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The Cognitive and Economic Value of a Nuclear Power Plant in Korea

Title
The Cognitive and Economic Value of a Nuclear Power Plant in Korea
Author
이상용
Keywords
Conjoint Analysis; Nuclear Power Plant; Ordered Logistic Regression; Segment Analysis; Willingness to Pay (WTP)
Issue Date
2017-04
Publisher
KOREAN NUCLEAR SOC
Citation
NUCLEAR ENGINEERING AND TECHNOLOGY, v. 49, no. 3, page. 609-620
Abstract
We studied the value of a nuclear power plant by considering Koreans' willingness to pay (WTP) for neutralizing the various problems caused by building and operating a new plant. For this, we used a conjoint analysis and ordered logistic regression. We then compared the WTP estimates between various segment groups. The results revealed that each household was willing to pay an additional 99,677 Korean Won (KRW)/mo on average to resolve the negative impacts from a nuclear plant. Therefore, the yearly cognitive and economic value of a nuclear plant in Korea was about 19 trillion KRW. Through a segment analysis, we found that the more educated, younger, and poorer groups gave higher cognitive values than the less educated, older, and richer groups, respectively. Also, people who lived far from a plant gave higher values than people living near a plant, and people with more knowledge about or interest in nuclear energy gave higher values than people with less knowledge or interest. People who felt that nuclear energy is necessary gave higher values to nuclear energy than those who did not. Our results can be used as bases to set targets for promoting nuclear energy and pursuing a national project of building a nuclear power plant. Copyright (C) 2016, Published by Elsevier Korea LLC on behalf of Korean Nuclear Society.
URI
https://www.sciencedirect.com/science/article/pii/S1738573316302376?via%3Dihubhttps://repository.hanyang.ac.kr/handle/20.500.11754/113811
ISSN
1738-5733
DOI
10.1016/j.net.2016.10.007
Appears in Collections:
GRADUATE SCHOOL OF BUSINESS[S](경영전문대학원) > BUSINESS ADMINISTRATION(경영학과) > Articles
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