The preservation value of the Bangudae Petroglyphs, the 285th Korean National Treasure

Hyo Yeon Choi; Seung Jun Kwak; Seung Hoon Yoo

doi:10.1016/j.culher.2015.08.005

The preservation value of the Bangudae Petroglyphs, the 285th Korean National Treasure

Hyo Yeon Choi, Seung Jun Kwak, Seung Hoon Yoo

Department of Economics

Research output: Contribution to journal › Article › peer-review

5 Citations (Scopus)

Abstract

This study attempts to assess the economic benefit of preserving the Bangudae Petroglyphs (BP), which is suffering from repetitive submersions by the Sayeon reservoir, a source of the municipal water for Ulsan, Korea. To this end, the contingent valuation (CV) method is applied. Specifically, a combination of one-and-one-half-bound dichotomous choice model and spike model is used to reduce the potential for response bias while maintaining much of its efficiency, and to deal with the zero willingness to pay (WTP) data. Moreover, we consider the scale parameter in the CV model to reflect the geographical heterogeneity between Ulsan area and other Korean areas. The annual mean WTPs per household for the two areas were estimated to be KRW 988 (USD 0.84) and KRW 1833 (USD 1.55), respectively.

Original language	English
Pages (from-to)	380-383
Number of pages	4
Journal	Journal of Cultural Heritage
Volume	18
DOIs	https://doi.org/10.1016/j.culher.2015.08.005
Publication status	Published - 2016 Mar 1

Keywords

Bangudae Petroglyphs
Contingent valuation
Cultural heritage preservation
Scale parameter

ASJC Scopus subject areas

Conservation
Chemistry (miscellaneous)
Archaeology
Materials Science (miscellaneous)
Economics, Econometrics and Finance(all)
Spectroscopy
Computer Science Applications

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10.1016/j.culher.2015.08.005

Cite this

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title = "The preservation value of the Bangudae Petroglyphs, the 285th Korean National Treasure",

abstract = "This study attempts to assess the economic benefit of preserving the Bangudae Petroglyphs (BP), which is suffering from repetitive submersions by the Sayeon reservoir, a source of the municipal water for Ulsan, Korea. To this end, the contingent valuation (CV) method is applied. Specifically, a combination of one-and-one-half-bound dichotomous choice model and spike model is used to reduce the potential for response bias while maintaining much of its efficiency, and to deal with the zero willingness to pay (WTP) data. Moreover, we consider the scale parameter in the CV model to reflect the geographical heterogeneity between Ulsan area and other Korean areas. The annual mean WTPs per household for the two areas were estimated to be KRW 988 (USD 0.84) and KRW 1833 (USD 1.55), respectively.",

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AU - Kwak, Seung Jun

AU - Yoo, Seung Hoon

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Y1 - 2016/3/1

N2 - This study attempts to assess the economic benefit of preserving the Bangudae Petroglyphs (BP), which is suffering from repetitive submersions by the Sayeon reservoir, a source of the municipal water for Ulsan, Korea. To this end, the contingent valuation (CV) method is applied. Specifically, a combination of one-and-one-half-bound dichotomous choice model and spike model is used to reduce the potential for response bias while maintaining much of its efficiency, and to deal with the zero willingness to pay (WTP) data. Moreover, we consider the scale parameter in the CV model to reflect the geographical heterogeneity between Ulsan area and other Korean areas. The annual mean WTPs per household for the two areas were estimated to be KRW 988 (USD 0.84) and KRW 1833 (USD 1.55), respectively.

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KW - Scale parameter

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The preservation value of the Bangudae Petroglyphs, the 285th Korean National Treasure

Abstract

Keywords

ASJC Scopus subject areas

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