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Willingness to pay

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Full-Text Articles in Economics

Consumer Willingness To Pay For E85, Denise A. Skahan Aug 2010

Consumer Willingness To Pay For E85, Denise A. Skahan

Masters Theses

Concerns regarding energy security, resource sustainability, and environmental protection have heightened interests in renewable fuels and sparked the research and development of ethanol as a transportation fuel. This study examines consumers’ willingness to pay for ethanol from various potential feedstocks; corn, switchgrass and wood wastes. Data was collected via a survey of fuel consumers across the United States in 2009. Results show that consumers have a preference for E85 (a fuel blend with 85 percent ethanol and 15 percent gasoline) from corn, switchgrass and wood wastes compared to E0 (gasoline) and a preference for E85 from switchgrass and wood wastes, …

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Contingent Valuation Studies And Health Policy, Matthew D. Adler Jan 2010

Contingent Valuation Studies And Health Policy, Matthew D. Adler

All Faculty Scholarship

This short comment argues that both cost-benefit analysis (CBA) and cost-effectiveness analysis (CEA) should be seen as imperfect tools for evaluating health policy. This is true, not only for extra-welfarists, but even for welfarists, since both CBA and CEA can deviate from the use of social welfare functions (SWF). A simple model is provided to illustrate the divergence between CBA, CEA, and the SWF approach. With this insight in mind, the comment considers the appropriate role of contingent-valuation studies. For full text, please see: http://www.law.upenn.edu/cf/faculty/madler/workingpapers/578A59B6d01.pdf.

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Hedonic Analysis Of The Willingness To Pay For Fuel Efficiency In The Australian Automobile Market, Michael Perkins Aug 2009

Hedonic Analysis Of The Willingness To Pay For Fuel Efficiency In The Australian Automobile Market, Michael Perkins

All Theses

The implicit prices of automobile attributes are estimated with a hedonic model of new automobiles sold in the 2005 Australian market. The estimated marginal value of decreased fuel consumption is found to be positively valued by drivers and car manufacturers. A comparison of explicit fuel savings estimated with Australian automobile market statistics to the implicit fuel savings estimated with the hedonic regression indicates that new automobile buyers accurately value the fuel cost savings associated with reductions in fuel consumption.

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Bridging The Gap Between The Field And The Lab: Environmental Goods, Policy Maker Input, And Consequentiality, Christian A. Vossler, Mary F. Evans Jan 2009

Bridging The Gap Between The Field And The Lab: Environmental Goods, Policy Maker Input, And Consequentiality, Christian A. Vossler, Mary F. Evans

CMC Faculty Publications and Research

This paper explores the criterion validity of stated preference methods through experimental referenda that capture key characteristics of a stated preference survey for a proposed environmental program. In particular, we investigate whether advisory referenda, where participant votes have either known or unknown weight in the policy decision, can elicit values comparable to that of a standard, incentive-compatible referendum. When participants regard their votes as consequential, our results suggest there is no elicitation bias with advisory referenda. For advisory referenda where participants view their votes as inconsequential, and for purely hypothetical referenda, we observe elicitation bias.

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On Consumers’ Valuation Of Nutritional Labels On Food Away From Home Products, Andreas Drichoutis, Panagiotis Lazaridis, Rodolfo M. Nayga, Jr. Jan 2008

On Consumers’ Valuation Of Nutritional Labels On Food Away From Home Products, Andreas Drichoutis, Panagiotis Lazaridis, Rodolfo M. Nayga, Jr.

Andreas Drichoutis

We examine consumers’ valuation for Food Away From Home (FAFH) products with and without nutritional labels using experimental auctions. We presented subjects with three different nutritional information schemes: a EU type label, a US type label and a Traffic Light (TL) label. Our results indicate that subjects bid more for the products with nutritional labels. However, among products with nutritional information, subjects’ willingness to pay values differ depending on the type of nutritional label.

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Consumer Demand For Quality: Major Determinant For Agricultural And Food Trade In The Future?, Julie Caswell Jan 2008

Consumer Demand For Quality: Major Determinant For Agricultural And Food Trade In The Future?, Julie Caswell

Julie Caswell

The impact of consumer demand for quality on the agricultural and food system is an increased emphasis on quality differentiation but not all in the direction of upgrading quality. The more elite market segments are thriving and reaching growing numbers of consumers but the basic price/quality markets remain strong. Most recent economic studies find that consumers are willing to pay for food safety and other quality attributes, and for information about them. The magnitude of the valuations varies by food product, attribute, country, and study design. This literature and a case study of genetically modified foods suggest that consumer demand …

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Measuring The Benefits Of Amenity Improvements In Hedonic Price Models, Timothy Bartik Dec 2007

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

Timothy J. Bartik

No abstract provided.

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Consumer Demand For Quality: Major Determinant For Agricultural And Food Trade In The Future?, Julie Caswell Jan 2007

Consumer Demand For Quality: Major Determinant For Agricultural And Food Trade In The Future?, Julie Caswell

Julie Caswell

The impact of consumer demand for quality on the agricultural and food system is an increased emphasis on quality differentiation but not all in the direction of upgrading quality. The more elite market segments are thriving and reaching growing numbers of consumers but the basic price/quality markets remain strong. Most recent economic studies find that consumers are willing to pay for food safety and other quality attributes, and for information about them. The magnitude of the valuations varies by food product, attribute, country, and study design. This literature and a case study of genetically modified foods suggest that consumer demand …

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Risk Based Urban Watershed Management Under Conflicting Objectives, Vladimir Novotny, David E. Clark, Robert Griffin, Douglas Booth Jan 2001

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

Economics Faculty Research and Publications

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 …

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Maximum Score Estimates Of The Determinants Of Residential Mobility: Implications For The Value Of Residential Attachment And Neighborhood Amenities, Timothy Bartik, J. Butler, Jin-Tan Liu Dec 1991

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

Timothy J. Bartik

No abstract provided.

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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 Aug 1990

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

Upjohn Institute Working Papers

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 …

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