Estimating the Economic Value of Improving the Asian Dust Aerosol Model in the Korean Household Sector: A Choice Experiment

Asian dust (AD), a seasonal phenomenon in East Asia, refers to dust winds that blow from inland China and the Gobi Desert. Generally, AD occurs in the spring, but due to climate change and the desertification of AD sources, it has recently started occurring in every season except for midsummer. The...

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Autores principales:	Hye-Min Kim, In-Gyum Kim, Byunghwan Lim, Seung-Hoon Yoo
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	Asian Dust Aerosol Model economic value choice experiment marginal willingness to pay Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
Acceso en línea:	https://doaj.org/article/3a8fcafec5434c8ea2960b6bb7408cf4
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id	oai:doaj.org-article:3a8fcafec5434c8ea2960b6bb7408cf4
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spelling	oai:doaj.org-article:3a8fcafec5434c8ea2960b6bb7408cf42021-11-11T19:42:29ZEstimating the Economic Value of Improving the Asian Dust Aerosol Model in the Korean Household Sector: A Choice Experiment10.3390/su1321120542071-1050https://doaj.org/article/3a8fcafec5434c8ea2960b6bb7408cf42021-11-01T00:00:00Zhttps://www.mdpi.com/2071-1050/13/21/12054https://doaj.org/toc/2071-1050Asian dust (AD), a seasonal phenomenon in East Asia, refers to dust winds that blow from inland China and the Gobi Desert. Generally, AD occurs in the spring, but due to climate change and the desertification of AD sources, it has recently started occurring in every season except for midsummer. The occurrence of AD adversely affects human health and damages various industries. Accordingly, the Korean Meteorological Administration has provided an AD forecast service to minimize damage. The most essential part of providing the AD forecast service is the Asian Dust Aerosol Model (ADAM). This study tries to provide useful information for policymaking and research and development by deriving the economic value of ADAM improvement. To this end, a choice experiment (CE) was applied. The CE can derive the marginal value of or the marginal willingness to pay (MWTP) of improvement in attribute. All the MWTP estimates obtained in this study were statistically significant. The household MWTP estimates for a 1% improvement in ADAM accuracy and a one-level subdividing were obtained as USD 0.04 and USD 0.12 per household. This finding indicates that people have a greater preference for improving AD forecast segmentation than for improving ADAM accuracy.Hye-Min KimIn-Gyum KimByunghwan LimSeung-Hoon YooMDPI AGarticleAsian Dust Aerosol Modeleconomic valuechoice experimentmarginal willingness to payEnvironmental effects of industries and plantsTD194-195Renewable energy sourcesTJ807-830Environmental sciencesGE1-350ENSustainability, Vol 13, Iss 12054, p 12054 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Asian Dust Aerosol Model economic value choice experiment marginal willingness to pay Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
spellingShingle	Asian Dust Aerosol Model economic value choice experiment marginal willingness to pay Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350 Hye-Min Kim In-Gyum Kim Byunghwan Lim Seung-Hoon Yoo Estimating the Economic Value of Improving the Asian Dust Aerosol Model in the Korean Household Sector: A Choice Experiment
description	Asian dust (AD), a seasonal phenomenon in East Asia, refers to dust winds that blow from inland China and the Gobi Desert. Generally, AD occurs in the spring, but due to climate change and the desertification of AD sources, it has recently started occurring in every season except for midsummer. The occurrence of AD adversely affects human health and damages various industries. Accordingly, the Korean Meteorological Administration has provided an AD forecast service to minimize damage. The most essential part of providing the AD forecast service is the Asian Dust Aerosol Model (ADAM). This study tries to provide useful information for policymaking and research and development by deriving the economic value of ADAM improvement. To this end, a choice experiment (CE) was applied. The CE can derive the marginal value of or the marginal willingness to pay (MWTP) of improvement in attribute. All the MWTP estimates obtained in this study were statistically significant. The household MWTP estimates for a 1% improvement in ADAM accuracy and a one-level subdividing were obtained as USD 0.04 and USD 0.12 per household. This finding indicates that people have a greater preference for improving AD forecast segmentation than for improving ADAM accuracy.
format	article
author	Hye-Min Kim In-Gyum Kim Byunghwan Lim Seung-Hoon Yoo
author_facet	Hye-Min Kim In-Gyum Kim Byunghwan Lim Seung-Hoon Yoo
author_sort	Hye-Min Kim
title	Estimating the Economic Value of Improving the Asian Dust Aerosol Model in the Korean Household Sector: A Choice Experiment
title_short	Estimating the Economic Value of Improving the Asian Dust Aerosol Model in the Korean Household Sector: A Choice Experiment
title_full	Estimating the Economic Value of Improving the Asian Dust Aerosol Model in the Korean Household Sector: A Choice Experiment
title_fullStr	Estimating the Economic Value of Improving the Asian Dust Aerosol Model in the Korean Household Sector: A Choice Experiment
title_full_unstemmed	Estimating the Economic Value of Improving the Asian Dust Aerosol Model in the Korean Household Sector: A Choice Experiment
title_sort	estimating the economic value of improving the asian dust aerosol model in the korean household sector: a choice experiment
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/3a8fcafec5434c8ea2960b6bb7408cf4
work_keys_str_mv	AT hyeminkim estimatingtheeconomicvalueofimprovingtheasiandustaerosolmodelinthekoreanhouseholdsectorachoiceexperiment AT ingyumkim estimatingtheeconomicvalueofimprovingtheasiandustaerosolmodelinthekoreanhouseholdsectorachoiceexperiment AT byunghwanlim estimatingtheeconomicvalueofimprovingtheasiandustaerosolmodelinthekoreanhouseholdsectorachoiceexperiment AT seunghoonyoo estimatingtheeconomicvalueofimprovingtheasiandustaerosolmodelinthekoreanhouseholdsectorachoiceexperiment
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Estimating the Economic Value of Improving the Asian Dust Aerosol Model in the Korean Household Sector: A Choice Experiment

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