What Influences Rice Farmers’ Choices of Credit Sources in Côte d’Ivoire? An Econometric Analysis using the Multinomial Conditional Logit Model

In Côte d’Ivoire, the low participation of smallholder farmers in the credit market remains a matter of concern. This study examines the key determinants of rice farmers’ participation in the credit market. We use a Multinomial Conditional Logit model to consider the characteristics related to the use of different credit sources. A total of 588 rice farmers were randomly sampled from seven rice areas. Our findings reveal that gender, age, education level, experience in rice farming, rice plot size, lowland rice farming, extension contact, membership of a farmer-based organization, marketing of paddy rice, and off-farm income significantly influence the use of different credit sources. While credit requirements such as saving plus collateral, kinship/friendship, membership, favoured client, loan maturity, and the distance between borrowers and lenders are credit source-specific variables that significantly determine rice farmers’ choices between different credit sources. These empirical results show that in addition to farmer-specific variables, policymakers should consider the characteristics of credit sources for developing a credit market suitable for smallholder farmers.

Joint Decisions in Residential Choice

<p>Economic agents frequently make joint decisions, which often require a compromise by some or all of the participants. We propose an econometric model in which groups of agents make a joint decision; each agent has preferences modelled using a combination of multi-nominal logit and conditional logit parts. We combine these marginal preferences to create a joint set of probabilities of the group making a particular choice, which enables parameter estimation by maximum likelihood. We can also make the weight applied to an individual agents preferences depend on characteristics of the agent or group. To demonstrate the use of the model, data is obtained from the New Zealand Household Travel Survey. We estimate our model to show how households might make the joint decision of where to live, given that different household members have different work locations.</p>

Joint Decisions in Residential Choice

<p>Economic agents frequently make joint decisions, which often require a compromise by some or all of the participants. We propose an econometric model in which groups of agents make a joint decision; each agent has preferences modelled using a combination of multi-nominal logit and conditional logit parts. We combine these marginal preferences to create a joint set of probabilities of the group making a particular choice, which enables parameter estimation by maximum likelihood. We can also make the weight applied to an individual agents preferences depend on characteristics of the agent or group. To demonstrate the use of the model, data is obtained from the New Zealand Household Travel Survey. We estimate our model to show how households might make the joint decision of where to live, given that different household members have different work locations.</p>

COVID-19 vaccine preferences among university students in Hong Kong: a discrete choice experiment

Objective To promote public health and resume university activities, COVID-19 vaccination has been mandated from an increasing number of universities worldwide. The objective of the study is to understand the factors that impact preference and willingness to take the vaccine among university students in Hong Kong universities utilizing an online questionnaire. The findings will be imperative for health education and the success of the vaccination program. Results We conducted a discrete choice experiment survey among university students in Hong Kong and applied conditional logit regression to estimate their vaccine preference and the weight of each attribute. Regression results showed adverse reactions, efficacy, origin of the vaccine, required number of doses and out-of-pocket price are significant determinants for the choice of vaccine, ranked from the most to least important. Similar preference weighting results were observed after adjusting age, sex, monthly household income, studying medical-related subjects and recent influenza vaccination. Safety, efficacy and origin of the vaccine are key drivers for vaccination decisions among young adults in Hong Kong. Health education and communication focused on these factors are urgently needed to overcome vaccine hesitancy and improve the vaccine uptake.

The Robustness of Conditional Logit for Binary Response Panel Data Models with Serial Correlation

We examine the conditional logit estimator for binary panel data models with unobserved heterogeneity. A key assumption used to derive the conditional logit estimator is conditional serial independence (CI), which is problematic when the underlying innovations are serially correlated. A Monte Carlo experiment suggests that the conditional logit estimator is not robust to violation of the CI assumption. We find that higher persistence and smaller time dimension both increase the magnitude of the bias in slope parameter estimates. We also compare conditional logit to unconditional logit, bias corrected unconditional logit, and pooled correlated random effects logit.

Shock propagation channels behind the global economic contagion network. The role of economic sectors and the direction of trade

Examining the spread of macroeconomic phenomena between countries has become increasingly popular after the 2008 economic crisis, but the recent COVID-19 pandemic rendered this issue much more relevant as it shed more light on the risks arising from strongly interconnected economies. This paper intends to extend previous studies in this line by examining the relationship between trade openness and business cycle synchronization. It extends the scope of previous analyses in three areas. First, we use a Granger-causality approach to identify synchronization. Second, trade is broken down to the sector level and third, we distinguish between upstream and downstream connections. These developments allow for a directed approach in the analysis. We use conditional logit regressions to estimate the effect of trade openness on the probability of shock-transmission. The results presented in this study contribute to the literature in two ways. First, in addition to revealing a positive effect of aggregate two-way trade on shock-contagion, it also points out that this overall effect hides diverse behavior in specific trading sectors as well as upstream and downstream channels. Second, while some sectors are not significant channels of shock-transmission in either directions, upstream channels seem to be important in agriculture while downstream channels dominate machinery and other manufactures. Also, there are sectors (chemicals and related products) trade in which affects shock-transmission negatively.

Green Attributes in Young Consumers’ Purchase Intentions: A Cross-Country, Cross-Product Comparative Study Using a Discrete Choice Experiment

As consumption behavior is one of the key human activities destabilizing the Earth system, green consumption is expected to increase. However, although consumers often show interest in green consumption, they tend to choose non-green alternatives. Presuming that one of the reasons for their inconsistency lies in the trade-offs between green attributes and other attributes (e.g., brand, performance, and price), this study adopted a discrete choice experiment to understand how green attributes play a role in consumers’ purchase decisions. To obtain a deeper understanding, the study conducted a cross-country (young Japanese [n = 370] and Vietnamese [n = 403] consumers) and product (water bottles and T-shirts) comparative analysis. The findings showed that for both products, Japanese respondents were less appreciative of green attributes in both relative and absolute terms than Vietnamese respondents. Furthermore, the marginal willingness to pay (MWTP) for a low environmental impact was the highest among the other attributes in both products for Vietnamese respondents, while this was not the case for Japanese respondents. Utilizing the findings obtained from the conditional logit models and MWTP, this study proposes several policy implications for the promotion of green purchases suitable for each country’s unique situation.

The Value of Social Interactions and Incentives on the Use of a Digital Contact Tracing Tool Post COVID-19 Lockdown in Singapore

BackgroundWe assessed the preferences and trade-offs for social interactions, incentives, and being traced by a digital contact tracing (DCT) tool post lockdown in Singapore.MethodsWe conducted a discrete choice experiment (DCE) among visitors of a large public hospital in Singapore between July 2020 – February 2021. Respondents were sampled proportionately by gender and four age categories (21 – 80 years). The DCE questionnaire had three attributes (1. Social interactions, 2. Being traced by a DCT tool, 3. Incentives to use a DCT tool) and two levels each. The final dataset comprised 3839 respondents after dropping 53 with “irrational” responses. Panel fixed conditional logit model was used to analyze the data.ResultsRespondents were more willing to trade being traced by a DCT tool for social interactions than incentives and unwilling to trade social interactions for incentives. The proportion of respondents preferring no incentives and could only be influenced by their family members increases with age. Among proponents of monetary incentives, the preferred median value for a month’s usage of DCT tools amounted to S$10 (USD7.25) and S$50 (USD36.20) for subsidies and lucky draw.ConclusionsDCE can be used to elicit profile-specific preferences to optimize the uptake of DCT tools during a pandemic. Social interactions are highly valued by the population, who are willing to trade them for being traced by a DCT tool during the COVID-19 pandemic. Although a small amount of incentive is sufficient to increase the satisfaction of using a DCT tool, incentives alone may not increase DCT tool uptake.

Preferences of Treatment Strategies among Women with Low-Risk DCIS and Oncologists

As ongoing trials study the safety of an active surveillance strategy for low-risk ductal carcinoma in situ (DCIS), there is a need to explain why particular choices regarding treatment strategies are made by eligible women as well as their oncologists, what factors enter the decision process, and how much each factor affects their choice. To measure preferences for treatment and surveillance strategies, women with newly-diagnosed, primary low-risk DCIS enrolled in the Dutch CONTROL DCIS Registration and LORD trial, and oncologists participating in the Dutch Health Professionals Study were invited to complete a discrete choice experiment (DCE). The relative importance of treatment strategy-related attributes (locoregional intervention, 10-year risk of ipsilateral invasive breast cancer (iIBC), and follow-up interval) were discerned using conditional logit models. A total of n = 172 patients and n = 30 oncologists completed the DCE. Patient respondents had very strong preferences for an active surveillance strategy with no surgery, irrespective of the 10-year risk of iIBC. Extensiveness of the locoregional treatment was consistently shown to be an important factor for patients and oncologists in deciding upon treatment strategies. Risk of iIBC was least important to patients and most important to oncologists. There was a stronger inclination toward a twice-yearly follow-up for both groups compared to annual follow-up.

Preferences towards the brand and origin of garlic (Allium sativum L.)

Garlic is one of the best known and most widely consumed vegetables in the international field. Regarding its production, Asian countries are identified as the main producers at a global level. Mexico have a significant production of garlic, occupying the fourth place for its productive volume in Latin America and in some regions such as the municipality of Arizpe, Sonora has a productive vocation, contributing to the region's economy and family support. Hence, for a significant number of small producers, it is essential to remain competitive in the garlic market. As a positioning strategy, the creation of a regional brand emerges as a feasible alternative. That is why, and in order to know the preferences that consumers manifest towards Arizpe garlic, an experiment of choice was carried out, a methodology widely used in agri-food marketing studies, the NGene software was used for the analysis of data and in the Limdep software, a conditional logit model was estimated. The results show that the manufacturer's brand and regional origin exert a positive influence on consumers. It is noted that consumers would be willing to pay a premium if the products have the regional or national brand attribute. This information suggests the possibility that exists for small producers in the study region to position themselves in the market with a regional garlic brand.