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valuation method</title> <meta name="description" content="Search results for: contingent valuation method"> <meta name="keywords" content="contingent valuation method"> <meta name="viewport" content="width=device-width, initial-scale=1, minimum-scale=1, maximum-scale=1, user-scalable=no"> <meta charset="utf-8"> <link href="https://cdn.waset.org/favicon.ico" type="image/x-icon" rel="shortcut icon"> <link href="https://cdn.waset.org/static/plugins/bootstrap-4.2.1/css/bootstrap.min.css" rel="stylesheet"> <link href="https://cdn.waset.org/static/plugins/fontawesome/css/all.min.css" rel="stylesheet"> <link href="https://cdn.waset.org/static/css/site.css?v=150220211555" rel="stylesheet"> </head> <body> <header> <div class="container"> <nav class="navbar navbar-expand-lg navbar-light"> <a class="navbar-brand" href="https://waset.org"> <img src="https://cdn.waset.org/static/images/wasetc.png" alt="Open Science Research Excellence" title="Open Science Research Excellence" /> </a> <button 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action="https://publications.waset.org/abstracts/search"> <div id="custom-search-input"> <div class="input-group"> <i class="fas fa-search"></i> <input type="text" class="search-query" name="q" placeholder="Author, Title, Abstract, Keywords" value="contingent valuation method"> <input type="submit" class="btn_search" value="Search"> </div> </div> </form> </div> </div> <div class="row mt-3"> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Commenced</strong> in January 2007</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Frequency:</strong> Monthly</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Edition:</strong> International</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Paper Count:</strong> 19126</div> </div> </div> </div> <h1 class="mt-3 mb-3 text-center" style="font-size:1.6rem;">Search results for: contingent valuation method</h1> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">19126</span> Economic Valuation of Environmental Services Sustained by Flamboyant Park in Goiania-Go, Brazil</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Brenda%20R.%20Berca">Brenda R. Berca</a>, <a href="https://publications.waset.org/abstracts/search?q=Jessica%20S.%20Vieira"> Jessica S. Vieira</a>, <a href="https://publications.waset.org/abstracts/search?q=Lucas%20G.%20Candido"> Lucas G. Candido</a>, <a href="https://publications.waset.org/abstracts/search?q=Matheus%20C.%20Ferreira"> Matheus C. Ferreira</a>, <a href="https://publications.waset.org/abstracts/search?q=Paulo%20S.%20A.%20Lopes%20Filho"> Paulo S. A. Lopes Filho</a>, <a href="https://publications.waset.org/abstracts/search?q=Rafaella%20O.%20Baracho"> Rafaella O. Baracho</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study aims to estimate the economic value environmental services sustained by Flamboyant Lourival Louza Municipal Park in Goiânia, Goiás, Brazil. The Flamboyant Park is one of the most relevant urban parks, and it is located near a stadium, a shopping center, and two supercenters. In order to define the methods used for the valuation of Flamboyant Park, the first step was carrying out bibliographical research with the view to better understand which method is most feasible to valuate the Park. Thus, the following direct methods were selected: travel cost, hedonic pricing, and contingent valuation. In addition, an indirect method (replacement cost) was applied at Flamboyant Park. The second step was creating and applying two surveys. The first survey aimed at the visitors of the park, addressing socio-economic issues, the use of the Park, as well as its importance and the willingness the visitors, had to pay for its existence. The second survey was destined to the existing trade in the Park, in order to collect data regarding the profits obtained by them. In the end, the characterization of the profile of the visitors and the application of the methods of contingent valuation, travel cost, replacement cost and hedonic pricing were obtained, thus monetarily valuing the various ecosystem services sustained by the park. Some services were not valued due to difficulties encountered during the process. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=contingent%20valuation" title="contingent valuation">contingent valuation</a>, <a href="https://publications.waset.org/abstracts/search?q=ecosystem%20services" title=" ecosystem services"> ecosystem services</a>, <a href="https://publications.waset.org/abstracts/search?q=economic%20environmental%20valuation" title=" economic environmental valuation"> economic environmental valuation</a>, <a href="https://publications.waset.org/abstracts/search?q=hedonic%20pricing" title=" hedonic pricing"> hedonic pricing</a>, <a href="https://publications.waset.org/abstracts/search?q=travel%20cost" title=" travel cost"> travel cost</a> </p> <a href="https://publications.waset.org/abstracts/109560/economic-valuation-of-environmental-services-sustained-by-flamboyant-park-in-goiania-go-brazil" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/109560.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">226</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">19125</span> The Economic Valuation of Public Support Ecosystem: A Contingent Valuation Study in Setiu Wetland, Terengganu Malaysia</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Elmira%20Shamshity">Elmira Shamshity</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study aimed to explore the economic approach for the Setiu wetland evaluation as a future protection strategy. A questionnaire survey was used based on the single-bounded dichotomous choice, contingent valuation method to differentiate individuals’ Willingness to Pay (WTP) for the conservation of the Setiu wetland. The location of study was Terengganu province in Malaysia. The results of the random questionnaire survey showed that protection of Setiu ecosystem is important to the indigenous community. The mean WTP for protection of ecosystem Setiu wetland was 12.985 Ringgit per month per household for 10 years. There was significant variation in the stated amounts of WTP based on the respondents’ knowledge, household income, educational level, and the bid amounts. The findings of this study may help improving understanding the WTP of indigenous people for the protection of wetland, and providing useful information for policy makers to design an effective program of ecosystem protection. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=willingness%20to%20pay" title="willingness to pay">willingness to pay</a>, <a href="https://publications.waset.org/abstracts/search?q=ecosystem" title=" ecosystem"> ecosystem</a>, <a href="https://publications.waset.org/abstracts/search?q=setiu%20wetland" title=" setiu wetland"> setiu wetland</a>, <a href="https://publications.waset.org/abstracts/search?q=Terengganu%20Malaysia" title=" Terengganu Malaysia"> Terengganu Malaysia</a> </p> <a href="https://publications.waset.org/abstracts/32201/the-economic-valuation-of-public-support-ecosystem-a-contingent-valuation-study-in-setiu-wetland-terengganu-malaysia" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/32201.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">605</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">19124</span> Estimation of Time Loss and Costs of Traffic Congestion: The Contingent Valuation Method</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Amira%20Mabrouk">Amira Mabrouk</a>, <a href="https://publications.waset.org/abstracts/search?q=Chokri%20Abdennadher"> Chokri Abdennadher</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The reduction of road congestion which is inherent to the use of vehicles is an obvious priority to public authority. Therefore, assessing the willingness to pay of an individual in order to save trip-time is akin to estimating the change in price which was the result of setting up a new transport policy to increase the networks fluidity and improving the level of social welfare. This study holds an innovative perspective. In fact, it initiates an economic calculation that has the objective of giving an estimation of the monetized time value during the trips made in Sfax. This research is founded on a double-objective approach. The aim of this study is to i) give an estimation of the monetized value of time; an hour dedicated to trips, ii) determine whether or not the consumer considers the environmental variables to be significant, iii) analyze the impact of applying a public management of the congestion via imposing taxation of city tolls on urban dwellers. This article is built upon a rich field survey led in the city of Sfax. With the use of the contingent valuation method, we analyze the “declared time preferences” of 450 drivers during rush hours. Based on the fond consideration of attributed bias of the applied method, we bring to light the delicacy of this approach with regards to the revelation mode and the interrogative techniques by following the NOAA panel recommendations bearing the exception of the valorization point and other similar studies about the estimation of transportation externality. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=willingness%20to%20pay" title="willingness to pay">willingness to pay</a>, <a href="https://publications.waset.org/abstracts/search?q=contingent%20valuation" title=" contingent valuation"> contingent valuation</a>, <a href="https://publications.waset.org/abstracts/search?q=time%20value" title=" time value"> time value</a>, <a href="https://publications.waset.org/abstracts/search?q=city%20toll" title=" city toll"> city toll</a> </p> <a href="https://publications.waset.org/abstracts/39743/estimation-of-time-loss-and-costs-of-traffic-congestion-the-contingent-valuation-method" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/39743.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">434</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">19123</span> Improved Accuracy of Ratio Multiple Valuation</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Julianto%20Agung%20Saputro">Julianto Agung Saputro</a>, <a href="https://publications.waset.org/abstracts/search?q=Jogiyanto%20Hartono"> Jogiyanto Hartono</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Multiple valuation is widely used by investors and practitioners but its accuracy is questionable. Multiple valuation inaccuracies are due to the unreliability of information used in valuation, inaccuracies comparison group selection, and use of individual multiple values. This study investigated the accuracy of valuation to examine factors that can increase the accuracy of the valuation of multiple ratios, that are discretionary accruals, the comparison group, and the composite of multiple valuation. These results indicate that multiple value adjustment method with discretionary accruals provides better accuracy, the industry comparator group method combined with the size and growth of companies also provide better accuracy. Composite of individual multiple valuation gives the best accuracy. If all of these factors combined, the accuracy of valuation of multiple ratios will give the best results. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=multiple" title="multiple">multiple</a>, <a href="https://publications.waset.org/abstracts/search?q=valuation" title=" valuation"> valuation</a>, <a href="https://publications.waset.org/abstracts/search?q=composite" title=" composite"> composite</a>, <a href="https://publications.waset.org/abstracts/search?q=accuracy" title=" accuracy"> accuracy</a> </p> <a href="https://publications.waset.org/abstracts/57424/improved-accuracy-of-ratio-multiple-valuation" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/57424.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">282</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">19122</span> Module Valuations and Quasi-Valuations</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Shai%20Sarussi">Shai Sarussi</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Suppose F is a field with valuation v and valuation domain Oᵥ, and R is an Oᵥ-algebra. It is known that there exists a filter quasi-valuation on R; the existence of a quasi-valuation yields several important connections between Oᵥ and R, in particular with respect to their prime spectra. In this paper, the notion of a module valuation is introduced. It is shown that any torsion-free module over Oᵥ has an induced module valuation. Moreover, several results connecting the filter quasi-valuation and module valuations are presented. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=valuations" title="valuations">valuations</a>, <a href="https://publications.waset.org/abstracts/search?q=quasi-valuations" title=" quasi-valuations"> quasi-valuations</a>, <a href="https://publications.waset.org/abstracts/search?q=prime%20spectrum" title=" prime spectrum"> prime spectrum</a>, <a href="https://publications.waset.org/abstracts/search?q=algebras%20over%20valuation%20domains" title=" algebras over valuation domains"> algebras over valuation domains</a> </p> <a href="https://publications.waset.org/abstracts/139887/module-valuations-and-quasi-valuations" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/139887.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">224</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">19121</span> An Application of Contingent Valuation Method in Valuing Protected Area: A Case Study of Pulau Kukup National Parks</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=A.%20Mukrimah">A. Mukrimah</a>, <a href="https://publications.waset.org/abstracts/search?q=M.%20Mohd%20Parid"> M. Mohd Parid</a>, <a href="https://publications.waset.org/abstracts/search?q=H.%20F.%20Lim"> H. F. Lim </a> </p> <p class="card-text"><strong>Abstract:</strong></p> Wetland ecosystem has valuable resources that contribute to national income generation and public well-being, either directly by resources that have a market value or indirectly by resources that have no market value. Economic approach is used to evaluate the resources to determine the best use of wetland resources and should be emphasized in policy development planning. This approach is to prevent imbalance in the allocation of resources and welfare benefits. A case study was conducted in 2016 to assess the economic value of wetland ecosystem services at Pulau Kukup National Parks (PKNP). This study has applied dichotomous choice survey design Contingent Valuation Method (CVM) to investigate empirically the willingness-to-pay (WTP) by the public. The study interviewed 400 household respondents at Pontian, Johor. Analysis showed 81% of household interviewed were willing to contribute to the Wetland Conservation Trust Fund. The results also indicated that on average a household was willing to pay RM87 annually. By taking into account 21,664 households in Pontian district in 2016, public’s contribution to conserves wetland ecosystem at PKNP was calculated to be RM1, 884,334. From the public’s interest to contribute to the conservation of wetland ecosystem services at PKNP, it indicates that more concerted effort is needed by both the federal and state governments to conserve and rehabilitate the mangrove ecosystem in Malaysia. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=environmental%20economy" title="environmental economy">environmental economy</a>, <a href="https://publications.waset.org/abstracts/search?q=economic%20valuation" title=" economic valuation"> economic valuation</a>, <a href="https://publications.waset.org/abstracts/search?q=choice%20experiment" title=" choice experiment"> choice experiment</a>, <a href="https://publications.waset.org/abstracts/search?q=Pulau%20Kukup%20national%20parks" title=" Pulau Kukup national parks"> Pulau Kukup national parks</a> </p> <a href="https://publications.waset.org/abstracts/77132/an-application-of-contingent-valuation-method-in-valuing-protected-area-a-case-study-of-pulau-kukup-national-parks" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/77132.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">190</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">19120</span> Investigating Willingness to Pay for Water Services in a Newly Established Municipality in Malamulele, Vhembe District Municipality, South Africa</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=D.%20T.%20Chabalala">D. T. Chabalala</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Currently South Africa is facing a triple challenge of poverty, unemployment and inequality. As such, communities have limited access to basic municipal services such as water, sanitation and electricity. Citizens such as those residing at Malamulele Township will be responsible to pay for the cost of water services that they consume instead of having the costs subsidised by the newly formed Municipality. The question on whether Malamulele residents would be willing to pay for water services provided for them need to be investigated. This study was conducted in Malamulele Township and surrounding villages. The article is based on a survey of 500 randomly selected households from township and villages surrounding Malamulele. The study uses the contingent valuation method to determine households’ willingness to pay for water services as well as the consequences they possibly will encounter in case their response is negative. The obtained results can be used by the Municipality and other Government Departments in order to better identify the affordable rates and the quantity of water service to be provided. Thus, it will make Municipality water supply services stable and sustainable. It will also be used as a tool to provide inform decisions about a range of infrastructure to enhance water supply systems. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=willingness%20to%20pay" title="willingness to pay">willingness to pay</a>, <a href="https://publications.waset.org/abstracts/search?q=contingent%20valuation%20method" title=" contingent valuation method"> contingent valuation method</a>, <a href="https://publications.waset.org/abstracts/search?q=water%20supply%20systems" title=" water supply systems"> water supply systems</a>, <a href="https://publications.waset.org/abstracts/search?q=Malamulele" title=" Malamulele"> Malamulele</a> </p> <a href="https://publications.waset.org/abstracts/60715/investigating-willingness-to-pay-for-water-services-in-a-newly-established-municipality-in-malamulele-vhembe-district-municipality-south-africa" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/60715.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">228</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">19119</span> Willingness to Pay for the Preservation of Geothermal Areas in Iceland: The Contingent Valuation Studies of Eldvörp and Hverahlíð</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=David%20Cook">David Cook</a>, <a href="https://publications.waset.org/abstracts/search?q=Brynhildur%20Davidsdottir"> Brynhildur Davidsdottir</a>, <a href="https://publications.waset.org/abstracts/search?q=Dadi.%20M.%20%20Kristofersson"> Dadi. M. Kristofersson</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The approval of development projects with significant environmental impacts implies that the economic costs of the affected environmental resources must be less than the financial benefits, but such irreversible decisions are frequently made without ever attempting to estimate the monetary value of the losses. Due to this knowledge gap in the processes informing decision-making, development projects are commonly approved despite the potential for social welfare to be undermined. Heeding a repeated call by the OECD to commence economic accounting of environmental impacts as part of the cost-benefit analysis process for Icelandic energy projects, this paper sets out the results pertaining to the nation’s first two contingent valuation studies of geothermal areas likely to be developed in the near future. Interval regression using log-transformation was applied to estimate willingness to pay (WTP) for the preservation of the high-temperature Eldvörp and Hverahlíð fields. The estimated mean WTP was 8,333 and 7,122 ISK for Eldvörp and Hverahlíð respectively. Scaled up to the Icelandic population of national taxpayers, this equates to estimated total economic value of 2.10 and 1.77 billion ISK respectively. These results reinforce arguments in favour of accounting for the environmental impacts of Iceland’s future geothermal power projects as a mandatory component of the exploratory and production license application process. Further research is necessary to understand the economic impacts to specific ecosystem services associated with geothermal environments, particularly connected to changes in recreational amenity. In so doing, it would be possible to gain greater comprehension of the various components of total economic value, evolving understanding of why one geothermal area – in this case, Eldvörp – has a higher preservation value than another. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=decision-making" title="decision-making">decision-making</a>, <a href="https://publications.waset.org/abstracts/search?q=contingent%20valuation" title=" contingent valuation"> contingent valuation</a>, <a href="https://publications.waset.org/abstracts/search?q=geothermal%20energy" title=" geothermal energy"> geothermal energy</a>, <a href="https://publications.waset.org/abstracts/search?q=preservation" title=" preservation"> preservation</a> </p> <a href="https://publications.waset.org/abstracts/61594/willingness-to-pay-for-the-preservation-of-geothermal-areas-in-iceland-the-contingent-valuation-studies-of-eldvorp-and-hverahlid" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/61594.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">214</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">19118</span> Economic Valuation of Emissions from Mobile Sources in the Urban Environment of Bogotá</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Dayron%20Camilo%20Bermudez%20Mendoza">Dayron Camilo Bermudez Mendoza</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Road transportation is a significant source of externalities, notably in terms of environmental degradation and the emission of pollutants. These emissions adversely affect public health, attributable to criteria pollutants like particulate matter (PM2.5 and PM10) and carbon monoxide (CO), and also contribute to climate change through the release of greenhouse gases, such as carbon dioxide (CO2). It is, therefore, crucial to quantify the emissions from mobile sources and develop a methodological framework for their economic valuation, aiding in the assessment of associated costs and informing policy decisions. The forthcoming congress will shed light on the externalities of transportation in Bogotá, showcasing methodologies and findings from the construction of emission inventories and their spatial analysis within the city. This research focuses on the economic valuation of emissions from mobile sources in Bogotá, employing methods like hedonic pricing and contingent valuation. Conducted within the urban confines of Bogotá, the study leverages demographic, transportation, and emission data sourced from the Mobility Survey, official emission inventories, and tailored estimates and measurements. The use of hedonic pricing and contingent valuation methodologies facilitates the estimation of the influence of transportation emissions on real estate values and gauges the willingness of Bogotá's residents to invest in reducing these emissions. The findings are anticipated to be instrumental in the formulation and execution of public policies aimed at emission reduction and air quality enhancement. In compiling the emission inventory, innovative data sources were identified to determine activity factors, including information from automotive diagnostic centers and used vehicle sales websites. The COPERT model was utilized to ascertain emission factors, requiring diverse inputs such as data from the national transit registry (RUNT), OpenStreetMap road network details, climatological data from the IDEAM portal, and Google API for speed analysis. Spatial disaggregation employed GIS tools and publicly available official spatial data. The development of the valuation methodology involved an exhaustive systematic review, utilizing platforms like the EVRI (Environmental Valuation Reference Inventory) portal and other relevant sources. The contingent valuation method was implemented via surveys in various public settings across the city, using a referendum-style approach for a sample of 400 residents. For the hedonic price valuation, an extensive database was developed, integrating data from several official sources and basing analyses on the per-square meter property values in each city block. The upcoming conference anticipates the presentation and publication of these results, embodying a multidisciplinary knowledge integration and culminating in a master's thesis. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=economic%20valuation" title="economic valuation">economic valuation</a>, <a href="https://publications.waset.org/abstracts/search?q=transport%20economics" title=" transport economics"> transport economics</a>, <a href="https://publications.waset.org/abstracts/search?q=pollutant%20emissions" title=" pollutant emissions"> pollutant emissions</a>, <a href="https://publications.waset.org/abstracts/search?q=urban%20transportation" title=" urban transportation"> urban transportation</a>, <a href="https://publications.waset.org/abstracts/search?q=sustainable%20mobility" title=" sustainable mobility"> sustainable mobility</a> </p> <a href="https://publications.waset.org/abstracts/182193/economic-valuation-of-emissions-from-mobile-sources-in-the-urban-environment-of-bogota" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/182193.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">58</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">19117</span> Attitude Towards Carnivore-Livestock Conflict and It’s Effect on Households Willingness to Pay for Organic Meat: A Contingent Valuation Approach</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Abinet%20Tilahun%20Aweke">Abinet Tilahun Aweke</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In Europe, there is a growing interest in food produced ethically and with a broader benefit for society. Consumers could consider numerous extrinsic and intrinsic quality attributes, including organically produced, when selecting meat to purchase. Many studies recorded various reasons why consumers may choose to pay the premium price for organic foods, although willingness to pay (WTP) for organic meat and motives behind the WTPs differ depending on the meat type/cut and place. Employing state of the art stated preference (SP) method, this study seeks to find out how environmental attitudes and health concerns shape the demand for organic agriculture in Norway. More specifically, this paper contributes to the existing knowledge on consumer preferences by exploring if consumer's attitude towards carnivore-sheep conflict affects the willingness to pay (WTP) for organic meat. This study will also have a methodological contribution by investigating whether having environmental attitude and carnivore-livestock conflict questions prior to the organic meat WTP question will significantly affect the will to pay and the amount paid. Understanding the effect of the content of the auxiliary questions posed before WTP questions will help to improve future CV survey designs and hence the validity of the results obtained. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=attitude" title="attitude">attitude</a>, <a href="https://publications.waset.org/abstracts/search?q=consumer%20reference" title=" consumer reference"> consumer reference</a>, <a href="https://publications.waset.org/abstracts/search?q=contingent%20valuation" title=" contingent valuation"> contingent valuation</a>, <a href="https://publications.waset.org/abstracts/search?q=meat" title=" meat"> meat</a>, <a href="https://publications.waset.org/abstracts/search?q=organic" title=" organic"> organic</a>, <a href="https://publications.waset.org/abstracts/search?q=stated%20preference" title=" stated preference"> stated preference</a>, <a href="https://publications.waset.org/abstracts/search?q=survey%20design" title=" survey design"> survey design</a> </p> <a href="https://publications.waset.org/abstracts/141834/attitude-towards-carnivore-livestock-conflict-and-its-effect-on-households-willingness-to-pay-for-organic-meat-a-contingent-valuation-approach" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/141834.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">101</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">19116</span> Adoption and Diffusion of Valuation Standards in the Forensic Accounting Community and in Courts: Facilitating and Inhibiting Factors</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Matteo%20Manera">Matteo Manera</a>, <a href="https://publications.waset.org/abstracts/search?q=Mariateresa%20Torchia"> Mariateresa Torchia</a>, <a href="https://publications.waset.org/abstracts/search?q=Gregory%20Moscato"> Gregory Moscato</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Forensic accounting is a hot subject of research in accounting. Valuation remains one of the major topics for practitioners. Valuation standards are a powerful instrument that can contribute to a fair process: their use aims at reducing subjectivity and arbitrary decisions in courts. In most jurisdictions, valuation standards are not the law: forensic accountants are not obliged to use valuation standards when they perform valuation works for judges. To date, as far as we know, no literature work has investigated adoption and diffusion of valuation standards in the forensic accounting space. In this paper, we analyze the spread of valuation standards through the lenses of isomorphism and -as corollaries- of Agency Theory and Signaling Theory. Because of lack of research in the particular area of valuation standards adoption, the present work relies on qualitative, exploratory research, based on semi-structured interviews conducted (up to saturation) with expert forensic accountants. Our work digs into motivations behind adoption and diffusion, as well into perceptions of forensic accountants around benefits of valuation standards and into barriers to their diffusion: the result is that, while the vast majority of forensic accountants praise the great work of the standards setters in introducing valuation standards, it might be that less than 50% of forensic accountants actually use valuation standards, in courts. Our preliminary findings, to be supported or refuted by future research, lead us to address a “trilogy” of recommendations to the stakeholders involved in the process of adoption and diffusion of valuation standards in courts. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=forensic%20accounting" title="forensic accounting">forensic accounting</a>, <a href="https://publications.waset.org/abstracts/search?q=valuation%20standards" title=" valuation standards"> valuation standards</a>, <a href="https://publications.waset.org/abstracts/search?q=adoption%20of%20standards" title=" adoption of standards"> adoption of standards</a>, <a href="https://publications.waset.org/abstracts/search?q=motivations" title=" motivations"> motivations</a>, <a href="https://publications.waset.org/abstracts/search?q=benefits" title=" benefits"> benefits</a>, <a href="https://publications.waset.org/abstracts/search?q=barriers" title=" barriers"> barriers</a>, <a href="https://publications.waset.org/abstracts/search?q=Isomorphism" title=" Isomorphism"> Isomorphism</a> </p> <a href="https://publications.waset.org/abstracts/139052/adoption-and-diffusion-of-valuation-standards-in-the-forensic-accounting-community-and-in-courts-facilitating-and-inhibiting-factors" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/139052.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">172</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">19115</span> Household's Willingness to Pay for Safe Non-Timber Forest Products at Morikouali-Ye Community Forest in Cameroon</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Eke%20Balla%20Sophie%20Michelle">Eke Balla Sophie Michelle</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Forest provides a wide range of environmental goods and services among which, biodiversity or consumption goods and constitute public goods. Despite the importance of non-timber forest products (NTFPs) in sustaining livelihood and poverty smoothening in rural communities, they are highly depleted and poorly conserved. Yokadouma is a town where NTFPs is a renewable resource in active exploitation. It has been found that such exploitation is done in the same conditions as other localities that have experienced a rapid depletion of their NTFPs in destination to cities across Cameroon, Central Africa, and overseas. Given these realities, it is necessary to access the consequences of this overexploitation through negative effects on both the population and the environment. Therefore, to enhance participatory conservation initiatives, this study determines the household’s willingness to pay in community forest (CF) of Morikouali-ye, eastern region of Cameroon, for sustainable exploitation of NTFPs using contingent valuation method (CVM) through two approaches, one parametric (Logit model) and the other non-parametric (estimator of the Turnbull lower bound). The results indicate that five species are the most collected in the study area: Irvingia gabonensis, the Ricinodendron heudelotii, Gnetum, the Jujube and bark, their sale contributes significantly to 41 % of total household income. The average willingness to pay through the Logit model and the Turnbull estimator is 6845.2861 FCFA and 4940 FCFA respectively per household per year with a social cost of degradation estimated at 3237820.3253 FCFA years. The probability to pay increases with income, gender, number of women in the household, age, the commercial activity of NTFPs and decreases with the concept of sustainable development. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=non%20timber%20forest%20product" title="non timber forest product">non timber forest product</a>, <a href="https://publications.waset.org/abstracts/search?q=contingent%20valuation%20method" title=" contingent valuation method"> contingent valuation method</a>, <a href="https://publications.waset.org/abstracts/search?q=willingness%20to%20pay" title=" willingness to pay"> willingness to pay</a>, <a href="https://publications.waset.org/abstracts/search?q=sustainable%20development" title=" sustainable development"> sustainable development</a> </p> <a href="https://publications.waset.org/abstracts/6978/households-willingness-to-pay-for-safe-non-timber-forest-products-at-morikouali-ye-community-forest-in-cameroon" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/6978.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">446</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">19114</span> Imputing the Minimum Social Value of Public Healthcare: A General Equilibrium Model of Israel</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Erez%20Yerushalmi">Erez Yerushalmi</a>, <a href="https://publications.waset.org/abstracts/search?q=Sani%20Ziv"> Sani Ziv</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The rising demand for healthcare services, without a corresponding rise in public supply, led to a debate on whether to increase private healthcare provision - especially in hospital services and second-tier healthcare. Proponents for increasing private healthcare highlight gains in efficiency, while opponents its risk to social welfare. None, however, provide a measure of the social value and its impact on the economy in terms of a monetary value. In this paper, we impute a minimum social value of public healthcare that corresponds to indifference between gains in efficiency, with losses to social welfare. Our approach resembles contingent valuation methods that introduce a hypothetical market for non-commodities, but is different from them because we use numerical simulation techniques to exploit certain market failure conditions. In this paper, we develop a general equilibrium model that distinguishes between public-private healthcare services and public-private financing. Furthermore, the social value is modelled as a by product of healthcare services. The model is then calibrated to our unique health focused Social Accounting Matrix of Israel, and simulates the introduction of a hypothetical health-labour market - given that it is heavily regulated in the baseline (i.e., the true situation in Israel today). For baseline parameters, we estimate the minimum social value at around 18% public healthcare financing. The intuition is that the gain in economic welfare from improved efficiency, is offset by the loss in social welfare due to a reduction in available social value. We furthermore simulate a deregulated healthcare scenario that internalizes the imputed value of social value and searches for the optimal weight of public and private healthcare provision. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=contingent%20valuation%20method%20%28CVM%29" title="contingent valuation method (CVM)">contingent valuation method (CVM)</a>, <a href="https://publications.waset.org/abstracts/search?q=general%20equilibrium%20model" title=" general equilibrium model"> general equilibrium model</a>, <a href="https://publications.waset.org/abstracts/search?q=hypothetical%20market" title=" hypothetical market"> hypothetical market</a>, <a href="https://publications.waset.org/abstracts/search?q=private-public%20healthcare" title=" private-public healthcare"> private-public healthcare</a>, <a href="https://publications.waset.org/abstracts/search?q=social%20value%20of%20public%20healthcare" title=" social value of public healthcare"> social value of public healthcare</a> </p> <a href="https://publications.waset.org/abstracts/107026/imputing-the-minimum-social-value-of-public-healthcare-a-general-equilibrium-model-of-israel" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/107026.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">146</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">19113</span> The Non-Uniqueness of Partial Differential Equations Options Price Valuation Formula for Heston Stochastic Volatility Model</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=H.%20D.%20Ibrahim">H. D. Ibrahim</a>, <a href="https://publications.waset.org/abstracts/search?q=H.%20C.%20Chinwenyi"> H. C. Chinwenyi</a>, <a href="https://publications.waset.org/abstracts/search?q=T.%20Danjuma"> T. Danjuma</a> </p> <p class="card-text"><strong>Abstract:</strong></p> An option is defined as a financial contract that provides the holder the right but not the obligation to buy or sell a specified quantity of an underlying asset in the future at a fixed price (called a strike price) on or before the expiration date of the option. This paper examined two approaches for derivation of Partial Differential Equation (PDE) options price valuation formula for the Heston stochastic volatility model. We obtained various PDE option price valuation formulas using the riskless portfolio method and the application of Feynman-Kac theorem respectively. From the results obtained, we see that the two derived PDEs for Heston model are distinct and non-unique. This establishes the fact of incompleteness in the model for option price valuation. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Black-Scholes%20partial%20differential%20equations" title="Black-Scholes partial differential equations">Black-Scholes partial differential equations</a>, <a href="https://publications.waset.org/abstracts/search?q=Ito%20process" title=" Ito process"> Ito process</a>, <a href="https://publications.waset.org/abstracts/search?q=option%20price%20valuation" title=" option price valuation"> option price valuation</a>, <a href="https://publications.waset.org/abstracts/search?q=partial%20differential%20equations" title=" partial differential equations"> partial differential equations</a> </p> <a href="https://publications.waset.org/abstracts/131307/the-non-uniqueness-of-partial-differential-equations-options-price-valuation-formula-for-heston-stochastic-volatility-model" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/131307.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">145</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">19112</span> Effects of MBSR on Self-Esteem and Well-Being: The Key Role of Contingent Self-Esteem in Predicting Well-Being Compared to Explicit Self-Esteem</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Sergio%20Luna">Sergio Luna</a>, <a href="https://publications.waset.org/abstracts/search?q=Raquel%20Rodr%C3%ADguez-Carvajal"> Raquel Rodríguez-Carvajal</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This research examines the effectiveness of a mindfulness-based intervention in optimizing psychological well-being, with a particular focus on self-esteem, due to the rapid growth and consolidation of social network use and the increased frequency and intensity of upward comparisons of the self. The study aims to assess the potential of a mindfulness-based intervention to improve self-esteem and, in particular, to contribute to its greater stability by reducing levels of contingent self-esteem. Results show that an 8-week mindfulness-based stress reduction program was effective in increasing participants' (n=206) trait mindfulness, explicit self-esteem, and well-being, while decreasing contingent self-esteem. Furthermore, the study found that improvements in both explicit and contingent self-esteem were significantly correlated with increases in psychological well-being, but that contingent self-esteem had a stronger effect on well-being than explicit self-esteem. These findings highlight the importance of considering additional dimensions of self-esteem beyond levels, and suggest that mindfulness-based interventions may be a valuable tool for promoting a healthier form of self-esteem that contributes to personal well-being. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=MBSR" title="MBSR">MBSR</a>, <a href="https://publications.waset.org/abstracts/search?q=contingent%20self-esteem" title=" contingent self-esteem"> contingent self-esteem</a>, <a href="https://publications.waset.org/abstracts/search?q=explicit%20self-esteem" title=" explicit self-esteem"> explicit self-esteem</a>, <a href="https://publications.waset.org/abstracts/search?q=well-being" title=" well-being"> well-being</a> </p> <a href="https://publications.waset.org/abstracts/165367/effects-of-mbsr-on-self-esteem-and-well-being-the-key-role-of-contingent-self-esteem-in-predicting-well-being-compared-to-explicit-self-esteem" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/165367.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">85</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">19111</span> Earnings vs Cash Flows: The Valuation Perspective</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Megha%20Agarwal">Megha Agarwal</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The research paper is an effort to compare the earnings based and cash flow based methods of valuation of an enterprise. The theoretically equivalent methods based on either earnings such as Residual Earnings Model (REM), Abnormal Earnings Growth Model (AEGM), Residual Operating Income Method (ReOIM), Abnormal Operating Income Growth Model (AOIGM) and its extensions multipliers such as price/earnings ratio, price/book value ratio; or cash flow based models such as Dividend Valuation Method (DVM) and Free Cash Flow Method (FCFM) all provide different estimates of valuation of the Indian giant corporate Reliance India Limited (RIL). An ex-post analysis of published accounting and financial data for four financial years from 2008-09 to 2011-12 has been conducted. A comparison of these valuation estimates with the actual market capitalization of the company shows that the complex accounting based model AOIGM provides closest forecasts. These different estimates may be derived due to inconsistencies in discount rate, growth rates and the other forecasted variables. Although inputs for earnings based models may be available to the investor and analysts through published statements, precise estimation of free cash flows may be better undertaken by the internal management. The estimation of value from more stable parameters as residual operating income and RNOA could be considered superior to the valuations from more volatile return on equity. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=earnings" title="earnings">earnings</a>, <a href="https://publications.waset.org/abstracts/search?q=cash%20flows" title=" cash flows"> cash flows</a>, <a href="https://publications.waset.org/abstracts/search?q=valuation" title=" valuation"> valuation</a>, <a href="https://publications.waset.org/abstracts/search?q=Residual%20Earnings%20Model%20%28REM%29" title=" Residual Earnings Model (REM)"> Residual Earnings Model (REM)</a> </p> <a href="https://publications.waset.org/abstracts/11464/earnings-vs-cash-flows-the-valuation-perspective" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/11464.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">375</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">19110</span> Households’ Willingness to Pay for Watershed Management Practices in Lake Hawassa Watershed, Southern Ethiopia</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Mulugeta%20Fola">Mulugeta Fola</a>, <a href="https://publications.waset.org/abstracts/search?q=Mengistu%20Ketema"> Mengistu Ketema</a>, <a href="https://publications.waset.org/abstracts/search?q=Kumilachew%20Alamerie"> Kumilachew Alamerie</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Watershed provides vast economic benefits within and beyond the management area of interest. But most watersheds in Ethiopia are increasingly facing the threats of degradation due to both natural and man-made causes. To reverse these problems, communities’ participation in sustainable management programs is among the necessary measures. Hence, this study assessed the households’ willingness to pay for watershed management practices through a contingent valuation study approach. Double bounded dichotomous choice with open-ended follow-up format was used to elicit the households’ willingness to pay. Based on data collected from 275 randomly selected households, descriptive statistics results indicated that most households (79.64%) were willing to pay for watershed management practices. A bivariate Probit model was employed to identify determinants of households’ willingness to pay and estimate mean willingness to pay. Its result shows that age, gender, income, livestock size, perception of watershed degradation, social position, and offered bids were important variables affecting willingness to pay for watershed management practices. The study also revealed that the mean willingness to pay for watershed management practices was calculated to be 58.41 Birr and 47.27 Birr per year from the double bounded and open-ended format, respectively. The study revealed that the aggregate welfare gains from watershed management practices were calculated to be 931581.09 Birr and 753909.23 Birr per year from double bounded dichotomous choice and open-ended format, respectively. Therefore, the policymakers should make households to pay for the services of watershed management practices in the study area. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=bivariate%20probit%20model" title="bivariate probit model">bivariate probit model</a>, <a href="https://publications.waset.org/abstracts/search?q=contingent%20valuation" title=" contingent valuation"> contingent valuation</a>, <a href="https://publications.waset.org/abstracts/search?q=watershed%20management%20practices" title=" watershed management practices"> watershed management practices</a>, <a href="https://publications.waset.org/abstracts/search?q=willingness%20to%20pay" title=" willingness to pay"> willingness to pay</a> </p> <a href="https://publications.waset.org/abstracts/139235/households-willingness-to-pay-for-watershed-management-practices-in-lake-hawassa-watershed-southern-ethiopia" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/139235.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">224</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">19109</span> Payment of Carbon Offsetting: A Case Study in Dharan, Nepal</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Mana%20Shrestha">Mana Shrestha</a>, <a href="https://publications.waset.org/abstracts/search?q=Dhruba%20Khatri"> Dhruba Khatri</a>, <a href="https://publications.waset.org/abstracts/search?q=Pralhad%20Kunwor"> Pralhad Kunwor</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The objective of the study was to explore the vehicle owners’ willingness to pay (WTP) for offsetting carbon that could eventually facilitate local governmental institutions to take further step in environmental conservation. Contingent valuation method was used to find out how much amount people were willing to pay for the carbon service they are getting from providers. Open ended questionnaire was carried out with 181 respondents randomly. The result shows different mean willingness to pay amount depending upon demographic variations like education, occupation, sex and residence but the occupation and the educational status significantly affected the WTP of respondent. Total WTP amount was calculated as 650 NRS. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=community%20forest" title="community forest">community forest</a>, <a href="https://publications.waset.org/abstracts/search?q=carbon%20offset" title=" carbon offset"> carbon offset</a>, <a href="https://publications.waset.org/abstracts/search?q=Kyoto" title=" Kyoto"> Kyoto</a>, <a href="https://publications.waset.org/abstracts/search?q=REDD%20WTP" title=" REDD WTP"> REDD WTP</a> </p> <a href="https://publications.waset.org/abstracts/33506/payment-of-carbon-offsetting-a-case-study-in-dharan-nepal" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/33506.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">304</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">19108</span> Approaches to Valuing Ecosystem Services in Agroecosystems From the Perspectives of Ecological Economics and Agroecology</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Sandra%20Cecilia%20Bautista-Rodr%C3%ADguez">Sandra Cecilia Bautista-Rodríguez</a>, <a href="https://publications.waset.org/abstracts/search?q=Vladimir%20Melgarejo"> Vladimir Melgarejo</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Climate change, loss of ecosystems, increasing poverty, increasing marginalization of rural communities and declining food security are global issues that require urgent attention. In this regard, a great deal of research has focused on how agroecosystems respond to these challenges as they provide ecosystem services (ES) that lead to higher levels of resilience, adaptation, productivity and self-sufficiency. Hence, the valuing of ecosystem services plays an important role in the decision-making process for the design and management of agroecosystems. This paper aims to define the link between ecosystem service valuation methods and ES value dimensions in agroecosystems from ecological economics and agroecology. The method used to identify valuation methodologies was a literature review in the fields of Agroecology and Ecological Economics, based on a strategy of information search and classification. The conceptual framework of the work is based on the multidimensionality of value, considering the social, ecological, political, technological and economic dimensions. Likewise, the valuation process requires consideration of the ecosystem function associated with ES, such as regulation, habitat, production and information functions. In this way, valuation methods for ES in agroecosystems can integrate more than one value dimension and at least one ecosystem function. The results allow correlating the ecosystem functions with the ecosystem services valued, and the specific tools or models used, the dimensions and valuation methods. The main methodologies identified are multi-criteria valuation (1), deliberative - consultative valuation (2), valuation based on system dynamics modeling (3), valuation through energy or biophysical balances (4), valuation through fuzzy logic modeling (5), valuation based on agent-based modeling (6). Amongst the main conclusions, it is highlighted that the system dynamics modeling approach has a high potential for development in valuation processes, due to its ability to integrate other methods, especially multi-criteria valuation and energy and biophysical balances, to describe through causal cycles the interrelationships between ecosystem services, the dimensions of value in agroecosystems, thus showing the relationships between the value of ecosystem services and the welfare of communities. As for methodological challenges, it is relevant to achieve the integration of tools and models provided by different methods, to incorporate the characteristics of a complex system such as the agroecosystem, which allows reducing the limitations in the processes of valuation of ES. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=ecological%20economics" title="ecological economics">ecological economics</a>, <a href="https://publications.waset.org/abstracts/search?q=agroecosystems" title=" agroecosystems"> agroecosystems</a>, <a href="https://publications.waset.org/abstracts/search?q=ecosystem%20services" title=" ecosystem services"> ecosystem services</a>, <a href="https://publications.waset.org/abstracts/search?q=valuation%20of%20ecosystem%20services" title=" valuation of ecosystem services"> valuation of ecosystem services</a> </p> <a href="https://publications.waset.org/abstracts/160012/approaches-to-valuing-ecosystem-services-in-agroecosystems-from-the-perspectives-of-ecological-economics-and-agroecology" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/160012.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">123</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">19107</span> The Martingale Options Price Valuation for European Puts Using Stochastic Differential Equation Models</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=H.%20C.%20Chinwenyi">H. C. Chinwenyi</a>, <a href="https://publications.waset.org/abstracts/search?q=H.%20D.%20Ibrahim"> H. D. Ibrahim</a>, <a href="https://publications.waset.org/abstracts/search?q=F.%20A.%20Ahmed"> F. A. Ahmed</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In modern financial mathematics, valuing derivatives such as options is often a tedious task. This is simply because their fair and correct prices in the future are often probabilistic. This paper examines three different Stochastic Differential Equation (SDE) models in finance; the Constant Elasticity of Variance (CEV) model, the Balck-Karasinski model, and the Heston model. The various Martingales option price valuation formulas for these three models were obtained using the replicating portfolio method. Also, the numerical solution of the derived Martingales options price valuation equations for the SDEs models was carried out using the Monte Carlo method which was implemented using MATLAB. Furthermore, results from the numerical examples using published data from the Nigeria Stock Exchange (NSE), all share index data show the effect of increase in the underlying asset value (stock price) on the value of the European Put Option for these models. From the results obtained, we see that an increase in the stock price yields a decrease in the value of the European put option price. Hence, this guides the option holder in making a quality decision by not exercising his right on the option. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=equivalent%20martingale%20measure" title="equivalent martingale measure">equivalent martingale measure</a>, <a href="https://publications.waset.org/abstracts/search?q=European%20put%20option" title=" European put option"> European put option</a>, <a href="https://publications.waset.org/abstracts/search?q=girsanov%20theorem" title=" girsanov theorem"> girsanov theorem</a>, <a href="https://publications.waset.org/abstracts/search?q=martingales" title=" martingales"> martingales</a>, <a href="https://publications.waset.org/abstracts/search?q=monte%20carlo%20method" title=" monte carlo method"> monte carlo method</a>, <a href="https://publications.waset.org/abstracts/search?q=option%20price%20valuation%20formula" title=" option price valuation formula"> option price valuation formula</a> </p> <a href="https://publications.waset.org/abstracts/111011/the-martingale-options-price-valuation-for-european-puts-using-stochastic-differential-equation-models" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/111011.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">134</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">19106</span> Cost Valuation Method for Development Concurrent, Phase Appropriate Requirement Valuation Using the Example of Load Carrier Development in the Lithium-Ion-Battery Production</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Achim%20Kampker">Achim Kampker</a>, <a href="https://publications.waset.org/abstracts/search?q=Christoph%20Deutskens"> Christoph Deutskens</a>, <a href="https://publications.waset.org/abstracts/search?q=Heiner%20Hans%20Heimes"> Heiner Hans Heimes</a>, <a href="https://publications.waset.org/abstracts/search?q=Mathias%20Ordung"> Mathias Ordung</a>, <a href="https://publications.waset.org/abstracts/search?q=Felix%20Optehostert"> Felix Optehostert</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In the past years electric mobility became part of a public discussion. The trend to fully electrified vehicles instead of vehicles fueled with fossil energy has notably gained momentum. Today nearly every big car manufacturer produces and sells fully electrified vehicles, but electrified vehicles are still not as competitive as conventional powered vehicles. As the traction battery states the largest cost driver, lowering its price is a crucial objective. In addition to improvements in product and production processes a non-negligible, but widely underestimated cost driver of production can be found in logistics, since the production technology is not continuous yet and neither are the logistics systems. This paper presents an approach to evaluate cost factors on different designs of load carrier systems. Due to numerous interdependencies, the combination of costs factors for a particular scenario is not transparent. This is effecting actions for cost reduction negatively, but still cost reduction is one of the major goals for simultaneous engineering processes. Therefore a concurrent and phase appropriate cost valuation method is necessary to serve cost transparency. In this paper the four phases of this cost valuation method are defined and explained, which based upon a new approach integrating the logistics development process in to the integrated product and process development. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=research%20and%20development" title="research and development">research and development</a>, <a href="https://publications.waset.org/abstracts/search?q=technology%20and%20innovation" title=" technology and innovation"> technology and innovation</a>, <a href="https://publications.waset.org/abstracts/search?q=lithium-ion-battery%20production" title=" lithium-ion-battery production"> lithium-ion-battery production</a>, <a href="https://publications.waset.org/abstracts/search?q=load%20carrier%20development%20process" title=" load carrier development process"> load carrier development process</a>, <a href="https://publications.waset.org/abstracts/search?q=cost%20valuation%20method" title=" cost valuation method"> cost valuation method</a> </p> <a href="https://publications.waset.org/abstracts/35403/cost-valuation-method-for-development-concurrent-phase-appropriate-requirement-valuation-using-the-example-of-load-carrier-development-in-the-lithium-ion-battery-production" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/35403.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">594</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">19105</span> Valuation of Green Commercial Office Building: A Preliminary Study of Malaysian Valuers' Insight</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Tuti%20Haryati%20Jasimin">Tuti Haryati Jasimin</a>, <a href="https://publications.waset.org/abstracts/search?q=Hishamuddin%20Mohd%20Ali"> Hishamuddin Mohd Ali</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Malaysia’s green building development is gaining momentum and green buildings have become a key focus area especially within the commercial sector with the encouragement of government legislation and policy. Due to the emerging awareness among the market players’ views of the benefits associated with the ownership of green buildings in Malaysia, there is a need for valuers to incorporate consideration of sustainability into their assessments of property market value to ensure the green buildings continue to increase in the market. This paper analyses the valuers’ current perception on the valuation practices with regard to the green issues in Malaysia. The study was based on a survey of registered real estate valuers and the experts whose work related to valuation in the Klang Valley area to rate their view regarding the perception on valuation of green building. The findings present evidence that even though Malaysian valuers have limited knowledge of green buildings, they recognize the importance of incorporating the green features in the valuation process. The inclusion of incorporating the green features in valuations in practice was hindered by the inadequacy of sufficient transactional data in the market. Furthermore, valuers experienced difficulty in identifying what are the various input parameters of green building and how to adjust it in order to reflect the benefit of sustainability features correctly in the valuation process. This paper focuses on the present challenges confronted by Malaysian valuers with regards to incorporating the green features in their valuation. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=green%20commercial%20office%20building" title="green commercial office building">green commercial office building</a>, <a href="https://publications.waset.org/abstracts/search?q=Malaysia" title=" Malaysia"> Malaysia</a>, <a href="https://publications.waset.org/abstracts/search?q=valuers%E2%80%99%20perception" title=" valuers’ perception"> valuers’ perception</a>, <a href="https://publications.waset.org/abstracts/search?q=valuation" title=" valuation"> valuation</a>, <a href="https://publications.waset.org/abstracts/search?q=commercial%20sector" title=" commercial sector"> commercial sector</a> </p> <a href="https://publications.waset.org/abstracts/29619/valuation-of-green-commercial-office-building-a-preliminary-study-of-malaysian-valuers-insight" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/29619.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">323</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">19104</span> Choosing the Green Energy Option: A Willingness to Pay Study of Metro Manila Residents for Solar Renewable Energy</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Paolo%20Magnata">Paolo Magnata</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The energy market in the Philippines remains to have one of the highest electricity rates in the region averaging at US$0.16/kWh (PHP6.89/kWh), excluding VAT, as opposed to the overall energy market average of US$0.13/kWh. The movement towards renewable energy, specifically solar energy, will pose as an expensive one with the country’s energy sector providing Feed-in-Tariff rates as high as US$0.17/kWh (PHP8.69/kWh) for solar energy power plants. Increasing the share of renewables at the current state of the energy regulatory background would yield a three-fold increase in residential electricity bills. The issue lies in the uniform charge that consumers bear regardless of where the electricity is sourced resulting in rates that only consider costs and not the consumers. But if they are given the option to choose where their electricity comes from, a number of consumers may potentially choose economically costlier sources of electricity due to higher levels of utility coupled with the willingness to pay of consuming environmentally-friendly sourced electricity. A contingent valuation survey was conducted to determine their willingness-to-pay for solar energy on a sample that was representative of Metro Manila to elicit their willingness-to-pay and a Single Bounded Dichotomous Choice and Double Bounded Dichotomous Choice analysis was used to estimate the amount they were willing to pay. The results showed that Metro Manila residents are willing to pay a premium on top of their current electricity bill amounting to US$5.71 (PHP268.42) – US$9.26 (PHP435.37) per month which is approximately 0.97% - 1.29% of their monthly household income. It was also discovered that besides higher income of households, a higher level of self-perceived knowledge on environmental awareness significantly affected the likelihood of a consumer to pay the premium. Shifting towards renewable energy is an expensive move not only for the government because of high capital investment but also to consumers; however, the Green Energy Option (a policy mechanism which gives consumers the option to decide where their electricity comes from) can potentially balance the shift of the economic burden by transitioning from a uniformly charged electricity rate to equitably charging consumers based on their willingness to pay for renewably sourced energy. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=contingent%20valuation" title="contingent valuation">contingent valuation</a>, <a href="https://publications.waset.org/abstracts/search?q=dichotomous%20choice" title=" dichotomous choice"> dichotomous choice</a>, <a href="https://publications.waset.org/abstracts/search?q=Philippines" title=" Philippines"> Philippines</a>, <a href="https://publications.waset.org/abstracts/search?q=solar%20energy" title=" solar energy"> solar energy</a> </p> <a href="https://publications.waset.org/abstracts/68368/choosing-the-green-energy-option-a-willingness-to-pay-study-of-metro-manila-residents-for-solar-renewable-energy" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/68368.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">343</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">19103</span> Disrupted or Discounted Cash Flow: Impact of Digitisation on Business Valuation</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Matthias%20Haerri">Matthias Haerri</a>, <a href="https://publications.waset.org/abstracts/search?q=Tobias%20Huettche"> Tobias Huettche</a>, <a href="https://publications.waset.org/abstracts/search?q=Clemens%20Kustner"> Clemens Kustner</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This article discusses the impact of digitization on business valuation. In order to become and remain ‘digital’, investments are necessary whose return on investment (ROI) often remains vague. This uncertainty is contradictory for a valuation, that rely on predictable cash flows, fixed capital structures and the steady state. However digitisation does not make a company valuation impossible, but traditional approaches must be reconsidered. The authors identify four areas that are to be changing: (1) Tools instead of intuition - In the future, company valuation will neither be art nor science, but craft. This does not require intuition, but experience and good tools. Digital evaluation tools beyond Excel will therefore gain in importance. (2) Real-time instead of deadline - At present, company valuations are always carried out on a case-by-case basis and on a specific key date. This will change with the digitalization and the introduction of web-based valuation tools. Company valuations can thus not only be carried out faster and more efficiently, but can also be offered more frequently. Instead of calculating the value for a previous key date, current and real-time valuations can be carried out. (3) Predictive planning instead of analysis of the past - Past data will also be needed in the future, but its use will not be limited to monovalent time series or key figure analyses. With pictures of ‘black swans’ and the ‘turkey illusion’ it was made clear to us that we build forecasts on too few data points of the past and underestimate the power of chance. Predictive planning can help here. (4) Convergence instead of residual value - Digital transformation shortens the lifespan of viable business models. If companies want to live forever, they have to change forever. For the company valuation, this means that the business model valid on the valuation date only has a limited service life. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=business%20valuation" title="business valuation">business valuation</a>, <a href="https://publications.waset.org/abstracts/search?q=corporate%20finance" title=" corporate finance"> corporate finance</a>, <a href="https://publications.waset.org/abstracts/search?q=digitisation" title=" digitisation"> digitisation</a>, <a href="https://publications.waset.org/abstracts/search?q=disruption" title=" disruption"> disruption</a> </p> <a href="https://publications.waset.org/abstracts/105970/disrupted-or-discounted-cash-flow-impact-of-digitisation-on-business-valuation" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/105970.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">133</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">19102</span> Development of an Instrument Assessing Participants’ Motivation on Assigning Monetary Value to Quality of Life </h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Afentoula%20Mavrodi">Afentoula Mavrodi</a>, <a href="https://publications.waset.org/abstracts/search?q=Andreas%20Georgiou"> Andreas Georgiou</a>, <a href="https://publications.waset.org/abstracts/search?q=Georgios%20Tsiotras"> Georgios Tsiotras</a>, <a href="https://publications.waset.org/abstracts/search?q=Vassilis%20Aletras"> Vassilis Aletras</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Placing a monetary value on a quality-adjusted-life-year (QALY) is of utmost importance in economic evaluation. Identifying the population’s preferences is critical in order to understand some of the reasons driving variations in the assigned monetary value. Yet, evidence of the motives behind value assignment to a QALY by the general public is limited. Developing an instrument that would capture the population’s motives could be proven valuable to policy-makers, to guide them in allocating different values to a QALY based on users’ motivations. The aim of this study was to identify the most relevant motives and develop an appropriate instrument to assess them. To design the instrument, we employed: a) the EQ-5D-3L tool to assess participants’ current health status, and b) the Willingness-to-Pay (WTP) approach, within the Contingent Valuation (CV) Method framework, to elicit the monetary value. Advancing the open-ended approach adopted to assess solely protest bidders’ motives; a variety of follow-up item-specific statements were designed (deductive approach), aiming to evaluate motives of both protest bidders and participants willing to pay for the hypothetical treatment under consideration. The initial design of the survey instrument was the outcome of an extensive literature review. This instrument was revised based on 15 semi-structured interviews that took place in September 2018 and a pilot study held during two months (October-November) in 2018. Individuals with different educational, occupational and economical backgrounds and adequate verbal skills were recruited to complete the semi-structured interviews. The follow-up motivation statements of both protest bidders and those willing to pay were revised and rephrased after the semi-structured interviews. In total 4 statements for protest bidders and 3 statements for those willing to pay for the treatment were chosen to be included in the survey tool. Using the CATI (Computer Assisted Telephone Interview) method, a randomly selected sample of 97 persons living in Thessaloniki, Greece, completed the questionnaire on two occasions over a period of 4 weeks. Based on pilot study results, a test-retest reliability assessment was performed using the intra-class correlation coefficient (ICC). All statements formulated for protest bidders showed acceptable reliability (ICC values of 0.84 (95% CI: 0.67, 0.92) and above). Similarly, all statements for those willing to pay for the treatment showed high reliability (ICC values of 0.86 (95% CI: 0.78, 0.91) and above). Overall, the instrument designed in this study was reliable with regards to the item-specific statements assessing participants’ motivation. Validation of the instrument will take place in a future study. For a holistic WTP per QALY instrument, participants’ motivation must be addressed broadly. The instrument developed in this study captured a variety of motives and provided insight with regards to the method through which the latter are evaluated. Last but not least, it extended motive assessment to all study participants and not only protest bidders. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=contingent%20valuation%20method" title="contingent valuation method">contingent valuation method</a>, <a href="https://publications.waset.org/abstracts/search?q=instrument" title=" instrument"> instrument</a>, <a href="https://publications.waset.org/abstracts/search?q=motives" title=" motives"> motives</a>, <a href="https://publications.waset.org/abstracts/search?q=quality-adjusted%20life-year" title=" quality-adjusted life-year"> quality-adjusted life-year</a>, <a href="https://publications.waset.org/abstracts/search?q=willingness-to-pay" title=" willingness-to-pay"> willingness-to-pay</a> </p> <a href="https://publications.waset.org/abstracts/102007/development-of-an-instrument-assessing-participants-motivation-on-assigning-monetary-value-to-quality-of-life" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/102007.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">136</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">19101</span> Integrating Artificial Neural Network and Taguchi Method on Constructing the Real Estate Appraisal Model</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Mu-Yen%20Chen">Mu-Yen Chen</a>, <a href="https://publications.waset.org/abstracts/search?q=Min-Hsuan%20Fan"> Min-Hsuan Fan</a>, <a href="https://publications.waset.org/abstracts/search?q=Chia-Chen%20Chen"> Chia-Chen Chen</a>, <a href="https://publications.waset.org/abstracts/search?q=Siang-Yu%20Jhong"> Siang-Yu Jhong</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In recent years, real estate prediction or valuation has been a topic of discussion in many developed countries. Improper hype created by investors leads to fluctuating prices of real estate, affecting many consumers to purchase their own homes. Therefore, scholars from various countries have conducted research in real estate valuation and prediction. With the back-propagation neural network that has been popular in recent years and the orthogonal array in the Taguchi method, this study aimed to find the optimal parameter combination at different levels of orthogonal array after the system presented different parameter combinations, so that the artificial neural network obtained the most accurate results. The experimental results also demonstrated that the method presented in the study had a better result than traditional machine learning. Finally, it also showed that the model proposed in this study had the optimal predictive effect, and could significantly reduce the cost of time in simulation operation. The best predictive results could be found with a fewer number of experiments more efficiently. Thus users could predict a real estate transaction price that is not far from the current actual prices. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=artificial%20neural%20network" title="artificial neural network">artificial neural network</a>, <a href="https://publications.waset.org/abstracts/search?q=Taguchi%20method" title=" Taguchi method"> Taguchi method</a>, <a href="https://publications.waset.org/abstracts/search?q=real%20estate%20valuation%20model" title=" real estate valuation model"> real estate valuation model</a>, <a href="https://publications.waset.org/abstracts/search?q=investors" title=" investors"> investors</a> </p> <a href="https://publications.waset.org/abstracts/12958/integrating-artificial-neural-network-and-taguchi-method-on-constructing-the-real-estate-appraisal-model" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/12958.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">489</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">19100</span> Performativity and Valuation Techniques: Evidence from Investment Banks in the Wake of the Global Financial Crisis </h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Alicja%20Reuben">Alicja Reuben</a>, <a href="https://publications.waset.org/abstracts/search?q=Amira%20Annabi"> Amira Annabi</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In this paper, we explore the relationship between the selection of valuation techniques by investment banks and the banks’ risk perceptions and performance in the context of the theory of performativity. We use inferential statistics to study these relationships by building a unique dataset based on the disclosure of 12 investment banks’ 2012-2015 annual financial statements. Moreover, we create two constructs, namely intensity of use and risk perception. We measure the intensity of use as a frequency metric of how often a particular bank adopts valuation techniques for a particular asset or liability. We measure risk perception based on disclosed ranges of values for unobservable inputs. Our results are twofold: we find a significant negative correlation between (1) intensity of use and investment bank performance and (2) intensity of use and risk perception. These results indicate that a performative process takes place, and the valuation techniques are enacting their environment. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=language" title="language">language</a>, <a href="https://publications.waset.org/abstracts/search?q=linguistics" title=" linguistics"> linguistics</a>, <a href="https://publications.waset.org/abstracts/search?q=performativity" title=" performativity"> performativity</a>, <a href="https://publications.waset.org/abstracts/search?q=financial%20techniques" title=" financial techniques"> financial techniques</a> </p> <a href="https://publications.waset.org/abstracts/116825/performativity-and-valuation-techniques-evidence-from-investment-banks-in-the-wake-of-the-global-financial-crisis" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/116825.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">160</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">19099</span> Pricing European Continuous-Installment Options under Regime-Switching Models</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Saghar%20Heidari">Saghar Heidari</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In this paper, we study the valuation problem of European continuous-installment options under Markov-modulated models with a partial differential equation approach. Due to the opportunity for continuing or stopping to pay installments, the valuation problem under regime-switching models can be formulated as coupled partial differential equations (CPDE) with free boundary features. To value the installment options, we express the truncated CPDE as a linear complementarity problem (LCP), then a finite element method is proposed to solve the resulted variational inequality. Under some appropriate assumptions, we establish the stability of the method and illustrate some numerical results to examine the rate of convergence and accuracy of the proposed method for the pricing problem under the regime-switching model. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=continuous-installment%20option" title="continuous-installment option">continuous-installment option</a>, <a href="https://publications.waset.org/abstracts/search?q=European%20option" title=" European option"> European option</a>, <a href="https://publications.waset.org/abstracts/search?q=regime-switching%20model" title=" regime-switching model"> regime-switching model</a>, <a href="https://publications.waset.org/abstracts/search?q=finite%20element%20method" title=" finite element method"> finite element method</a> </p> <a href="https://publications.waset.org/abstracts/130909/pricing-european-continuous-installment-options-under-regime-switching-models" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/130909.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">137</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">19098</span> Convertible Lease, Risky Debt and Financial Structure with Growth Option</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Ons%20Triki">Ons Triki</a>, <a href="https://publications.waset.org/abstracts/search?q=Fathi%20Abid"> Fathi Abid</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The basic objective of this paper is twofold. It resides in designing a model for a contingent convertible lease contract that can ensure the financial stability of a company and recover the losses of the parties to the lease in the event of default. It also aims to compare the convertible lease contract on inefficiencies resulting from the debt-overhang problem and asset substitution with other financing policies. From this perspective, this paper highlights the interaction between investments and financing policies in a dynamic model with existing assets and a growth option where the investment cost is financed by a contingent convertible lease and equity. We explore the impact of the contingent convertible lease on the capital structure. We also check the reliability and effectiveness of the use of the convertible lease contract as a means of financing. Findings show that the rental convertible contract with a sufficiently high conversion ratio has less severe inefficiencies arising from risk-shifting and debt overhang than those entailed by risky debt and pure-equity financing. The problem of underinvestment pointed out by Mauer and Ott (2000) and the problem of overinvestment mentioned by Hackbarth and Mauer (2012) may be reduced under contingent convertible lease financing. Our findings predict that the firm value under contingent convertible lease financing increases globally with asset volatility instead of decreasing with business risk. The study reveals that convertible leasing contracts can stand for a reliable solution to ensure the lessee and quickly recover the counterparties of the lease upon default. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=contingent%20convertible%20lease" title="contingent convertible lease">contingent convertible lease</a>, <a href="https://publications.waset.org/abstracts/search?q=growth%20option" title=" growth option"> growth option</a>, <a href="https://publications.waset.org/abstracts/search?q=debt%20overhang" title=" debt overhang"> debt overhang</a>, <a href="https://publications.waset.org/abstracts/search?q=risk-shifting" title=" risk-shifting"> risk-shifting</a>, <a href="https://publications.waset.org/abstracts/search?q=capital%20structure" title=" capital structure"> capital structure</a> </p> <a href="https://publications.waset.org/abstracts/161279/convertible-lease-risky-debt-and-financial-structure-with-growth-option" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/161279.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">72</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">19097</span> Factors Affecting Consumers’ Willingness to Pay for Chicken Meat from Biosecure Farms</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Veronica%20Sri%20Lestari">Veronica Sri Lestari</a>, <a href="https://publications.waset.org/abstracts/search?q=Asmuddin%20Natsir"> Asmuddin Natsir</a>, <a href="https://publications.waset.org/abstracts/search?q=Hasmida%20Karim"> Hasmida Karim</a>, <a href="https://publications.waset.org/abstracts/search?q=Ian%20Patrick"> Ian Patrick</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The research aimed at investigating the factors affecting consumers’ willingness to pay for chicken meat from biosecure farms. The research was conducted in Makassar City, South Sulawesi Province, Indonesia. Samples were taken using random sampling technique in two supermarkets namely Lotte Mart and Gelael. Total samples were 50 respondents which comprised the chicken meat consumers. To find out the consumers’ willingness to pay for chicken meat from the biosecure farms, the contingent valuation method was utilized. Data were collected through interviews and questionnaires. Probit Logistic was estimated to examine the factors affecting the consumers’ willingness to pay for at the premium price for chicken meat from the biosecure farms. The research indicates that the education and income affect significantly the consumers’ willingness to pay for chicken meat from the biosecure farms (P < 0.05). The results of the study will be beneficial for the policy makers, producers, consumers and those conducting research. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=biosecure" title="biosecure">biosecure</a>, <a href="https://publications.waset.org/abstracts/search?q=chicken" title=" chicken"> chicken</a>, <a href="https://publications.waset.org/abstracts/search?q=farms" title=" farms"> farms</a>, <a href="https://publications.waset.org/abstracts/search?q=consumer" title=" consumer"> consumer</a>, <a href="https://publications.waset.org/abstracts/search?q=willingness-to-pay" title=" willingness-to-pay"> willingness-to-pay</a> </p> <a href="https://publications.waset.org/abstracts/48035/factors-affecting-consumers-willingness-to-pay-for-chicken-meat-from-biosecure-farms" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/48035.pdf" target="_blank" class="btn btn-primary 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