International Science Index

4
10007412
Payment for Pain: Differences between Hypothetical and Real Preferences
Abstract:

Decision-makers tend to prefer the first alternative over subsequent alternatives which is called the primacy effect. To reliably measure this effect, we conducted an experiment with real consequences for preference statements. Therefore, we elicit preferences of subjects using a rating scale, i.e. hypothetical preferences, and willingness to pay, i.e. real preferences, for two sequences of pain. Within these sequences, both overall intensity and duration of pain are identical. Hence, a rational decision-maker should be indifferent, whereas the primacy effect predicts a stronger preference for the first sequence. What we see is a primacy effect only for hypothetical preferences. This effect vanishes for real preferences.

Paper Detail
51
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3
10004756
Factors Affecting Consumers’ Willingness to Pay for Chicken Meat from Biosecure Farms
Abstract:

The research aimed at investigating the factors affecting consumers’ willingness to pay for chicken meat from biosecure farms. The research was conducted in Makassar City, South Sulawesi Province, Indonesia. Samples were taken using random sampling technique in two supermarkets namely Lotte Mart and Gelael. Total samples were 50 respondents which comprised the chicken meat consumers. To find out the consumers’ willingness to pay for chicken meat from the biosecure farms, the contingent valuation method was utilized. Data were collected through interviews and questionnaires. Probit Logistic was estimated to examine the factors affecting the consumers’ willingness to pay for at the premium price for chicken meat from the biosecure farms. The research indicates that the education and income affect significantly the consumers’ willingness to pay for chicken meat from the biosecure farms (P < 0.05). The results of the study will be beneficial for the policy makers, producers, consumers and those conducting research.

Paper Detail
517
downloads
2
6471
Valuing Environmental Impact of Air Pollution in Moscow with Hedonic Prices
Authors:
Abstract:

The main purpose of this research is the calculation of implicit prices of the environmental level of air quality in the city of Moscow on the basis of housing property prices. The database used contains records of approximately 20 thousand apartments and has been provided by a leading real estate agency operating in Russia. The explanatory variables include physical characteristics of the houses, environmental (industry emissions), neighbourhood sociodemographic and geographic data: GPS coordinates of each house. The hedonic regression results for ecological variables show «negative» prices while increasing the level of air contamination from such substances as carbon monoxide, nitrogen dioxide, sulphur dioxide, and particles (CO, NO2, SO2, TSP). The marginal willingness to pay for higher environmental quality is presented for linear and log-log models.

Paper Detail
1093
downloads
1
5543
An Economic Analysis of Phu Kradueng National Park
Abstract:
The purposes of this study were as follows to evaluate the economic value of Phu Kradueng National Park by the travel cost method (TCM) and the contingent valuation method (CVM) and to estimate the demand for traveling and the willingness to pay. The data for this study were collected by conducting two large scale surveys on users and non-users. A total of 1,016 users and 1,034 non-users were interviewed. The data were analyzed using multiple linear regression analysis, logistic regression model and the consumer surplus (CS) was the integral of demand function for trips. The survey found, were as follows: 1)Using the travel cost method which provides an estimate of direct benefits to park users, we found that visitors- total willingness to pay per visit was 2,284.57 bath, of which 958.29 bath was travel cost, 1,129.82 bath was expenditure for accommodation, food, and services, and 166.66 bath was consumer surplus or the visitors -net gain or satisfaction from the visit (the integral of demand function for trips). 2) Thai visitors to Phu Kradueng National Park were further willing to pay an average of 646.84 bath per head per year to ensure the continued existence of Phu Kradueng National Park and to preserve their option to use it in the future. 3) Thai non-visitors, on the other hand, are willing to pay an average of 212.61 bath per head per year for the option and existence value provided by the Park. 4) The total economic value of Phu Kradueng National Park to Thai visitors and non-visitors taken together stands today at 9,249.55 million bath per year. 5) The users- average willingness to pay for access to Phu Kradueng National Park rises from 40 bath to 84.66 bath per head per trip for improved services such as road improvement, increased cleanliness, and upgraded information. This paper was needed to investigate of the potential market demand for bio prospecting in Phu Kradueng national Park and to investigate how a larger share of the economic benefits of tourism could be distributed income to the local residents.
Paper Detail
1206
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