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Evaluating the Economic Damages to Anglers of the Marine Recreational Charter due to the Herbei Spirit Vessel Oil Spill
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  • Journal title : Ocean and Polar Research
  • Volume 36, Issue 3,  2014, pp.289-302
  • Publisher : Korea Institute of Ocean Science & Technology
  • DOI : 10.4217/OPR.2014.36.3.289
 Title & Authors
Evaluating the Economic Damages to Anglers of the Marine Recreational Charter due to the Herbei Spirit Vessel Oil Spill
Pyo, Heedong;
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This paper aims to evaluate the indirect economic damages to anglers of the marine recreational charter caused by marine pollution associated with the Herbei Spirit vessel, which spilled 12,547 kl of crude oil in Taean coastal areas in December 2007. In order to evaluate the indirect cost to anglers of the charter fishing, consumer surplus for charter fishing is estimated using a Poisson model (PM), a negative binomial model (NBM), a truncated Poisson model (TPM), and a truncated negative binomial model (TNBM), which account for the characteristics of count data (non-negative discrete data), for individual travel cost method (ITCM). Because of over-dispersion problem in PM and TPM, NBM and TNBM are considered to be more appropriate statistically. All parameters such as income, fishing careers, travel cost and catch that are estimated are statistically significant and theoretically valid. Based on TNBM results, consumer surplus per trip and per person was estimated to be 277 thousand won, total consumer surplus per person and per year about 2.3 million won, and the marginal effect of consumer surplus on % changes in catch rate is about 33 thousand won. The consumer surplus was converted into total indirect economic damages for aggregation which are evaluated to be 125 billion won, reflecting the number of anglers and damage rate.
individual travel cost method(ITCM);truncated negative binomial model (TNBM);consumer surplus for recreational sea fishing;indirect economic damages to anglers;over-dispersion;count data;
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