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Assessment of Non-market Value of Dokdo
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  • Journal title : Ocean and Polar Research
  • Volume 33, Issue 3,  2011, pp.223-233
  • Publisher : Korea Institute of Ocean Science & Technology
  • DOI : 10.4217/OPR.2011.33.3.223
 Title & Authors
Assessment of Non-market Value of Dokdo
Yoo, Seung-Hoon; Lee, Joo-Suk; Chung, Young-Keun;
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The Korean government has acknowledged the importance of Dokdo Island and has consequently taken various measures for the effective management of it. There has, however, been little quantitative information about the value of Dokdo Island and this study, therefore, attempts to assess the Islands non-market value. To this end, this study estimated the non-market value by MAUT/CVM. The non-market value estimated by MAUT/CVM includes historic value, military value, ecological value, and geological value. According to the results, the values calculated by the price in market is about 10.37 trillion won and the values estimated by MAUT/CVM is about 1.72 trillion won annually.
contingent valuation method;non-market value;Dokdo;
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