| Title |
A Comparison Study on Consumers' Preference for Environmental Performance of Residential Building in Korea and Japan - Using Ranking Method and Conjoint Analysis |
| Authors |
Park Min-Sun ; Hagishima Aya ; Chun Chung-Yoon |
| Keywords |
Environmental Performance ; Ranking Method ; Conjoint Analysis |
| Abstract |
The purpose of this study is to determine consumer preferences for the environmental performance of residential buildings by using ranking method and conjoint analysis. Second is to identify consumers’ monetary value through Marginal Willing to Pay. Third is to compare the results of Korea and Japan. A survey was conducted in Seoul, Korea and in Fukuoka, Japan to clarify the preference and monetary value of four selected attributes representing environmental performance. These are reduction of annual heating cost, reduction of CO2 emission, reduction of chemicals emission and home automation. Based on ranking method, reduction of annual heating cost was most preferred and home automation was least preferred in both countries. Based on conjoint analysis, MWTP for four attributes were estimated higher in Japan. In Korea, re-calculated MWTP values corresponding to level 3 were higher than market prices except for home automation, and in Japan, re-calculated MWTP values corresponding to level 3 were higher than market prices except for reduction of CO2 emission. These result can be practically used as basic data in selling houses. |