TY - JOUR
T1 - A study on economic evaluation for pipeline renewal using contingent valuation method and forecasting pipeline burst
AU - Kim, K.
AU - Kim, M.
AU - Choi, S.
AU - Koo, J.
N1 - Publisher Copyright:
© 2014 Published by Elsevier Ltd.
PY - 2014
Y1 - 2014
N2 - In Korea, the percentage of pipelines more than 21 years old is reaching 22.7% and the demand for renewal will increase rapidly. This study is intended to determine the validation of renewal through Contingent Valuation Method (CVM) and through the estimation of pipeline burst in the future. Considering calculated benefit and cost, analysis period and social discount rate, the benefit/cost ratio is calculated and the result of B/C value is 1.004. Since the ratio of benefit/cost is bigger than 1.0, pipeline renewal with rehabilitation and double-piping is financially validated in this study.
AB - In Korea, the percentage of pipelines more than 21 years old is reaching 22.7% and the demand for renewal will increase rapidly. This study is intended to determine the validation of renewal through Contingent Valuation Method (CVM) and through the estimation of pipeline burst in the future. Considering calculated benefit and cost, analysis period and social discount rate, the benefit/cost ratio is calculated and the result of B/C value is 1.004. Since the ratio of benefit/cost is bigger than 1.0, pipeline renewal with rehabilitation and double-piping is financially validated in this study.
KW - Benefit-cost analysis
KW - Confingent valuation method
KW - Economic evaluation
KW - Pipeline renewal
KW - Willingness to pay
UR - http://www.scopus.com/inward/record.url?scp=84949133708&partnerID=8YFLogxK
U2 - 10.1016/j.proeng.2014.11.519
DO - 10.1016/j.proeng.2014.11.519
M3 - Conference article
AN - SCOPUS:84949133708
SN - 1877-7058
VL - 89
SP - 870
EP - 877
JO - Procedia Engineering
JF - Procedia Engineering
T2 - 16th International Conference on Water Distribution System Analysis, WDSA 2014
Y2 - 14 July 2014 through 17 July 2014
ER -