Economic valuation of the aquatic biodiversity conservation in South Korea: Correcting for the endogeneity bias in contingent valuation

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dc.identifier.uri http://dx.doi.org/10.15488/1706
dc.identifier.uri http://www.repo.uni-hannover.de/handle/123456789/1731
dc.contributor.author Choi, Ik-Chang
dc.contributor.author Kim, Hyun No
dc.contributor.author Shin, Hio-Jung
dc.contributor.author Tenhunen, John
dc.contributor.author Nguyen, Trung Thanh
dc.date.accessioned 2017-07-17T07:53:17Z
dc.date.available 2017-07-17T07:53:17Z
dc.date.issued 2017
dc.identifier.citation Choi, I.-C.; Kim, H.N.; Shin, H.-J.; Tenhunen, J.; Nguyen, T.T.: Economic valuation of the aquatic biodiversity conservation in South Korea: Correcting for the endogeneity bias in contingent valuation. In: Sustainability (Switzerland) 9 (2017), Nr. 6, 930. DOI: https://doi.org/10.3390/su9060930
dc.description.abstract In this study, we use the Contingent Valuation (CV) method to estimate households' willingness to pay (WTP) for the aquatic ecosystem health (biodiversity) improvement. This paper extends CV studies by dealing with the endogenous effect of a proxy variable, namely the subjective experience of negative environmental quality changes. The results show that the correction for the endogeneity bias facilitates the efficiency of parameter estimation in the empirical model. The mean WTP per household accounts for around 46.8% (KRW 79.6) of the current water use charge (KRW 170 per cubic meter). The total benefit from conserving the biodiversity is around KRW 198.62 billion. We found several factors that affect households' WTP for fish biodiversity conservation, suggesting the importance of these factors in the formulation of water policies associated with aquatic biodiversity. In addition, the inefficient water management costs should be redistributed to other projects or new programs such as for the fish biodiversity conservation. © 2017 by the authors. eng
dc.description.sponsorship DFG/GRK/1565/1
dc.language.iso eng
dc.publisher Basel : MDPI AG
dc.relation.ispartofseries Sustainability 9 (2017), Nr. 6
dc.rights CC BY 4.0
dc.rights.uri https://creativecommons.org/licenses/by/4.0/
dc.subject Aquatic biodiversity eng
dc.subject Benefit calculation eng
dc.subject Bivariate probit model eng
dc.subject Contingent valuation method eng
dc.subject Endogeneity bias eng
dc.subject Willingness to pay eng
dc.subject.ddc 333,7 | Natürliche Ressourcen, Energie und Umwelt ger
dc.title Economic valuation of the aquatic biodiversity conservation in South Korea: Correcting for the endogeneity bias in contingent valuation
dc.type article
dc.type Text
dc.relation.issn 2071-1050
dc.relation.doi https://doi.org/10.3390/su9060930
dc.bibliographicCitation.issue 6
dc.bibliographicCitation.volume 9
dc.bibliographicCitation.firstPage 930
dc.description.version publishedVersion
tib.accessRights frei zug�nglich


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