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

Title
Train travel passengers' willingness to pay to offset their CO2 emissions in Korea
Authors
임혜진유승훈
Keywords
Voluntary carbon offsets; Contingent valuation; Willingness to pay; One-and-one-half bound dichotomous choice
Issue Date
2014-04
Publisher
Renewable & sustainable energy reviews
Citation
VOL 32, 526-531
Abstract
Due to the upsurge in concerns regarding climate change, the carbon market has been growing more rapidly than ever. Recently, a more innovative and experimental voluntary carbon market has been playing a supplementary role to the compliance market, which is lacking in flexibility and diversity, and has been accounting for an increasingly larger portion of the carbon market. Among the efforts to accumulate data and develop appropriate policies for the 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) to measure the public0s willingness to pay (WTP) for voluntary carbon offsets (VCOs) from railway travel in Korea. Furthermore, in order to enhance the statistical efficiency of the 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.
URI
http://pubs.kist.re.kr/handle/201004/47876
ISSN
13640321
Appears in Collections:
KIST Publication > Article
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