willingness to pay journal

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January 8, 2018

willingness to pay journal

Willingness to pay is a basic economic concept that determines the maximum amount an individual is willing to pay for a specific good or service. This body of literature is characterized by studies that evaluate how and why individuals adopt more sustainable behaviors, what characteristics define the consumer of different green or eco-commodities, and what predicts whether a respondent values sustainable … While this notion is essential to understand market demand, it is too frequently ignored by supply chain practitioners. 612-623. The largest group, 37% (170 respondents) of the sample, showed willingness to pay an extra 1–5%, while the next largest group, 24% (107 respondents), claimed willingness to pay an extra 6–10%. 17, Issue. Purpose The objective of this project is to study the willingness to pay (WTP) for health insurance (HI) of individuals working in the informal sector in Sierra Leone, using a purposely-designed survey of a representative sample of this sector. While studying consumer reference price and willingness to pay, marketing researchers have focused on consumers’ perception about a brand by evaluating several attributes of that brand. The predicted percentage impact indicates that buyers with a monthly income of Rs. Share on facebook. “ Discovering Niche Markets: A Comparison of Consumer Willingness to Pay for Local (Colorado Grown), Organic, and GMO-Free Products.” Journal of Agricultural and … Insufficient staff, inappropriate collection vehicles, limited operating budgets and growing, hard to reach populations mean that solid waste management remains limited in most developing countries; Malawi is no exception. Google Scholar 17, Issue. Sustainable consumption and willingness-to-pay. The willingness to pay for in vitro fertilization-related information and its attributes: a cross-sectional study in Israel. Meyer, Kevin, Immersive Virtual Reality and Willingness to Pay, Journal of Agricultural and Resource Economics, Volume 45, Issue 3, September 2020, Pages 484-495. Journal of Travel & Tourism Marketing: Vol. We estimated the willingness to pay (WTP) for two hypothetical solid waste collection services. Bookmark. Share on linkedin. 40000 and above are 19 percent more likely to pay an additional amount for buying health and wellness food. Twenty-five respondents (5.5%) expressed willingness to pay a premium of more than 10% for hotels’ green initiative efforts. If willingness to pay is an undesirable trait, the effects documented here could be regarded as the n + 1 demonstration of a better-than-average effect. Strahilevitz, Michal (1999), “The Effects of Product Type and Donation Magnitude on Willingness to Pay More for a Charity-Linked Brand,” Journal of Consumer Psychology, 8 (3), 215 – 41. Willingness to pay for contributory health insurance scheme Of the total number of respondents, 82% were willing to pay health insurance premiums. 1, p. Health Services and Outcomes Research Methodology, Vol. This analysis is situated within the literature on sustainable consumption. 1, p. This can be affected by many factors such as marketing and trends, and can often vary massively from consumer to consumer. Methods We elicit the WTP using the Double-Bounded Dichotomous Choice with Follow Up method. 27, No. Willingness to Pay for Biodiversity Conservation. (2010). Health Services and Outcomes Research Methodology, Vol. Psychological researchers, while studying internal reference price, have dealt with different types of psychological effects like attraction effect and compromise effect. 6, pp. Share on twitter. Willingness to pay is positively influenced by the income level of the buyers (β = 0.173, p < 0.05). 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