Abstract
There are many contingent valuation (CV) studies to estimate the economic benefits of cultural heritage, but few provided advice on the design of financial products for cultural heritage assets. This paper conducted conjoint and willingness-to-pay (WTP) analyses for providing the design implication of these financial products. We calculated WTP for each attribute. The result of conjoint analysis shows that people prefer a short period of investment, high-expected rate of return and small amount of money invested. Only the amount invested and the rate of return on investment are significant to estimate WTP for these financial products.
| Original language | English |
|---|---|
| Pages (from-to) | 315-320 |
| Number of pages | 6 |
| Journal | Journal of Cultural Heritage |
| Volume | 11 |
| Issue number | 3 |
| DOIs | |
| Publication status | Published - 2010 Jan 1 |
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All Science Journal Classification (ASJC) codes
- Conservation
- Chemistry (miscellaneous)
- Archaeology
- Materials Science (miscellaneous)
- Economics, Econometrics and Finance(all)
- Spectroscopy
- Computer Science Applications
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Designing a business model for financial products for cultural heritage in the Korean market. / Choi, Hee Min; Ko, Bong Hwan; Sohn, So Young.
In: Journal of Cultural Heritage, Vol. 11, No. 3, 01.01.2010, p. 315-320.Research output: Contribution to journal › Article
TY - JOUR
T1 - Designing a business model for financial products for cultural heritage in the Korean market
AU - Choi, Hee Min
AU - Ko, Bong Hwan
AU - Sohn, So Young
PY - 2010/1/1
Y1 - 2010/1/1
N2 - There are many contingent valuation (CV) studies to estimate the economic benefits of cultural heritage, but few provided advice on the design of financial products for cultural heritage assets. This paper conducted conjoint and willingness-to-pay (WTP) analyses for providing the design implication of these financial products. We calculated WTP for each attribute. The result of conjoint analysis shows that people prefer a short period of investment, high-expected rate of return and small amount of money invested. Only the amount invested and the rate of return on investment are significant to estimate WTP for these financial products.
AB - There are many contingent valuation (CV) studies to estimate the economic benefits of cultural heritage, but few provided advice on the design of financial products for cultural heritage assets. This paper conducted conjoint and willingness-to-pay (WTP) analyses for providing the design implication of these financial products. We calculated WTP for each attribute. The result of conjoint analysis shows that people prefer a short period of investment, high-expected rate of return and small amount of money invested. Only the amount invested and the rate of return on investment are significant to estimate WTP for these financial products.
UR - http://www.scopus.com/inward/record.url?scp=77954634885&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=77954634885&partnerID=8YFLogxK
U2 - 10.1016/j.culher.2009.10.008
DO - 10.1016/j.culher.2009.10.008
M3 - Article
AN - SCOPUS:77954634885
VL - 11
SP - 315
EP - 320
JO - Journal of Cultural Heritage
JF - Journal of Cultural Heritage
SN - 1296-2074
IS - 3
ER -