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Science and Technology of Nuclear Installations
Volume 2016, Article ID 6293758, 9 pages
http://dx.doi.org/10.1155/2016/6293758
Research Article

Analysis of the Relationship between Risk Perception and Willingness to Pay for Nuclear Power Plant Risk Reduction

Department of Nuclear and Quantum Engineering, KAIST, 291 Daehak-ro, Yuseong-gu, Daejeon 305-701, Republic of Korea

Received 21 December 2015; Accepted 25 February 2016

Academic Editor: Eugenijus Ušpuras

Copyright © 2016 Mirae Yun et al. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Abstract

With the adoption of new technologies, more risk is introduced into modern society. Important decisions about new technologies tend to be made by specialists, which can lead to a mismatch of risk perception between citizens and specialists, resulting in high social cost. Using contingent valuation methods, this paper analyzes the relationship between willingness to pay (WTP) and the factors expressed through people’s image of nuclear power plants (NPP), their perception of NPP safety, and how these can be affected by their scientific background level. Results indicate that groups with a high scientific background level tend to have low risk perception level, represented through their image and safety levels. Further, the results show that mean WTP is dependent on scientific background and image levels. It is believed that these results could help decision makers address the mismatch of trust between the public and specialists in terms of new policy.