Economics Commons^™

Taking Flight Or Taking A Pass? Exploring Factors Influencing Consumer Willingness To Pay For Evtol Travel, David C. Ison

International Journal of Aviation, Aeronautics, and Aerospace

The Advanced Air Mobility (AAM) industry is experiencing significant growth due to technological advancements and increasing demand for efficient travel experiences. The market is expected to reach $45 billion by 2030, with major players like Joby, Archer, Beta, and Wisk dominating. This study aimed to assess public willingness to pay for AAM services using eVTOLs, using Amazon's Mechanical Turk platform. The survey yielded a response rate of 85.8%, with 1,622 completed surveys. The study found that younger urban consumers were more willing to pay higher prices for AAM electric vertical takeoff and landing (eVTOL) aircraft trips than older participants, possibly …

Valuation Of Oyster Reef Restoration Along The Gulf Coast, Freedom Enyetornye

Theses and Dissertations

The objective of this study is to estimate the willingness to pay of U.S. Gulf Coast residents to support oyster reef restoration. The Gulf Coast is the leading commercial oyster- producing region in the United States, accounting for approximately 46% of the total commercial oyster harvest in 2021. My benefit estimates were based on data obtained from a contingent valuation survey of 6,475 Gulf Coast respondents. I estimated the willingness to pay (WTP) for oyster reef restoration using interval regression and Turnbull lower-bound methods. The estimated mean WTP value is in the range of $142 and $436 per household. The …

Spatial Dimensions Of Water Quality Value In New England River Networks, Robert J. Johnston, Klaus Moeltner, Seth Peery, Tom Ndebele, Zhenyu Yao, Stefano Crema, Wilfred M. Wollheim, Elena Besedin

Economics

Households’ willingness to pay (WTP) for water quality improvements—representing their economic value—depends on where improvements occur. Households often hold higher values for improvements close to their homes or iconic areas. Are there other areas where improvements might hold high value to individual households, do effects on WTP vary by type of improvement, and can these areas be identified even if they are not anticipated by researchers? To answer these questions, we integrated a water quality model and map-based, interactive choice experiment to estimate households’ WTP for water quality improvements throughout a river network covering six New England states. The choice …

Biophysical Measures To Support Analysis And Communication Of Existence Values, James Boyd, Robert Johnston, Paul Ringold

Economics

A recent focus of ecosystem services research has been on the definition of biophysical outcomes and measures most closely linked to social welfare. There is a particular need to identify biophysical outcomes corresponding to existence values. (Values associated with existence apart from any current or future use.) We review economic and ecological evidence to answer two key questions: First, what are ideal characteristics of linking indicators for existence values? Linking indicators should be: understandable, subject to direct sensory perception, represented at relevant temporal and spatial scales, comprehensive, and quantifiable in a repeatable manner. Second, what types of ecosystem outcomes are …

Poultry Producer's Willingness To Invest In On-Farm Carcass Disposal, V. L. Campbell, J. M. Thompson, J. L. Apriesnig, D. L. Pendell, G. T. Tonsor

Michigan Tech Publications

Foreign animal diseases (FAD) can cause substantial economic losses in production, consumption, and the supply chain. These diseases are typically highly pathogenic and lead to disruptions in normal business practices and to demands for higher investment in biosecurity practices. For poultry producers this can lead to changes in bird pick-ups, chick placements, and length of out time on farms as well as changes in day-to-day operations. When an FAD is reported, poultry producers that rely on off-premises carcass disposal (e.g., renderers or landfills) may be required to develop on-farm disposal capacity (e.g., incinerators or burial) rapidly if their operation falls …

Assessing The Patient-Perceived Monetary Value Of Patient-Reported Outcome Improvement For Patients With Chronic Knee Conditions, Sarah B. Floyd, Alicia Oostdyk, Melanie Cozad, John M. Brooks, Paul Siffri, Brian Burnikel

Journal of Patient-Centered Research and Reviews

Purpose: The high cost of orthopaedic care has attracted criticism in the current value-based health care environment. The objective of this work was to assess the properties of a willingness to pay (WTP)-based approach to estimate the monetary value that patients place on health improvements in chronic knee conditions following orthopaedic treatment.

Methods: A sample of patients with a chronic knee condition were surveyed between January and May of 2018 at a large orthopaedic practice. Each patient provided their WTP for restoration to ideal knee health and completed the Single Assessment Numerical Evaluation (SANE) to describe their baseline knee state. …

Willingness To Pay Of Urban Households For The Conservation Of Natural Resources And Cultural Heritage In A Neighboring Rural Area: A Cvm Study, Rosalina Palanca-Tan

Economics Department Faculty Publications

Koronadal households benefit from Lake Sebu’s natural resources (lakes, waterfalls, rivers and springs, forest land, agricultural land) and cultural heritage (arts and handicrafts such as T’nalak weaving, brass casting, beadwork, and wood carving; music and dances; festivals; and beliefs and traditions of the T’boli indigenous tribe) in terms of recreation, good image and sense of pride, tourism income generation, the supply of high-quality tilapia, agricultural products supply, potential hydroelectric power source, biodiversity, and climate change mitigation. These benefits are integrated into a single estimate using the contingent valuation method. In the study, a sample of 524 Koronadal households was asked …

Australian Consumers Are Willing To Pay For The Health Star Rating Front-Of-Pack Nutrition Label, Sheri L. Cooper, Lucy M. Butcher, Simone D. Scagnelli, Johnny Lo, Maria M. Ryan, Amanda Devine, Therese A. O’Sullivan

Research outputs 2014 to 2021

© 2020 by the authors. Licensee MDPI, Basel, Switzerland. The Australia and New Zealand Ministerial Forum on Food Regulation has supported the recommendations set out in the 2019 Health Star Rating System Five Year Review Report. Specifically, the forum supported, in principle, Recommendation 9, to mandate the Health Star Rating if clear uptake targets were not achieved while the system is voluntary. Given that mandatory labelling is being considered, it is important to investigate how much consumers value the Health Star Rating in order to understand potential consumer uptake and inform industry. The aim of this study was to assess …

The Spillover Effect Of Marketing Discolored Beef On Consumer Preferences For Nondiscolored Beef, Ryan Feuz, F. Bailey Norwood, Ranjith Ramanathan

Applied Economics Faculty Publications

Consumers prefer bright, cherry-red retail beef. Retailers often mark down the price of discolored beef for quick sale. However, following this practice could result in a net loss of revenue if consumer willingness to pay (WTP) for nondiscolored beef is negatively affected by the presence of discolored beef in the consumer choice set. Through a hypothetical online survey and a controlled in-person experiment, we determine that marketing discolored beef together with nondiscolored beef increases most consumers’ evaluation of, but not their WTP for, nondiscolored beef.

The Organic Wheat Market: Three Essays On Pricing, Consumer Segments, And The Importance Of Labels, Tatiana Drugova

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

This dissertation aims to address issues related to supply and demand of organic wheat either as a commodity or contained in the final consumer products. Objectives for the first essay are to evaluate organic wheat price and premium risk, how it affects the profitability of organic wheat production, and examine whether hedging and forecasting can be used to manage the organic wheat price risk. A side objective is to apply and evaluate several data imputation methods to recover missing organic wheat price observations. Objectives for the second essay are to identify “very likely,” “likely,” and “unlikely” consumers of organic wheat …

The Effect Of "Drought Tolerant" Labeling On Consumers' Preferences And Willingness To Pay For Ornamental Plants, Susanne Tábara Cenador

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

Utah’s water resources are endangered by low rainfall rates, high per capita water consumption and a strong projected increase of residents. The irrigation of ornamental plant landscaping is estimated to account for 60% of residential water use, and is, therefore, a target of education programs in the effort to promote water conservancy. The water-wise “Yellow Tag” program developed by the Utah Division of Water Resources seeks to provide retail nurseries with free tags for labeling plants which are considered low water use with the objective of promoting water conservation. The objective of this study is to determine consumer preferences for …

Reducing Survey Hypothetical Bias Through Revealed Behavior Priming: A Case Of Student Preference For Beef Served By University Dining, Gaby De Nascimento Mandlhate

Theses and Dissertations--Agricultural Economics

Economists are still searching for methods to reduce/eliminate Hypothetical Bias (HB). Different methods have been previously applied some with success and others without. In this study, we aimed to further test the cognitive dissonance approach (CD) through a learning design method to estimate the WTP for five beef attributes: Non-quality, Kentucky Proud, Appalachian, Grass Fed and a mix of 25% Non-quality and 75% Kentucky Proud, using a one and one half bounded model. To test the CD, 881 participants from the University of Kentucky, were randomly assigned to a real/hypothetical market for a battery recycling project at first and afterwards …

Consumer Perceptions And Demand For Locally-Grown Vegetables In South Dakota, Richard Mulder

Electronic Theses and Dissertations

An increasingly popular topic in the food labeling field over the last 15 years has been the increasing body of research for food that is locally produced. Consumers’ definition of, attitudes toward, and willingness-to-pay (WTP) for local food have been areas of interest for researchers. To the best of our knowledge, this is the first study that contributes to the current body of local foods’ research for vegetables by providing information on these areas of interest for the state of South Dakota. This study acquires data through a consumer-intercept survey conducted in grocery stores throughout South Dakota with a sample …

Assessing Rice Consumers’ Preferences And Willingness To Pay In Haiti, Cleeford Pavilus

Graduate Theses and Dissertations

In the last 30 years, rice has become the number one food staple in Haiti, and rice imports have outpaced domestic production to supply the country’s increasing rice demand. Policy makers support the claim that increasing local rice supply will not only reduce the dependency on imported rice but also upheave the national economy. However, there is a lack of information on Haitian consumers’ preferences for rice to aid the development of the local rice supply chain. This research aims to bridge that gap by assessing Haitian consumer preferences and willingness to pay for selected rice quality characteristics. The results …

An Examination Of Consumer Willingness To Pay For Local Products, Aaron Adalja, James Hanson, Charles Towe, Elina Tselepidakis

Aaron Adalja

We use data from hypothetical and nonhypothetical choice-based conjoint analysis to estimate willingness to pay for local food products. The survey was administered to three groups: consumers from a buying club with experience with local and grass-fed production markets, a random sample of Maryland residents, and shoppers at a nonspecialty Maryland supermarket. We find that random-sample and supermarket shoppers are willing to pay a premium for local products but view local and grass-fed production as substitutes. Conversely, buying-club members are less willing to pay for local production than the other groups but do not confllate local and grass-fed production.

Assessing Consumer Preferences For Seafood Labels, William C. Brayden Iii

Electronic Theses and Dissertations

Coastal communities are host to a suite of economic, cultural, and natural resources, and are often focused around a core such as tourism, beaches, fisheries, or processing. In nearly all cases, coastal communities survive based upon the resources in the surrounding coastal areas and water. As wild fisheries begin to stagnate, many traditional fishing communities are forced to look elsewhere for economic sustenance. While tourism or real estate may provide relief, residents often require a more stable, year-round income. Some coastal communities have begun to transition away from wild fisheries and towards marine aquaculture, or, the cultivation of marine animals …

Consumer Perceptions Of Food Safety And Preferences For Food Safety Interventions, Kofi Britwum

Department of Agricultural Economics: Dissertations, Theses, and Student Research

This dissertation consists of three essays that investigate consumers’ response to technologies that mitigate food safety risks: cattle vaccines against E. coli and direct-fed microbials.

The first essay examines the influence of information framing and issue involvement on perceptions of the two food safety technologies. This essay also examines the role of issue involvement on food safety perceptions. A hypothetical survey which includes six information treatments was developed, and targeted a representative, random sample of U.S consumers. Participants were exposed to general information about E. coli and the two food safety technologies, a gain-framed message, a loss-framed message, a media …

The Economic Value Of Forest Park Ecosystem Services: Results Of Five Focus Groups Conducted In Spring 2016, Randall A. Bluffstone, Pablo Barreyro, Jenny Dempsey Stein, Cody Kent, Antonia Machado

Economics Faculty Publications and Presentations

Objective: This initial phase of research lays the foundation for a survey using contingent valuation (CV) and choice experiment (CE) methods. We asked select Portland residents what they care about most in Forest Park, their willingness to pay (WTP) for improving ecosystem services and how they generally think about the value of those goods and services. These results will help us narrow the experimental design of the forthcoming CV/CE study.

Approach: We conducted a focus group in each of Portland’s 5 “quadrants.” We chose each location - Skyline, St. John’s, Cully, Foster-Powell and Hillsdale - based on either its proximity …

Law Of One Price And Optimal Consumption-Leisure Choice Under Price Dispersion, Sergey V. Malakhov

Sergey Malakhov

A Sustainability-Based Project Selection Algorithm: Socio-Technical-Economic Project Selection (Steps) Algorithm, Bharathi Bhattu

Dissertations, Master's Theses and Master's Reports

Multi-dimensional aspects play a vital role in the task of project-decision making. Environmental effects are to be considered in addition to other technical and non-technical aspects in order to avoid undue environmental damage. This current work introduces a new decision-making algorithm (Socio-Technical-Economic Project Selection or STEPS) that is demonstrated with the use of RCA (recycled concrete aggregate) as riprap for slope stabilization and erosion control which leaches chemical arsenic when in contact with water. Arsenic has long been recognized for its lethal properties. The main intention of introducing this new algorithm is to use sustainability concepts of social, technical, and …

Maximum Score Estimates Of The Determinants Of Residential Mobility: Implications For The Value Of Residential Attachment And Neighborhood Amenities, Timothy J. Bartik, J. S. Butler, Jin-Tan Liu

Timothy J. Bartik

This paper examines the determinants of the decision of low-income renters to move out of their current dwelling. Maximum score estimation is shown to be superior to ordinary discrete choice estimation techniques (probit, logit) for this problem, and for similar discrete choices that require revering a previously optimal decision. The estimation reveals psychological costs from moving for typical low income renters of at least 8% of their income ; these costs are even higher for older, longer tenure, or minority households. Policies that displace low income renters will have large social costs. In addition, the estimation results are used to …

Measuring The Benefits Of Amenity Improvements In Hedonic Price Models, Timothy Bartik

Timothy J. Bartik

No abstract provided.

Municipal Recycling In Waterville: A Choice Experiment, Katharine V. Eddy, Alec A. Finigan

Journal of Environmental and Resource Economics at Colby

The city of Waterville, Maine has experienced many struggles with establishing an economically and socially beneficial method for collecting recyclables from residents. In 2006, the town made the choice to terminate its curbside recycling pickup and open the Skills facility, where residents were able to transport there recyclables and dispose of them at the facility. This proved to also not be economically beneficial and the town ended this option for residents in 2012. The motivation behind establishing a new recycling program in Waterville is making Waterville more environmentally friendly, the creation of jobs for residents in the trash collecting business, …

Individuals Willingness To Pay For Health And Wellness In The Built Environment, Max Pollinger

Journal of Environmental and Resource Economics at Colby

Improving biological sustainability through health and wellness improvements in the built environment is currently being applied to high-end real estate development in both the residential and commercial environment in the United States. However, the market for health and wellness extends well beyond the top income bracket. This study adopts a choice experiment (CE) approach to investigate individual’s willingness to pay (WTP) for health and wellness improvements within their homes. The results suggest that individuals value health as an inelastic good independent of income, and they are willing to pay significant premiums to ensure biological sustainability within their homes independent of …

Risk Based Urban Watershed Management Under Conflicting Objectives, Vladimir Novotny, David E. Clark, Robert Griffin, Douglas Booth

Robert Griffin

Ecological impairment and flooding caused by urbanization can be expressed numerically by calculating the risks throughout the watershed (floodplain) and along the main stems of the streams. The risks can be evaluated in terms of the present and/or future. This article describes the methodologies for ascertaining the risks in the Geographical Information Systems (GIS) environment. The objectives of urban flood controls and ecological preservation/restoration of urban waters are often conflicting and, in the past, the sole emphasis on flood control led to destruction of habitat and deterioration of water quality. An optimal solution to these two problems may be achieved …

Measuring The Value Of Plastic And Reusable Grocery Bags, Jarod Dunn, Arthur J. Caplan, Ryan Bosworth

Arthur J. Caplan

Using data from an online survey of grocery store customers in Logan, Utah, we estimate the marginal effects on willingness to pay (WTP) for continued use of plastic grocery bags, and the marginal effects on willingness to accept (WTA) for switching to reusable grocery bags. We find both non-parametric and parametric evidence suggesting that individuals respond quite dramatically to moderate plastic-bag tax rates and reusable-bag subsidy rates. All else equal, older and lower-to-middle income individuals, as well as larger-sized households, are more likely to switch to using reusable bags exclusively when faced with a tax on plastic bags. Lower-to-middle income …

Infectious Disease Risks In Developing Countries: A Non-Market Valuation Exercise, Shreejata Samajpati

Electronic Theses and Dissertations

This dissertation focuses on the non-market valuation of health-risks of malaria, an infectious disease that imposes a substantive public health burden across the globe, hitting particularly hard the tropical developing nations of Africa and Asia. The United Nations Millennium Development Goals include malaria control as a priority and large investments are underway to promote effective prevention and treatment. Despite such concerted supply-side efforts, malaria-related mortality and morbidity still abound due to a complex interface of factors like climate-change, poverty, inadequate control behavior, infection and prevention externalities, parasite resistance etc. This research project digs into the demand-side of the health problem, …

Effect Of Nutrition Merchandising And Consumer Preferences On Willingness To Pay For Local Tomatoes And Strawberries In Kentucky And Ohio, Lyudmyla Kompaniyets

Theses and Dissertations--Agricultural Economics

This project investigates the impacts of nutrition merchandising on consumers’ willingness to pay for local tomatoes and strawberries. The data come from survey of Kentucky and Ohio residents in June 2011. Two thousand one hundred twelve individuals from Kentucky and Ohio were surveyed, to find out the impact of selfawareness of health benefits and health benefits information on their willingness to pay. The consumers were offered one of the three survey versions. The versions varied by how much nutrition information was provided to the consumer related to both strawberries and tomatoes – otherwise identical. A had the most, B had …

Spatial Variations In Willingness To Pay For Water At The Local And Regional Scales Using Geographically Weighted Regression, Robyn Lane Dennis

Graduate Theses and Dissertations

Two decades of rapid urban growth and increasing per capita water consumption has left water providers in Northwest Arkansas concerned about their ability to meet future demand for water. Beaver Water District (BWD) is the largest of four regional water providers that draw from Beaver Lake, the only source of potable water in the region. Growth projections and per capita consumption patterns indicate that BWD could exhaust its raw water allocation as early as 2031. Municipal water customers served by BWD were surveyed about their stated priorities for water use, their water conservation behaviors, and their attitudes and perceptions about …

Perceptions And Their Role In Consumer Decision-Making, Raman Khaddaria

Electronic Theses and Dissertations

This dissertation is an empirical investigation into the roles that different quantifiable and measurable perceptions play in defining individual behavior across a variety of decision-making contexts. In particular, the focus lies on smokers and the choices they make with regard to smoking and beyond. Chapter 1 analyzes a nationally representative sample of adults (23 years and older) in the United States, pertaining to the Annenberg Perception of Tobacco Risk Survey II (1999-2000). It is observed that three dimensions to smoking behavior viz., risk, temporality and addiction, interact to determine the smoking status of an individual. Although previous studies mostly looked …