This paper seeks to measure the monetary value of technical development in the deep seabed manganese nodule mining by applying the compound option model (COM). The COM is appropriate for the project in terms of its decision-making structure and embedded uncertainty. The estimation results show that the deep seabed mining project has more economic potential than shown by the previously obtained results from the discounted cash flow (DCF) analysis. In addition, it is reasonable to invest in the project taking the various uncertainty factors into consideration, because the ratio of the value to the cost of the project is far higher than one. This information can be utilized in national ocean policy decision-making.
A digital cable broadcasting service is a multimedia broadcasting service that provides high definition and various supplementary services by using digital transmission. Korea implemented a complete digital broadcasting service by 2012. This study applied a choice experiment to investigate consumer preferences, and it calculated the marginal willingness to pay for this service. Moreover, we employed a multinomial probit model to relax the assumption that all respondents have the same preference for attributes being valued. The results suggest that respondents value channels, definition, video-on-demand (VOD) service, pay-per-view (PPV) service, and commerce based on TV (T-commerce). On the other hand, online gaming may be less important as an attribute for digital cable broadcasting service in Korea.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.