scholarly journals Fishing location choice and risk preferences among small fishers – Implications for fisheries management policies

2020 ◽  
Vol 15 (2) ◽  
pp. 140-156
Author(s):  
Riad Sultan ◽  
Keyword(s):  
Fisheries Management ◽  
Risk Preferences ◽  
Random Parameter ◽  
Management Policy ◽  
Linear Utility ◽  
South West Coast ◽  
Random Parameter Logit ◽  
Management Policies ◽  
Expected Revenue ◽  
Random Parameter Logit Model

The study provides evidence for how risk preferences determine fishing location choices by artisanal fishers on the south-west coast of the island of Mauritius. Risk preference is modelled using a random linear utility framework defined over mean-standard deviation space. The study estimates expected revenue and revenue risk from the Just and Pope production function and applies the random parameter logit model to account for fisher-specific and location-specific characteristics. The findings are consistent with utility-maximising fishers, whereby the likelihood to choose a fishing location is positively associated with expected revenue and negatively related to revenue risk. Distance from fishing station to fishing grounds affects the choice of fishing location negatively. The estimated model allows heterogeneity in risk preferences and concludes that 51% of fishers can be classified as risk averse, 31% as risk seekers and the remaining as risk neutral. The study also estimates the degree of substitutability and complementarity between fishing locations based on the risk preferences of fishers and discusses the relevance of this for fisheries management policy.

scholarly journals Taste Beats Reputation in New Food Products Choice: The Case of Ready-to-Eat Pomegranate among Young Consumers in Veneto Region (Italy)

Horticulturae ◽  
2021 ◽  
Vol 7 (7) ◽  
pp. 179
Author(s):  
Alice Stiletto ◽  
Erika Rozzanigo ◽  
Elisa Giampietri ◽  
Samuele Trestini
Keyword(s):  
Discrete Choice ◽  
Choice Experiment ◽  
Consumer Preferences ◽  
Random Parameter ◽  
Food Products ◽  
Sensory Features ◽  
Young Consumers ◽  
Random Parameter Logit ◽  
Italian Origin ◽  
Random Parameter Logit Model

This study investigates the preferences for ready-to-eat pomegranate arils in Italy through a discrete choice experiment (DCE) on 264 young consumers in Italy. The aim is to estimate consumers’ willingness to pay (WTP) for the reputational attributes of the product (e.g., the product origin and sales channel) and to discriminate the elicited preferences between tasting and non-tasting situations. To this purpose, a random parameter logit model was employed to assess the heterogeneity in consumer preferences. The results suggest that non-tasters attach a relevant value to the reputational attributes (e.g., +75% WTP for Italian origin). Moreover, considering the sensory features of the products, we found that consumers in this group discriminate against the proposed samples only through their visual characteristics: they prefer the sample with the largest size and red colored arils. In addition, we found that the tasting experience reduced the value attached to the reputational attributes (e.g., −50% WTP for local origin) for consumers, compared to non-tasting situation, thus shifting their preference to the samples that they appreciated the most (high liking). Specifically, we found that consumers in the tasting group preferred the product sample with the highest level of sweetness and the lowest level of sourness and astringency, showing a higher preference for sweetness. The findings contribute to the literature on consumers’ behavior on new food products (NFPs), showing that reputational attributes lose value after the tasting experience. In contrast, the sensory features of the NFPs can help tasters to reduce the information asymmetry, which traditionally represents a hurdle in purchases for new consumers. However, this depends on the individuals’ subjective preferences, as demonstrated by the significant effect of liking levels in discriminating consumers’ choices. To conclude, although these results cannot be extended to the general population, they may give some interesting insights about future trends of NFP demand.

scholarly journals The Effects of Life Course Events on Car Ownership and Sustainable Mobility Tools Adoption Decisions: Results of an Error Component Random Parameter Logit Model

2021 ◽  
Vol 13 (12) ◽  
pp. 6816
Author(s):  
Gaofeng Gu ◽  
Tao Feng ◽  
Chixing Zhong ◽  
Xiaoxi Cai ◽  
Jiang Li
Keyword(s):  
Life Course ◽  
Logit Model ◽  
Random Parameter ◽  
Error Component ◽  
Car Ownership ◽  
Sustainable Mobility ◽  
Car Sharing ◽  
Random Parameter Logit ◽  
Electric Bike ◽  
Random Parameter Logit Model

Life course events can change household travel demand dramatically. Recent studies of car ownership have examined the impacts of life course events on the purchasing, replacing, and disposing of cars. However, with the increasing diversification of mobility tools, changing the fleet size is not the only option to adapt to the change caused by life course events. People have various options with the development of sustainable mobility tools including electric car, electric bike, and car sharing. In order to determine the impacts of life course events on car ownership and the decision of mobility tool type, a stated choice experiment was conducted. The experiment also investigated how the attributes of mobility tools related to the acceptance of them. Based on existing literature, we identified the attributes of mobility tools and several life course events which are considered to be influential in car ownership decision and new types of mobility tools choice. The error component random parameter logit model was estimated. The heterogeneity across people on current car and specific mobility tools are considered. The results indicate people incline not to sell their current car when they choose an electric bike or shared car. Regarding the life course events, baby birth increases the probability to purchase an additional car, while it decreases the probability to purchase an electric bike or joining a car sharing scheme. Moreover, the estimation of error components implies that there is unobserved heterogeneity across respondents on the sustainable mobility tools choice and the decision on household’s current car.

What are tourists willing to pay for securing the survival of a flagship species? The case of protection of the Ethiopian wolf

2019 ◽  
pp. 135481661988043 ◽  
Author(s):  
Tafesse Estifanos ◽  
Maksym Polyakov ◽  
Ram Pandit ◽  
Atakelty Hailu ◽  
Michael Burton
Keyword(s):  
Protected Area ◽  
Choice Experiment ◽  
National Park ◽  
Prior Experience ◽  
Random Parameter ◽  
Wolf Population ◽  
Existence Value ◽  
Random Parameter Logit ◽  
Unique Species ◽  
Random Parameter Logit Model

Ecotourism can be an important tool for protecting biodiversity in developing countries. Tourists have preferences for viewing charismatic species and for their conservation, but our understanding of these preferences remains limited. Using choice experiment surveys, we investigate tourists’ preferences and willingness to pay (WTP) for the protection of the Ethiopian wolf ( Canis simensis) in Ethiopia’s Bale Mountains National Park. Results from a random parameter logit model show that tourists were willing to pay up to US$5.82/day/trip for increasing the wolf population from 200 to a more viable number of 250 but very little for a more substantial increase. Tourists also valued increases in the size of the protected area (PA) and access to the wolf habitat. The WTP is found to be dependent on tourists’ prior experience to Ethiopian PAs and whether they had viewed other unique species in the park. The findings suggest opportunities for ecotourism to support the Ethiopian wolf, which is in a critical state, and that the primary motivation for tourists’ support might be due to the wolf’s existence value.

scholarly journals U.S. Consumers' Willingness to Pay for Food Labeled ‘Genetically Modified’

2006 ◽  
Vol 35 (2) ◽  
pp. 299-310 ◽  
Author(s):  
Benjamin Onyango ◽  
Rodolfo M. Nayga ◽  
Ramu Govindasamy
Keyword(s):  
Logit Model ◽  
Genetically Modified ◽  
Random Parameter ◽  
Nationwide Survey ◽  
Choice Modeling ◽  
Modeling Framework ◽  
A Value ◽  
Label Information ◽  
Random Parameter Logit ◽  
Random Parameter Logit Model

This study analyzes U. S. consumers' choice of cornflakes under five different labeling statements. Using a nationwide survey and choice modeling framework, results indicate that consumers value labeling statements differently, depending on the information contained on the label. The random parameter logit model results indicated that, compared to cornflakes that have no label information, cornflakes labeled “contains no genetically modified com” have a value of 10 percent more, the label “USDA approved genetically modified com” has a value of 5 percent more, and the label “com genetically modified to reduce pesticide residues in your food” has a value of 5 percent more. The results also suggest that consumers negatively valued the label “contains genetically modified com,” paying 6.5 percent less, and the label “may contain genetically modified com,” paying 1 percent less than the product that has no label information.

scholarly journals The Bundling Strategy: The One-Click Effect on Loss Aversion

2019 ◽  
Vol 44 (4) ◽  
pp. 704-712 ◽  
Author(s):  
Juan Luis Nicolau ◽  
Ricardo Sellers
Keyword(s):  
Loss Aversion ◽  
Logit Model ◽  
Random Parameter ◽  
Expected Loss ◽  
Random Parameter Logit ◽  
The One ◽  
Different Levels ◽  
Price Responsiveness ◽  
Random Parameter Logit Model ◽  
Airline Ticket

This research aims to determine different levels of loss aversion in the context of price responsiveness and service bundling. Considering that nonlinearities in price responses may exist in a bundling strategy, this research tests the existence of different degrees of loss aversion, depending on whether an individual books one service independently of another (e.g., an airline ticket independently of accommodation) or as part of a bundle (e.g., a package that includes an airline ticket plus accommodation). We estimate a random parameter logit model. Empirical application shows that people who book a flight independently of accommodation are more loss averse than those who book a package that includes flight and accommodation. To explain this result, we propose the one-click effect so that people who find a price higher than expected (loss aversion) are more willing to accept it if the product is included in a bundle.

scholarly journals Can I Trust You? Estimation Models for e-Bikers Stop-Go Decision before Amber Light at Urban Intersection

2020 ◽  
Vol 2020 ◽  
pp. 1-17
Author(s):  
Jing Cai ◽  
Jianyou Zhao ◽  
Yusheng Xiang ◽  
Jing Liu ◽  
Gang Chen ◽  
...  
Keyword(s):  
Traffic Safety ◽  
Logit Model ◽  
Random Parameter ◽  
Autonomous Driving ◽  
Analytical Models ◽  
Contributing Factors ◽  
Acceleration Rate ◽  
Signal Change ◽  
Random Parameter Logit ◽  
Random Parameter Logit Model

Electric bike (e-bike) riders’ inappropriate go-decision, yellow-light running (YLR), could lead to accidents at intersection during the signal change interval. Given the high YLR rate and casualties in accidents, this paper aims to investigate the factors influencing the e-bikers’ go-decision of running against the amber signal. Based on 297 cases who made stop-go decisions in the signal change interval, two analytical models, namely, a base logit model and a random parameter logit model, were established to estimate the effects of contributing factors associated with e-bikers’ YLR behaviours. Besides the well-known factors, we recommend adding approaching speed, critical crossing distance, and the number of acceleration rate changes as predictor factors for e-bikers’ YLR behaviours. The results illustrate that the e-bikers’ operational characteristics (i.e., approaching speed, critical crossing distance, and the number of acceleration rate change) and individuals’ characteristics (i.e., gender and age) are significant predictors for their YLR behaviours. Moreover, taking effects of unobserved heterogeneities associated with e-bikers into consideration, the proposed random parameter logit model outperforms the base logit model to predict e-bikers’ YLR behaviours. Providing remarkable perspectives on understanding e-bikers’ YLR behaviours, the predicting probability of e-bikers’ YLR violation could improve traffic safety under mixed traffic and fully autonomous driving condition in the future.

Chinese consumers’ willingness-to-pay for safety label on tomato: evidence from choice experiments

2017 ◽  
Vol 9 (1) ◽  
pp. 141-155 ◽  
Author(s):  
Shijiu Yin ◽  
Mo Chen ◽  
Yingjun Xu ◽  
Yusheng Chen
Keyword(s):  
Food Safety ◽  
Willingness To Pay ◽  
Logit Model ◽  
Random Parameter ◽  
Choice Experiments ◽  
Content Type ◽  
Significant Difference ◽  
Random Parameter Logit ◽  
Organic Label ◽  
Random Parameter Logit Model

Purpose Unlike some developed countries, Chinese food safety certification system is multi-level including organic/green/hazard-free certifications. The purpose of this paper is to assess consumers’ preferences for tomatoes carrying these different labels. Design/methodology/approach Data used in this study came from choice experiments (CEs) conducted in Shandong province, China. Based on experiment data, a random parameter logit model was established to analyze consumers’ willingness-to-pay (WTP). Findings Consumers’ WTP for organic tomatoes was higher than that for hazard-free and green-certified tomatoes. Furthermore, consumers’ WTP for the European Union (EU) organic label was higher than that for the Chinese organic label, whereas a non-significant difference existed between the levels of consumers’ WTP for hazard-free and green-certified tomatoes. Consumers with different food safety risk perception (FSRP) had large differences in WTP, whereas those with varying environmental awareness (ENAW) had similar levels of WTP. Originality/value This contribution is the first research which focuses on consumers’ WTP for EU organic label, Chinese organic label, green label, or hazard-free label on tomato through CEs in China. Furthermore, the influence of consumers’ FSRP and ENAW on their preference was analyzed through a random parameter logit model.

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