| 초록 |
This paper analyzes economic feasibility of public prevention of insects and diseases in rice sector using a real option approach. This study covers major rice insects and diseases such as bacterial blight, lugens, and striatellus. We analyzes economic feasibility of public prevention over the area of 500 hectare which is the Korea's average size of county. The sensitivity analysis uncovered that public prevention of bacterial blight is not considered to be an economically feasible investment. However, public prevention of other insects and diseases such as blast, lugens, striatellus was found to be an economically feasible investment. The sensitivity analysis also showed that the costs of prevention are vital factors in public prevention investment.
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