IDEAS home Printed from https://ideas.repec.org/a/taf/applec/v50y2018i14p1644-1658.html
   My bibliography  Save this article

The public value of improving a weather forecasting system in Korea: a choice experiment study

Author

Listed:
  • Sun-Young Park
  • Seung-Hoon Yoo

Abstract

The Korean government plans to improve the quality of its weather forecasting system in order to increase its public utility. The benefits arising from the implementation of this plan should be measured. To this end, this study applies a choice experiment to four attributes: the update frequency of both short- and medium-range forecasts, and the accuracy of both. A survey of 1000 randomly selected households was undertaken in Korea. In the study results, the marginal willingness-to-pays, respectively, for one more update of the short-range forecast per day, for a 1% increase in the accuracy of the short-range forecast, for changing the update frequency of the medium-range forecast from once a day (reference level) to twice a day, and for a 1% increase in the accuracy of the medium-range forecast as a result of improving the weather forecast service were estimated to be KRW 499.3 (USD 0.45), 108.3 (0.10), 346.5 (0.31), and 80.9 (0.07) per household per month. The findings can provide policy-makers with useful information for both evaluating and planning improvements in the weather forecasting system.

Suggested Citation

  • Sun-Young Park & Seung-Hoon Yoo, 2018. "The public value of improving a weather forecasting system in Korea: a choice experiment study," Applied Economics, Taylor & Francis Journals, vol. 50(14), pages 1644-1658, March.
    • Handle: RePEc:taf:applec:v:50:y:2018:i:14:p:1644-1658
    DOI: 10.1080/00036846.2017.1368995
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/00036846.2017.1368995
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/00036846.2017.1368995?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.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Hyo-Jin Kim & Seul-Ye Lim & Seung-Hoon Yoo, 2020. "The South Korean public’s evaluation of the mix of power generation sources: A choice experiment study," Energy & Environment, , vol. 31(7), pages 1181-1190, November.
    2. Kim, Hyo-Jin & Kim, Ju-Hee & Yoo, Seung-Hoon, 2019. "Social acceptance of offshore wind energy development in South Korea: Results from a choice experiment survey," Renewable and Sustainable Energy Reviews, Elsevier, vol. 113(C), pages 1-1.

    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:applec:v:50:y:2018:i:14:p:1644-1658. 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/RAEC20 .

    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.