Valuing the Urban Stream Attributes Using Conjoint Analysis Method
Urban streams in metropolitan areas in Korea, which have heretofore conducted only flood control functions, have increasingly attracted attention for their potentials as urban parks or residential open spaces. This study estimates the natural and recreational value of an urban stream as might be obtained through urban stream improvement measures. This study estimates the partial values of natural and recreational attributes of urban streams at various levels. This study uses conjoint analysis as a non market valuation technique, which makes it possible to measure part-worth attribute values of environmental goods and compare the relative importance of each attribute. The findings indicate that the increased natural attribute value derived from transforming existing concrete-encased streams into nature-close streams is about 50 USD per household. The increased recreational attribute value, either by creating a walkway where there is no bank or by expanding facilities to the existing walkway, is about 25 USD per household.