Payment Vehicle Research Articles

Analysis of Rural Citizen's Preference to Nature Experience Study Using Local Resource

In this study, based on the questionnaire survey conducted in Shiga prefecture in 2015, the payment card question modes of contingent valuation method (CVM) was employed to quantify taxpayer’s willingness to pay (WTP) for nature experience study program in school education. As payment vehicle, tax reallocation of budget was employed. The results of the Tobit estimation procedure indicate that WTP was affected by the function of subject of chance provide for the study and place for the study. Place of respondents had no relation to WTP. This highlight the importance of leading rule of regional government to develop nature experience study program in school education as a way to increase formative ability of human relations of pupils.

Appropriate Payment Vehicles in Stated Preference Studies in Developing Economies

Selecting appropriate payment vehicles is critical for the perceived consequentiality and incentive compatibility of stated preferences surveys. We analyze the performance of three different payment vehicles in a Malaysian case of valuing wetland conservation. Two are well-known: voluntary donations and income taxes. The third is new: reductions in government subsidies for daily consumer goods. Using donations is common, but this payment vehicle is prone to issues of free-riding. An income tax usually has favorable properties and is commonly used in environmental valuation. However, in Malaysia as well as in many other low- to middle-income economies, large proportions of people do not pay income taxes, putting the validity of this payment vehicle into question. Instead, citizens in Malaysia and many other countries benefit from subsidies for a range of consumer goods. We find that price sensitivity is higher and the unexplained variance smaller when using subsidies rather than donations or income taxes. Importantly, this approach translates into completely different conclusions concerning policy advice. Our results suggest that in developing countries, using reduced subsidies as a payment vehicle may have favorable properties in terms of improved payment consequentiality compared to alternative payment vehicles, thus enhancing the external validity of stated preference surveys.

Protest response and contingent valuation of an urban forest park in Fuzhou City, China

Urban forest parks, such as Fuzhou National Forest Park (FNFP), provide residents with landscape amenities, recreational opportunities, and interaction with nature. Understanding the recreational quality of green spaces and visitors’ behaviors and preferences is essential for effective forest park conservation strategy. We aimed to assess the recreational use and amenities of FNFP and calculate the monetary value of provided services using a contingent valuation method (CVM). A total of 249 park visitors were interviewed face-to-face based on a questionnaire using entrance fee as the payment vehicle, in October 2015 and January 2016. A considerable number of protest responses may cause selectivity bias; consequently, we used models excluding protest zeros. Sample selection models were estimated using Heckman’s two-step and full information maximum likelihood methods The average willingness-to-pay (WTP) was estimated to be 13.79 RMB (equivalent to 2.00 USD) for the unconditional model, and the lower mean values were estimated for two selectivity bias corrected models. In this case, park visitors would be willing to pay an average 11.6 RMB (equivalent to 1.69 USD) per person according to the full information maximum likelihood estimate and an average 10.96 RMB (equivalent to 1.60 USD) per person by the two-step method. Respondents’ satisfaction of forest park facilities and service significantly influenced their WTP value for forest park improvements. Socio-demographic features could not effectively discriminate the protest bidders and the other non-protest bidders. Our results suggest that protesters may value the resource less than positive bidders. The high percentage of protest respondents may be due to the current free use of FNFP and payment vehicle of entrance fee. The CVM approach takes residents’ preferences into consideration and allows the study of heterogenous socio-demographic groups; thus, our data may help to develop effective management plans for improving urban forest parks in China.

Eliciting the Monetary Value of a Quality-Adjusted Life Year in a Greek Outpatient Department in Times of Economic Austerity.

Background and objectiveContingent valuation is widely used to determine individuals’ willingness to pay (WTP) for a health gain. Our study aimed to elicit an empirical estimate of the monetary value of a quality-adjusted life year (QALY) in a Greek outpatient setting in times of economic austerity and assess the impact of patients’ characteristics on their valuations.MethodsWe used a questionnaire as a survey tool to determine the maximum WTP for a health gain of a hypothetical therapy and to evaluate patients’ health-related quality of life (EuroQoL-5D-3L) and demographic and socioeconomic characteristics. EuroQoL tariffs were used to estimate health utilities. Mean WTP values were computed and ordinary least squares regressions performed on transformed Box-Cox and logarithmic dependent WTP per QALY variables to remedy observed skewness problems.ResultsAnalyses were performed for 167 patients with utility values less than unity. Mean WTP per QALY reported was similar for both payment vehicles examined: payments made out-of-pocket (€2629) and payments made through new tax imposition (€2407). Regression results showed that higher net monthly family income was associated with higher WTP per QALY for both payment vehicles. Moreover, the presence of a chronic condition and higher level of education were associated with higher out-of-pocket WTP per QALY and WTP per QALY through taxes, respectively.ConclusionThe very low WTP per QALY estimates could be explained by the recent severe economic depression and austerity in Greece. In fact, family income was found to be a significant predictor of WTP per QALY. Since these estimates deviate significantly from the cost-effectiveness thresholds still employed in economic evaluations in this country, research should be undertaken promptly to further examine this important issue using a nationwide representative sample of the general population along with WTP and other methodologies.Electronic supplementary materialThe online version of this article (doi:10.1007/s41669-017-0033-4) contains supplementary material, which is available to authorized users.

Measurement of Bequest Value Using a Non-monetary Payment in a Choice Experiment—The Case of Improving Forest Ecosystem Services for the Benefit of Local Communities in Rural Kenya

This paper adds to the limited literature on the bequest value of environmental resources. A choice experiment (CE) was carried out in order to estimate the economic value of changes in ecosystem services that impact on the welfare of rural communities in the vicinity of a rainforest in Kenya. Our results demonstrate that, in addition to valuing immediate benefits, respondents were willing to pay 1750Kshs for the use of forest resources by posterity. The results also establish that the chosen non-monetary payment vehicle was not evaluated differently to a standard cash payment.

Choice modeling of system-wide or large scale environmental change in a developing country context: Lessons from the Paraíba do Sul River

The Rio Paraiba do Sul is a highly polluted river in south central Brazil, that is contaminated by industrial, agricultural and municipal wastes, as well as being impacted by dams, water withdrawals and deforestation in the watershed. Since only very intensive and farreaching environmental policies could result in water quality improvements, valuing the restoration of the river presents many unique challenges. We develop a choice-modeling approach to valuation of the restoration of this river, with general tightening of environmental policy as the policy, and an increase in prices as the payment vehicle. The estimation is performed in willingness to pay space, adjusting for heterogeneity of tastes. We find that respondents, who are primarily low income, exhibit higher willingness to pay for complete restoration than moderate restoration, higher for moderate restoration in comparison to minimal restoration, and that they prefer restoration sooner, rather than later.

Bicyclists’ preferences for route characteristics and crowding in Copenhagen – A choice experiment study of commuters

Cycling as a mode of transportation is increasingly being advocated due to the many positive effects it has on people’s health, the environment and to counteract increasing congestion on the transportation infrastructure. There is a long tradition of using cycling as a mode of transportation among the Danish public and this is widespread across people with different socio-demographic characteristics. Copenhagen has an extensive network of cycling facilities and is often used as a role model for other large cities when developing cycling facilities. This setting provides a unique basis for investigating bicycle commuters’ preferences for route characteristics and crowding in particular, which is not studied before, but likely to become an issue around the world’s cities with increases in number of bicyclists. The study is based on a choice experiment of 3891 active cyclists in Copenhagen. The investigated attributes are cycle track, crowding, stops, environment/road type, green surroundings, and travel distance which is used as a payment vehicle to gain more desirable route characteristics.On average people state that they are willing to cycle 1.84km longer if the route has a designated cycle track, and 0.8km more if there are green surroundings too. Stops and crowding, based on number of cyclists on the route, have significant negative impacts on people’s utility of a given route. People were willing to cycle one kilometre longer to avoid high levels of crowding and approximately 1.3km longer to avoid routes with many stops. The most attractive road environment is a segregated path only for cyclists closely followed by shopping street. Looking into heterogeneity, we find that people who own a car have less disutility of cycling additional distance. The results may support future decision making when creating new infrastructure for cycling in cities by addressing the perceived importance of facilities and crowding in a population where commute cycling is very widespread.

The comparison of discrete payment vehicle methods (dichotomous choice) in improving the quality of the environment

Using methods to estimate the value of environmental goods seems to be essential for economic planning and moving toward development. In this paper, using methods of discrete payment vehicle (dichotomous choice), i.e., single-bounded and Double-Bounded Dichotomous Choice, the value of air pollution in Tehran and households’ willingness to pay to improve air quality, in four selected regions (Shahr-e-Ray, Shoosh, Haft-e-Tir and Tajrish) is estimated and the corresponding results of these two techniques were compared. The results showed that the total value of air quality improvement, calculated through two techniques of Double-Bounded and Single-Bounded Dichotomous Choice were, respectively, 2,398,657,500 and 1,492,566,000 thousands Rials (1USD = 35,000R) in a year and weighted mean of each citizen’s willingness to pay to improve air quality, calculated through these two methods was estimated to be 282,192 and 175,596 Rials in a year, respectively. Considering the annual damage to health, for any 1% increase in pollutants and yearly cost of pollution reduction which are, respectively, 1,199,000,000 and 7,336,000,000 thousands Rials, it was determined that citizens’ willingness to pay through two methods includes 20 and 30% of the cost of pollution control, respectively, while 70% of pollution is due to mobile sources. However, citizens’ low willingness to pay is attributed to citizens’ distrust of government policies as well as their ignorance of the harmful effects of air pollution. In general, the results of this study, with regard to the cost of pollution from Single-Bounded Dichotomous Choice are closer to actual market conditions.

Payment Vehicles for Public Goods: Evidence from California’s Proposition 21

Proposition 21 on California’s 2010 ballot concerned an annual surcharge on vehicles to support state parks. Proposition 21 failed, leaving 25% of California state parks at risk of closure. We analyze voting patterns, which we show depend on the average gross price of the proposition, political ideology, environmental preferences, the availability of substitutes, and park salience. We simulate counterfactual scenarios under which Proposition 21 might have passed and use holdout samples to illustrate the predictive ability of our model. Heterogeneity across California makes our model potentially useful for predicting public sentiment for similar propositions, even for jurisdictions without direct democracy.

Effects of payment vehicle non-attendance in choice experiments on value estimates and the WTA–WTP disparity

ABSTRACTIn this paper, we argue that value estimates obtained from choice experiments suffer from hypothetical bias, caused by part of the respondents ignoring the payment vehicle in making their choices. We show that this particular form of non-attendance can be substantial, pushes down the estimated payment vehicle parameter, and causes an upward bias in value estimates. Moreover, payment vehicle non-attendance affects willingness to accept (WTA) more than it does willingness to pay (WTP). As a consequence, the WTA–WTP disparity decreases when non-attendance is accounted for, with disparities decreasing by at least 50%. The patterns in findings are by and large robust to exclusion of systematic status quo choices and to alternative model specifications.

APLIKASI CEK BAYAR PAJAK KENDARAAN BERMOTOR SAMSAT JAWA TIMUR BERBASIS ANDORID

Monopoly check is a monopoly that was taken from the owner and authority vehicle that was registered in their territory. Android is operation system for a mobile phone with the basic linux to reserve opening platform for advance to make their application. The researcher using research method to make the last report is observation with the data to use in his report. Interview with the session asking question for the official samsat gresik to get more detail payment. The researcher are getting reference from the books that can applied in this research.From the result findings that was the researcher doing, the researcher make “Check Application Of Monopoly Payment Vehicle Through The Basic Android”. His research applied counting of monopoly check vehicle into sets agency media android. Besides that tools was used into make application is android studio as IE legality to develop android and java application as language program that was used. For the expectation, into the result finding is to make user of this application they are getting easy to get more information about the payment of monopoly vehicle. Keyword : monopoly, vehicle, java, androidÂ

Testing convergent validity in choice experiments: Application to public recreation in Spanish stone pine and cork oak forests

We perform two convergent validity tests in a choice experiment applied to public recreation in Spanish stone pine and cork oak forests. Results show convergent validity between a choice and a ranking recoded as a choice format in an experiment with three alternatives plus status quo. We also find significant differences between two payment vehicles (increased trip expenditures and entrance fee) that are included simultaneously in the choice sets. We estimate aggregated recreation values using compensating variation and simulated exchange value (maximum benefits from a potential market) measures. The latter measures account for 35–51% of the former values.

Is willingness to pay for freshwater quality improvement in Pakistan affected by payment vehicle? Donations, mandatory government payments, or donations to NGO’s

This study examines the effect of payment vehicle and managing agency on household’s stated willingness to pay (WTP) for freshwater quality improvement in Pakistan’s Swat River valley. Contingent valuation questions scenarios were designed based on three different payment mechanisms; a mandatory payment to government, a donation to government and a donation to a local non-government organization (NGO). Results show that zero WTP response rate is lower significantly for donation to a local NGO compared to mandatory and voluntary payments to government. Household’s annual donation to a local NGO is $2.8, which is almost double to mandatory and voluntary payments to government. Interviews indicate that this difference might be due to households’ lack of trust of the government programs or fear of corruption, or might be a strategic response to overstate actual WTP when asked about donations to an NGO. The implications for contingent valuation researchers looking to value WTP in poverty dominated areas are that a donation to a local NGO can be used as one payment vehicle to obtain an upper bound on WTP and a mandatory payment to the government can be used as a lower bound.

Willingness to pay and the sensitivity of willingness to pay for interdisciplinary musculoskeletal clinics: a contingent valuation study in Quebec, Canada.

Orthopedics is a discipline that requires a continuum of care in close collaboration with physicians, nurses, and healthcare professionals to ensure effective rehabilitation. In some cases, the wait time for a consultation may be very long, which can jeopardize the patient's rehabilitation and sometimes even cause complications that lead to a loss of autonomy. In Quebec, there is a severe shortage of healthcare professionals-and of orthopedic surgeons, in particular-specializing in musculoskeletal problems. To address this problem, public managers have decided to establish interdisciplinary musculoskeletal clinics in regions outside the two major cities of Montréal and Québec. The major benefits of these clinics are that they reduce the wait time for consultation and treatment while maintaining service quality. Although their benefits are certain, these clinics remain threatened by relatively high initial costs. This study's objective is to evaluate whether the population of Quebec has a quantifiable willingness to pay (WTP) to establish these clinics. To our knowledge, this is the first study of its kind either in the province of Quebec or elsewhere. We selected 3822 subjects randomly within the target population using Internet surveys, telephone surveys and self-administered paper surveys as our methods of recruitment. Three payment vehicles were used and each participant was randomly allocated among these: tax, donation or lump-sum fee. A contingent valuation question using a referendum format with the option "don't know" was used. Econometric estimates were performed using probit and Wang's models. Our results indicate that the population of Quebec may potentially have a mean WTP of 42.3 Canadian dollars per person for such clinics, which would enable a mean reduction from 12 to 4 months of wait time. However, the WTP is found to be very sensitive to the survey mode and the payment vehicle used: about 1.2-2 times more important in the tax and the lump-sum fee scenarios than in the donation scenario, and about 3-4 times less important in the Internet survey than in the telephone or self-administered paper surveys. In addition, this amount was strongly affected by the introduction of a new governmental health-related policy that arose during the survey and led to a minimal drop in WTP of about 30-50%. This strong sensitivity led us to the three following recommendations for future contingent valuation studies: (1) favour Internet surveys, (2) use a payment vehicle that limit uncertainty in the WTP answer and allow to socialize benefits, as the tax scenario in our study, and (3) strictly apply the "divide by 2" rule of the NOAA panel.

The economic value of the Colombo Public Library, Sri Lanka: contingent valuation approach

Net Revenue of a public library is not an indicator of the true value of services rendered by a public library to the wider society. The peoples’ perception of the service of the library or economic value is the true value of the library. The Contingent Valuation Method (CVM) used to assess the economic value of a public library which is not a service in the free market economy. This study employs CVM: a branch of the Stated Preference Method to measure the economic value of the Colombo Public Library (CPL) Sri Lanka. The payment vehicle is a Trust Fund. The logistic regression has been applied to estimate the Willingness to Pay (WTP) of citizens which elicited through single bound dichotomous choice question with onetime payment option. The WTP for the population is aggregated by using mean probabilistic logic WTP of the sample. The study found that annualized economic value of the CPL is higher than its total capital and recurrent expenditure per year. Thus, continuation of public funding is acceptable even CPL makes financial losses to the Colombo Municipal Council.

Virtual Currencies, the Money Market, and Monetary Policy

Virtual currencies are in vogue mainly due to two factors. First, as a protest against authority-driven monetary policy decisions and second, as alternatives to deficits in some monetary systems arising out of political instability or other causes. Assuming that virtual currencies indeed (partially) replace national currencies as payment vehicles, we attempt, in this article, to integrate the virtual currency supply and demand into the Keynesian money market framework. This article presents a few results for the central banks and outlines problems that may result for monetary policy formulation. Since this is the first such attempt to model a national money market as a combination of nationally-issued currency and globally-issued virtual currency, certain simplistic assumptions have been made. Nevertheless, the model offers directions on the impact of virtual currencies on the monetary system and the national money market. Additionally, the paper integrates the official standpoints of the European Central Bank and the Bank of England on this topic.

Economic valuation at all cost? The role of the price attribute in a landscape preference study

In ecosystem services and landscape research, both monetary and non-monetary preference studies are applied to elicit values that people assign to landscapes. In this paper, we apply a split-sample approach to compare relative preferences for landscape attributes between a choice experiment with and an experiment without price attribute. Also, within the choice experiment with a price attribute, we examine the effect of non-attendance to the price attribute (i.e., ignoring the price) on landscape preferences. A comparison of the marginal rates of substitution of landscape attributes between the two experiments reveals a clear difference of preference patterns. In addition, 36% of the respondents in the monetary experiment ignored the price attribute. This group expressed similar preferences for landscape attribute as respondents in the non-monetary experiment. We also show that ignoring this type of non-attendance leads to a substantial upward bias in monetary value estimates. We conclude that adding a price attribute to choice experiments substantially affects trade-offs and choices made by respondents. Including a payment vehicle ensures that trade-offs between attributes are more pronounced, and that money has to be put where the mouth is. However, controlling for non-attendance appears crucial for obtaining accurate monetary value estimates.

Tourism and wetland conservation: application of travel cost and willingness to pay an entry fee at Ghodaghodi Lake Complex, Nepal

This study investigated the need and applicability of wetland tourism for resource conservation, using the case of Ghodaghodi Lake Complex, a Ramsar Site in western Nepal. The travel cost method (TCM) was used to determine the recreation potential of the lake complex, while the contingent valuation method (CVM) was used to calculate willingness of visitors to pay an entry fee as a payment vehicle for conservation. The per capita travel cost was found to be NPR 540 (US $7.71), while the mean willingness to pay an entry fee was NPR 34 (US $0.48) per visitor per entry. In addition, factors affecting wetland visitation rates and maximum willingness to pay were identified. Policy implications include the establishment of an entry fee system to offset conservation budgetary constraints, government investment in social benefits equating to at least per capita travel cost identified, and public‐private partnerships, with community participation in tourism promotion and wetland conservation.

WILLINGNESS‐TO‐PAY FOR SPORTING SUCCESS OF FOOTBALL BUNDESLIGA TEAMS

This study shows that fans and people living in the region of 28 Football Bundesliga teams from all three divisions are willing to support their team financially. Survey respondents were asked for their willingness‐to‐pay to avoid a negative outcome (e.g., relegation) and to achieve a positive outcome (e.g., promotion). Fan bonds are applied as an alternative payment vehicle within the contingent valuation method. The results show that different factors affect the decision to support the team and the actual amount of willingness‐to‐pay—for attendees and nonattendees. Public goods are particularly relevant for reporting a positive willingness‐to‐pay. (JEL Z23, L83, H41)

Central Bank Behaviour Concerning the Level of Bitcoin Regulation as a Policy Variable

Bitcoin gains more and more attention in the general public and is already the most popular virtual currency. At the same time, the acceptance of Bitcoin as a speculative asset and also as a payment vehicle increases. This is an indication that we might now be entering an era of parallel currency systems. Therefore, one could state that the Bitcoin network and the central banking system could become two rival systems with respect to issuing payment vehicles and providing cross-border payment systems. Our aim is to analyse the central bank incentives for establishing a network model that includes hacking. With our model we are able to explain why central banks have no incentive to advance Bitcoin regulation at the current stage of development, as this would reduce the critical mass of Bitcoin users. Finally, in combination with a central bank loss function, we are able to calculate an optimal level of central regulation.