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Measuring the social value of nuclear energy using contingent valuation methodology

Author

Listed:
  • Jun, Eunju
  • Kim, Wonjoon
  • Jeong, Yong Hoon
  • Chang, Soon-Heung
Abstract
As one of the promising energy sources for the next few decades, nuclear energy receives more attention than before as environmental issues become more important and the supply of fossil fuels becomes unstable. One of the reasons for this attention is based on the rapid innovation of nuclear technology which solves many of its technological constraints and safety issues. However, regardless of these rapid innovations, social acceptance for nuclear energy has been relatively low and unchanged. Consequently, the social perception has often been an obstacle to the development and execution of nuclear policy requiring enormous subsidies which are not based on the social value of nuclear energy. Therefore, in this study, we estimate the social value of nuclear energy-consumers’ willingness-to-pay for nuclear energy—using the Contingent Valuation Method (CVM) and suggest that the social value of nuclear energy increases approximately 68.5% with the provision of adequate information about nuclear energy to the public. Consequently, we suggest that the social acceptance management in nuclear policy development is important along with nuclear technology innovation.

Suggested Citation

  • Jun, Eunju & Kim, Wonjoon & Jeong, Yong Hoon & Chang, Soon-Heung, 2009. "Measuring the social value of nuclear energy using contingent valuation methodology," MPRA Paper 49668, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:49668
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    References listed on IDEAS

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    More about this item

    Keywords

    Social Value; Nuclear Energy; CVM; Public Acceptance;
    All these keywords.

    JEL classification:

    • Q0 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General
    • Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy

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