scholarly journals The impact of IoT security labelling on consumer product choice and willingness to pay

PLoS ONE ◽  
2020 ◽  
Vol 15 (1) ◽  
pp. e0227800
Author(s):  
Shane D. Johnson ◽  
John M. Blythe ◽  
Matthew Manning ◽  
Gabriel T. W. Wong
Keyword(s):  
Willingness To Pay ◽  
Consumer Product ◽  
Product Choice ◽  
Iot Security ◽  
The Impact

“I” seek differentiation and “we” seek assimilation: the impact of self-expressive customization on consumers’ willingness to pay a premium

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Shaohui Lei ◽  
Xianqing Wang ◽  
Leiqing Peng ◽  
Yulang Guo
Keyword(s):  
Willingness To Pay ◽  
Interactive Effect ◽  
Consumer Product ◽  
Individual Identity ◽  
Content Type ◽  
Shared Identity ◽  
Hypothetical Scenario ◽  
Self Construal ◽  
Product Identification ◽  
The Impact

Purpose Customization, as a crucial way to meet the heterogeneous demand of individuals, exists two fundamental and competing motivations, namely, assimilation and uniqueness. Based on optimal distinctiveness theory, this paper aims to validate the interactive effect of self-expressive customization types (i.e. customization to express individual identity and customization to express a shared identity) and self-construal on consumers’ willingness to pay a premium (WPP). Design/methodology/approach Two studies were conducted to provide empirical support for all proposed hypotheses. The first study (n = 151) uses a hypothetical scenario of a basketball game to test the interaction effect of self-expressive customization and self-construal. The second study (n = 184) assumes a scenario of designing a t-shirt or a uniform to examined the moderated mediating role of consumer-product identification. Findings The results reveal that independent (vs interdependent) self-construal will have stronger consumer-product identification for customization to express an individual identity (vs customization to express a shared identity), thus generating a higher WPP. Also, perceived task difficulty is the boundary condition of the research model. Research limitations/implications This paper makes insightful contributions to the customization literature by strengthening the identity signals of customization and exploring the psychological mechanism and the boundary conditions. Originality/value This research is one of the first few empirical studies to examine the impact of self-expressive customization on consumers’ WPP via the identification with the focal object. This paper not only expands the literature of self-expressive customization but also provides a new research direction for the research of person-object interaction in marketing.

scholarly journals Do millennials value travel time differently because of productive multitasking? A revealed-preference study of Northern California commuters

2021 ◽  
Author(s):  
Aliaksandr Malokin ◽  
Giovanni Circella ◽  
Patricia L. Mokhtarian
Keyword(s):  
Older Adults ◽  
Young Adults ◽  
Willingness To Pay ◽  
Travel Time ◽  
Choice Model ◽  
Mode Choice ◽  
Revealed Preference ◽  
Northern California ◽  
Factors Affecting ◽  
The Impact

AbstractMillennials, the demographic cohort born in the last two decades of the twentieth century, are reported to adopt information and communication technologies (ICTs) in their everyday lives, including travel, to a greater extent than older generations. As ICT-driven travel-based multitasking influences travelers’ experience and satisfaction in various ways, millennials are expected to be affected at a greater scale. Still, to our knowledge, no previous studies have specifically focused on the impact of travel multitasking on travel behavior and the value of travel time (VOTT) of young adults. To address this gap, we use an original dataset collected among Northern California commuters (N = 2216) to analyze the magnitude and significance of individual and household-level factors affecting commute mode choice. We estimate a revealed-preference mode choice model and investigate the differences between millennials and older adults in the sample. Additionally, we conduct a sensitivity analysis to explore how incorporation of explanatory factors such as attitudes and propensity to multitask while traveling in mode choice models affects coefficient estimates, VOTT, and willingness to pay to use a laptop on the commute. Compared to non-millennials, the mode choice of millennials is found to be less affected by socio-economic characteristics and more strongly influenced by the activities performed while traveling. Young adults are found to have lower VOTT than older adults for both in-vehicle (15.0% less) and out-of-vehicle travel time (15.7% less), and higher willingness to pay (in time or money) to use a laptop, even after controlling for demographic traits, personal attitudes, and the propensity to multitask. This study contributes to better understanding the commuting behavior of millennials, and the factors affecting it, a topic of interest to transportation researchers, planners, and practitioners.

scholarly journals The Impact of Environmental Sustainability Labels on Willingness-to-Pay for Foods: A Systematic Review and Meta-Analysis of Discrete Choice Experiments

Nutrients ◽  
2021 ◽  
Vol 13 (8) ◽  
pp. 2677
Author(s):  
Anastasios Bastounis ◽  
John Buckell ◽  
Jamie Hartmann-Boyce ◽  
Brian Cook ◽  
Sarah King ◽  
...  
Keyword(s):  
Willingness To Pay ◽  
Discrete Choice ◽  
Environmental Sustainability ◽  
Purchasing Power Parity ◽  
Meta Analysis ◽  
Choice Experiments ◽  
Discrete Choice Experiments ◽  
Environmental Damage ◽  
Environmentally Sustainable ◽  
The Impact

Food production is a major contributor to environmental damage. More environmentally sustainable foods could incur higher costs for consumers. In this review, we explore whether consumers are willing to pay (WTP) more for foods with environmental sustainability labels (‘ecolabels’). Six electronic databases were searched for experiments on consumers’ willingness to pay for ecolabelled food. Monetary values were converted to Purchasing Power Parity dollars and adjusted for country-specific inflation. Studies were meta-analysed and effect sizes with confidence intervals were calculated for the whole sample and for pre-specified subgroups defined as meat-dairy, seafood, and fruits-vegetables-nuts. Meta-regressions tested the role of label attributes and demographic characteristics on participants’ WTP. Forty-three discrete choice experiments (DCEs) with 41,777 participants were eligible for inclusion. Thirty-five DCEs (n = 35,725) had usable data for the meta-analysis. Participants were willing to pay a premium of 3.79 PPP$/kg (95%CI 2.7, 4.89, p ≤ 0.001) for ecolabelled foods. WTP was higher for organic labels compared to other labels. Women and people with lower levels of education expressed higher WTP. Ecolabels may increase consumers’ willingness to pay more for environmentally sustainable products and could be part of a strategy to encourage a transition to more sustainable diets.

Water Quality Violations and Avoidance Behavior: Evidence from Bottled Water Consumption

2011 ◽  
Vol 101 (3) ◽  
pp. 448-453 ◽  
Author(s):  
Joshua Graff Zivin ◽  
Matthew Neidell ◽  
Wolfram Schlenker
Keyword(s):  
Water Quality ◽  
Drinking Water ◽  
Willingness To Pay ◽  
Water Consumption ◽  
Avoidance Behavior ◽  
Bottled Water ◽  
Poor Water Quality ◽  
Using Data ◽  
The Impact

We examine the impact of poor water quality on avoidance behavior by estimating the change in bottled water purchases in response to drinking water violations. Using data from a national grocery chain matched with water quality violations, we find an increase in bottled water sales of 22 percent from violations due to microorganisms and 17 percent from violations due to elements and chemicals. Back-of-the envelope calculations yield costs of avoidance behavior at roughly $60 million for all nationwide violations in 2005, which likely reflects a significant understatement of the total willingness to pay to eliminate violations.

The impact of hedonic dining experiences on word of mouth, switching intentions and willingness to pay

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Anupama Sukhu ◽  
Anil Bilgihan
Keyword(s):  
Willingness To Pay ◽  
Word Of Mouth ◽  
Internal Validity ◽  
Service Encounters ◽  
Student Sample ◽  
Content Type ◽  
Hedonic Value ◽  
Restaurant Managers ◽  
Positive Word Of Mouth ◽  
The Impact

PurposeWhen customers decide to dine out, they choose a restaurant for both physiological and psychological reasons. The psychological reasons include the hedonic/enjoyment goal of the consumer. The purpose of this paper is to investigate whether dining experiences that provide a positive or negative hedonic value will influence positive word of mouth (PWOM), switching intentions (SI) and willingness to pay (WTP).Design/methodology/approachTwo survey-based experiments using student (N = 112) and general restaurant consumer samples (N = 270) were conducted to test the proposed theoretical model. The student sample provided internal validity, whereas the general consumer sample provided external validity for the study. Two types of manipulations were used to manipulate positive and negative restaurant service encounters. The second study randomly assigned participants into positive or negative scenarios.FindingsThe results suggest that positive (negative) service encounters lead to higher (lower) hedonic value. Higher hedonic value leads to PWOM, WTP and reduced SI. The findings of this study would assist restaurant managers and service scholars by bridging the gap between experiential and relationship marketing.Originality/valueThe current research investigates the dining out experience with a holistic lens.

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