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The Conservation Value of Endangered Marine Species: The Case of the Ellobium Chinense
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 Title & Authors
The Conservation Value of Endangered Marine Species: The Case of the Ellobium Chinense
Lim, Seul-Ye; Lee, Chang-Su; Kim, Min-Seop; Yoo, Seung-Hoon;
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This paper attempts to quantitatively assess the conservation value of Ellobium chinense (EC), which belongs to the endangered marine species designated by Ministry of Oceans and Fisheries. To this end, we apply the contingent valuation (CV) method, an economic technique of valuing a non-market goods such as EC. A national survey of randomly selected 1,000 households was administered in order to derive the public's willingness to pay (WTP) for conserving EC. One-and-one-half-bound model was adopted to elicit the WTP responses and a spike model was employed to deal with the zero WTP responses. The results show that the conservation value of EC is estimated to be 2,346 won per household per year that is statistically significant at the 1% level. Expanding the value to the national population gives us an annual value of 43.8 billion won. We can judge that the Korean people are willing to pay a significant amount to conserve EC.
Endangered marine species;Conservation value;Ellobium chinense;Contingent valuation method;Willingness to pay;
 Cited by
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