Next Article in Journal
Estimating the Contribution of Industry Structure Adjustment to the Carbon Intensity Target: A Case of Guangdong
Previous Article in Journal
The Role of Management Control Systems and Top Teams in Implementing Environmental Sustainability Policies
Article Menu

Export Article

Open AccessArticle
Sustainability 2016, 8(4), 353; doi:10.3390/su8040353

Revealed Preference and Effectiveness of Public Investment in Ecological River Restoration Projects: An Application of the Count Data Model

1
Department of International Economics and Trade, Sunmoon University, Asan 31460, Korea
2
Program in Environmental Technology and Policy, Department of Environmental Engineering, Korea University, Sejong 30019, Korea
*
Author to whom correspondence should be addressed.
Academic Editor: Marc A. Rosen
Received: 1 February 2016 / Revised: 4 April 2016 / Accepted: 5 April 2016 / Published: 12 April 2016
View Full-Text   |   Download PDF [1079 KB, uploaded 12 April 2016]   |  

Abstract

Ecological river restoration projects aim to revitalize healthy and self-sustaining river systems that can provide irreplaceable benefits to human society. Cheonggyecheon and Anyangcheon are two sites of recent river restoration projects in Korea. To assess the economic value of two rivers, count data was collected to conduct the individual travel cost method (ITCM) in this study. Five statistical models such as the Poisson, the negative binomial, the zero-truncated Poisson, the negative binomial, and negative binomial model adjusted for both truncation and endogenous stratification were used in the analysis due to the nature of count data. Empirical results showed that regressors were statistically significant and corresponded to conventional consumer theory. Since collected count data indicated over-dispersion and endogenous stratification, the adjusted Negative Binomial was selected as an optimal model to analyze the recreational value of Cheonggyecheon and Anyangcheon. Estimates of the annual economic value of two river restoration projects were approximately US $170.1 million and US $50.5 million, respectively. View Full-Text
Keywords: consumer welfare; count data model; public investment; river restoration; travel cost method consumer welfare; count data model; public investment; river restoration; travel cost method
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

Scifeed alert for new publications

Never miss any articles matching your research from any publisher
  • Get alerts for new papers matching your research
  • Find out the new papers from selected authors
  • Updated daily for 49'000+ journals and 6000+ publishers
  • Define your Scifeed now

SciFeed Share & Cite This Article

MDPI and ACS Style

Lee, Y.; Kim, H.; Hong, Y. Revealed Preference and Effectiveness of Public Investment in Ecological River Restoration Projects: An Application of the Count Data Model. Sustainability 2016, 8, 353.

Show more citation formats Show less citations formats

Note that from the first issue of 2016, MDPI journals use article numbers instead of page numbers. See further details here.

Related Articles

Article Metrics

Article Access Statistics

1

Comments

[Return to top]
Sustainability EISSN 2071-1050 Published by MDPI AG, Basel, Switzerland RSS E-Mail Table of Contents Alert
Back to Top