Estimating residents' WTP for ecosystem services improvement in a payments for ecosystem services (PES) program: A choice experiment approach

Ureta, Joan; Motallebi, Marzieh; Vassalos, Michael; Seagle, Steven; Baldwin, Robert F.

doi:10.1016/j.ecolecon.2022.107561

Cited by 21 publications

(14 citation statements)

References 41 publications

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“…In subsistence economies when currency is scarce, it is common to employ working days as a kind of payment in environmental value studies (Cunha-E-Sá et al 2023;Meginnis et al 2020). The use of payment through tax systems and mandatory payment otherwise is often less accepted in these societies as compared to developed economies, which can apply these payment vehicles with considerable credibility due to the stability and efficiency of tax systems (Cunha-E-Sá et al 2023; Ureta et al 2022). Some recent studies also explore the role of carbon taxes as a payment vehicle (Liu et al 2021;Qin et al 2020).…”

Section: Payment Vehicle For Choice Experiments Set-upmentioning

confidence: 99%

Willingness to Pay for Environmental Conservation: Subsidy Reduction as a Payment Vehicle

2024

JEM

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The objective of the study is to test whether the subsidy reduction of daily consumer goods as a payment vehicle can influence individuals' willingness to pay (WTP) for environmental and nature conservation. Specifically, it assessed the impact of price sensitivity on the willingness to conserve wetlands, using the subsidy reduction approach. Malaysia's Setiu Wetland (SW) served as a case study to gauge respondents' preferences to trade-off the benefits of subsidy with conservation of natural resources. The welfare economic concept of WTP was applied to estimate the economic value of SW with the application of choice experiment method. Analysis using the Random Parameter Logit model showed that respondent's WTP for conserving SW, through subsidies reduction, amount to RM120.59 annually. The price sensitivity in the model is high, suggesting that respondents are greatly concerned about the monetary attribute. This further implies that subsidy reduction can be a most consequential and coercive payment for Stated Preference studies. Thorough assessment of the payment structure is crucial for the quality of environmental value research in developing economies when conventional methods may not be ideal. It is recommended that policymakers consider other alternatives as payment vehicles for environmental conservation to ensure broader support for conservation initiatives.

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Section: Payment Vehicle For Choice Experiments Set-upmentioning

confidence: 99%

Willingness to Pay for Environmental Conservation: Subsidy Reduction as a Payment Vehicle

2024

JEM

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“…Customers' willingness to pay (WTP) is critical to setting price as it sets the maximum amount which customers are willing to pay for a good or a service. Ureta et al (2022) studied more than 1500 residents of South Carolina, to assess their willingness to pay for ecosystem services improvements, and concluded that the mean WTP is in the range of $0.3 and $6.39 and established a model for payment for ecosystem services. Schuermann & Woo (2022) assessed the WTP for reusable food containers in South Korean market and concluded that food companies are willing to pay up to $2.18 per container.…”

Section: Literature Reviewmentioning

confidence: 99%

Price estimation for Amazon Prime video in India

Sar

2022

J Revenue Pricing Manag

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There has been considerable changes in consumer sentiments toward over-the-top media services during COVID-19 Pandemic and after that. Following the changes in the consumer sentiments, marketers have repositioned there offerings aligning with the consumer willingness to pay. Accordingly, knowledge about consumers' willingness to pay has become vital for success of the media service firms. The purpose of the paper is to estimate the price of subscription to Amazon Prime Video in India in the emergent context by gaining insights into the consumers' willingness to pay. "Van Westendrop Price Sensitivity Model" was used to estimate the prices. The findings suggest an optimal price point of ₹1300/-per annum with a range of acceptable price between ₹1000/-and ₹1500 per annum. The estimated prices are consistent with prevailing prices.

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“…Consequently, the use of LCP diet for feeding pigs will allow for ecosystem services (ESs) generation that are valued as the benefits produced by ecosystems; in other words, the connection between ecosystems and human welfare [ 11 ]. As a way of managing these ESs and achieving socially, economically, and ecologically desirable outcomes, payment for ESs is a potential approach that ensures financial support to protect and conserve the quality and sustainability of ESs [ [12] , [13] , [14] ].…”

Section: Introductionmentioning

confidence: 99%

Citizens' willingness to support farmers’ adoption of low crude protein diet in pig production

Goumeida,

Rahmani,

Le Cour Grandmaison

et al. 2024

Heliyon

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Estimating residents' WTP for ecosystem services improvement in a payments for ecosystem services (PES) program: A choice experiment approach

Cited by 21 publications

References 41 publications

Willingness to Pay for Environmental Conservation: Subsidy Reduction as a Payment Vehicle

Willingness to Pay for Environmental Conservation: Subsidy Reduction as a Payment Vehicle

Price estimation for Amazon Prime video in India

Citizens' willingness to support farmers’ adoption of low crude protein diet in pig production

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