Estimating Willingness to Pay for the Development of a Peace Park Using CVM: The Case of the Korean Demilitarized Zone |
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| Authors: | James W Mjelde Hyesun Kim Tae-Kyun Kim |
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| Institution: | 1. Department of Agricultural Economics, Texas A&2. M University, College Station, Texas, USA;3. College of Hotel and Tourism, Kyung Hee University, Seoul, South Korea;4. Department of Agricultural Economics, Kyungpook National University, Daegu, South Korea |
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| Abstract: | Conflicts remain an integral part in shaping the world. Tensions on the Korean Peninsula are no exceptions. The Korean DMZ (Demilitarized Zone) World Peace Park has been proposed to help obtain peace by erasing the memories of war and creating new beginnings of trust, cooperation, and unity on the Korean Peninsula. With their ties to geographical space and conflict, peace park research provides an excellent platform for both activism and research in positive peace. Little, however, is known about peoples’ willingness to pay (WTP) for the creation of peace parks, in general, and specifically for the development of the Korean DMZ World Peace Park. Using contingent valuation methods, the weighted average WTP for development of the Peace Park is $49.03 per household per year. It appears South Koreans are willing to pay not only for the conservation of the DMZ, but also for the peace and unification of the Korean Peninsula the Peace Park may bring to the area. |
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