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Measuring the social value of nuclear energy using contingent valuation methodology

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  • Jun, Eunju
  • Joon Kim, Won
  • Hoon Jeong, Yong
  • Heung Chang, Soon

Abstract

As one of the promising energy sources for the next few decades, nuclear energy receives more attention than before as environmental issues become more important and the supply of fossil fuels becomes unstable. One of the reasons for this attention is based on the rapid innovation of nuclear technology which solves many of its technological constraints and safety issues. However, regardless of these rapid innovations, social acceptance for nuclear energy has been relatively low and unchanged. Consequently, the social perception has often been an obstacle to the development and execution of nuclear policy requiring enormous subsidies which are not based on the social value of nuclear energy. Therefore, in this study, we estimate the social value of nuclear energy-consumers' willingness-to-pay for nuclear energy--using the Contingent Valuation Method (CVM) and suggest that the social value of nuclear energy increases approximately 68.5% with the provision of adequate information about nuclear energy to the public. Consequently, we suggest that the social acceptance management in nuclear policy development is important along with nuclear technology innovation.

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Bibliographic Info

Article provided by Elsevier in its journal Energy Policy.

Volume (Year): 38 (2010)
Issue (Month): 3 (March)
Pages: 1470-1476

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Handle: RePEc:eee:enepol:v:38:y:2010:i:3:p:1470-1476

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Web page: http://www.elsevier.com/locate/enpol

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Keywords: Contingent valuation method Social value Nuclear energy;

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References

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Citations

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Cited by:
  1. Roh, Seungkook & Kim, Wonjoon, 2014. "How can Korea secure uranium enrichment and spent fuel reprocessing rights?," Energy Policy, Elsevier, vol. 68(C), pages 195-198.
  2. Kim, Younghwan & Kim, Wonjoon & Kim, Minki, 2014. "An international comparative analysis of public acceptance of nuclear energy," Energy Policy, Elsevier, vol. 66(C), pages 475-483.
  3. Liao, Shu-Yi & Tseng, Wei-Chun & Chen, Chi-Chung, 2010. "Eliciting public preference for nuclear energy against the backdrop of global warming," Energy Policy, Elsevier, vol. 38(11), pages 7054-7069, November.
  4. Kim, Younghwan & Kim, Minki & Kim, Wonjoon, 2013. "Effect of the Fukushima nuclear disaster on global public acceptance of nuclear energy," Energy Policy, Elsevier, vol. 61(C), pages 822-828.

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