Estimating the WTP for Demand-Responsive Transport Services

Myungsung Ki

Journal of Rural Development/Nongchon-Gyeongje, 2016, vol. 39, issue 3

Abstract: Demand-Responsive Transport (DRT), almost the same with call-taxis, is operated to protect rural villagers’ mobility rights. Currently its pricing is extemporaneous without reasonable ground. To decide its optimal price and subsidy, this study estimates willingness-to-pay of DRT using the Contingent Valuation Method (CVM), based on the case of Jinan-gun, Jeollabuk-do. The average WTP of DRT per person and trip is ₩4,987 when both bus and DRT are serviced at the same time and ₩5,986 when only DRT is serviced. In addition, how socio-economic variables impact people's willingness-to-pay is explored. The results' implications to economic efficiency and efficient pricing are also examined.

Keywords: Community/Rural/Urban; Development (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:ags:jordng:330699

DOI: 10.22004/ag.econ.330699

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