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 language | English |
|---|---|
| Pages (from-to) | 256-266 |
| Number of pages | 11 |
| Journal | Environmental Impact Assessment Review |
| Volume | 28 |
| Issue number | 4-5 |
| DOIs | |
| Publication status | Published - 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