Designing a business model for financial products for cultural heritage in the Korean market

Hee Min Choi, Bong Hwan Ko, So Young Sohn

Research output: Contribution to journalArticle

1 Citation (Scopus)

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 languageEnglish
Pages (from-to)315-320
Number of pages6
JournalJournal of Cultural Heritage
Volume11
Issue number3
DOIs
Publication statusPublished - 2010 Jan 1

Fingerprint

Industry
Economics
Willingness-to-pay
Business model
Financial products
Cultural heritage
Cultural Heritage
Rate of return
Rate of Return
Return on investment
Economic benefits
Contingent valuation
Conjoint analysis
Assets
Contingent
Conjoint Analysis

All Science Journal Classification (ASJC) codes

  • Conservation
  • Chemistry (miscellaneous)
  • Archaeology
  • Materials Science (miscellaneous)
  • Economics, Econometrics and Finance(all)
  • Spectroscopy
  • Computer Science Applications

Cite this

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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 journalArticle

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