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Estimating Willingness to Pay for Livestock Industry Support Policies to Solve Livestock's Externality Problems in Korea

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  • Ji, In-Bae
  • Kwon, Oh-Sang
  • Song, Woo-Jin
  • Kim, Jin-Nyeon
  • Lee, Yong-Geon

Abstract

This research examines the externalities of livestock production by classifying them into positive and negative effects and measures the willingness to pay for livestock industry support policy using the CVM. The survey result reveals that 65.4% of the population considers that a positive function of livestock production is more important than its negative function. They are willing to pay 7,495-10,314 won per household every year to expand positive externalities of the livestock production and to reduce its negative externalities. The value of the externalities of livestock production is estimated to be approximately 134.5–185.1 billion won.

Suggested Citation

  • Ji, In-Bae & Kwon, Oh-Sang & Song, Woo-Jin & Kim, Jin-Nyeon & Lee, Yong-Geon, 2014. "Estimating Willingness to Pay for Livestock Industry Support Policies to Solve Livestock's Externality Problems in Korea," Journal of Rural Development/Nongchon-Gyeongje, Korea Rural Economic Institute, vol. 37(4), pages 1-20, December.
    • Handle: RePEc:ags:jordng:200121
    DOI: 10.22004/ag.econ.200121
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    File URL: https://ageconsearch.umn.edu/record/200121/files/37-4-Estimating.pdf
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    References listed on IDEAS

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    1. Alberini Anna, 1995. "Efficiency vs Bias of Willingness-to-Pay Estimates: Bivariate and Interval-Data Models," Journal of Environmental Economics and Management, Elsevier, vol. 29(2), pages 169-180, September.
    2. Cameron Trudy Ann & Quiggin John, 1994. "Estimation Using Contingent Valuation Data from a Dichotomous Choice with Follow-Up Questionnaire," Journal of Environmental Economics and Management, Elsevier, vol. 27(3), pages 218-234, November.
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    Cited by:

    1. Kwideok Han & Jeffrey Vitale & Yong-Geon Lee & Inbae Ji, 2022. "Measuring the Economic Value of the Negative Externality of Livestock Malodor in South Korea," IJERPH, MDPI, vol. 19(15), pages 1-13, August.

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    Keywords

    Livestock Production/Industries;

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