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Book part
Publication date: 30 May 2018

Arne Risa Hole

Patients and health professionals often make decisions which involve a choice between discrete alternatives. This chapter reviews the econometric methods which have been developed…

Abstract

Patients and health professionals often make decisions which involve a choice between discrete alternatives. This chapter reviews the econometric methods which have been developed for modelling discrete choices and their application in the health economics literature. We start by reviewing the multinomial and mixed logit models and then consider issues such as scale heterogeneity, estimation in willingness to pay space and attribute non-attendance.

Details

Health Econometrics
Type: Book
ISBN: 978-1-78714-541-2

Keywords

Article
Publication date: 5 May 2020

Zhao Ding, Awudu Abdulai and Yuansheng Jiang

This article examines the impact of experience on rural households' preferences for microfinance attributes, using household data from Sichuan province in China.

Abstract

Purpose

This article examines the impact of experience on rural households' preferences for microfinance attributes, using household data from Sichuan province in China.

Design/methodology/approach

We use the Bayesian updating method to account for the learning process involved in acquiring experience on microfinance. We then use the generalized multinomial logit model that accounts for both preference and scale heterogeneity to estimate the choice probabilities and impact of experience on preferences and willingness-to-pay (WTP) for microfinance.

Findings

The empirical findings show that experience with microfinance products or lending institutions helps households in their selections of microfinance institutions. In particular, experience with financial institutions increase the scale parameter and help respondents to feel assured about their choices, while experience with individual lenders have no such effects. The results also indicate that the willingness-to-pay estimates vary across experiences, with WTP for installment credit displaying the biggest change and the Bayesian updating making the changes even much larger.

Originality/value

This study contributes to the research gap by taking experience as a latent variable that influences personal specific tastes and as an integral part of total utility of rural households in their decision-making processes. We develop a conceptual framework that is based on McFadden's random utility theory and Bayesian inference.

Details

China Agricultural Economic Review, vol. 12 no. 2
Type: Research Article
ISSN: 1756-137X

Keywords

Content available
Book part
Publication date: 30 May 2018

Abstract

Details

Health Econometrics
Type: Book
ISBN: 978-1-78714-541-2

Article
Publication date: 2 January 2018

Cristina Escobar, Zein Kallas and José M. Gil

Important socioeconomic changes have been undergone due to the international economic crisis. In Catalonia (Spain), political changes towards independentism also occurred within…

Abstract

Purpose

Important socioeconomic changes have been undergone due to the international economic crisis. In Catalonia (Spain), political changes towards independentism also occurred within the same period. The purpose of this paper is to explore the consumers’ wine preferences in Catalonia in two different scenarios. In particular, the authors have focussed the interest in those preferences regarding the regional origin of the wine.

Design/methodology/approach

Data were elicited from two identical discrete choice experiments performed in two times: before (2008) and during the economic crisis (2010) in Catalonia, Spain.

Findings

The results imply that the external common circumstances may have had a homogenising influence in consumer choices by decreasing the level of randomness of consumers’ selection. Consumers’ preferences for a Catalan origin were enhanced during the crisis, while price became the most important attribute.

Research limitations/implications

Ideally, the participants involved in both experiments would have been the same. Unfortunately, this was not possible to maintain and it is one of the limitations of this study. The authors are also aware that other non-controlled variables may have also played a role and the conclusions that are driven should be taken carefully.

Originality/value

This paper contributes to the literature of the discrete choice modelling using the recently developed Generalized Multinomial Logit Model. To the knowledge this is the first application in the literature of wine preferences to measure the impact of the contextual changes (economic and political) in Catalonia (Spain).

Details

British Food Journal, vol. 120 no. 1
Type: Research Article
ISSN: 0007-070X

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Article
Publication date: 14 June 2022

Pandaraiah Gouraram, Phanindra Goyari and Kirtti Ranjan Paltasingh

This paper examines the determinants of concurrent adoption of farm risk management strategies by rice growers in two different ecosystems of Telangana agriculture-irrigated and…

Abstract

Purpose

This paper examines the determinants of concurrent adoption of farm risk management strategies by rice growers in two different ecosystems of Telangana agriculture-irrigated and rainfed ecosystems.

Design/methodology/approach

The primary data have been collected from the rice growers in two different ecosystems, and after checking the variance inflation factor (VIF) for controlling multicollinearity, a multinomial logit model has been used to examine the determinants of concurrent adoption of coping strategies by rice growers.

Findings

The study finds that adopting one risk management strategy persuades farmers to embrace other strategies, reducing the risk in agriculture between the two ecosystems. Among the determinants, farmers' age, education, contact with extension services, irrigation sources, livestock income, total farm income, crop loss reasons, and crop insurance awareness significantly influence the adoption of various risk management measures. However, considerable heterogeneity is found among the driving forces across the rice ecosystems.

Research limitations/implications

The major policy implications that can be drawn from the analysis are increased access to information through government-funded extension services and the provision of alternative risk management technologies, such as drought-resistant or flood-resistant seeds, farmers' field schools and increased provision of crop insurance, farmer-friendly agriculture extension services, and farm investment support, are critical for assisting farmers managing risks. In addition, however, there should be ecosystem-specific policies to tackle the ecosystem heterogeneity.

Originality/value

This paper is very timely and entails some relevant policy implications for the development of Indian agriculture.

Details

Journal of Agribusiness in Developing and Emerging Economies, vol. 14 no. 2
Type: Research Article
ISSN: 2044-0839

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Article
Publication date: 16 May 2019

Johannes Möllmann, Marius Michels and Oliver Musshoff

The outstanding reform of the Common Agriculture Policy allows for changes regarding its most criticized component, the direct payment scheme. The purpose of this paper is to…

Abstract

Purpose

The outstanding reform of the Common Agriculture Policy allows for changes regarding its most criticized component, the direct payment scheme. The purpose of this paper is to investigate farmers’ acceptance of subsidized whole farm income insurance (WFI) and single-crop, multi-peril revenue insurance (RI) that are associated with a reduction of direct payments.

Design/methodology/approach

By applying a generalized multinomial logit model on data of a discrete choice experiment, German farmers’ preferences, expressed as their willingness to pay (WTP), for WFI and RI are revealed.

Findings

The results show a positive WTP for WFI and RI. The average farmer has a higher WTP for WFI than for RI. By increasing the coverage level, the negative influence of a reduction of direct payments on WTP for insurance can be compensated. Individual risk attitude and assessed importance of direct payments for the farm business show a statistically significant influence on the WTP.

Practical implications

The results suggest that, even if direct payments were abolished in order to subsidize WFI or RI, German farmers’ WTP for both insurance products would remain positive. However, to finally assess whether subsidizing insurance is the right means of providing public support, it is necessary to assess whether farmers’ WTP meets the costs for such an insurance scheme.

Originality/value

To the authors’ knowledge, this is the first study investigating German farmers’ WTP for WFI and RI using an experimental approach by explicitly considering the partial to complete replacement of direct payments by subsidized insurance.

Details

Agricultural Finance Review, vol. 79 no. 3
Type: Research Article
ISSN: 0002-1466

Keywords

Article
Publication date: 8 June 2015

Tiziana de-Magistris, Stefano Pascucci and Dimitrios Mitsopoulos

The purpose of this paper is to examine the role of the European Novel Food Regulation (ENFR) on consumers’ acceptance of and willingness to pay (WTP) for radical food…

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Abstract

Purpose

The purpose of this paper is to examine the role of the European Novel Food Regulation (ENFR) on consumers’ acceptance of and willingness to pay (WTP) for radical food innovations. The research question is focussed on determining whether the ENFR is hampering the market potential of insect-based food products in the European Union (EU). The authors position this question within the domain of regulatory barriers related to food innovations.

Design/methodology/approach

Using a choice experiment, the authors assess the presence and relevance of these failures through the analysis of consumers’ acceptance and WTP for insect-based food products with different product attributes directly imposed by the ENFR. Namely, the authors assess the effect of the visualization of insects in the product, the use of logo, and nutritional information.

Findings

The results show that consumers prefer and are willing to pay a premium price for insect-based products with a nutritional health claim and logo, but they are not willing to pay for a product with a visualized insect.

Originality/value

This paper highlights the risk of regulatory failures for novel foods in the EU, such as insect-based food products due to the ENFR.

Details

British Food Journal, vol. 117 no. 6
Type: Research Article
ISSN: 0007-070X

Keywords

Article
Publication date: 8 May 2018

Nguyen H.D. My, Ellen J. Van Loo, Pieter Rutsaert, Tran Huu Tuan and Wim Verbeke

The purpose of this paper is to investigate consumers’ willingness to pay for quality rice attributes in urban areas in the South of Vietnam, including organic and integrated pest…

Abstract

Purpose

The purpose of this paper is to investigate consumers’ willingness to pay for quality rice attributes in urban areas in the South of Vietnam, including organic and integrated pest management (IPM) as sustainable production methods, and claim about health benefits and fair farmer prices.

Design/methodology/approach

Cross-sectional data were collected in 2015 using a survey including a choice experiment (CE) (n=500). Generalized mixed logit models were estimated.

Findings

Vietnamese consumers are willing to pay a premium of 82 percent for organic rice, and 45 percent for rice produced using IPM, compared to conventionally produced rice. They are also willing to pay a premium of 95 percent for rice claiming to be rich in vitamins and other nutrients, and 50 percent for rice that guarantees a fair price to rice farmers.

Research limitations/implications

A hypothetical CE was employed. Future research using revealed preference methods is suggested.

Originality/value

This study makes a significant contribution to the limited existing literature on consumers’ valuation of quality rice attributes in the context of developing countries such as Vietnam. The study shows that rice, that is, sustainably produced using organic or IPM methods provides a promising avenue for rice producers. This study highlights that there is an added value for rice with credence attributes in relation to sustainable production methods, health benefits, and fair farmer prices in a developing country.

Details

British Food Journal, vol. 120 no. 5
Type: Research Article
ISSN: 0007-070X

Keywords

Article
Publication date: 6 June 2016

Keqiang Wang, Hongmei Liu, Wuyang Hu and Linda Cox

Dolphin excursions have become increasingly popular worldwide. Many past studies assessing the value of dolphin excursions use choice-based methods such as the conjoint analysis…

Abstract

Purpose

Dolphin excursions have become increasingly popular worldwide. Many past studies assessing the value of dolphin excursions use choice-based methods such as the conjoint analysis. However, this method is often criticized as being hypothetical. The purpose of this paper is to describe a relatively low cost but effective approach to enhance understanding of consumer preference obtained by conjoint analysis. The method relies heavily on using internet-based survey tools.

Design/methodology/approach

Enabled by an online tool, individuals are asked to self-explicate their preferred alternatives using the same attributes as are found in the conjoint design. The difference between the self-constructed, preferred alternatives and those offered in conjoint experiment are incorporated into choice models. Unlike previous research where only rough estimates can be provided, the proposed method allows precise capture of respondents’ preferred alternative through the automated online survey design.

Findings

Results show that although the extra effort involved in data collection is small, the gain in model fit, choice interpretation, and the value (welfare) estimation is sizeable. Evidence indicates that consumers would be willing to pay up to $50 more for adventurous excursions and guarantees that they will interact with dolphins could worth up to $70 per trip. The approach presented in this paper can also serve as a method to test for preference consistency.

Originality/value

This study is the first using an online survey to assess values associated with dolphin excursion. It describes the benefit of involving online tools to enhance modeling and interpretation of consumer behavior. Applications of internet-based surveys on household consumer products are abundant (such as food and electronics) but this study offers a much less discussed application in environmental service.

Details

Internet Research, vol. 26 no. 3
Type: Research Article
ISSN: 1066-2243

Keywords

Open Access
Article
Publication date: 11 February 2020

Brian T. Ratchford

The purpose of this study is to determine what the history of research in marketing implies for the reaction of the field to recent developments in technology due to the internet…

13162

Abstract

Purpose

The purpose of this study is to determine what the history of research in marketing implies for the reaction of the field to recent developments in technology due to the internet and associated developments.

Design/methodology/approach

This paper examines the introduction of new research topics over 10-year intervals from 1960 to the present. These provide the basic body of knowledge that drives the field at the present time.

Findings

While researchers have always borrowed techniques, they have refined them to make them applicable to marketing problems. Moreover, the field has always responded to new developments in technology, such as more powerful computers, scanners and scanner data, and the internet with a flurry of research that applies the technologies.

Research limitations/implications

Marketing will adapt to changes brought on by the internet, increased computer power and big data. While the field faces competition for other disciplines, its established body of knowledge about solving marketing problems gives it a unique advantage.

Originality/value

This paper traces the history of academic marketing from 1960 to the present to show how major changes in the field responded to changes in computer power and technology. It also derives implications for the future from this analysis.

Propósito

El objetivo de este estudio es examinar qué implica la historia de la investigación académica en marketing en la reacción del campo de conocimiento a los recientes desarrollos tecnológicos como consecuencia de la irrupción de Internet.

Metodología

Esta investigación analiza la introducción de nuevos temas de investigación en intervalos de diez años desde 1960 hasta la actualidad. Estos periodos proporcionan el cuerpo de conocimiento básico que conduce al ámbito del marketing hasta el presente.

Hallazgos

Aunque los investigadores tradicionalmente han tomado prestadas ciertas técnicas, las han ido refinando para aplicarlas a los problemas de marketing. Además, el ámbito del marketing siempre ha respondido a los nuevos desarrollos tecnológicos, más poder de computación, datos de escáner o el desarrollo de Internet, con un amplio número de investigaciones aplicando tales tecnologías.

Implicaciones

El marketing se adaptará a los cambios provocados por Internet, aumentando el poder de computación y el big data. Aunque el marketing se enfrenta a la competencia de otras disciplinas, su sólido cuerpo de conocimiento orientado a la resolución de problemas le otorga una ventaja diferencial única.

Valor

Describe la historia académica del marketing desde 1960 hasta la actualidad, para mostrar cómo los principales cambios en este campo respondieron a los cambios tecnológicos. Se derivan interesantes implicaciones para el futuro.

Palabras clave

Historia, Revisión, Cambio, Tecnología, Conocimiento, Internet, Datos, Métodos

Tipo de artículo

Revisión general

Details

Spanish Journal of Marketing - ESIC, vol. 24 no. 1
Type: Research Article
ISSN: 2444-9709

Keywords

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