Cost-benefit Analysis of a Farmstead-specific Early Warning Service for Agrometeorological Disaster Risk Management
2017
Shim, K.M., National Institute of Agricultural Sciences, RDA, Wanju, Republic of Korea | Jeong, H.K., Korea Rural Economic Institute, Naju, Republic of Korea | Lim, Y.A., Korea Rural Economic Institute, Naju, Republic of Korea | Shin, Y.S., EPINET CO., Ltd., Anyang, Republic of Korea | Kim, Y.S., National Institute of Agricultural Sciences, RDA, Wanju, Republic of Korea | Choi, I.T., National Institute of Agricultural Sciences, RDA, Wanju, Republic of Korea | Jung, M.P., National Institute of Agricultural Sciences, RDA, Wanju, Republic of Korea | Kim, H., National Institute of Agricultural Sciences, RDA, Wanju, Republic of Korea
This study aims to suggest the basics for the implementation of the farmstead-specific early warning system (FEWS) for weather risk management nationwide. A survey by questionnaire was conducted to examine farmer's response, and a cost-benefit analysis was made to examine the effect of the FEWS on the economy. The farmers who volunteered to participate in this survey responded that they were generally satisfied with the FEWS, and that they used it well for farming. Willingness to pay (WTP) for the early warning service was estimated to be 8,833 KRW per month by survey respondents. If the early warning service is extended to nationwide and 50% of farmers use it for six months, then the ratio of benefit to cost will be 2.2, indicating that nationwide expansion of the FEWS is very feasible.
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