: A Case Study of Dangin-Ri Power Plant. Journal of Environmental Impact Assessment. 2011; 20(5) 729-745.
김철중, Myung Gyu,SONG. The Externality of an Unwelcomed Facility on the Nearby Multi-family Houses: A Case Study of Dangin-Ri Power Plant. 2011; 20(5), 729-745.
김철중 and Myung Gyu,SONG. "The Externality of an Unwelcomed Facility on the Nearby Multi-family Houses: A Case Study of Dangin-Ri Power Plant" Journal of Environmental Impact Assessment 20, no.5 (2011) : 729-745.
