This paper estimates the economic values of household preference for enhanced solid waste disposal services in Malaysia. The contingent valuation (CV) method estimates an average additional monthly willingness-to-pay (WTP) in solid waste management charges of €0.77 to 0.80 for improved waste disposal services quality. The finding of a slightly higher WTP from the generic CV question than that o...

We study the "-approximation of linear multivariate problems deened over weighted tensor product Hilbert spaces of functions f of d variables. A class of weighted tensor product (WTP) algorithms is deened which depends on a number of parameters. Two classes of permissible information are studied. all consists of all linear functionals while std consists of evaluations of f or its derivatives. W...

One of the most robust findings in experimental analysis in economics is that subjects often display a large discrepancy between the dollar value they are willing to accept in order to sell an item (WTA) and the dollar value they are willing to pay to purchase it (WTP). We suggest that often when individuals face purchase or sale decisions, the actual private value of an object is uncertain. Th...

In this study, we investigate the formation of bidder’s willingness to pay (WTP) in sequential online auctions. Our findings contribute to the literature of online auctions in the following ways. First, we detect and empirically measure in a real world scenario the WTP updating phenomenon mentioned by Engelbrecht-Wiggans (2000). By considering the environment of multiple sequential auctions of ...

This paper considers the use of spatial microsimulation in the aggregation of regional environmental benefit values. The developed spatial microsimulation model uses simulated annealing to match the Irish Census of Agriculture data to a Contingent Valuation Survey that contains information on Irish farmers’ willingness to pay (WTP) to have the corncrake restored as a common sight in the Irish c...

0377-2217/$ see front matter 2012 Elsevier B.V. A doi:10.1016/j.ejor.2012.01.002 ⇑ Corresponding author. Tel.: +31 50 363 9086; fax E-mail address: [email protected] (S. Gensler). The increasing consideration of behavioral aspects in operations management models has prompted greater use of choice-based conjoint (CBC) studies in operations research. Such studies can elicit consumers’ willingness ...

Stated preference (SP) surveys have been conducted to value non-timber benefits from forests in Norway, Sweden and Finland for about 20 years. The paper first reviews the literature and summarises methodological traditions in SP research in the three countries. Second, a metaregression analysis is conducted explaining systematic variation in Willingness-to-Pay (WTP). Two important conclusions e...

BACKGROUND A 26-valent Group A Streptococcus (GAS) vaccine candidate has been developed that may provide protection against pharyngitis, invasive disease and rheumatic fever. However, recommendations for the use of a new vaccine must be informed by a range of considerations, including parents' preferences for different relevant health outcomes. Our objectives were to: (1) describe parent prefer...

This study compares an ordered probit model and a Tobit model with selection to take into account both true zero and protest zero bids while estimating the willingness to pay (WTP) for conservation easements in Macon County, NC. By comparing the two models, the ordered/unordered selection issue of the protest responses is analyzed to demonstrate how the treatment of protest responses can signif...

2 Naive Surplus Theory 2.1 Consumers who buy 0 or 1 unit I introduce the concept of surplus in one of the simplest models of demand. [This is the model underlying (Bakos and Brynjolfsson, 1999).] Consider a very large population of K consumers facing a market for a single good. Each consumer will buy either one or zero units of this good (per period), depending on the price. Each consumer has a...