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Measuring the economic benefits of recycling: the case of the waste agricultural film in Korea

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Author Info
Seung-Jun Kwak
Seung-Hoon Yoo
Chan-Jun Kim
Abstract

Recently increase of the waste agricultural film (WAF) raises the loss of the resources and produces the environmental damage in Korea. The Korean government has established the basic plan for increasing the recycling rate and abating the environmental damage. The objective of this paper is to estimate the economic benefits attached to the policy of recycling the WAF using contingent valuation method, aiming to provide policy-makers with useful information to make an informed public decision in recycling the WAF. The overall results show that the respondents well accepted the contingent market and would be willing to pay a significant amount for the proposed policy of recycling the WAF. The mean willingness to pay and the truncated mean willingness to pay per household were 4641 Korean won (US$ 3.6) and 5730 Korean won (US$ 4.4), respectively. Total economic benefits for the population amounted to approximately 14.33 billion Korean won (US$ 11.02 million) per year. This quantitative information can be used in cost-benefit analysis of the policy of recycling the WAF.

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Article provided by Taylor and Francis Journals in its journal Applied Economics.

Volume (Year): 36 (2004)
Issue (Month): 13 (July)
Pages: 1445-1453
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Handle: RePEc:taf:applec:v:36:y:2004:i:13:p:1445-1453

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  1. Krinsky, Itzhak & Robb, A Leslie, 1986. "On Approximating the Statistical Properties of Elasticities," The Review of Economics and Statistics, MIT Press, vol. 68(4), pages 715-19, November. [Downloadable!] (restricted)
  2. Carson, Richard T. & Hanemann, W. Michael, 2006. "Contingent Valuation," Handbook of Environmental Economics, in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 2, chapter 17, pages 821-936 Elsevier. [Downloadable!] (restricted)
  3. Morris Glenn E. & Holthausen Jr. Duncan M., 1994. "The Economics of Household Solid Waste Generation and Disposal," Journal of Environmental Economics and Management, Elsevier, vol. 26(3), pages 215-234, May. [Downloadable!] (restricted)
  4. Hong Seonghoon & Adams Richard M. & Love H. Alan, 1993. "An Economic Analysis of Household Recycling of Solid Wastes: The Case of Portland, Oregon," Journal of Environmental Economics and Management, Elsevier, vol. 25(2), pages 136-146, September. [Downloadable!] (restricted)
  5. Duchin, Faye & Lange, Glenn-Marie, 1998. "Prospects for the recycling of plastics in the United States," Structural Change and Economic Dynamics, Elsevier, vol. 9(3), pages 307-331, September. [Downloadable!] (restricted)
  6. Fullerton, Don & Kinnaman, Thomas C, 1996. "Household Responses to Pricing Garbage by the Bag," American Economic Review, American Economic Association, vol. 86(4), pages 971-84, September. [Downloadable!] (restricted)
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  7. Hornik, Jacob & Cherian, Joseph & Madansky, Michelle & Narayana, Chem, 1995. "Determinants of recycling behavior: A synthesis of research results," The Journal of Socio-Economics, Elsevier, vol. 24(1), pages 105-127. [Downloadable!] (restricted)
  8. Tiller, Kelly H. & Jakus, Paul M. & Park, William M., 1997. "Household Willingness To Pay For Dropoff Recycling," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 22(02), December. [Downloadable!]
  9. Samuel Fankhauser & Richard Tol & DAVID Pearce, 1997. "The Aggregation of Climate Change Damages: a Welfare Theoretic Approach," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 10(3), pages 249-266, October. [Downloadable!] (restricted)
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