Valuing environmental impacts of large dam construction in Korea: An application of choice experiments

Sang Yong Han, Seung-Jun Kwak, Seung Hoon Yoo

Research output: Contribution to journalArticle

45 Citations (Scopus)

Abstract

This paper measures economic value of multiple environmental impacts of large dam construction as a case study of Korea, using a choice experiment approach. The choice works which consider trade-offs between price and environmental attributes for selecting a preferred option were within respondents' ability, and the marginal willingness-to-pay estimates across the two models were statistically significant. Especially, adding covariates does not significantly change the marginal willingness-to-pay estimates for each attribute. Monthly willingness-to-pay of the typical household for mitigating environmental impacts by large dam construction from the status quo to the highest attribute level is calculated as about 2542 Korean Won (US $ 2.12) and the total willingness-to-pay for the entire population of the study area is annually about 209.9 billion Korean Won (US $ 174.9 million). This study allows us to provide policy-makers with quantitative information that can be useful in the cost-benefit analysis related to large dam construction projects.

Original languageEnglish
Pages (from-to)256-266
Number of pages11
JournalEnvironmental Impact Assessment Review
Volume28
Issue number4-5
DOIs
Publication statusPublished - 2008 May 1

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Keywords

  • Choice experiment approach
  • Dam construction
  • Environmental impacts
  • Multinomial logit model
  • Willingness-to-pay

ASJC Scopus subject areas

  • Renewable Energy, Sustainability and the Environment
  • Environmental Science(all)
  • Management, Monitoring, Policy and Law
  • Geography, Planning and Development

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