A study on economic evaluation for pipeline renewal using contingent valuation method and forecasting pipeline burst

K. Kim; M. Kim; S. Choi; J. Koo

doi:10.1016/j.proeng.2014.11.519

A study on economic evaluation for pipeline renewal using contingent valuation method and forecasting pipeline burst

K. Kim, M. Kim, S. Choi, J. Koo

School of Environmental Engineering

Research output: Contribution to journal › Conference article › peer-review

1 Scopus citations

Abstract

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.

Original language	English
Pages (from-to)	870-877
Number of pages	8
Journal	Procedia Engineering
Volume	89
DOIs	https://doi.org/10.1016/j.proeng.2014.11.519
State	Published - 2014
Event	16th International Conference on Water Distribution System Analysis, WDSA 2014 - Bari, Italy Duration: 14 Jul 2014 → 17 Jul 2014

Keywords

Benefit-cost analysis
Confingent valuation method
Economic evaluation
Pipeline renewal
Willingness to pay

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10.1016/j.proeng.2014.11.519

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@article{2071d24126fe499eb33a1e0fd5ac9a46,

title = "A study on economic evaluation for pipeline renewal using contingent valuation method and forecasting pipeline burst",

abstract = "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.",

keywords = "Benefit-cost analysis, Confingent valuation method, Economic evaluation, Pipeline renewal, Willingness to pay",

author = "K. Kim and M. Kim and S. Choi and J. Koo",

note = "Publisher Copyright: {\textcopyright} 2014 Published by Elsevier Ltd.; 16th International Conference on Water Distribution System Analysis, WDSA 2014 ; Conference date: 14-07-2014 Through 17-07-2014",

year = "2014",

doi = "10.1016/j.proeng.2014.11.519",

language = "English",

volume = "89",

pages = "870--877",

journal = "Procedia Engineering",

issn = "1877-7058",

publisher = "Elsevier B.V.",

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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.

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 - https://www.scopus.com/pages/publications/84949133708

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 -

A study on economic evaluation for pipeline renewal using contingent valuation method and forecasting pipeline burst

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Keywords

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