Testing construct validity of verbal versus numerical measures of preference uncertainty in contingent valuation

The numerical certainty scale (NCS) and polychotomous choice (PC) methods are two widely used techniques for measuring preference uncertainty in contingent valuation (CV) studies. The NCS follows a numerical scale and the PC is based on a verbal scale. This report presents results of two experiments that use these preference uncertainty measurement techniques. The first experiment was designed to compare and contrast the uncertainty scores obtained from the NCS and the PC method. The second experiment was conducted to test a preference uncertainty measurement scale that combines verbal expressions with numerical and graphical interpretations: a composite certainty scale (CCS). The construct validity of the certainty scores obtained from these three techniques was tested by estimating three separate ordered probit regression models. The results of the study can be summarised in three key findings. First, the PC method generates a higher proportion of ‘yes’ responses than the conventional dichotomous choice elicitation format. Second, the CCS method generates a significantly higher proportion of certain responses than the NCS and the PC methods. Finally, the NCS method performs poorly in terms of construct validity. Overall, the verbal measures perform better than the numerical measure. The CCS is a promising method to measure preference uncertainty in CV studies. To better understand its strengths and weaknesses however, further empirical applications are needed.preference uncertainty, contingent valuation, numerical certainty scale, polychotomous choice method, composite certainty scale, climate change, Australia., Environmental Economics and Policy, Research Methods/ Statistical Methods, Q51, Q54,

A cognitive psychological approach of analyzing preference uncertainty in contingent valuation

The sources of preference uncertainty in contingent valuation (CV) studies have rarely been investigated from a theoretical standpoint. This paper proposes a holistic theoretical framework of preference uncertainty that combines microeconomic theory with the theories of cognitive psychology. Empirical testing of the proposed theoretical model was carried out in Australia in the context of a national ‘Carbon Pollution Reduction Scheme (CPRS)’ to be introduced in 2010. Two separate ordered probit models for a certainty score associated with CV ‘Yes’ and ‘No’ responses were estimated. The results of the estimated regression models provide evidence supporting the hypotheses drawn from the theoretical model.Contingent valuation, preference uncertainty, cognitive uncertainty, climate change, Australia,

Estimating non-market values under scenario and policy ambiguity: the case of climate change mitigation in Australia

This report proposes an extension to existing models of non-expected utility (NEU) in the stated preference (SP) literature. The extension incorporates the impact of multiple sources of ambiguity in individual decision making behaviour. Empirical testing of the proposed decision model was carried out in Australia using a dichotomous choice contingent valuation study of a national carbon pollution reduction scheme (CPRS). The results of the study demonstrate that subjective expectations of the context scenario and subjective policy expectations are important determinants of individual decision making in a stated preference framework. The results of the study also demonstrate that decision weight functions are non-linear (quadratic) in subjective scenario expectations and subjective policy expectation. Although evidence was found to link willingness to pay to scenario ambiguity, policy ambiguity was found to have no statistically significant influence on individual decision making.non-expected utility, scenario ambiguity, policy ambiguity, climate change, Australia, Environmental Economics and Policy, Resource /Energy Economics and Policy, C93-D81,

Household perceptions of climate change and preferences for mitigation action: the case of the Carbon Pollution Reduction Scheme in Australia

This study aims to show how Australian households perceive climate change and what they are prepared to do to reduce the harmful effects of climate change. A web-based survey in November 2008 asked approximately 600 New South Wales households about their willingness to pay additional household expenses caused by the Carbon Pollution Reduction Scheme (CPRS) proposed by the Australian government. The Contingent Valuation Method (CVM), a widely used non-market valuation technique, was applied. Results of the study show there is a positive demand to mitigate climate change in Australia resulting from a wish to avoid climate change. Households’ willingness to pay (WTP) for climate change was, however, significantly curbed as households was uncertain about the extent of climate change and whether climate change policies are effective. Australian household support for the CPRS is influenced by schemes of other major greenhouse gas emitting countries (global co-operation). Only when people who didn’t answer the survey are assumed to value climate change mitigation the same as people who did answer the survey, do the benefits of the CPRS, as estimated by respondents’ WTP, exceed its costs.Contingent valuation, climate change, Carbon Pollution Reduction Scheme, willingness to pay, uncertainty, Australia, Environmental Economics and Policy, Resource /Energy Economics and Policy,

Antecedents of consumers’ intention to purchase secondhand clothing: An empirical study

Master of Science in Business (Siviløkonom) - Nord universitet 202

Determinants of Participation in a Catastrophe Insurance Programme: Empirical Evidence from a Developing Country

The paper presents empirical evidence of the determinants of catastrophe insurance participation in one of the poorest and most disaster prone countries in the world. In a large-scale household survey carried out in 2006 we ask 3,000 residents in six different districts in Bangladesh facing various environmental risk exposure levels about their willingness to participate in a catastrophe insurance programme. Combining factors put forward in risk theory and economics, we estimate a model of insurance participation. We show that the household decision to participate in the insurance programme differs depending on both exogenous and endogenous risk exposure levels. As predicted by micro-economic theory, ability to pay, measured in terms of household income and access to credit, significantly affects insurance participation. Furthermore, among the sociodemographic factors investigated in this case study, respondent education and occupation are found to significantly influence household decision making. Our study suggests that low participation rates for catastrophe insurance in a developing country can be explained by high rates of illiteracy and limited access to credit.Natural disasters, catastrophe, insurance, participation, risk, Bangladesh, Consumer/Household Economics, Environmental Economics and Policy, International Development, Risk and Uncertainty, Q54,

Cloud Forensic: Issues, Challenges and Solution Models

Cloud computing is a web-based utility model that is becoming popular every day with the emergence of 4th Industrial Revolution, therefore, cybercrimes that affect web-based systems are also relevant to cloud computing. In order to conduct a forensic investigation into a cyber-attack, it is necessary to identify and locate the source of the attack as soon as possible. Although significant study has been done in this domain on obstacles and its solutions, research on approaches and strategies is still in its development stage. There are barriers at every stage of cloud forensics, therefore, before we can come up with a comprehensive way to deal with these problems, we must first comprehend the cloud technology and its forensics environment. Although there are articles that are linked to cloud forensics, there is not yet a paper that accumulated the contemporary concerns and solutions related to cloud forensic. Throughout this chapter, we have looked at the cloud environment, as well as the threats and attacks that it may be subjected to. We have also looked at the approaches that cloud forensics may take, as well as the various frameworks and the practical challenges and limitations they may face when dealing with cloud forensic investigations.Comment: 23 pages; 6 figures; 4 tables. Book chapter of the book titled "A Practical Guide on Security and Privacy in Cyber Physical Systems Foundations, Applications and Limitations", World Scientific Series in Digital Forensics and Cybersecurit

An empirical investigation of socio-economic resilience to natural disasters

This paper presents an empirical investigation of socio-economic resilience to natural disasters of a tropical cyclone-prone coastal community in Bangladesh. It applies the state-and-transition model, a widely used applied ecology model, to (1) assess the current state of socio-economic resilience to tropical cyclone, (2) identify its drivers and (3) examine its nexus with poverty and socio-economic vulnerability. The results of this study can be summarized into three key findings. First, tropical cyclones had significant negative medium-run impacts on coastal residents’ lives and livelihoods, particularly in terms of income, employment and access to clean water and sanitation. Second, the loss of productive assets, human capital shock, credit constraint and proximity to the forest reserve were the key factors explaining resilience heterogeneity across households. Finally, although the poor were the most vulnerable and suffered from relatively higher economic, physical and structural damage, they exhibited relatively better ability to cope and recover from the shock compared to the non-poor. These findings imply that the increased risk of tropical cyclone is likely to reduce income and standards of living among the tropical coastal communities. However, the burden of these adverse impacts is unlikely to be disproportionally borne by the poorer segment of the society

An empirical investigation of socio-economic resilience to natural disasters

This paper presents an empirical investigation of socio-economic resilience to natural disasters of a tropical cyclone-prone coastal community in Bangladesh. It applies the state-and-transition model, a widely used applied ecology model, to (1) assess the current state of socio-economic resilience to tropical cyclone, (2) identify its drivers and (3) examine its nexus with poverty and socio-economic vulnerability. The results of this study can be summarized into three key findings. First, tropical cyclones had significant negative medium-run impacts on coastal residents’ lives and livelihoods, particularly in terms of income, employment and access to clean water and sanitation. Second, the loss of productive assets, human capital shock, credit constraint and proximity to the forest reserve were the key factors explaining resilience heterogeneity across households. Finally, although the poor were the most vulnerable and suffered from relatively higher economic, physical and structural damage, they exhibited relatively better ability to cope and recover from the shock compared to the non-poor. These findings imply that the increased risk of tropical cyclone is likely to reduce income and standards of living among the tropical coastal communities. However, the burden of these adverse impacts is unlikely to be disproportionally borne by the poorer segment of the society

Bacterial Isolates and Antimicrobial Susceptibility in Children with Acute Diarrhea at Ibn Sina Medical College, Bangladesh

Backround: Infectious diarrhea is one of common cause of children diarrhea causing mortality and morbidity worldwide. This study was performed to identify the common bacteria and their antimicrobial susceptibility in children with diarrhea. Methods: A retrospective study was conducted from April 2014 to March 2016 at IBN SINA Medical College Hospital, Bangladesh. Stool samples were cultured on MacConkey agar and blood agar. A standard biochemical procedure was used for full identification of bacterial isolates. Antimicrobial susceptibility tests were done on Mueller-Hinton agar by using disc diffusion method. Data were entered and analyzed by using SPSS version 20 and a p-value of < 0.05 was considered statistically significant. Results: A total of 186 stool samples were tested for bacterial isolation and 55 (29.57%) cases were found to have bacterial isolates. From the total bacterial isolates, the predominant isolate was E. coli 39 (70.91%) followed by Salmonella 9 (16.36%) and Shigella Spp.7 (12.73%). As much as 84.62% E. coli were resistant to co-trimoxazole and cefuroxime while 92.31% E. coli were sensitive to amikacin and 71.79% were sensitive to cefepime and gentamicin. Salmonella were 100% sensitive to cefepime, ceftriaxone, cefixime, ceftazidime, and ciprofloxacin. Shigella were 85.71% sensitive to amikacin and cefepime. Conclusion: The results show that E. coli were the most frequently isolated pathogen in children. The majority of the bacterial isolates were resistant to multiple antibiotics. Hence, antibiotics susceptibility test is mandatory before prescribing any antibiotics