Ocean and Polar Research

Korea Institute of Ocean Science & Technology (한국해양과학기술원)
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The Study on the Value of Restoration Technology for the Marine Environmental Damage Caused by Oil Spill Using CVM

CVM에 의한 유류유출 해양환경 복원기술 가치측정에 관한 연구

  • Hong, Sung-Pyo (Department of Economics, College of Economics and Management Chungnam National University) ;
  • Cho, Sang-Sup (Division of Digital Business Hoseo University) ;
  • Kwon, Suk-Jae (Department of Ocean Policy Research, KORDI) ;
  • Baek, Min-Hee (Department of Economics, College of Economics and Management Chungnam National University)
  • 홍성표 (충남대학교 경상대학 경제학과) ;
  • 조상섭 (호서대학교 디지털비즈니스학부) ;
  • 권석재 (한국해양연구원 해양정책연구실) ;
  • 백민희 (충남대학교 경상대학 경제학과)
  • Received : 2011.03.02
  • Accepted : 2011.03.16
  • Published : 2011.03.30
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Abstract

In this study we examined the economic value of restoration technology for oil spill using contingent value methods. One and one half approach to questionnaires can be taken when analyzing tax payer situations as well as single bound approach. The results of the empirical analysis suggest three conclusions. First, the economic value of the restoration technology considered are estimated to be between 8,439 won to 11,867 won per month. Second, the WTP is estimated differently depending on the approaches, OOHB and SB, and the degrees of difference are very sensitive to the model specifications. This empirical result supports the argument for using interval for the economic value when using CVM. Third, the empirical results may provide useful input to policy authorities attempting to estimate the economic justification of the R&D investment for developing an ocean environmental restoration technology.

Keywords

References

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