Abstract
Recently, the problem with sustaining local railroads has been actualized as deregulation concerning transportation advances. Moreover, this problem has a big influence on the local administration that faces budget deficit and the resident life that confronts an aging population. The number of railroad users is decreasing because the ratio of car user's is very high in the local city now, so it is doubtful whether the local rail transportation can continue. It goes without saying that the local railroad is one of the most important forms of transportation for the region, but the sizeable subsidy to the railway is a large encumbrance for the local government. Furthermore, the accountability is needed from the local government for such a subsidy delivery in recent years. For such a reason, in this research an economic value of the local railroad (Ueda-Bessio line) is estimated using the CVM and it's evaluated using this value.
