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The Economic Value Analysis for the Reformation of Public Transportation Service Using Contingent Valuation Method

  • Korean Society and Public Administration
  • Abbr : KSPA
  • 2007, 18(1), pp.177-195
  • Publisher : Seoul Association For Public Administration
  • Research Area : Social Science > Public Administration

Lim, Jung-Hyun 1 고태호 1 Hwang Kyung-soo 1 Yang, Young Chul 1

1제주대학교

Accredited

ABSTRACT

The cost-benefit analyses of public policies have been dealt carelessly in the past due to the difficulty in being able to illustrate the public benefits in monetary value. For an efficient reformative policy for the public transportation to be implemented, the benefits and costs resulting from the policy implementation must first be analyzed. The efficient supply of public goods can be achieved when the marginal cost of public transportation service equals the marginal benefit of the individuals. But the benefits following the reformation of public transportation is a non-market good, which makes its valuation difficult. To solve this problem, this research applies the contingent valuation method (CVM) that measures the value of non-market goods in an attempt to measure the value of the reformation of public transportation service in Jeju region.

Citation status

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