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South Koreans' willingness to pay for Korean unification

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  • Seung-Hoon Yoo

Abstract

This paper analyses the willingness to pay (WTP) of South Koreans for Korean unification. To deal with zero WTP responses given by a large number of people, a mixture model is used. The mean annual WTP for Korean unification is 5765 Korean won (GBP 2.88) per person. The aggregate value to South Koreans would then be 194.62 billion Korean won (GBP 97.31 million) annually.

Suggested Citation

  • Seung-Hoon Yoo, 2004. "South Koreans' willingness to pay for Korean unification," Applied Economics Letters, Taylor & Francis Journals, vol. 11(1), pages 15-19.
    • Handle: RePEc:taf:apeclt:v:11:y:2004:i:1:p:15-19
    DOI: 10.1080/1350485042000187408
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    References listed on IDEAS

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    1. Seung-Hoon Yoo, 2003. "Application of a mixture model to approximate bottled water consumption distribution," Applied Economics Letters, Taylor & Francis Journals, vol. 10(3), pages 181-184.
    2. Werner, Megan, 1999. "Allowing for Zeros in Dichotomous-Choice Contingent-Valuation Models," Journal of Business & Economic Statistics, American Statistical Association, vol. 17(4), pages 479-486, October.
    3. Jasiulewicz, Helena, 1997. "Application of mixture models to approximation of age-at-death distribution," Insurance: Mathematics and Economics, Elsevier, vol. 19(3), pages 237-241, May.
    4. 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 715-719, November.
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    Cited by:

    1. Ruiz Estrada, Mario Arturo & Park, Donghyun, 2008. "Korean unification: How painful and how costly," Journal of Policy Modeling, Elsevier, vol. 30(1), pages 87-100.
    2. Garces-Voisenat, Juan-Pedro & Mukherjee, Zinnia, 2016. "Paying for green energy: The case of the Chilean Patagonia," Journal of Policy Modeling, Elsevier, vol. 38(2), pages 397-414.
    3. Kim, Ju-Hee & Yoo, Seung-Hoon, 2020. "South Koreans’ perspective on assisting the power supply to North Korea: Evidence from a contingent valuation," Energy Policy, Elsevier, vol. 139(C).
    4. Marine Le Gall-Ely, 2009. "Définition, mesure et déterminants du consentement à payer du consommateur : synthèse critique et voies de recherche," Post-Print hal-00522826, HAL.

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