Economic Valuation of Environmentally Friendly Agriculture for Improving Environmental Quality

Abstract

The purpose of this paper is to evaluate the economic valuation on improving the environmental quality of environmentally friendly agriculture by using the dichotomous choice contingent valuation method (DC-CVM). The analytical data were collected from a survey on the willingness to pay for improving the environmental qualities in Hongsung county in Chungnam province. The empirical result shows that environmentally-friendly agriculture has made contributions in improving the environmental qualities with respect to the conservation of water and soil, and species and ecosystem diversity in addition to stimulating agricultural production.

The purpose of this paper is to evaluate the economic valuation on improving the environmental quality of environmentally friendly agriculture by using the dichotomous choice contingent valuation method (DC-CVM). The analytical data were collected from a survey on the willingness to pay for improving the environmental qualities in Hongsung county in Chungnam province. The empirical result shows that environmentally-friendly agriculture has made contributions in improving the environmental qualities with respect to the conservation of water and soil, and species and ecosystem diversity in addition to stimulating agricultural production.