Valuation of the Woopo Wetland in Korea: a contingent valuation study

Seung-Jun Kwak, Seung-Hoon Yoo () and Chung-Ki Lee

Environment and Development Economics, 2007, vol. 12, issue 2, 323-328

Abstract: A contingent valuation (CV) method was performed to estimate the conservation value of the Woopo Wetland, Ramsar site, in Korea. The CV survey was rigorously designed to comply with the guidelines for best-practiced CV studies. Respondents overall accepted the hypothetical market and were willing to pay a significant amount (2,731 to 3,960 Korean won = USD 2.10 to 3.05), on average, per household annually to conserve the wetland. These findings have important implications for efforts to consider environmental quality in policy decisions.

Date: 2007
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