Train travel passengers’ willingness to pay to offset their CO2 emissions in Korea

Train travel passengers’ willingness to pay to offset their CO2 emissions in Korea
Voluntary carbon offsets; Contingent valuation; Willingness to pay; One-and-one-half bound dichotomous choice
Issue Date
2011년 한국정책학회 하계학술대회 및 국제학술대회
Due to the upsurge in concerns regarding climate change, the carbon market has grown more rapidly than ever. Recently more innovative and experimental voluntary carbon market is playing a supplementary role to the compliance market that is wanting in flexibility and diversity, and accounts for an increasingly larger portion of the carbon market. As part of efforts to accumulate data and develop appropriate policies for voluntary carbon market, it is necessary to analyze the benefits of carbon offsets for GHG emissions from railways. This study attempts to apply contingent valuation (CV) for measuring the public’s willingness to pay (WTP) for voluntary carbon offsets (VCOs) from railway travel in Korea. Furthermore, in order to enhance statistical efficiency in WTP estimation and reduce the response effect in the context of WTP elicitation, this study employs a one-and-one-half bound dichotomous choice format. The estimate of the mean WTP for a VCO program for a specific travel distance is estimated to be KRW 1,345 (USD 1.24) per person. This quantitative information can be utilized to develop policies related to mitigating climate change.
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