Willingness to Pay for the Investment in Facilities for the Transportation Disadvantaged
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This paper reports an investigation into the acceptability of increased government funding for transport infrastructure improvements to help the transportation disadvantaged in South Korea. To do this, we analyze the investment benefits for the transportation disadvantaged by using the contingent valuation (CV) technique, in Korea. The survey was designed rigorously to comply with the guidelines for best-practiced CV studies, and the respondents well accepted the hypothetical market. The mean monthly willingness to pay for the improved transportation infrastructures toward the universal design is 5,726 Korean won per household, and the aggregated value to nationwide scale would then be 1,091.63 billion Korean won per year. The estimation results show how people appraise non-market services of public works, and can be used as quantitative information on the benefits in ex-ante analysis of public transport policy.
Abstract
This paper reports an investigation into the acceptability of increased government funding for transport infrastructure improvements to help the transportation disadvantaged in South Korea. To do this, we analyze the investment benefits for the transportation disadvantaged by using the contingent valuation (CV) technique, in Korea. The survey was designed rigorously to comply with the guidelines for best-practiced CV studies, and the respondents well accepted the hypothetical market. The mean monthly willingness to pay for the improved transportation infrastructures toward the universal design is 5,726 Korean won per household, and the aggregated value to nationwide scale would then be 1,091.63 billion Korean won per year. The estimation results show how people appraise non-market services of public works, and can be used as quantitative information on the benefits in ex-ante analysis of public transport policy.
참고문헌 (23)
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