The purpose of this paper is to valuate an urban neighborhood park which is not facilitated yet by
development size using travel cost method(TCM). Soochang Park located in Daegu Metropolitan City is analyzed for the cases of development area 37,000 ...
The purpose of this paper is to valuate an urban neighborhood park which is not facilitated yet by
development size using travel cost method(TCM). Soochang Park located in Daegu Metropolitan City is analyzed for the cases of development area 37,000 따and it of 14,000m'. After the interviewed survey for the users of parks around the target site, consumer’s surplus was calculated via the price elasticity model. As the result, the value of the urban neighborhood park was estimated to 44 billion W on and 17 billion W on by the size when the consumer’s surplus was calculated by price elasticity model. Even though the valuation of public environmental good is very difficult, it can by very useful for the decision makers to make the public investment decision.