scholarly journals Theoretical Background

2020 ◽  
pp. 1-6
Author(s):  
Petr Mariel ◽  
David Hoyos ◽  
Jürgen Meyerhoff ◽  
Mikolaj Czajkowski ◽  
Thijs Dekker ◽  
...  
Keyword(s):  
Willingness To Pay ◽  
Utility Function ◽  
Welfare Economics ◽  
Theoretical Background ◽  
Willingness To Accept ◽  
Random Utility ◽  
Mathematical Notation ◽  
Indirect Utility ◽  
Key Aspects ◽  
Compensating Surplus

AbstractThis chapter starts by briefly presenting the theoretical background of welfare economics and introducing key aspects such as the indirect utility function, the expenditure function, or the concepts of compensating surplus or equivalent surplus. Next, it draws attention to willingness to pay and willingness to accept, essential measures in environmental valuation. Finally, the chapter summarises the basic mathematical notation of the random utility maximisation models used throughout the book.

Hijabista willingness to accept premium pricing: an analytical study of the effect of social and self-identity on hijab fashion brands satisfaction

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Alshaimaa Bahgat Alanadoly ◽  
Suha Fouad Salem
Keyword(s):  
Willingness To Pay ◽  
Product Design ◽  
Consumer Satisfaction ◽  
Willingness To Accept ◽  
Fashion Industry ◽  
Content Type ◽  
Self Identity ◽  
Fashion Products ◽  
Practical Implications ◽  
Brand Satisfaction

Purpose This paper aims to study the predictors influencing hijabista satisfaction towards Hijab fashion brands and their willingness to pay premium pricing as fashion consumers. The effects of product design, product quality, social and self-identity have been studied in relation to product, and brand satisfaction is believed to have led to acceptance of premium pricing. Various factors have been studied and analysed to provide a better understanding of Hijab fashion consumer behaviour. Design/methodology/approach Data were collected by using online structured surveys distributed within the area of Shah Alam City in Malaysia. Convenience sampling was used in defining the 223 target respondents, and the collected data was analysed using Smart-PLS Software. Findings The results highlighted that product design has the largest influence on the willingness of hijabistas in paying premium prices, followed by products that reflect their social-identity while communicating their religious obligations and commitments. Communicating one’s self-identity was also found not to have a significant impact which relates to the importance of the religious and social commitments on hijabista purchasing choices rather than their own self-conceptual image. Practical implications This paper provides insights on the factors that affect hijabista satisfaction towards Hijab fashion products and brands. Conclusions provided are very relevant to the practices of the fashion industry, and in particular, for designers to understand the needs of this large and significant segment of the fashion market. Originality/value Hijab fashion is a growing segment in the fashion industry, and it has been gaining recent global attention. Designers need to be more aware of the requirements of this segment of the fashion market. This research focusses on Hijab consumer satisfaction and how this reflects their willingness to pay premium prices for chosen products and brands. Factors such as product design and quality, along with social and self-identity, were studied in connection with hijabista willingness to accept premium pricing. Such connections and terms have not been covered in previous literature.

scholarly journals Hicksian Welfare Measures and the Normative Endowment Effect

2010 ◽  
Vol 2 (4) ◽  
pp. 171-194 ◽  
Author(s):  
Thomas A Weber
Keyword(s):  
Utility Function ◽  
Sufficient Conditions ◽  
Endowment Effect ◽  
Indirect Utility ◽  
Compensating Variation ◽  
Equivalent Variation ◽  
Indirect Utility Function ◽  
Welfare Measures ◽  
Empirical Implications ◽  
Hicksian Welfare

We show that the Hicksian welfare measures of compensating variation and equivalent variation coincide if one of them is evaluated at a compensated income. The measures are nondecreasing in income if the varied attribute and income are complementary, and indirect utility is concave in income. Income monotonicity implies the normative endowment effect, where the equivalent variation exceeds the compensating variation. We provide sufficient conditions for the normative endowment effect and discuss empirical implications. In the global absence of a strict (anti-) endowment effect, both Hicksian welfare measures must be independent of income and the indirect utility function additively separable in income. (JEL D11, D63)

scholarly journals Kajian pengembangan imbal jasa lingkungan di daerah aliran sungai (DAS) Kampar

2020 ◽  
pp. 389-402
Author(s):  
Mohd Yunus ◽  
Agus Haryanto
Keyword(s):  
Willingness To Pay ◽  
Willingness To Accept

Kajian ini bertujuan menjajaki pengembangan imbal jasa lingkungan di daerah aliran sungai (DAS) Kampar. Objek yang dikaji adalah nilai keinginan membayar (Willingness to Pay/WTP) dan nilai keinginan menerima (Willingness to Accept/WTA). Subjek dalam kajian ini adalah pelanggan PLN dan PDAM Tirta Kampar. Nilai WTP pelanggan PLN sebesar Rp895.462.286 per bulan atau sekitar Rp10.745.547.432 per tahun. Sementara nilai WTP pelanggan PDAM sebesar Rp16.919.039 per bulan atau sekitar Rp203.028.472 per tahun. Nilai WTP total adalah sebesar Rp10.948.575.904 per tahun. Nilai WTA responden adalah Rp5.900/pohon/tahun. Nilai WTP pemanfaat air sebesar Rp10.948.575.904 per tahun dapat digunakan untuk kegiatan konservasi secara vegetatif dan sipil teknis.

scholarly journals Twisting the truth: Foundations of wishful thinking

2020 ◽  
Vol 15 (3) ◽  
pp. 989-1022
Author(s):  
Matthew Kovach
Keyword(s):  
Willingness To Pay ◽  
Risk Sharing ◽  
Choice Behavior ◽  
Exchange Economy ◽  
Status Quo ◽  
Wishful Thinking ◽  
Willingness To Accept ◽  
Considerable Evidence ◽  
The Status ◽  
Future Outcomes

Considerable evidence shows that people have optimistic beliefs about future outcomes. I present an axiomatic model of wishful thinking (WT), in which an endowed alternative, or status quo, influences the agent's beliefs over states and thus induces such optimism. I introduce a behavioral axiom formalizing WT and derive a representation in which the agent overweights states in which the endowment provides a higher payoff. WT is a novel channel through which an endowment may influence choice behavior and provides a coherent explanation for a variety of observed behavior, including choice reversals among nonstatus quo alternatives when the status quo changes. WT leads to inefficient risk sharing in an exchange economy and has unique implications for the gap between willingness to accept and willingness to pay for endowed goods.

Postpsychiatry and postmodern psychotherapy: Theoretical and ethical issues in mental health care in a Polish context

2018 ◽  
Vol 28 (6) ◽  
pp. 780-799 ◽  
Author(s):  
Radosław Stupak ◽  
Krzysztof Dyga
Keyword(s):  
Mental Health ◽  
Ethical Issues ◽  
Therapeutic Process ◽  
Historical Context ◽  
Theoretical Background ◽  
Social Contexts ◽  
Ethical Challenges ◽  
To Come ◽  
Key Aspects

The article reconstructs postpsychiatry’s core propositions and briefly describes its theoretical background and assumptions. It also presents chosen aspects of postmodern psychotherapy, which seem to be in many ways similar to postpsychiatry’s ideas. Although they are drawn from different inspiration, postpsychiatry and postmodern psychotherapy seem to come to similar conclusions, especially regarding the role of the patient in the therapeutic process, the meaning of psychiatric diagnosis, and the importance of the institutional, cultural, and social contexts in mental health practice and research. The paper also aims to place postpsychiatry and postmodern psychotherapy in a Polish context, focusing on the ethical challenges faced by psychiatry and showing that some of postpsychiatry’s ideas and solutions to contemporary problems were already present in the Polish psychiatric literature of the 20th century. It also contains a brief description of the Polish social and historical context of psychiatry, as well as key aspects of the Polish legal system that relate to mental health and seem to reflect the nature of biomedical explanations of mental distress. It concludes that the model of psychiatric care postulated by “postmodern” approaches seems more ethical and scientifically and philosophically grounded and promises better treatment results than the “traditional” biomedical model.

Demand and supply of agricultural ES: towards benefit-based policy

2020 ◽  
Vol 47 (3) ◽  
pp. 1223-1249 ◽  
Author(s):  
Annika Tienhaara ◽  
Emmi Haltia ◽  
Eija Pouta ◽  
Kyösti Arovuori ◽  
Ioanna Grammatikopoulou ◽  
...  
Keyword(s):  
Water Quality ◽  
Ecosystem Services ◽  
Environmental Policy ◽  
Willingness To Pay ◽  
Discrete Choice ◽  
Choice Experiment ◽  
Willingness To Accept ◽  
Demand And Supply ◽  
Experiment Method ◽  
Almost All

Abstract In order to integrate ecosystem services (ES) in designing agri-environmental policy, we investigated both the demand for, and supply of, ES from agricultural environments in Finland. Using the discrete choice experiment method, we measured citizens’ willingness to pay (WTP) for four different ES and analysed farmers’ compensation request (willingness to accept [WTA]) for producing these services. Biodiversity and water quality gathered the highest WTA of farmers, but also the highest WTP of citizens. Overall, the average WTA exceeded the WTP for almost all attributes and levels, but 20–27 per cent of farmers were willing to produce the ES with the compensation lower than citizens’ WTP.

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