Search results

This paper aims to study the value of informal care (IC) time from the perspective of caregivers using two alternative contingent valuation tools – willingness to pay (WTP) and willingness to accept (WTA) – and to identify the variables that affect the stated values.

The authors used data from a multi-centre study of 610 adult caregivers conducted in two Spanish regions in 2013. The existence of “protest zeros” and “economic zeros” because of the severe budgetary constraints of the households was also considered. Two-part multivariate models were used to analyse the main factors that explained the declared values of WTA and WTP.

The average WTP and WTA were €3.12 and €5.98 per hour of care, respectively (€3.2 and €6.3 when estimated values for “protest zeros” and “economic zeros” were considered). Some explanatory variables of WTA and WTP are coincident (place of residence and intensity of care time), whereas other variables only help to explain WTP values (household and negative coping with caregiving) or WTA values (age and burden of care). Some nuances are also identified when comparing the results obtained without protest and economic zeros with the estimated values of these special zeros.

Studies analysing the determinants of WTP and WTA in IC settings are very scarce. This paper seeks to provide information to fill this gap. The results indicate that the variables that explain the value of IC from one perspective may differ from the variables that explain it from an alternative perspective. Given the relevance of contextual factors, studies on the topic should be expanded, and care should be taken with the extrapolation of results across countries and settings.

With the rapid economic development, China has been increasingly paying special attention to its sports and health industries. In October 2014, the State Council raised the goal to upscale the sports industry to the net worth of 5 trillion yuan by 2025. To gain further insights into the current development of tennis in China, especially the development of Women’s Tennis Association (WTA) tennis competitions, an interview with the director of Wuhan Opening Fabrice Chouquet and Mr Guoqing Yi of Wuahan Sport Investment Inc. was conducted. The paper aims to discuss these issues.

To gain further insights into the current development of tennis in China, especially the development of WTA tennis competitions, an interview with the director of Wuhan Opening Fabrice Chouquet and Mr Guoqing Yi of Wuahan Sport Investment Inc. was conducted.

The interview comprised a series of topics including motivators of tennis industries in China, the strategic position of China for WTA development, WTA choice of hosting city, effects of WTA competition events toward the hosting city, and the operation of WTA tennis competitions. Integrating the aforementioned topics with Wuhan Tennis Open, the interviewees also provided suggestions toward the future development of tennis industry in China.

This study has several limitations that are of concern to researchers in the future. First, the interviewees of this research came from Wuhan Tennis Open. Though Mr Fabrice used to be the managing director of WTA in Asia, he only knows about women tennis in China, and his viewpoints have their own limitation. Therefore, the interviewee in the future has to be the person who could hold the opinion on tennis development in China at the macro scale. Second, the questions in the interview have a wide scale, but lack depth and penetration. For instance, the interview only relates to the motive of tennis development but does not go deeply into the relation between the above two aspects. Moreover, it mentions the problems related to the tennis development. It only concentrates on the tennis tournaments but does not discuss the tennis culture and the industry. These questions need to be considered when the authors research on the development of tennis in China in the future.

Through the analysis on WTA and tennis in China, the authors can understand the development of sports in China and the Chinese sports industry in recent years.

The authors investigate cocoa farmers' willingness and motivation to participate in agritourism entrepreneurship in Ghana.

Primary data were obtained from 583 cocoa farmers. Contingent valuation method, ordered probit and truncated regressions were employed.

Cocoa farmers' willingness to participate in agritourism was high. The minimum fee farmers were willing to charge per tourist per day ranged from US$0.870 to US$6.957. Agritourism products farmers were willing to offer to tourists are interaction with rural folks, indigenous cuisine, quality locally stored drinking water, indigenous primary healthcare and on-site restrooms. Cocoa farmers' motivations to participate in agritourism are income generation, alternative livelihood strategy and education. Education, being a native, farm size, motorable roads to farm, and distance to farm influence minimum fee farmers were willing to accept to participate in agritourism.

Agritourism could be considered in rural and tourism development policies of developing countries.

The authors investigate cocoa farmers' participation in agritourism, motivations and determinants of willingness to participate.

We investigate discrepancies between willingness to pay (WTP) and willingness to accept (WTA) in the context of a stated choice experiment. Using data on customer preferences for water services where respondents were able to both ‘sell’ and ‘buy’ the choice experiment attributes, we find evidence of non-linearity in the underlying utility function even though the range of attribute levels is relatively small. Our results reveal the presence of significant loss aversion in all the attributes, including price. We find the WTP–WTA schedule to be asymmetric around the current provision level and that the WTP–WTA ratio varies according to the particular provision change under consideration. Such reference point findings are of direct importance for practitioners and decision-makers using choice experiments for economic appraisal such as cost–benefit analysis, where failure to account for non-linearity in welfare estimates may significantly over- or under-state individual's preferences for gains and avoiding losses respectively.

This study, using a contingent valuation approach, aims to shed light on the economic evaluation of online learning during the first wave of the pandemic.

A sample of 959 higher education students was asked about their willingness-to-accept (WTA) a monetary compensation for the loss of well-being resulting from the unexpected and mandatory transition to the online space. In explaining WTA determinants, the authors test the appropriateness of the double-hurdle model against the alternative of a Tobit model and find that the factors affecting the participation decision are not the same as those that affect the quantity decision.

Results show that a vast majority of the respondents think that the abrupt transition to online learning is detrimental to them, while those willing to accept a monetary compensation account for 77% of the sample, being the mean WTA between €448 and €595. As expected, WTA decreases with income and age, and it increases if some member of the family unit is unemployed. By aggregating the mean WTA by the population affected, total loss of well-being is obtained.

To the best of the authors’ knowledge, to date, this method has not been used to value online learning in a WTA framework, much less in the particular context of the pandemic. Thus, based on the understanding that the economic evaluation of online learning could be very useful in providing guidance for decision-making, this paper contributes to the literature on the economic evaluation of higher education.

Firepower conflicts usually decay the firepower plan's enforceability, thus incurring high survival risks. Previous studies have shown little attention to avoiding firepower conflicts during the weapon target assignment process. This research proposes a new constrained optimization model named Firepower Conflict Free WTA (FCFWTA) and designs a Survival Evolution (SE) strategy for Artificial Fish Swarm Algorithm (AFSA) to solve the complex constrained WTA problem. In this way, commanders can get more reliable firepower assignment decision support.

A new constrained optimization model named Firepower Conflict Free WTA (FCFWTA) is constructed. FCFWTA unifies firepower decision variables for different kinds of weapons and takes the firing time point as a clue for firepower conflict checking. The objective function of FCFWTA is the weighted sum of the minimum threat value rest rate (RRTV), maximum hit efficiency (HE) and minimum latest interception time percentage (PLT). Since previous algorithms do not check and resolve intermediate results during optimization, an adapted strategy named Survival Evolution is designed. It enables making full use of the limited firepower without adjusting the coordination scenario in execution.

The proposed method offers significant advantages in two aspects. Firstly, it effectively enhances the optimization results of WTA in the absence of firepower conflicts. Evidence from Figure. 6 confirms that without the proposed method, there is a high likelihood of generating invalid outcomes. After implementing firepower conflict check and resolution, there is a substantial degradation in the objective function value. Secondly, the method excels at equitably distributing firepower among multiple targets while also enhancing the overall interception probability, irrespective of the varying complexities presented by different scenarios. This ability to maintain balance and efficiency is crucial for tackling defense-related issues.

Specifically, SE is tailored for MWMT problem under time and space constraints. This approach diverges significantly from conventional MWMT research, which typically focuses solely on ammunition quantity or firing range. Consequently, the primary objective was to verify the efficacy of this method. Test results indicated that SE does not exhibit uniform performance across different algorithms; while it significantly enhances the efficacy with PSO and AFSA, its influence is considerably diminished when applied to GA. It might be attributed to the inherent randomness associated with crossover and mutation, which can increase the likelihood of firepower conflicts, coupled with SE's reorganization of the chromosome.

The work described was original research that has not been published previously, and not under consideration for publication elsewhere, in whole or in part.

What if companies try to combine the IKEA and Trophy winner effects? The purpose of this study is to understand the similarities and differences between both effects. This is not only theoretically but also practically important for the way that companies interact with their customers.

Successful work – invested either to create or to obtain a product – increases the customers’ valuation of the product. This phenomenon known as the IKEA or Trophy winner effect. This study directly compares both effects using experiments with two different products (paper planes and 3D puzzles). Moreover, this study tests whether they reinforce each other.

The Trophy winner effect looms larger than the IKEA effect for inexpensive items. For slightly more expensive products, this study finds a Trophy loser effect. Positive emotions of trophy winners drive the results for inexpensive products, whereas negative emotions of trophy losers drive the results for slightly more expensive products.

The relevance of the IKEA and Trophy effects is influenced by the type of product. Customers’ labor invested in the product itself is of greater importance the more expensive the product is. As soon as customers interpret the interaction with other customers as competition, the effect on valuation can be substantial even for inexpensive products. Future studies could try to replicate our results with different product categories.

Although the IKEA and Trophy effects are no new phenomena in consumer psychology and behavioral economics, they have not been compared to each other or combined yet. The results are useful for researchers and practitioners alike. They yield implications for product customization and customer empowerment.

The paper aims to analyse whether experiencing a supply interruption affects the valuation of security of electricity supply.

A blackout in Munich, Germany, in November 2012 is utilised as a natural experiment by conducting a contingent valuation survey around two months after the event. The characteristics of the supply interruption allow for distinguishing between households that were affected by the blackout and those who were not. This provides the opportunity to compare the willingness to pay (WTP) for avoiding and the willingness to accept (WTA) for enduring a supply interruption between affected and non-affected Munich households.

The results show that households who were affected by the outage had a higher WTP for avoiding a hypothetical supply interruption. Although affected households also had a higher WTA for enduring an outage, the WTA-differences between the two groups are not statistically significant. Furthermore, the results indicate that experience with power outages can increase the perceived relevance of the policy objective “security” at the expense of the objective “environmental sustainability”.

The paper contributes to the literature in three general respects. First, the assessment of the relationship between outage experience and the valuation of supply security is based on a natural experiment which avoids most of the shortcomings of previous studies. Second, the paper uses both the WTP and the WTA measure to approximate the valuation of supply security and discusses the differences in their outcomes. Third, these monetary valuations are complemented and compared with general attitudes towards a reliable electricity system.

The purpose of this paper is to evaluate the market potential of food obtained from olive by-products. The marketing of such by-products (e.g. olive leaves and pulp) is a challenging opportunity for the sustainable development of the sector. Yet, consumer demand is still poorly understood. The paper contributes to filling the knowledge gap with an empirical survey of a sample of Italian consumers.

The authors provide an assessment of consumers’ willingness to accept (WTA) food from olive by-products. The authors collected structured questionnaire from a sample of 289 Italian consumers. The authors asked to consumers their willingness to try a variety of food products containing olive by-products, as a proxy for their WTA the products. In order to investigate the drivers of the average WTA, the authors used the information in the questionnaire to build four constructs of interest: technophobia, neophobia, perception of benefits and awareness about sustainable consumption. The choice of the constructs and the variables was driven by the existing literature.

The paper shows how the WTA food with olive by-products is a general attitude of the consumer, rather than product-specific choice. The results suggest that consumers perceive the use of olive by-products as a new technology for preparing well-known food products. The authors did not find statistical evidence of the wariness of olive by-products as new food products. Technophobia is the most important factor hampering the marketing of olive by-products.

The paper is a first attempt of exploring the topic of WTA food with olive by-products.