Will Australians pay for health care advice from a community pharmacist? A video vignette study

Background: Large proportion of Australians have access to pharmacists' health advice at no cost. The impact of a proposed co-payment levy for general practitioner (GP) consultation by Australian government is unclear. This raises an interesting question about consumers' perceived value of health-related consultations. Objective: This survey of representative sample of Western Australians explores the hypothesis that Australians are willing to pay for advanced model of pharmacy consultation. Methods: Two videos illustrating current-services and quality-enhanced-service (QES) incorporating systematic assessment of symptoms and referral to GP if necessary, were used. Participants viewed videos online and completed a willingness-to-pay (WTP) questionnaire about their perception and WTP for each service. Logistic regression and McNemar tests were used to identify WTP groups. Results: Of the 175 respondents, one in nine (19/175, 11%) were willing to pay and (35/175) 20% might consider paying for advice at pharmacies as per current-practice. Almost one in four (49/175, 28%) were willing to pay and (47/175) 27% would consider paying for QES (McNemar Test P < 0.001). Conclusions: The majority of West Australians may be willing to pay for consultation at pharmacies that offers more private, time-intensive experience with documented GP referral where required. Further research is warranted to test WTP with actual customers to confirm these results

What is Your Selfie Worth? A Field Study on Individuals’ Valuation of Personal Data

Referred to as the new oil, undoubtedly personal data is a valuable resource for organizations. Contrary, it is still blurred, to what extent individuals value their data even though, in a digitized world, users are requested to exchange their data for adequate services. Former research on individuals’ valuation of personal data result in scattered, partly contradictious values, depending on the data type, context, and the measurement method. In this study, we aimed to facilitate the valuation for individuals by applying a new and promising measurement methodology: the participants of our field experiment had the chance to sell their selfies in a name-your-own-price auction with repeated bidding and feedback loops. As a result, 39% of our participants were willing to donate or sell their selfies with a median of 5€. Additionally, bidding clusters were identified. Implications for research on the valuation of personal data in terms of privacy are discussed

A Game-Theoretic Study on Non-Monetary Incentives in Data Analytics Projects with Privacy Implications

The amount of personal information contributed by individuals to digital repositories such as social network sites has grown substantially. The existence of this data offers unprecedented opportunities for data analytics research in various domains of societal importance including medicine and public policy. The results of these analyses can be considered a public good which benefits data contributors as well as individuals who are not making their data available. At the same time, the release of personal information carries perceived and actual privacy risks to the contributors. Our research addresses this problem area. In our work, we study a game-theoretic model in which individuals take control over participation in data analytics projects in two ways: 1) individuals can contribute data at a self-chosen level of precision, and 2) individuals can decide whether they want to contribute at all (or not). From the analyst's perspective, we investigate to which degree the research analyst has flexibility to set requirements for data precision, so that individuals are still willing to contribute to the project, and the quality of the estimation improves. We study this tradeoff scenario for populations of homogeneous and heterogeneous individuals, and determine Nash equilibria that reflect the optimal level of participation and precision of contributions. We further prove that the analyst can substantially increase the accuracy of the analysis by imposing a lower bound on the precision of the data that users can reveal

Which Smart Electricity Service Contracts Will Consumers Accept? The demand for compensation in a platform market

This paper considers the heterogeneity of household consumer preferences for electricity service contracts in a smart grid context. The analysis is based on original data from a discrete choice experiment on smart electricity service contracts that was designed and conducted in collaboration with Accent and 1,892 UK electricity consumers in 2015. The results suggest that while customers are willing to pay for technical support services, they are likely to demand significant compensation to share their usage and personally identifying data and to participate in automated demand response programs. Based on these findings potential platform pricing strategies that could incentivise consumers to participate in a smart electricity platform market are discussed. By combining appropriate participation payments with sharing of bill savings, service providers could attract the number of customers required to provide the optimal level of demand response. We also examine the significant heterogeneity among customers to suggest how, by targeting customers with specific characteristics, smart electricity service providers could significantly reduce their customer acquisition costs

Jumping the Queue:Willingness to Pay for Faster Access to COVID-19 Vaccines in Seven European Countries

Introduction: Given the initial shortage of vaccines to protect against coronavirus disease 2019 (COVID-19), many countries set up priority lists, implying that large parts of the population had to wait. We therefore elicited the willingness to pay (WTP) for access to two hypothetical COVID-19 vaccines. Methods: Respondents were asked how much they would be willing to pay to get an immediate COVID-19 vaccination rather than waiting for one through the public system. We report data collected in January/February 2021 from the European COVID Survey (ECOS) comprising representative samples of the population in Denmark, France, Germany, Italy, Portugal, the Netherlands, and the UK (N = 7068). Results: In total, 73% (68.5%) of respondents were willing to pay for immediate access to a 100% (60%) effective vaccine, ranging from 66.4% (59.4%) in the Netherlands to 83.3% (81.1%) in Portugal. We found a mean WTP of 54.36 euros (median 37 euros) for immediate access to the 100% effective COVID-19 vaccine and 43.83 euros (median 31 euros) for the 60% effective vaccine. The vaccines’ effectiveness, respondents’ age, country of residence, income, health state and well-being were significant determinants of WTP. Willingness to be vaccinated (WTV) was also strongly associated with WTP, with lower WTV being associated with lower WTP. A higher perceived risk of infection, higher health risk, more trust in the safety of vaccines, and higher expected waiting time for the free vaccination were all associated with a higher WTP. Conclusion: We find that most respondents would have been willing to pay for faster access to COVID vaccines (jumping the queue), suggesting welfare gains from quicker access to these vaccines. This is an important result in light of potential future outbreaks and vaccines.</p

What Makes them Click: Empirical Analysis of Consumer Demand for Search Advertising

We study users' response to sponsored-search advertising using data from Microsoft's Live AdCenter distributed in the "Beyond Search" initiative. We estimate a structural model of utility maximizing users, which quantifies "user experience" based on their "revealed preferences," and predicts user responses to counterfactual ad placements. In the model, each user chooses clicks sequentially to maximize his expected utility under incomplete information about the relevance of ads. We estimate the substitutability of ads in users' utility function, the fixed effects of different ads and positions, user uncertainty about ads' relevance, and user heterogeneity. We find substantial substitutability of ads, which generates large negative externalities: 40% more clicks would occur in a hypothetical world in which each ad faces no competition. As for counterfactual ad placements, our simulations indicate that CTR-optimal matching increases CTR by 10.1% while user-optimal matching increases user welfare by 13.3%. Moreover, targeting ad placement to specific users could raise user welfare by 59%. Here, we find a significant suboptimality (up to 16% of total welfare) in case the search engine tries to implement a sophisticated matching policy using a misspecified model that does not account for externalities. Finally, user welfare could be raised by 14% if they had full information about the relevance of ads to them.

Values of travel time in Europe: Review and meta-analysis

This paper reports the most extensive meta-analysis of values of time yet conducted, covering 3109 monetary valuations assembled from 389 European studies conducted between 1963 and 2011. It aims to explain how valuations vary across studies, including over time and between countries. In addition to the customary coverage of in-vehicle time in review studies, this paper covers valuations of walk time, wait time, service headway, parking space search time, departure time switching, time in congested traffic, schedule delay early and late, mean lateness and the standard deviation of travel time. Valuations are found to vary with type of time, GDP, distance, journey purpose, mode, the monetary numeraire and a number of factors related to estimation. Model output values of time compare favourably with earnings data, replicate well official recommended values obtained from major national studies, and are transferable across countries. These implied monetary values serve as very useful benchmarks against which new evidence can be assessed and the meta-model provides parameters and values for countries and contexts where there is no other such evidence