Estimating the Preservation Value of Coastal Beach in Samcheok Maengbang of Kangwon Province Using One and One-Half Bounded Dichotomous Choice Contingent Valuation Method

Abstract

The paper is to estimate the preservation value of coastal beaches in Samcheok Maengbang of Kangwon Province using one and one-half bound dichotomous choice question(OOHBDC) of the contingent valuation method. For the reliability and the validity of CVM a survey was conducted for 720 samples by internet panel method, and respondents would be willing to pay for conserving and managing the coastal beach at each bid level, ranging from 2,000~19,000 won per annum and per household for five years. As a result, the yearly willingness-to-pay is estimated to be 11,608.7 won and 8,636.3 won per household without covariates for truncated mean and median, and 11,259.9 won and 8,389.1 won per household with covariates for truncated mean and median, respectively, and the aggregated preservation value is converted to be 726.3~975.5 billion won in a view point of the nation.