Lim, Hea-Jin Yoo, Seung-Hoon 2024-01-20T10:02:59Z 2024-01-20T10:02:59Z 2021-09-05 2014-04 1364-0321 https://pubs.kist.re.kr/handle/201004/126940 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 public's 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. (C) 2014 Elsevier Ltd. All rights reserved. English PERGAMON-ELSEVIER SCIENCE LTD POLICY CHOICE BENEFITS MODEL Train travel passengers' willingness to pay to offset their CO2 emissions in Korea Article 10.1016/j.rser.2014.01.010 1 RENEWABLE & SUSTAINABLE ENERGY REVIEWS, v.32, pp.526 - 531 RENEWABLE & SUSTAINABLE ENERGY REVIEWS 32 526 531 scie scopus 000333728700040 2-s2.0-84893566715 Green & Sustainable Science & Technology Energy & Fuels Science & Technology - Other Topics Energy & Fuels Review POLICY CHOICE BENEFITS MODEL Voluntary carbon offsets Contingent valuation Willingness to pay One-and-one-half bound dichotomous choice