26,575 research outputs found

    Valuing adult learning : comparing wellbeing valuation to contingent valuation

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    SLIS Student Research Journal, Vol.3, Iss.1

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    Determinants of higher education students’ willingness to pay for violent crime reduction: a contingent valuation study

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    By eliciting an individual’s Willingness to Pay (WTP) for a reduction in crime risks, the contingent valuation method is one of the most solid methodologies in use to estimate the intangible costs of crime. However, very few studies have applied contingent valuation methods to random samples of the population located in high crime rate areas. This study is, to the best of our knowledge, the first attempt to apply the contingent valuation method to estimate how much a specific group of society, which is relatively prone to falling victim to (violent) crime, i.e., students, is willing to pay to reduce the likelihood of being the victim of violent crime. In contrast to the existing literature, our study focuses on a rather unexplored context, Portugal, where criminality and violent crime rates are relatively low by international standards, even though they have been on the rise. Based on responses from 1122 higher education students in a broad range of degrees (from Economics to Psychology and the Humanities), we found that 33% of our respondents have been victims of crime in the past, although in general they did not result in physical or psychological injuries. A reasonable percentage of the students (almost 40%) is very worried about falling victim to a crime and 52.8% worries moderately. Over 40% of our respondents were willing to pay a certain amount but less than 50€, whereas 20.8% were willing to pay between 50€ and 250€. On average, all other determinants constant, younger and female students revealed that they were more inclined to pay so as to avoid violent crime than their older and male counterparts. Low and high income Portuguese students do not differ in their willingness to pay more to avoid being victims of violent crime. Cautious behaviour, such as locking doors at home, and a strong opinion about policies and payment vehicles with potential to reduce the risk of crime is positively associated with the WTP. Finally, the students’ field of study surfaced as a key determinant of WTP – students enrolled in Economics and Management revealed a higher WTP. Such findings are likely to have a critical impact on crime and insurance policies.Contingent Valuation Method; Intangible costs; Crime costs

    Teaching Contingent Valuation and Promoting Civic Mindedness in the Process

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    Economics majors are often assumed to lack civic mindedness. The purpose of this paper then is to demonstrate how by engaging students in the proper understanding of contingent valuation (CV) methodology and by evaluating a social service, we can improve student outcomes in two areas: increasing their competence in research design as well as in the process teaching them to consider the more unfortunate. Since students are really learning by doing in this prescribed process, the attractiveness of the teaching methodology is that the instructor substitutes direct learning and instruction on research design for one where students learn much of the subject matter through experimentation. This paper articulates the experiences of conducting a CV exercise with 49 second- and third-year economics students from the National University of Singapore (in the Environmental Economics course) during the month of October 2001.

    Are Agricultural Measures for Groundwater Protection Beneficial When Compared to Purification of Polluted Groundwater?

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    The groundwater resource, the drinking water areas and the surface water quality can be protected by measures, e.g. by reductions of pesticide and nutrient applications, conversion of arable land to grasslands or forests etc. The objective of the paper is to estimate the benefits of groundwater protection by the valuation method choice experiments. This method allows for separate estimation and comparison of the different attributes connected to groundwater protection i.e. the effects on drinking water and surface water quality as compared to the benefits from cleaning and treatment of polluted drinking water to make it suitable for drinking water consumption. The results indicate that the benefits are significant, and that the willingness to pay for protection of the groundwater exceeds that from purification.groundwater, pollution, drinking water, valuation, choice experiments, Environmental Economics and Policy, Resource /Energy Economics and Policy, Q25, Q26, Q28, C42, D62,

    TRICHOTOMOUS CHOICE: A POSSIBLE SOLUTION TO DUAL RESPONSE OBJECTIVES IN DICHOTOMOUS CHOICE CONTINGENT VALUATION QUESTIONS

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    We investigate the possibility that some respondents to a dichotomous choice question vote YES, even though they would not pay the posted dollar amount in order to register support for the project or policy. A trichotomous choice question format is proposed to determine if allowing respondents the opportunity to vote in favor of a project at an amount less than their bid affects estimated willingness to pay. Using univariate and multivariate tests, we find the trichotomous choice question format reduces the number of YES responses and produces a statistically significant decrease in willingness to pay for an open-space program.Research Methods/ Statistical Methods,

    Justify or die? - using contingent valuation of service provision in a UK public library

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    The public library service in the UK is currently under pressure to justify its existence. An Audit Commission report suggested that if current borrowing rates for libraries continue into the future, libraries would be effectively issuing no books by 2020. Recently the Coates Report asserted about book loans that, "in simple terms, if a service is without separate charge and the public decides not to use it, then the service is de facto without any value to these individuals". Yet Coates' simplistic notions of the services public libraries provide lies at the heart of the problem. Performance indicators based on book loans are unable to assess 'the totality of library effectiveness'. Conversely, qualitative analysis, interviewing users about service impact, shows that libraries 'promote social cohesion and community confidence'. However qualitative findings are by nature not quantitative and not comparable. To try to produce a measure for service quality, contingent valuation was chosen. It elicits economic value judgements from users on both services they use and services they do not use. A major independent study using contingent valuation was conducted by the Department of Computer and Information Sciences at the University of Strathclyde on East Renfrewshire Library Services, near Glasgow, which is recognised as an exemplary public library service. The study revealed the inability of contingent valuation to adequately assess the complex mix of services provided. The study concludes that an urgent rethink is required regarding measures for public library service evaluation

    Is UK agriculture sustainable? Environmentally adjusted economic accounts for UK agriculture

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    Agricultural sectors in most advanced economies have come under severe criticism for lacking the characteristics of 'sustainability'. What is usually meant is that a combination of subsidies and modern farming methods is producing an economically and environmentally non-viable agricultural sector. Using economic valuation techniques, and adjusting for prevailing subsidies, we seek to re-estimate the contribution that the agricultural sector made to the UK economy in the year 1998. The sector is markedly smaller if adjustments are made for subsidies. But these subsidies allow the sector to be a generator of both substantial environmental benefits, and also of extensive environmental damages

    An application of the option-pricing model to the valuation of football player in the ‘Serie A League’

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    Football is perhaps the most popular sport in the world. The market of football players is one of the most popular factors of the sport that makes the fans dream of each team which increases the interest around the sport. In 2013 the player Gareth Bale was sold from Tottenham to Real Madrid for 100 million Euros. Someone argues that the market for football players is inherently irrational precisely because of the sale price of certain players. This paper is based on Tunaru et al. model that is real option based model. The aim of the paper is the financial valuation of a goalkeeper of Serie A League club. The model depends on relationship of player’s and team’s performance and the club’s turnover

    Valuation of Forest Resources in Watershed Areas: Selected Applications in Makiling Forest Reserve

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    The valuation of resources found in the watershed area is important in assessing the impacts of changes in the watershed. While the change will have positive impacts which are short-term in nature, there are long-term environmental damages associated with economic benefits. This paper gives a rational judgment on the soundness of such changes through cost and benefit analysis. The watershed approach is utilized to capture the effects that are relevant in the analysis.forestry sector, watershed, uplands
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