The purpose of this paper is to measure the benefits of conservation of the green belt in the Greater Seoul area by CVM using dichotomous choice with a follow-up elicitation method. According to the government's plan, part of the green belt in the Greater Seoul area is to be freed from green belt designation. The mean willingness-topay(WTP) to conserve the green belt in the current state turns out to be about 7,430 won(95% confidence interval 6,220 - 8,640 won) per household, which amounts to 308 billion won per year for entire population of Seoul. This WTP figure is found to be significantly influenced by level of education, sex, and the variables related to the perception and attitudes of respondents.
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