Economic valuation of a new meteorological information service: Conjoint analysis for a pollen forecast system

Joong Woo Lee, Jinyong Jang, Kwang Kun Ko, Youngsang Cho

Research output: Contribution to journalArticle

3 Citations (Scopus)

Abstract

This study aims to investigate the public's preferences for and quantitatively measure the economic value of a pollen forecast system, a new meteorological information service, in South Korea. To directly measure the economic value of the pollen forecast system and its attributes in terms of the public's preferences, this study used conjoint analysis and a discrete choice model. In the conjoint survey, seven factors were considered as attributes of the pollen forecast system: the forecast area, forecast interval, information type, forecast period, delivery media, forecast accuracy, and price. Based on survey data from the six largest metropolitan areas in South Korea, the authors estimated people's utility function by a rank-ordered logit model and calculated the relative importance (RI) and marginal willingness to pay (MWTP) for each attribute. People considered price, meaning the additional tax burden, to be the most important attribute, with a relative importance of 42.3%. In descending order of relative importance, price was followed by forecast accuracy, forecast interval, forecast area, forecast period, and information type; these attributes had MWTP values of 0.133, -0.017, 0.098, 0.059, and 0.011 USD month-1, respectively. The results of this study can serve as guidance of government investments in the pollen forecast system and provide an empirical basis for the application of conjoint analysis to economic valuation studies on a wider range of meteorological information services.

Original languageEnglish
Pages (from-to)495-505
Number of pages11
JournalWeather, Climate, and Society
Volume6
Issue number4
DOIs
Publication statusPublished - 2014 Oct

Fingerprint

information service
valuation
pollen
economic value
willingness to pay
economics
South Korea
tax burden
agglomeration area
forecast
analysis
Values
metropolitan area
attribute

All Science Journal Classification (ASJC) codes

  • Global and Planetary Change
  • Social Sciences (miscellaneous)
  • Atmospheric Science

Cite this

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Economic valuation of a new meteorological information service : Conjoint analysis for a pollen forecast system. / Lee, Joong Woo; Jang, Jinyong; Ko, Kwang Kun; Cho, Youngsang.

In: Weather, Climate, and Society, Vol. 6, No. 4, 10.2014, p. 495-505.

Research output: Contribution to journalArticle

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