Estimating Accident Risk Response Fund for High-level Radioactive Waste Management Program

This paper aims to estimate a response fund of accident risk for high-level radioactive waste management program in Korea using double bounded dichotomous choice(DBDC) question and spike model of contingent valuation method(CVM). To ensure the reliability and the validity of CVM a survey was conducted for 1,000 samples by internet panel method, and respondents would be willing to pay for its response fund at each bid level, ranging from 2,000~10,000 won per month and per household for five years. As a result, the monthly truncated mean willingness-to-pay(WTP) is estimated to be 7,284~7,328 won and 7,302~7,354 won per household for DBDC and Spike model, which values are quite similar, respectively. and monthly median WTP is 6,248~6,288 won and 6,176~6,219 won per household for DBDC and Spike model, which values are quite different from truncated mean WTP, respectively. The aggregated estimates of WTP for 5 years is converted to be 7.42~8.71 trillion won.