【摘要】This study investigates the spatial distribution of economic benefits and costs of an ecological restoration project for an urban branch stream; namely Yeocheon-Cheon in Nam-Gu; Ulsan metropolitan city; South Korea. A contingent valuation method with the one and one-half bounded dichotomous choice model was applied; and a spike model was employed to address zero-WTP responses. First; benefits of the project were not limited to the project site jurisdiction (Nam-Gu) but extended to the whole metropolitan city. Second; the significant negative coefficient of the distance variable indicates the distance decay of WTP for the project. Third; respondents who visited the site showed a significantly higher willingness to pay for the project. Finally; the project was economically profitable and socially desirable from the benefit-cost perspective. However; the cost allocation between jurisdictions was fiscally nonequivalent in terms of the spatial benefit distribution. 

【文献来源】Kim J H;Kim S N;Doh S.Annals of regional Science.2015（3）