Search

Consumers frequently receive refunds from prior purchases. In this research, we examine if money refunded from previous purchases is more likely to be spent than money that does not go through a refund process. Across nine pre-registered studies, we test how consumers' willingness to spend depends on the transaction history of their money. We find that, when people receive a refund and do not need to replace the originally purchased item, they are more likely to spend the refunded money on a discretionary purchase than they are to spend non-refunded money that is otherwise identical. We suggest that this pattern arises because refunded money is earmarked as "spending money" at the time of the initial purchase and then retains that earmark even after the refund is issued. When refunds arrive, therefore, they seem free from obligations and easy to spend. This research documents the psychology of purchase refunds, a topic largely unaddressed in the mental accounting literature to date. [ABSTRACT FROM AUTHOR]

Willingness to pay (WTP) is a metric that is widely valued and utilized among both practitioners and academics. However, the conceptualization of WTP is ambiguous, and this ambiguity is reflected across existing methods of measuring WTP. The authors first present a formal mathematical framework that clarifies WTP as a distributional concept—rather than a single number—constructed as a function of customers, comparisons, and situations. The framework further reveals the operation of two comparative mechanisms, direct and indirect, by which situational factors affect WTP. They then introduce a new method to measure WTP—the comparative method of valuation (CMV)—that, unlike existing methods, is designed to account for the inherently comparative and situational nature of WTP. Across nine studies reported in the article and four additional studies in the Web Appendix, the authors (1) examine differences in results between CMV and choice-based conjoint as well as between CMV and the classic Becker–DeGroot–Marschak methodology, (2) demonstrate that CMV is a valid and reliable measure of WTP, and (3) illustrate applications of CMV to managerial problems. This article offers both conceptual clarity and methodological advances to understanding the construction and measurement of WTP for practitioners and academics alike. [ABSTRACT FROM AUTHOR]

Although consumers often value minimalist aesthetics, little work has examined why and when simple packaging designs of consumable products enhance consumer outcomes. The authors theorize that simple packaging evokes a symbolic association whereby minimizing design complexity signals that the product contains few ingredients, which increases perceived product purity and willingness to pay (WTP). A field study examining a supermarket chain's product packages (N = 1,353) provided preliminary support for this increase in WTP and two boundary conditions. Six preregistered studies replicated these effects and tested the underlying process. Studies 1a and 1b showed that the increase in WTP for simple packaging is driven by few-ingredients inferences increasing perceived product purity. Study 2 demonstrated the increase in WTP using an incentive-compatible design. Study 3 reinforced the proposed process via moderated mediation. Lastly, Studies 4 and 5 tested the boundary conditions in the field study, showing that WTP for simple packaging decreases when the product is from a store (vs. nonstore) brand and when consumers have an indulgence (vs. health) goal. These findings offer theoretical and managerial insight into minimalist aesthetics. [ABSTRACT FROM AUTHOR]

In this research, the authors examine how consumers perceive the fruits of university–industry collaborations (i.e., new products codeveloped with universities). Eight studies document a positive university effect and highlight its practical significance and boundary conditions. An Instagram A/B test utilizing a video that refers (vs. does not refer) to the underlying university–industry collaboration results in higher click-through rates and ad engagement levels. Another field study demonstrates that university-codeveloped products are more attractive to consumers, even after an actual product trial. Further, several consequential studies reveal that consumers are willing to pay up to 65% more for products marketed as codeveloped with a university. The authors argue and show that collaborating with a university infuses the underlying firm with a stronger sense of scientific legitimacy, thereby making the resulting product more attractive to consumers. Congruously, the authors find that the effect is more pronounced when the scientific legitimacy engendered by universities is more important to the focal product (i.e., high tech vs. low tech), underlying company (i.e., new vs. established), or target customer (i.e., high vs. low belief in science). [ABSTRACT FROM AUTHOR]

Packaging waste makes up more than 10% of the landfilled waste in the United States. While consumers often want to make environmentally friendly product choices, we find that their perceptions of the environmental friendliness of product packaging may systematically deviate from its objective environmental friendliness. Eight studies (N = 4,103) document the perceived environmental friendliness (PEF) bias whereby consumers judge plastic packaging with additional paper to be more environmentally friendly than identical plastic packaging without the paper. The PEF bias is driven by consumers' "paper = good, plastic = bad" beliefs and by proportional reasoning, wherein packaging with a greater paper-to-plastic proportion is judged as more environmentally friendly. We further show that the PEF bias impacts consumers' willingness to pay and product choice. Importantly, this bias can be mitigated by a "minimal packaging sticker" intervention, which increases the environmental friendliness perceptions of plastic-only packaging, rendering plastic-packaged products to be preferable to their plastic-plus-paper-packaged counterparts. This research contributes to the packaging literature in marketing and to research on sustainability while offering practical implications for managers and public policy officials. [ABSTRACT FROM AUTHOR]

Hospital quality ratings are widely available to help Medicare beneficiaries make an informed choice about where to receive care. However, how beneficiaries trade-off between different quality domains (clinical outcomes, patient experience, safety, efficiency) and other considerations (out-of-pocket cost, travel distance) is not well understood. We sought to study how beneficiaries make trade-offs when choosing a hypothetical hospital. We administered an online survey that included a discrete choice experiment to a nationally representative sample of 1025 Medicare beneficiaries. On average, beneficiaries were willing to pay $1698 more for a hospital with a 1-star higher rating on clinical outcomes. This was over twice the value of the patient experience ($691) and safety ($615) domains and nearly 8 times the value of the efficiency domain ($218). We also found that the value of a 1-star improvement depends not only on the quality domain but also the baseline level of performance of the hospital. Generally, it is more valuable for low-performing hospitals to achieve average performance than for average hospitals to achieve excellence.

Accelerating antiglobalization challenges previously undisputed assumptions about the importance of a product's globalness/localness in purchase decisions. Putting these assumptions to test, this article conceptualizes globalness/localness as a distinct product attribute and decomposes its utility into weight and preference components. Subsequently, it offers an equity-theory-based prediction of the attribute's declining relevance/trivialization and quantifies its trade-offs with other attributes by calculating global/local price premiums. Conjoint experiments in two countries (Austria and India) reveal that (1) emerging- (developed-) market consumers exhibit relative preference for global (local) products, (2) emerging-market consumers perceive higher preference inequity between global and local products than developed-market consumers, and (3) the corresponding inequity triggers consumers' cognitive inequity regulation (manifested through attribute trivialization in developed markets) and behavioral inequity regulation (manifested through asymmetrical willingness to pay for global/local products across developed/emerging markets). In addition, attribute trivialization and price premium tolerance are moderated by consumers' spatial identities and price segment. The findings contribute to the theoretical debate on the relevance of product globalness/localness in deglobalizing times and inform competitive strategies; segmentation, targeting, and positioning; and international pricing decisions. [ABSTRACT FROM AUTHOR]

We analyze a Taiwanese theatre company's ticket sales from 2008 to 2012 to investigate whether a consumer's willingness to pay for a ticket was affected by the company's disclosure of sales information (sales outcome). Sales are stratified by price band in order to understand the unique demand of each price bracket. We hypothesize that the sales outcome of a price band has a positive effect on the willingness to pay for a ticket in that price band, but that effect from other price bands is negative. Our findings support this hypothesis using the historical data of ticket sales from a Taiwanese theater. We also find that the sales speed decreases when the length of selling period becomes longer. [ABSTRACT FROM AUTHOR]

When eliciting consumer preferences for controversial products – an increasing number of which exist due to increasing demographic diversity and political polarization – conventional assumptions that all individuals derive positive marginal utility from consumption are challenged. It is relatively easy to adjust hypothetical stated preference questionnaires to include negative willingness to pay (WTP), but few studies on controversial products investigate how individuals behave using incentive-compatible revealed preference techniques. Using a framed field experiment with 292 adult subjects, we fill this gap by comparing the differences and similarities between a set of results that arise from the Becker-DeGroot-Marschak (BDM) mechanism between WTP versus willingness to accept (WTA) elicitation methods. This study has two main findings. First, in economic experiments eliciting preferences for controversial products, neither the WTP nor the WTA method fully discovers the true valuation range across all participants. Second, despite framing effects that give rise to different bid distributions, relative revealed preferences for the examined products are consistent under various interventions, indicating that WTP and WTA estimates have consistent policy implications. [ABSTRACT FROM AUTHOR]

With increasing competition in the food franchise industry, the success of a franchise operation depends on its ability to instigate franchisee patronage. This study focuses on franchisor characteristics that help in creating positive behavioural outcomes. Partial least squares structural equation modelling (PLS-SEM) using SmartPLS software is used to analyze 266 U.S. food franchisees. Findings show the relative impact of franchisee evaluation of information quality, service quality, rewards and recognition, and customization on perceived value. Also, positive perceived value in franchisees influences their willingness to pay a premium and their referrer intentions towards franchise brands. Multigroup analysis using demographic characteristics shows that the impacts of information quality and service quality on perceived value are higher in male and older franchisees than in female and younger franchisees. In contrast, the effect of customization on perceived value is greater in female and younger franchisees. This study provides insights to develop business strategies. [ABSTRACT FROM AUTHOR]

Ecological restoration effectively improves the quality of the marine ecological environment and subsequently enhances the public's sense of enjoyment and well‐being. The main objective of this paper is to assess the public's preferences regarding ecological restoration attributes and quantify the extent to which ecological restoration meets the public's needs for coastal enjoyment in Jiaozhou Bay, China. The choice experiment (CE) method was used to obtain the public preferences. To correct for the potential bias caused by non‐compensatory choice behavior in CE, the study utilizes an independent availability logit (IAL) model. The results indicate that the attributes of bay ecological restoration, including nearshore water quality, coastal landscape, coastal space, and marine biodiversity, significantly and positively influence residents' utility levels. The public's willingness to pay (WTP) for improving water quality, restoring marine biological resources, increasing coastal space, and enhancing coastal landscapes in bay ecological restoration is 92.02 Chinese Yuan (CNY), 51.80 CNY, 36.60 CNY, and 31.89 CNY per household, respectively. Based on these findings, the total WTP for ecological restoration in Jiaozhou Bay is 1.54 billion CNY annually. Through comparative analysis of the estimation results between the IAL model and traditional choice models, it is found that the IAL model helps correct non‐compensatory choice bias in CE. The conclusions of this study can provide data support for the formulation of policies on bay ecological restoration and governance as well as a reference for improving the accuracy and validity of CE valuation. [ABSTRACT FROM AUTHOR]

This study aimed to (1) estimate patients' willingness to pay (WTP) for remote monitoring (RM) and patient self-measurement (PSM) for pregnant women at risk of gestational hypertensive disorders, (2) assess the impact of experience with these technologies on WTP, and (3) determine their impact on health-related quality of life (HRQoL). Data collection was part of a multicentric randomized controlled trial, Pregnancy Remote Monitoring II, with 2 interventions: RM and PSM. A contingent valuation survey, combining a payment card and open-ended question, was completed twice by 199 participants. Two-part models analyze the impact of experience on WTP, regression models estimated using ordinary least squares the impact of RM and PSM on HRQoL. The mean WTP amount was approximately €120 for RM and €80 for PSM. Compared with having no experience, WTP RM was €63 higher after a long-term exposure to RM (P =.01) and WTP PSM was €26 lower after a short-term exposure to RM (P =.07). No significant impact of RM or PSM on HRQoL was found. This study contributes to the discussion on the impact of experience on WTP. Those who had a long-term experience with RM, were willing to pay more for RM than those without experience. This confirms our hypothesis that involving patients without experience with the valued treatment, possibly underestimates WTP. A long-term experience has, however, no impact on the WTP for technologies for which the potential benefits are apparent without experiencing them, such as PSM. • Remote monitoring (RM) and patient self-measurement (PSM) are 2 emerging technologies enabling blood pressure monitoring at home. Existing evidence suggests that these new technologies can have a positive impact on the conventional maternal-fetal outcomes (eg, admission and gestational age) in the context of gestational hypertensive disorders (GHDs). • This study determined the willingness to pay (WTP) for RM and PSM for women at risk of GHD, revealing that they had, on average, a higher WTP for RM and PSM than for conventional care. Furthermore, this study assessed the impact of experience with these technologies on the corresponding WTP and found that experience can have a positive impact on WTP for technologies for which imagining the benefits without experiencing them is difficult, such as RM. • This study also assessed the impact of RM and PSM for women at risk of GHD on health-related quality of life and yet found no significant impact. [ABSTRACT FROM AUTHOR]

Informal care represents a significant cost driver in dementia but monetizing informal care hours to inform cost-of-illness or economic evaluation studies remains a challenge. This study aimed to use a discrete choice experiment to estimate the value of informal care time provided to people with dementia in Australia accounting for positive and negative impacts of caregiving. Attributes and levels were derived from a literature review, interviews with carers, and advice received from an advisory group. Attributes included 4 positive and negative caregiving experiences, in addition to "hours of care provided" and the "monetary compensation from the government." A D-efficient design was constructed with 2 generic alternatives that represented hypothetical informal caregiving situations. The discrete choice experiment survey was administered online to a representative sample of the Australian general population and a group of informal carers of people with dementia. The willingness to accept estimates were calculated for the 2 samples separately using the mixed logit model in the willingness to pay space. Based on 700 respondents included in the analysis (n = 488 general public, n = 212 informal carers), the mean willingness to accept for an additional hour of informal care, corrected for the positive and negative impacts of informal care, was $21 (95% CI 18-23) for the general public and $20 (95% CI 16-25) for the informal carers sample. The estimates generated in this study can be used to inform future cost-of-illness studies and economic evaluations, ensuring that informal care time is considered in future policy and funding decisions. • Informal care represents a significant cost driver in dementia but monetizing informal care hours to inform cost-of-illness or economic evaluation studies remains a challenge. • This study estimated a monetary value of informal care time of $21 per hour, corrected for the positive and negative impacts of caring for a person with dementia. • This estimate can be used to inform future cost-of-illness studies and economic evaluations, ensuring that informal care time is considered in future policy and funding decisions. [ABSTRACT FROM AUTHOR]

The impact of COVID-19 restrictions on restaurant consumer behavior remains largely unexplored. The current paper examined how adherence to COVID-19 restrictions impacts willingness-to-pay by restaurant consumers. We examined the results of a survey of 634 participants with choice-based conjoint analysis. The results found that employees in masks, customers in masks, and seating capacity significantly impacted willingness-to-pay by restaurant consumers. Employees in masks had the largest increase on WTP while employees not wearing masks had the largest decrease on WTP. Additionally, consumers dining behavior and changes based on COVID-19 restrictions were the most accurate predictors of their post-vaccine dining behavior. [ABSTRACT FROM AUTHOR]

Objective: This study analyzes the potential cost-effectiveness of integrating an artificial intelligence (AI)–assisted system into the differentiation of incidental renal lesions as benign or malignant on MR images during follow-up. Materials and methods: For estimation of quality-adjusted life years (QALYs) and lifetime costs, a decision model was created, including the MRI strategy and MRI + AI strategy. Model input parameters were derived from recent literature. Willingness to pay (WTP) was set to $100,000/QALY. Costs of $0 for the AI were assumed in the base-case scenario. Model uncertainty and costs of the AI system were assessed using deterministic and probabilistic sensitivity analysis. Results: Average total costs were at $8054 for the MRI strategy and $7939 for additional use of an AI-based algorithm. The model yielded a cumulative effectiveness of 8.76 QALYs for the MRI strategy and of 8.77 for the MRI + AI strategy. The economically dominant strategy was MRI + AI. Deterministic and probabilistic sensitivity analysis showed high robustness of the model with the incremental cost-effectiveness ratio (ICER), which represents the incremental cost associated with one additional QALY gained, remaining below the WTP for variation of the input parameters. If increasing costs for the algorithm, the ICER of $0/QALY was exceeded at $115, and the defined WTP was exceeded at $667 for the use of the AI. Conclusions: This analysis, rooted in assumptions, suggests that the additional use of an AI-based algorithm may be a potentially cost-effective alternative in the differentiation of incidental renal lesions using MRI and needs to be confirmed in the future. Clinical relevance statement: These results hint at AI's the potential impact on diagnosing renal masses. While the current study urges careful interpretation, ongoing research is essential to confirm and seamlessly integrate AI into clinical practice, ensuring its efficacy in routine diagnostics. Key Points: • This is a model-based study using data from literature where AI has been applied in the diagnostic workup of incidental renal lesions. • MRI + AI has the potential to be a cost-effective alternative in the differentiation of incidental renal lesions. • The additional use of AI can reduce costs in the diagnostic workup of incidental renal lesions. [ABSTRACT FROM AUTHOR]

This study explores asymmetric preferences in route switching behavior on intercity travel. A reference-dependent travel choice model reflecting the endowment effect is empirically compared with the classical symmetric travel choice model to investigate the significance of the reference-dependency. Based on the application to stated preference data, our results reveal that the reference-dependent travel choice model outperforms the classical symmetric travel choice model in route switching decision, indicating the significant disparities between WTA and WTP. It implies that policy making based on the results of the classical symmetric model assuming equivalent WTA and WTP could lead to the overestimation of switching demand. Furthermore, our results show that drivers are more heterogeneous in terms of WTA than WTP. Moreover, our applications of the latent class mixed logit structure indicate that most of the responded drivers show reference-dependency in route switching decision. Our findings in this study are essential in transport network policy making. • Proposing of a reference dependent RUM model reflecting endowment effect. • Analysis of disparities between WTA and WTP caused by asymmetric preferences in route switching behavior on intercity travel. • Design of face-to-face stated preference survey in route switching decision. • Application of advanced latent class mixed logit structure to better understand drivers' heterogeneity. [ABSTRACT FROM AUTHOR]

Objectives: Invasive meningococcal disease, an uncommon but severe disease, imposes catastrophic health and economic burdens. Cost–utility analysis (CUA) assumes separability in lifetime health and economic variables and cannot capture the full value of preventing such burdens. We overcome these limitations with a retrospective societal perspective cost–benefit analysis (CBA) of meningococcal serogroup B vaccination (4CMenB) of one infant cohort in the United Kingdom using a health-augmented lifecycle model (HALM) incorporating health's interactions with consumption, earnings, non-market time and financial risk. Methods: We used a static Markov model of vaccination's health impact and an HALM to estimate the private willingness to pay (PWTP) for the intrinsic and instrumental value of health under perfect capital markets, financial risk protection in the absence of insurance against permanent disability, parental spillovers, and acute phase disability. We estimated social WTP (SWTP) incorporating social severity preferences. We estimated rates of return that inform health payer reimbursement decisions, finance ministry budgeting decisions, and legislature taxation decisions. An expert Advisory Board investigated the validity of applying the HALM to infant 4CMenB. Results: The PWTP for a 2 + 1 vaccination schedule is £395, comprising £166 of disability insurance value, £79 of positive parental spillover value, £28 in the value of averting acute phase disability, and £122 in residual intrinsic and instrumental value of health. SWTP is £969. Conclusions: HALM-based CBA provides an empirically richer, more utility–theoretically grounded approach to vaccine evaluation than CUA, demonstrating good value for money for legislatures (based on private values) and for all decision-makers (based on social values). [ABSTRACT FROM AUTHOR]

Considering the stakeholders' pressure and the high cost/risk of green technological innovation (GTI), the tech firms are challenged over whether or not both of its components, namely green process innovation (GPsI) and green product innovation (GPdI), should be adopted. Focusing on both components raises the final product price, adversely affecting the consumers' willingness to pay. In this study, evolutionary game theory and system dynamics were employed following a combinatory approach to analyze the evolutionary behavior of the GTI system with emphasis on both GPdI and GPsI through a feedback process. For this purpose, the tech firms' environmental performance under evolutionary stable strategies was examined. In addition, the impact of the tech firms' environmental performance on their evolutionary behavior and the consumers' purchasing approach was analyzed. The simulation results indicate that tech firms exhibit different environmental behaviors in various game scenarios. In the fourth scenario, where tech firms choose both GPsI and GPdI and consumers prefer the first-type green product, the environmental performance of tech firms is superior compared to other scenarios. Conversely, in the second scenario, where tech firms opt for GPdI and consumers lean toward the second type of green product, tech firms demonstrate poor environmental performance. When consumer environmental awareness is dynamic. The evolutionary rate of tech firms and consumers exceeds that of the other scenarios. It was also found that effective government intervention can accelerate the system's evolution. [ABSTRACT FROM AUTHOR]

This study investigates households' willingness to pay (WTP) for better water systems, clean water availability, and water quality in Gadaizi tehsil, District Buner, Pakistan. This research aims to shed light on various aspects of water quality, health impacts, and socioeconomic factors influencing households' ability to pay for superior water services. This research also looks into waterborne infection and water purification methods residents utilize to mitigate the risk of water pollution. Utilizing a mixed‐method approach with a structured questionnaire, data from 62 households were collected. SPSS was used for data analysis. Findings reveal awareness of water contamination issues, primarily attributed to marble industries. Most households use untreated water, boiling, chemicals, or candle filters. Water purification methods are influenced by media exposure and higher income. Common waterborne diseases, such as typhoid and diarrhea, are treated in private hospitals. Consumer WTP for better water systems depends on income, education, and media exposure, in which income has a statistically significant positive effect on WTP for improved water services. Although 76% of households do not use any water purification method. 84% of households are willing to adopt a private sector‐provided system. Importantly, this study highlights the necessity for public health initiatives and a thorough understanding of socioeconomic issues to guide political choices for better water delivery. These insights can inform policies that prioritize public health and ensure better access to clean water for all. [ABSTRACT FROM AUTHOR]

This study designs a double-bounded dichotomous questionnaire, and uses the Contingent Valuation Method (CVM) to estimate residents' willingness to pay(WTP) for water pollution control along the Taihu Lake Basin. The results of the returned questionnaire show that 82.76% of the residents are willing to pay. CVM estimation results show that the average WTP of residents for water pollution control is 138.86 yuan/year. In addition, the influencing factors of WTP are explored using a Logistic regression model, and the heterogeneity of WTP among residents of different genders is analyzed. The study found that: (1) The younger the residents, the higher their WTP; (2) The higher the income, the higher the residents' WTP for water pollution control; (3) Residents with higher educational level are more willing to pay; (4) The higher the degree of residents' understanding of water pollution control policies, the higher the WTP; (5) The higher the degree of residents' recognition of pro-environmental behavior, the higher the WTP; (6) Male residents' WTP is mainly affected by cognitive factors such as their understanding of governance policies and their approval of pro-environmental behaviors, while female residents' WTP is mainly affected by personal attributes, such as age, income, and the number of household laborers. Furthermore, this study proposes targeted measures to improve residents' WTP from three aspects: the government enriches the channels for residents to participate in water pollution control, the social media enriches the popularization of water environment knowledge, and the school strengthens the education of environmental protection knowledge, considering the differences in residents' characteristics. Therefore, this study can provide a theoretical reference and decision-making basis for encouraging residents to participate in water pollution control, promote the construction of a beautiful watershed, and provide a reference for other basins. [ABSTRACT FROM AUTHOR]

We develop a model of investor information choices and asset prices in which the availability of information about fundamentals is time-varying and responds to investor demand for information. A competitive research sector produces more information when more investors are willing to pay for that research. This feedback, from investor willingness to pay for information to more information production, generates two regimes in equilibrium, one having high prices and low volatility, the other the opposite. The low-price, high-volatility regime is associated with greater information asymmetry between informed and uninformed investors. Information dynamics move the market between regimes, creating large price drops even with no change in fundamentals. In our calibration, the model suggests an important role for information dynamics in financial crises. This paper was accepted by Kay Giesecke, finance. Supplemental Material: The online appendix and data are available at https://doi.org/10.1287/mnsc.2021.01213. [ABSTRACT FROM AUTHOR]

In Martinique, pig production satisfies less than 20% of demand for pork, with traditional pig farming and wild pig hunting covering only a small proportion. This study has three parts: (i) for the first time, it analyses the performance of domesticated descendants of Creole feral pigs of Martinique based on a 29-day finishing test on two farms (A vs. B) with the same fibre-rich diet on a total of 40 pigs; (ii) it evaluates consumers’ tastes based on a sensorial test by an untrained panel of 61 consumers who tasted pork prepared as a fricassee from either farm A or farm B; and (iii) evaluates willingness to pay (WTP) for Creole pork products and of the design of a future niche market. The average daily gain (ADG) of the finishing pigs was higher on farm A than on farm B (256 vs. 100 g/d, P < 0.001) resulting in a higher hot carcass weight on farm A than farm B (41.3 vs. 33.5 kg, P < 0.01), and better hot carcass yield on farm B than farm A (74.0 vs 68.8 %, P < 0.01). In the sensorial test, the consumers gave a higher score to the meat originating from the youngest pigs (Farm B), especially scores for tenderness and juiciness (+0.94 and +0.55 points, P < 0.05 and P=0.10, respectively). The 61 respondents were willing to pay more for processed products (sausage, pâté, ham) than for fresh meat. They considered that Creole pork has a better taste and is of better quality than industrial meats originating from mainstream genotypes. According to the majority of respondents, Creole pork should be rich in intra-muscular fat (100% of respondents) and low in inter-muscular fat (60% of respondents). Based on the survey, the main desirable future for Martinique's Creole pig production correspond to a low-carbon system with feed based on local resources, with on-farm slaughtering and short-distance sales (direct-to-consumer farm gate sale, sale at the butcher's or at the pig cooperative). [ABSTRACT FROM AUTHOR]

The goal of this study is to develop a social pricing model for the consumption of a good such drinking water in order to finally uphold the ideal of consumer equality. A deficit results from the first-tier monopoly's price; furthermore, second-class pricing may have detrimental effects on fairness. The concern for equity does, in fact, necessitate the inclusion of social value in the price model. The empirical research demonstrates that the Greater Tunis region's households face an appreciation for the physical quality of this good when consuming drinking water, Social pricing is therefore primarily based on a customer's willingness to pay (WTP) in accordance with their preferences. [ABSTRACT FROM AUTHOR]

Copyright of Environmental & Social Management Journal / Revista de Gestão Social e Ambiental is the property of Environmental & Social Management Journal and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper aims to investigate the effects of tourist inspiration, travelers' masstige consumption values and destination love on willingness to pay and destination brand advocacy through masstige theory and S-O-R model paradigm. Primary data were collected through a structured survey questionnaire and structural equation modeling (SEM) was used to examine relationships among variables. Based on data analysis, tourist inspiration impacts overall travelers' masstige consumption values and destination love. Further, willingness to pay and destination brand advocacy are influenced positively by masstige perception and destination love. The research outputs have implications for practitioners and planners to design their destination product as well as shed light on insightful findings for scholars who desire to structure their theory-driven models regarding masstige and S-O-R model. To the best of authors' knowledge, this is the first paper examining the impact of masstige consumption values on behavioral consequences of travelers. [ABSTRACT FROM AUTHOR]

Copyright of Food Science & Technology & Economy is the property of Grain Science & Technology & Economy Editorial Office and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Amazon, as one of the dominant online retailers (platforms), cooperates with manufacturers under wholesale contract to develop its store brands. Simultaneously, Amazon offers manufacturers with a marketplace and serves manufacturers in the agency selling. In this paper, we build a model to investigate the platform's and the manufacturer's choices on the cooperation modes (i.e., wholesale contract or agency selling) and their quality decisions when they serve consumers with heterogeneous willingness to pay for quality and the platform can dictate the quality under the wholesale contract. We find that the platform and the manufacturer are more likely to align their preferences on selling modes when consumers are homogenous enough. Moreover, when the commission rate is relatively low, both of them may prefer the agency selling. In this case, the manufacturer is willing to offer high quality in the agency selling. In contrast, when the commission rate is sufficiently high, they can only align their preferences on selling modes by choosing the wholesale contract. The product quality under the wholesale contract is higher than that in the agency selling. Finally, we provide three extensions: the platform decides the commission rate, the platform decides the wholesale price and competition between manufacturers. [ABSTRACT FROM AUTHOR]

Global warming concerns have emphasized the need for carbon neutrality. Improving the efficiency of the electricity industry is one method of reducing CO2 emissions. There is a demand response policy that trades the saved electricity through voluntary adjustment of consumption patterns. The introduction of real-time pricing (RTP) based on advanced power supply systems is a method of transitioning to a demand-oriented power system. However, as Korea's power supply system is a relatively less efficient single-rate system, it is necessary to improve the efficiency of demand management. To transition to a demand-oriented power system in Korea, consumer preference is first investigated. This study evaluates the willingness to pay (WTP) for the introduction of RTP in Korea. Based on a survey of 500 households using the contingent valuation method, the monthly average WTP was found to be 2465 Korean won per household ($2.18 per household), which is approximately 7.8% of the electricity rate. Several additional factors influencing WTP were analyzed. Further analysis indicated that it is more effective to establish infrastructure for introducing RTP in local areas with low average electricity rates. These findings are beneficial for the development of future demand response policies. [ABSTRACT FROM AUTHOR]

For many years, the economic literature has recognized the role of attitudes, beliefs, and perceptions in estimating the value of a statistical life (VSL). However, few applications have attempted to include them. This article incorporates the perceived controllability and concern about traffic and cardiorespiratory risks to estimate VSL using a hybrid choice model (HCM). The HCM allows us to include unobserved heterogeneity and improve behavioral realism explicitly. Using data from a choice experiment conducted in Santiago, Chile, we estimate a VSL of US$3.78 million for traffic risks and US$2.06 million for cardiorespiratory risks. We found that higher controllability decreases the likelihood that the respondents would be willing to pay for risk reductions in both risks. On the other hand, concern about these risks decreases the willingness to pay for traffic risk reductions but increases it for cardiorespiratory risk reductions. [ABSTRACT FROM AUTHOR]

AbstractAs an energy-efficient transportation innovation, hybrid vehicles (HVs) have the potential to minimize carbon emissions and address environmental issues. The study is novel as it presents significant theoretical contributions within the theory of planned behavior (TPB) framework. Firstly, it integrates the perceived seriousness of environmental problems as a predictor, enhancing understanding of individual responses to environmental concerns. Secondly, it expands the TPB model by introducing willingness to pay for HVs as a moderator, acknowledging the economic aspect of adopting environmentally friendly technologies. These additions enrich the TPB framework, offering insights into the interplay between psychological determinants and economic considerations in behavior change. The study therefore aims to extend the TPB by incorporating two key elements: perceived seriousness of environmental issues and willingness to pay for HVs. We find that perceived seriousness of problems in the environmental has positive impact on attitude toward adoption of HVs, subjective norms, perceived behavioral control, intentions to adopt and actual use of HVs. TPB constructs have positive impact on intentions to adopt and actually use HVs. Moreover, intentions to adopt HVs also positively influence the actual use of HVs. Moreover, the results show that the serial mediations are also in play, whereby perceived seriousness of environmental issues influences TPB constructs, which influence intentions to adopt HV which in turn influence the actual use of HVs. We also find that willing to pay for HVs plays an enhancing role as a moderator in the TPB model. [ABSTRACT FROM AUTHOR]

Introduction: Cataracts represent a significant public health issue and are the most prevalent vision disorder following refractive errors. They can restrict the economic, social, and psychological activities of those affected, thereby diminishing their quality of life. This study was undertaken to examine the willingness to pay for cataract surgery and the factors influencing this decision in selected medical centers in Urmia. The two-stage Heckman model was utilized to aid decision-making in financing this service. Methods: This research was a descriptive-analytical study evaluating the economic aspects of health interventions, conducted from the patient's perspective. In this cross-sectional study, a sample size of 217 patients with cataract issues was selected using Michel Carson's table. These patients were from Imam Khomeini Hospital and Aftab Urmia Surgery Center in 2023. Data was collected using a conditional valuation approach to determine the maximum amount patients were willing to pay, as gathered through a questionnaire. The factors influencing the willingness to pay for cataract surgery were estimated using the two-stage Heckman regression model. The final effect value of each variable was calculated using Stata version 14 software. Results: In this study, 81.11% of participants (176 individuals) expressed a willingness to pay for cataract surgery, with the average amount they were willing to pay being $206.3. However, out of the 217 respondents, 41 rejected the proposed amounts and were not willing to pay anything. The results of the Hemken model indicated that the income of patients and the size of their households significantly influenced their willingness to pay for cataract surgery. However, other variables investigated did not have a significant impact. Conclusion: The study results revealed a significant influence of both income and household size on the likelihood of willingness to pay, as well as the extent of willingness to pay for cataract surgery. Consequently, it is crucial to formulate policies and provisions that guarantee access to cataract services, particularly for individuals from large households with low income and high costs. [ABSTRACT FROM AUTHOR]

This paper presents a systematic investigation of the train choice preference heterogeneity of High-Speed Railway (HSR) passengers under market segmentation to understand their train choice comprehensively. A stated preference survey was conducted for the Nanning-Guangzhou Railway and Nanning-Beihai Railway. Latent Class Analysis (LCA) was employed to identify homogeneous subgroups and segment the passenger market of each line into three segments: private travelers with a long total duration (PTLTD), business travelers (BT), and private travelers with a short total duration (PTSTD). Mixed Logit (ML) models were constructed for each subgroup sample to assess passengers' preferences in train choice. The results show that each class exhibited unique characteristics and preferences, and train fare and running time, departure date and time, and train frequency were statistically significant factors affecting train choice. This study can furnish theoretical and decisional support for HSR operators to design train operating schemes and flexible fare systems. [ABSTRACT FROM AUTHOR]

Rapid urbanisation in sub-Saharan Africa occurs with little land registration, and government-led regularisation schemes often find limited uptake of title deeds by residents. In theory, there could be private and public benefits from land titling in cities. However, little is known about how landholders value the various dimensions of formal property rights in comparison to informal tenure. We address these questions by unbundling property rights into multiple functions of tenure security and by adopting an innovative combination of methods, including an incentivised willingness-to-pay exercise, a survey, and in-depth interviews conducted in Dar es Salaam, Tanzania. Examining how landholders perceive dimensions of tenure advances our understanding of limited land formalisation in urban Africa and provides evidence for alternative policy approaches to address local demand for tenure security more effectively. [ABSTRACT FROM AUTHOR]

Simple Summary: This research examined UK cat owners' preferences for treatments for feline osteoarthritis, including preferences for quality of life improvements, safety considerations, and costs associated with hypothetical new pain therapies. Aspects of quality of life from previous research were extracted and included in exploratory interviews with cat owners (n = 3) to identify the key domains that contribute to the quality of life of cats. Descriptions of the quality of life of cats with osteoarthritis and hypothetical product characteristics were developed and validated through interviews with veterinarians (n = 3). An online survey was subsequently shared with 255 pet owners in the UK. Pet owners were presented with quality of life descriptions and hypothetical product characteristics to gather their preferences for quality of life improvements and their willingness to pay for (unbranded) pain therapies at various levels of price. Pet owners were motivated to improve their cats' quality of life, which translated into a willingness to pay for therapies; specifically, pet owners valued quality of life improvements in mobility, pain expression, and well-being. When presented with a product profile of the hypothetical new injection treatment and its cost, 50% of cat owners were willing to pay more for the new injection treatment, which is expected to have improved efficacy and safety when compared to a hypothetical standard treatment. Significantly more pet owners also preferred the new injection treatment to the standard treatment when the price was not presented (p < 0.01), with product efficacy and safety driving pet owners' decision-making. The majority of pet owners did not agree that taking their cats to the veterinarian once a month for treatment would be burdensome. Cat owners in the UK are motivated to improve their cats' quality of life, which translates into a willingness to pay for effective treatment of pain associated with osteoarthritis. Veterinarians should offer cat owners the pain treatment they feel is best suited for improving the cats' quality of life and ensuring the relationship between cat and owner is preserved. This research aimed to explore UK cat owners' preferences for treatments for feline osteoarthritis (OA) by exploring preferences around quality of life (QoL) improvements, safety considerations, and costs associated with hypothetical innovative pain therapies. Aspects identified in an existing conceptual framework were extracted for inclusion in exploratory interviews with cat owners (n = 3) to identify key domains that contribute to the QoL of cats. QoL descriptions for cats with OA and hypothetical product attributes were developed and validated through interviews with veterinarians (n = 3). An online survey was subsequently shared with 255 pet owners in the UK. Pet owners were presented with QoL descriptions and hypothetical product attributes to gather their preferences for QoL improvements and their willingness to pay (WTP) for (unbranded) pain therapies at various price points. Pet owners were motivated to improve their cats' QoL, which translated into WTP for therapies; specifically, pet owners valued QoL improvements in mobility, pain expression, and well-being. When presented with a product profile of the hypothetical novel monoclonal antibody (mAb) and cost, 50% of cat owners were willing to pay more for a mAb that is expected to have improved efficacy and safety when compared to a hypothetical standard of care (SoC). Significantly more pet owners preferred the mAb than the SoC when price was not presented (p < 0.01), with product efficacy and safety driving pet owners' decision-making. The majority of pet owners did not agree that taking their cats to the veterinarian once a month for their treatment would be burdensome. Cat owners in the UK are motivated to improve their cats' QoL, which translates into WTP for the efficacious treatment of pain associated with osteoarthritis. Veterinarians should offer cat owners the pain treatment they feel is best suited for improving the cat's QoL and to ensure subsequent owner-pet bond is preserved. [ABSTRACT FROM AUTHOR]

The value of statistical life (VSL) reflects the trade-off between money and the risk of death. It is a key indicator for conducting regulatory impact assessments. The main purpose of this study was to estimate the VSL in the field of food safety. At the same time, it investigates respondents' willingness to pay (WTP) for reducing the risk of death from foodborne illnesses and explores the impact of factors such as the average household monthly income, health status, and education level on WTP. We conducted a survey using an open-ended contingent valuation method among 1307 respondents aged 18 and above to determine their WTP. Based on the WTP survey results, we calculated the VSL in the food safety sector. We used binary logit and Tobit models to analyze the influencing factors. The results of the study show that the median WTP for reducing the risk of foodborne illness is CNY 100 (USD 16), and the estimated VSL is approximately CNY 9.09 million (USD 141 million). Indicators such as the average household monthly income, health status, and education level are important factors affecting WTP. This study will help practitioners, researchers, and policymakers understand the current population's attitudes towards food safety regulations and determine the priorities for regulatory implementation. Future research can explore the effects of different elicitation methods, cultural differences, and regional variations on WTP and VSL. [ABSTRACT FROM AUTHOR]

AR integrates virtual elements with the real world in real-time to enhance interactivity and vividness, which may influence consumers' perceptions and payment intentions. This study explores the impact of Augmented Reality (AR) on consumer willingness to pay for cultural heritage products, utilizing the Technology Acceptance Model (TAM) and flow theory. This study analyzes 603 responses (quantitative data) to understand consumer perceptions of AR in the purchasing process of cultural heritage products. The findings reveal that perceived usefulness, ease of use, and flow experience significantly enhance consumer purchase intentions, with ease of use also amplifying the effects of perceived usefulness and flow experience. Additionally, the immersive, interactive, and aesthetic aspects of AR contribute positively to ease of use and flow experiences, with immersion notably impacting perceived usefulness. The results support the research model with robust explanatory power, offering practical insights for employing AR to improve marketability and consumer engagement with cultural heritage products. This paper contributes to the existing literature by bridging the gap in understanding the role of AR in enhancing consumer experiences and financial outcomes in the cultural heritage domain. [ABSTRACT FROM AUTHOR]

Food safety in developing countries has always been a concern, and deciding to purchase foods with a healthy label can be challenging. The goal of this study was to investigate the behavior of consumers for healthy foods by evaluating the factors influencing the prevalence of purchasing them despite having to pay a premium. Required data were collected in 2022 from 359 households in Mashhad, Iran, through an online questionnaire. A Generalized Poisson model was employed for analysis and the results indicate that the consumer's field of study, the importance of food shape and size, the importance of food healthiness, the level of government supervision, practicing the 5Rs, awareness of the harmful effects of fast food on health (1% level) and variables of trust in a brand of healthy food, and the level of knowledge about the harmful effects of chemical fertilizers and toxins on human health (10% level) have a direct and significant relationship with consumers' willingness to purchase more healthy foods for which they are willing to pay a premium. On the other hand, the relationship of some other factors, such as the importance of food price (1% level) and household size, household expenses, presence of individuals over 60 years old in the household, and the importance of food taste and flavor (5% level) became negative and significant. Therefore, to promote the consumption of foods with a healthy label for the purpose of reducing environmental issues and human health problems, it is recommended to produce and offer various healthy foods, create local markets, provide discounts and economic incentives to the public, and use attractive packaging with accurate and readable labels. [ABSTRACT FROM AUTHOR]

Sustainable development ensures the longevity of civilization by balancing economic growth, environmental protection, and social equity. The present study evaluates cultural heritage assets via a meta-regression analysis function transfer, in which 85 studies were examined that revealed 106 different willingness-to-pay (WTP) values in the period 1995–2022. The meta-regression methodology enables the valuation of cultural heritage—tangible and intangible—goods and services, as well as cultural values (e.g. aesthetic, spiritual, symbolic, etc.). The utilization of WTP would enable us to compare the two models (i.e., European and non-European) on how much a citizen would value cultural heritage based on non-market valuation. The results would inform policymakers about the importance of cultural heritage assets in the sustainable development agenda. The empirical findings present that the WTP for the European sample is 37.6€ and for the non-European is 60.12€. In essence, the Europeans are influenced mainly by intangible cultural assets, whereas non-Europeans are influenced by oral tradition. Overall, cultural heritage conservation necessitates for proper economic valuation through a holistic approach, in short—the valuation of both tangible and intangible cultural goods and services is imperative for sustainable development. [ABSTRACT FROM AUTHOR]

Waste management in Lira City, Uganda faces significant challenges, particularly in the area of waste collection. Pollution and health risks from uncollected waste are rampant, posing serious threats to human health and the environment. This persistent problem demands urgent attention and effective solutions to improve waste collection and safeguard the well-being of the community and the natural surroundings. This study aimed to assess households' willingness to pay for improved waste collection services, examine their waste management practices, and identify influencing factors. We employed a multistage sampling technique to randomly select 585 household heads and conducted key informant interviews with city officials and private waste collectors. Data analysis was conducted with STATA 17 and results showed that 48.12% of households were willing to pay an average of UGX 3012 ($0.84) per month for better services. Factors including education level, occupation, distance to waste collection sites, and environmental awareness significantly influenced this willingness. The study highlights a significant gap in public awareness and understanding of efficient solid waste management practices and concludes that enhancing public awareness is crucial for improving environmental health and safety in Lira City. [ABSTRACT FROM AUTHOR]

Practical Application Despite the growing interest in innovative nonanimal protein‐prepared foods, knowledge about consumer demand for these newly prepared foods and their potential scope in the market could be improved. This study reports the results of a discrete choice experiment on consumers’ (n = 1245) willingness to pay (WTP) for prepared plant‐based meat (PPBM) in the context of Chinese food culture. Consumers were randomly assigned to a treated group with additional environmental information about PPBM. The estimation results of the random parameter logit model showed that when environmental information was provided, consumer preferences and WTP for frozen meatballs with mixed meat (beef‐based and soy protein–based meat) and PBM (pure soy protein–based meat) significantly increased. However, their preference and WTP for food quality and safety attributes of meatballs decreased. Simultaneously, the availability of information reveals the heterogeneity of preferences. This study found that positive WTP for PPBM was limited to consumers with a low degree of food technology neophobia (FTN) and that consumers with a high degree of FTN may avoid purchasing meatballs made from PBM. In contrast, consumers with a higher time preference (i.e., impatient consumers) were likelier to pay for PPBM meatballs.PPBM is especially valuable in developing innovative nonanimal protein‐prepared foods, and China has the potential to become the largest PPBM food market. Understanding consumers’ preference for PPBM products and the impact of information provision on their WTP will assist food companies in devising suitable strategies for the development of new PPBM products. The findings of this study provide targeted market insights for the food industry to help guide the development of plant‐based meat products more effectively. [ABSTRACT FROM AUTHOR]

The water use practices in Menz Mama Midir woreda are very traditional and inefficient. To lessen this problem, water pricing (valuation) has been considered to be a promising tool. This study, therefore, examined smallholder farmers' willingness to pay and determinants affecting their decisions to pay for improved irrigation water use in Menz Mama woreda, North Shewa zone, Amhara national regional state of Ethiopia. Cross-sectional data collected from 215 randomly sampled irrigation beneficiaries were used for analysis. The mean WTP from double bounded dichotomous elicitation method ranges from 164.027 Birr (4.17 USD) to 221.059 Birr (5.62 USD) per year per hectare of irrigable land. The result from the seemingly unrelated bivariate probit model estimation revealed that the sex of the household head, total annual farm income, size of irrigable landholdings of the household, frequency of extension contacts, amount of credit, and dissatisfaction with the existing irrigation service positively and significantly influenced farmers' WTP decisions. In contrast, off-farm income and bid values were negatively related to WTP decisions. Therefore, the aforementioned factors affecting farmers' decisions to pay should be taken into consideration when constructing irrigation schemes in the study area and areas with similar economic and socio-cultural settings. [ABSTRACT FROM AUTHOR]

Poor people in a developing country like India face energy poverty and are deprived of clean cooking fuel. Clean cooking fuels are costlier and require more willingness to pay (WTP) from the consumer. Therefore, this is a descriptive study aims to analyze factors associated with differences in cooking fuel expenses at the household level in Uttar Pradesh, India. For this purpose, panel data from the Consumer Pyramids Household Survey of CMIE from 2014 to 2019 has been considered. The study uses fixed-effect panel data model to control individual-specific effects. Cooking fuel expenses show positive elasticity concerning per capita income. However, this elasticity is lower for the higher-income group than the bottom-income group. Less educational attainments of households are associated with lower spending on cooking fuel. Moreover, households with better access to electricity are willing to spend more on cooking fuel expenditure. Hence, improved access to electricity nudges households towards more WTP for cooking fuel. It is further confirmed by finding a positive association between electricity-using household appliances and cooking fuel expenses. Therefore, improved access to electricity may increase the WTP for cooking fuel and adopt clean cooking fuel in different ways. This suggests positive spillover effects of modern energy services on clean cooking fuel. [ABSTRACT FROM AUTHOR]

With the increasing demand for safe vegetables in Indonesia, the government issued certification labels to protect consumers from bad practices. However, much research has not focused on consumers' responses toward the certified fresh vegetables in emerging countries. This study identifies consumers' segments and preferences for fresh produce by using three attributes. The choice-based conjoint through a national online survey (N = 1027) indicates that most consumers prefer certified products. Meanwhile, the latent class analysis indicates the following segments: quality-minded, safety-conscious, appearance-focused, and price-conscious—each with distinct preferences. Quality-minded and safety-conscious consumers prefer certified labels but have different attention to the price. Appearance-focused consumers more consider on leaves' appearance. Price-conscious consumers choose the lowest price possible regardless of the other attributes. This paper provides practical implications for marketers and policymakers. [ABSTRACT FROM AUTHOR]

Understanding visitors' willingness to pay (WTP) for natural ecosystems can assist policymakers in managing the environmental assets that form the foundation of nature-based tourism. To earn the highest economic return from limited budgetary resources, tourist-dependent destinations must identify sustainable sources of conservation funding and prioritize spending across ecosystems and initiatives. The purpose of this study is to assess the potential for visitor donations to serve as a source of conservation funding and investigate preferences and willingness to pay for multiple ecosystems concurrently, using data from a stated preference survey administered in Grenada, a small island state in the southern Caribbean that relies on nature-based tourism. Results from a discrete choice experiment and a contingent valuation exercise reveal a reluctance to donate to conservation initiatives by more than half of respondents. Visitors place the highest value on improvements to coral reefs, followed by rainforests, mangroves, and beaches. Average willingness to donate to a conservation trust fund ranged from US $8.00 to US $15.00, and from US $17.00 to US $52.00 for conservation plans targeting improvements to specific ecosystems. Few factors are found to be associated with willingness to pay. Scale heterogeneity may be a more significant source of variation than preference heterogeneity. [ABSTRACT FROM AUTHOR]