IDEAS home Printed from https://ideas.repec.org/a/taf/marpmg/v42y2015i5p516-532.html
   My bibliography  Save this article

Public preference for the attributes of the marina port in Korea: a choice experiment study

Author

Listed:
  • Min-Kyu Lee
  • Seung-Hoon Yoo

Abstract

As of late, the Korean government needs quantitative information on economic feasibility analysis for marina port development projects. This study applies a choice experiment to measure public preference for the attributes of marina port in Korea. We consider the trade-offs between price and four attributes of marina port (capacity, access, waterfront, and program) for selecting a preferred alternative and elicit the marginal willingness to pay (MWTP) estimates for each attribute. We also test whether irrelevant alternatives property for the estimation model holds and compare the estimation results of the multinomial logit (MNL) and the nested logit (NL) models. The results show that the NL model outperforms the MNL model. In the NL model, MWTPs for increasing the level of a waterfront from promenade to both promenade and rest area and for the provision of marine leisure experience program are KRW13 384 (USD11.8) and KRW17 937 (USD15.8), respectively. This study is expected to provide policymakers with quantitative information for evaluating marina port construction projects in Korea.

Suggested Citation

  • Min-Kyu Lee & Seung-Hoon Yoo, 2015. "Public preference for the attributes of the marina port in Korea: a choice experiment study," Maritime Policy & Management, Taylor & Francis Journals, vol. 42(5), pages 516-532, July.
    • Handle: RePEc:taf:marpmg:v:42:y:2015:i:5:p:516-532
    DOI: 10.1080/03088839.2014.928956
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/03088839.2014.928956
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/03088839.2014.928956?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:marpmg:v:42:y:2015:i:5:p:516-532. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/TMPM20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.