Valuing environmental impacts of large dam construction in Korea: An application of choice experiments

Sang Yong Han, Seung Jun Kwak, Seung Hoon Yoo

    Research output: Contribution to journalArticlepeer-review

    72 Citations (Scopus)

    Abstract

    This paper measures economic value of multiple environmental impacts of large dam construction as a case study of Korea, using a choice experiment approach. The choice works which consider trade-offs between price and environmental attributes for selecting a preferred option were within respondents' ability, and the marginal willingness-to-pay estimates across the two models were statistically significant. Especially, adding covariates does not significantly change the marginal willingness-to-pay estimates for each attribute. Monthly willingness-to-pay of the typical household for mitigating environmental impacts by large dam construction from the status quo to the highest attribute level is calculated as about 2542 Korean Won (US $ 2.12) and the total willingness-to-pay for the entire population of the study area is annually about 209.9 billion Korean Won (US $ 174.9 million). This study allows us to provide policy-makers with quantitative information that can be useful in the cost-benefit analysis related to large dam construction projects.

    Original languageEnglish
    Pages (from-to)256-266
    Number of pages11
    JournalEnvironmental Impact Assessment Review
    Volume28
    Issue number4-5
    DOIs
    Publication statusPublished - 2008 May

    Bibliographical note

    Copyright:
    Copyright 2008 Elsevier B.V., All rights reserved.

    Keywords

    • Choice experiment approach
    • Dam construction
    • Environmental impacts
    • Multinomial logit model
    • Willingness-to-pay

    ASJC Scopus subject areas

    • Geography, Planning and Development
    • Ecology
    • Management, Monitoring, Policy and Law

    Fingerprint

    Dive into the research topics of 'Valuing environmental impacts of large dam construction in Korea: An application of choice experiments'. Together they form a unique fingerprint.

    Cite this