earticle

영어

This study employs a Contingent Valuation Method(CVM) to estimate the economic value of environmental conflict resolution(ECR) in Seoul metropolitan area. In doing so, a spike model is used to allow zero responses. The willingness to pay(WTP) for the improvement of ECR is approximately 31,164 won per year and the economic value in Seoul metropolitan area is up to about 260,717 million won in a year. The overall results indicate that ECR has a significant influence on the welfare of people and plays an important role in preserving the environmental in Korea. This study provides policy-makers quantitative information on the ECR policy and the spike model results in easily capturing the bimodality feature of the WTP distribution as expected.