Assessing Economic Value of Local Festivals for Sustainable Development: A Case of Yeongju Korean Seonbi Culture Festival

2021 ◽  
Vol 13 (23) ◽  
pp. 13297
Author(s):  
Dong-Han Kim ◽  
Jun-Jae Lee ◽  
Hyo-Yeun Park
Keyword(s):  
Willingness To Pay ◽  
Economic Value ◽  
Demographic Factors ◽  
Primary Concern ◽  
Quality Factors ◽  
Development Fund ◽  
Real World Problem ◽  
Site Survey ◽  
Managerial Implications ◽  
Low Levels

Diversity of financial resources is important to increase the sustainability of festivals. This is because even if one of the festival’s resources is stopped by external variables, the festival can be continued with other resources. Local festivals often suffer from low levels of economic independence as a primary concern for their economic sustainability. To solve the aforementioned real-world problem, this study investigated the determinants of festival goers’ willingness to pay for the development fund for the local festival. By using the CVM method, this study initially hypothesized four festival quality factors, three festival related decisions, and four demographic factors in the model. In total, 695 questionnaires were collected from visitors who completed the festival experience through an on-site survey for the Korean Seonbi Culture Festival in Yeongju, Korea. Based on a double-bounded DC CVM, the results of this study showed that festival environment, past visit experience, and demographic factors were significant determinants of festival goers’ willingness to pay for the fund. In addition, it was attempted to estimate the value of this festival through WTP (WTP; willingness to pay). This study offers the foundation for the introduction of a development fund to make the local festival economically sustainable. The theoretical and managerial implications are discussed.

scholarly journals Willingness to Pay for Improved Operations and Maintenance Services of Gravity-Fed Water Schemes in Idjwi Island (Democratic Republic of the Congo)

Water ◽  
2021 ◽  
Vol 13 (8) ◽  
pp. 1050
Author(s):  
Ruben Jimenez-Redal ◽  
Germán Arana-Landín ◽  
Beñat Landeta ◽  
Jaime Larumbe
Keyword(s):  
Willingness To Pay ◽  
Democratic Republic ◽  
Economic Value ◽  
Water Systems ◽  
Conditioning Factors ◽  
Rural Water ◽  
Operations And Maintenance ◽  
Republic Of The Congo ◽  
Log Linear ◽  
Rural Water Systems

Developing understanding of the economic value that communities ascribe to improved operations and maintenance (O&M) services has emerged as a key factor in achieving financial sustainability for rural water systems. The present study elicits household willingness to pay (WTP) for improved O&M services in eight gravity-fed water schemes in Idjwi Island (Democratic Republic of the Congo, DRC). A contingent valuation survey was implemented through an open-ended format questionnaire to 1105 heads of household and a log-linear regression model was employed to assess the factors influencing higher values. Findings show an average willingness to pay of 327 Congolese Francs (CDF) per month and 36 CDF per bucket. Results also indicate a significant WTP differential among studied schemes. The analysis of the conditioning factors reveals that the level of excludability, the participation in management meetings and the time employed in fetching water from an improved source are contingent with their WTP. The findings of this study are important for development agents trying to establish acceptable, affordable and practicable tariffs that help finance reliable rural water systems in Idjwi.

Selection on X-linked Genes During Speciation in the Drosophila athabasca Complex

Genetics ◽  
1996 ◽  
Vol 144 (2) ◽  
pp. 689-703 ◽  
Author(s):  
Michael J Ford ◽  
Charles F Aquadro
Keyword(s):  
Computer Simulation ◽  
Natural Selection ◽  
Molecular Evolution ◽  
Restriction Site ◽  
Neutral Model ◽  
Background Selection ◽  
Selective Sweeps ◽  
Differential Migration ◽  
Site Survey ◽  
Low Levels

Abstract We present the results of a restriction site survey of variation at five loci in Drosophila athabasca, complimenting a previous study of the period locus. There is considerably greater differentiation between the three semispecies of D. athabasca at the period locus and two other X-linked genes (neon-transient-A and E74A) than at three autosomal genes (Xdh, Adh and RC98). Using a modification of the HKA test, which uses fixed differences between the semispecies and a test based on differences in Fst among loci, we show that the greater differentiation of the X-linked loci compared with the autosomal loci is inconsistent with a neutral model of molecular evolution. We explore several evolutionary scenarios by computer simulation, including differential migration of X and autosomal genes, very low levels of migration among the semispecies, selective sweeps, and background selection, and conclude that X-linked selective sweeps in at least two of the semispecies are the best explanation for the data. This evidence that natural selection acted on the X-chromosome suggests that another X-linked trait, mating song differences among the semispecies, may have been the target of selection.

scholarly journals Willingness to Pay for Maintenance of a Nature Conservation Area: A Case of Mount Wilhelm, Papua New Guinea

2016 ◽  
Vol 12 (9) ◽  
pp. 149 ◽  
Author(s):  
Eugene Ezebilo
Keyword(s):  
Willingness To Pay ◽  
Papua New Guinea ◽  
Land Use Planning ◽  
Economic Value ◽  
New Guinea ◽  
Income Group ◽  
High Income Group ◽  
Conservation Area ◽  
Planning And Design ◽  
Logit Regression Model

<p>Ecosystem services that are not traded on markets contribute to human wellbeing however their economic value is not well known and research is required to reveal it. This paper reports on a study of willingness to pay (WTP) for the maintenance of Mount Wilhelm by urban residents and socio-economic factors influencing it. The possibility of developing an ecotourism strategy that could generate benefits for local are discussed. The data were obtained from questionnaire and personal interviews of residents of Kundiawa, which is the capital of Simbu Province, Papua New Guinea. The data were analysed using descriptive statistics and binary logit regression model. The results showed that 92% of the respondents were willing to pay for maintenance of Mount Wilhelm and they would pay an average of 7.4 Papua New Guinea Kina (US$ 2.5) each year. The respondents who belonged to high income group had the highest WTP, followed by those who were willing to give out part of their land for conservation. Approximately 62% of the respondents would pay ≥10 Papua New Guinea Kina (PGK), which is equivalent to the amount charged as access fee to Mount Wilhelm by the locals living around it. The willingness to pay ≥10 PGK was influenced by income, education, importance of forests and willingness to give up land for conservation. The findings will contribute to land use planning and design of nature-based recreation that meets societal demands.</p>

scholarly journals The Economic Values of Utilizing Water Services Way Betung Watershed

2018 ◽  
Vol 6 (3) ◽  
pp. 9
Author(s):  
Hendra Pratama ◽  
Slamet Budi Yuwono ◽  
Hari Kaskoyo ◽  
Samsul Bakri
Keyword(s):  
Power Plant ◽  
Willingness To Pay ◽  
Water Availability ◽  
Economic Value ◽  
Primary Data ◽  
Hydro Power ◽  
Total Economic Value ◽  
Value Of Water ◽  
Forest Rehabilitation ◽  
Economic Value Of Water

Way Betung watershed is a source of raw water supply utilized by the Talang Mulya community for various purposes, such as for household needs, irrigation of paddy farming and micro hydro power plant. Water availability is closely related to the existing forest presence in the area, the forest land management should be in balance on be half of maintaing water availability. This study aimed to determine the perception of the community and to analyze the economic value of water for household needs, irrigation of paddy farming and micro hydro power plant. This research also calculated the Willingness to Pay of forest and land rehabilitation costs by community. Primary data collection were conducted by interviewing 106 respondents. The results showed that the community appraisal of water resources in Way Betung watershed were good since 88% of respondents are willing to pay for forest rehabilitation. The total economic value of water utilization in Talang Mulya Village was Rp.2.963.540.390/year and the value of willingness to pay for forest rehabilitation costs was Rp.5.833.608/year with average willingness to pay was Rp.22.948/year. Keywords: watershed , total economic value, the economic value of water, willingness to pay.

scholarly journals Impact of Intellectual Capital Management and Human Capital Circulation on Business Practice at Macro- and Micro Level

2017 ◽  
Vol 9 (5) ◽  
pp. 6-16 ◽  
Author(s):  
Iryna Oleynikova ◽  
Zhanna Balabaniuk
Keyword(s):  
Human Capital ◽  
Intellectual Capital ◽  
Financial Analysis ◽  
Economic Value ◽  
Weighted Average ◽  
Value Added ◽  
General Acceptance ◽  
Managerial Implications ◽  
Standard Practices ◽  
The Impact

Nowadays the main potential for growth comes from the ability to innovate and succeed with breakthrough ideas. However, despite growing importance of the subject matter, there are still no standard practices that would perform such a measurement and employ tendencies of human capital circulation. Various attempts have been made over recent years, but none have achieved general acceptance among experts in the business field. Although there is no universally accepted theory, each has its own strengths and weaknesses in the deriving approximate value of intellectual capital for various companies. In this work, we looked over some theories that have been suggested to estimate intellectual capital and analyzed data from Ukrainian IT companies in order to prove how important measurement of intellectual capital and human capital circulation trends to allow for much better representation of an organization’s competitive position. Additionally, the impact of intellectual capital on various Key Performance Indicators, such as Economic Value Added and Weighted Average Cost of Capital, was examined with supporting financial analysis performed. The paper concludes with an overview of methodological and managerial implications of the research, theoretical and practical limitations and possible improvements, and considerations for further research in the field of study.

scholarly journals MARKETING PERFORMANCE MEASUREMENT: MARKETING METRICS IN TURKISH FIRMS

2013 ◽  
Vol 14 (Supplement_1) ◽  
pp. S413-S432 ◽  
Author(s):  
Gungor Hacioglu ◽  
Osman Gök
Keyword(s):  
Firm Performance ◽  
Economic Value ◽  
Value Added ◽  
Future Research ◽  
Marketing Metrics ◽  
Marketing Performance ◽  
Customer Lifetime ◽  
Sectoral Differences ◽  
Managerial Implications ◽  
The Relationship

This study explores which metrics are considered important in measuring marketing performance in Turkish firms. In addition, the study examines the effects of sectoral differences and market dynamism, and the relationship between the importance attached to metrics and firm performance. The data collected from a sample of 145 Turkish firms via a structured questionnaire derived from the literature reveals that the most importance is attached to consumers’ attitudes metrics. Economic value added and customer lifetime value are the least important metrics in performance evaluation. No significant relationship occurs between the importance that executives attach to metrics and firm performance. Managerial implications and future research opportunities will be presented at the end. The study is, as far as is known, the first attempt at aiming to explore marketing metrics in Turkey, and one of a limited number of studies in emerging economies.

Returns to education in Russia: Nowhere below?

2021 ◽  
pp. 37-68
Author(s):  
R. I. Kapeliushnikov
Keyword(s):  
Returns To Education ◽  
Tertiary Education ◽  
Economic Value ◽  
Short Cycle ◽  
The Past ◽  
Monitoring Survey ◽  
Low Levels ◽  
Alternative Sources ◽  
Using Data ◽  
Russian Education

The paper presents a wide set of estimates for returns to education in Russia, introducing a number of new sources of microdata that previosly remained unused by both Russian and foreign researchers. Until now virtually all available estimates for Russia were based on data from a single source — The Russia Longitudinal Monitoring Survey — Higher School of Economics (RLMS-HSE). According to these data, since the mid-2000s returns to education rapidly declined and have dropped to abnormally low levels. The paper tests the thesis of ultra-low economic value of Russian education using data from three alternative representative surveys regularly conducted by Rosstat. The analysis shows that currently returns to education in Russia reach 12—13%, which is much higher than the standard RLMS estimates. University-type tertiary education almost doubles earnings (its premium approaches to 100%), and even short-cycle tertiary education provides a premium of about 20—30%. Alternative sources also indicate that over the past 15 years, returns to education in Russia remained stable and, therefore, no decreasing trend in the economic value of education has been observed. This makes it possible to reject the currently popular thesis about abnormally low returns to education in Russia.

I Play, I Pay?

2012 ◽  
Vol 4 (1) ◽  
pp. 19-31 ◽  
Author(s):  
Bo Han
Keyword(s):  
Willingness To Pay ◽  
Success Factors ◽  
Business Models ◽  
Economic Value ◽  
Model Development ◽  
Critical Factor ◽  
Influential Factors ◽  
Perceived Playfulness ◽  
New Business ◽  
Marketing Activities

The user’s willingness to pay has become one of the most important success factors of hedonic social network site new business models and social media marketing activities. In the current study, the author investigates the influential factors of the user’s willingness to pay from the hedonic system use theories and the social capital based view. The author finds that the user’s perceived playfulness, which is considered a critical factor by practitioners, has no significant positive effect on the user’s willingness to pay. Along with other findings, the author has a further discussion on the fun-based business model development. This study provides a theoretical foundation for the future HSNS economic value research and offers several implications to practitioners.

scholarly journals Consumer Needs for Hand-Touch Product Designs Based on the Experience Economy

2019 ◽  
Vol 11 (7) ◽  
pp. 2064 ◽  
Author(s):  
Jui-Che Tu ◽  
Cheng-Hsueh Yang
Keyword(s):  
Product Life Cycle ◽  
Economic Value ◽  
Sensory Stimulation ◽  
Purchase Decisions ◽  
Quality Factors ◽  
Experience Economy ◽  
The Sustainable Development ◽  
Study Results ◽  
Tactile Sensations ◽  
Insight Into

Hand-touch products are products that emphasize tactile sensations. These products can generate sensory stimulation and create memorable experiences for consumers, thereby driving purchase decisions. The economic value of hand-touch products is undoubtedly associated with the experience economy. Consumers generally focus on how much experience value is created by the hand-touch product itself. This study adopted the experience economy perspective to investigate the development of hand-touch products. To gain further insight into consumers’ product needs and place the focus of product development on the most important aspects, this study primarily adopted a questionnaire survey and Kano’s two-dimensional model to classify quality factors. In addition, the relative majority method was used to classify quality factors into five major categories: Attractive quality, One-dimensional quality, Must-be quality, Indifferent quality, Reverse quality. The study results showed that: (1) Consumers valued the sense marketing of hand-touch products. (2) Timely use of other marketing approaches enables a product to effectively meet customers’ needs. (3) Use of Cross Analysis to Identify Top-Priority Factors. This study’s findings on the true needs of consumers for hand-touch products can enhance and improve product life cycle, thereby achieving the sustainable development of products.

scholarly journals Using Internet Surveys to Estimate Visitors’ Willingness to Pay for Coral Reef Conservation in the Kenting National Park, Taiwan

Water ◽  
2019 ◽  
Vol 11 (7) ◽  
pp. 1411 ◽  
Author(s):  
Nathaniel Maynard ◽  
Pierre-Alexandre Château ◽  
Lauriane Ribas-Deulofeu ◽  
Je-Liang Liou
Keyword(s):  
Coral Reef ◽  
Willingness To Pay ◽  
National Park ◽  
Contingent Valuation Method ◽  
Economic Value ◽  
Local Conservation ◽  
Ecological Data ◽  
Conservation Action ◽  
Kenting National Park ◽  
Coral Reef Conservation

Without appropriate conservation action, coral reefs globally continue to degrade, causing declines in economic value. Therefore, their local conservation and quantifying its benefits become increasingly important. However, accurately measuring these values remains expensive or complicated. Leveraging digital survey tools, an interdisciplinary on-line survey was created to estimate willingness to pay (WTP) for coral reef conservation using pictures and ecological data. Using the contingent valuation method we estimate current values as well as changes in value due to restoration or degradation for coral ecosystems in the Kenting National Park (KNP) in Taiwan. Results suggest that conserving degraded coral reef ecosystems leads to larger gains in value than healthier ones. Average WTP estimates a non-market economic value of 680 million US$ per year for the whole KNP marine area. Despite potential self-reporting bias and limits on sample size, these values appear consistent with similar studies and suggest future economic sampling strategies for KNP.

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