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Registros recuperados: 38
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A Choice Model with Systematic Structures in Decision Weights AgEcon
Hu, Wuyang.
This article introduces a discrete choice model which incorporates a nonlinear structural adjustment to the standard utility coefficients or decision weights. The proposed model is theoretically and empirically appealing when compared to several alternative approaches, and it can be estimated by conventional maximum likelihood. Application of the proposed model in a case study shows that it outperforms two competing approaches in model fit. Given its simplicity, this model is also capable of revealing consumers' heterogeneous choices. It is shown that based on consumers' different characteristics, their product choice and its welfare implications are also potentially different.
Tipo: Journal Article Palavras-chave: Logit models; Stated choice; Structural adjustment; Weights; Demand and Price Analysis.
Ano: 2007 URL: http://purl.umn.edu/7076
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Actual Media Reports on GM Foods and Chinese Consumers' Willingness to Pay for GM Soybean Oil AgEcon
Hu, Wuyang; Zhong, Funing; Ding, Yulian.
Information has been proven to have significant impacts on consumers' behavior and willingness to pay (WTP). In this study, information on GM soybean oil is given in the form of real-life cases involving GM food. These cases recorded from actual media reports. Using a hybrid of the double-bounded and payment care elicitation approaches, Chinese consumers' WTP for soybean oil is examined both before and after these cases are presented to them. Results indicate that media reports on positive cases do not increase consumers' WTP significantly, while reports on negative cases drastically lower their WTP.
Tipo: Journal Article Palavras-chave: Chinese consumers; Double-bounded; Soybean oil; Willingness to pay; Consumer/Household Economics; Demand and Price Analysis.
Ano: 2006 URL: http://purl.umn.edu/8612
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Assessing Consumer Willingness to Pay for Value-Added Blueberry Products Using a Payment Card Survey AgEcon
Hu, Wuyang; Woods, Timothy A.; Bastin, Sandra; Cox, Linda J.; You, Wen.
This study offers insights on consumer acceptance and willingness to pay for three value-added blueberry products. A modified payment card approach was used. The analytical framework adopted allows the researcher to attach straightforward economic interpretation to the estimated impacts of willingness to pay factors. Results show consumer socio-economic characteristics are important determinants but play different roles depending on the products. Information on health benefits may also be important. However, it is found that outside information or consumer self-stated awareness of blueberries’ health benefits have different impacts. These impacts may function as substitutes rather than complements to each other.
Tipo: Journal Article Palavras-chave: Blueberry; Payment card contingent valuation; Value-added; Willingness to pay; Food Consumption/Nutrition/Food Safety; Marketing; D12; Q13.
Ano: 2011 URL: http://purl.umn.edu/104617
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AT-HOME SEAFOOD CONSUMPTION IN KENTUCKY: A DOUBLE-HURDLE MODEL APPROACH AgEcon
Wan, Wei; Hu, Wuyang.
This study investigates demographic and socioeconomic factors contributing to at-home consumption of seafood in Kentucky through a 2010 survey. The Tobit and Cragg’s double-hurdle model are analyzed and tested. Numbers of people in the household, household income, race and employment status are significant determinants of at-home seafood consumption in Kentucky.
Tipo: Presentation Palavras-chave: Food Consumption/Nutrition/Food Safety; Seafood consumption; At-home; Kentucky; Double-Hurdle Model.
Ano: 2012 URL: http://purl.umn.edu/119807
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Bargains or Rip-offs? Reference Price Effects in Conjoint Stated Demand AgEcon
Hu, Wuyang.
This study incorporates reference point effects into a stated choice survey of consumer demand for food with credence attributes. Parametric tests can be applied to the utility function to examine the existence of reference price effects. Results are consistent with prospect theory in that consumers exhibit strong and nonlinear reference price effects, with cheaper prices receiving less decision weight than higher prices. The underlying utility function is concave over lowered prices and convex over increased prices, with diminishing sensitivity in both domains. The study, however, did not find experience or consumers' attitudes to be significant in explaining reference price effects.
Tipo: Journal Article Palavras-chave: Canola oil; Conjoint; Prospect theory; Reference price effects; Demand and Price Analysis.
Ano: 2007 URL: http://purl.umn.edu/8639
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Bayesian Analysis of Consumer Choices with Taste, Context, Reference Point and Individual Scale Effects AgEcon
Hu, Wuyang; Adamowicz, Wiktor L.; Veeman, Michele M..
This paper adopts an approach based on the concepts of random utility maximization and builds on the general theoretical framework of Lancaster and on the conceptual and econometric innovations of McFadden. Recent research in this area explores models that account for context effects, as well as methods for characterizing heterogeneity, response variability and decision strategy selection by consumers. This makes it possible to construct much richer empirical models of individual consumer behavior. A Bayesian approach provides a useful way to estimate and interpret models that are difficult to accomplish by conventional maximization/minimization algorithms. The application reported in the paper involves analysis of reference dependence and product...
Tipo: Conference Paper or Presentation Palavras-chave: Consumer/Household Economics.
Ano: 2005 URL: http://purl.umn.edu/19296
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Beach Quality and Recreational Values: A Pictorialized Stated Preference Analysis of Residents and Tourists AgEcon
Penn, Jerrod; Hu, Wuyang; Cox, Linda J.; Kozloff, Lara.
Much of Hawaii’s economy relies on its unique marine environments, which are threatened by degradation from stormwater runoff. Using a stated preference method of choice-based conjoint (CBC) analysis, based on stylized photographs, this study examines both residents’ and visitors’ marginal value for levels of attributes associated with Hawaiian beach recreation. Each attribute (sand quality, water quality, congestion and water safety conditions) was significant for both residents and tourists, with water quality being the single most important attribute. There is little distinction between resident and tourist marginal value, except for a greater value lost for below average water quality among tourists.
Tipo: Presentation Palavras-chave: Nonmarket Valuation; WTP; Beach; Environmental Economics and Policy; Resource /Energy Economics and Policy.
Ano: 2012 URL: http://purl.umn.edu/119813
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Consumer Acceptance and Willingness to Pay for Blueberry Products with Nonconventional Attributes AgEcon
Hu, Wuyang; Woods, Timothy A.; Bastin, Sandra.
Consumer acceptance and willingness to pay for three nonconventional attributes associated with six processed blueberry products was examined through an in-store conjoint experiment survey. Both credence and experience attributes were considered, including whether the products were produced locally, and whether they were organic or sugar-free. The results indicate heterogeneity in consumer preference and willingness to pay for different attributes across product categories. Local products and organic formulations generally received positive willingness to pay across all products. This information has implications for blueberry growers and retailers who are trying to create and position value-added products for maximum revenue.
Tipo: Journal Article Palavras-chave: Blueberries; Conjoint experiment; Kentucky; Willingness to pay; Agribusiness; Demand and Price Analysis; Food Consumption/Nutrition/Food Safety; D12; Q13.
Ano: 2009 URL: http://purl.umn.edu/48753
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Consumer Demand for Ahi Poke (Raw Tuna Salad) in Hawaii AgEcon
Fernandes da Costa, Pedro M.; Hu, Wuyang; Pan, Minling.
Ahi poke (raw tuna salad) has significant role in Hawaii culture and economy. A consumer survey in Hawaii was used to examine consumers’ purchasing intentions of ahi poke. A censored analysis was conducted to analyze the demand and tie with various consumer characteristics. Results show that many consumer eat ahi poke frequently and different consumer profiles will lead to large differences in their demand. Information obtained in study may help producers and retailers to better target their marketing strategies and increase sales.
Tipo: Conference Paper or Presentation Palavras-chave: Ahi Poke; Demand; Hawaii; Tobit; Agribusiness; Agricultural and Food Policy; Consumer/Household Economics; Demand and Price Analysis; Marketing; Q13; D12.
Ano: 2009 URL: http://purl.umn.edu/56346
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Consumer Willingness to Pay for Fair Trade Coffee: A Chinese Case Study AgEcon
Yang, Shang-Ho; Hu, Wuyang; Mupandawana, Malvern; Liu, Yun.
Coffee consumption in China has seen a significant rise in recent years. This study seeks to explore the determinants of coffee consumption in China with a specific focus on fair trade coffee. In a survey of 564 respondents in Wuhan City, consumers’ willingness to pay (WTP)for fair trade labeled coffee was measured. This study uses an interval regression to investigate individual demographic and consumption characteristic impacts on WTP. Results show that on average, consumers were willing to pay 22% more for a medium cup of fair trade coffee compared with traditional coffee. In addition, other variables that indicated a higher WTP included female consumers, consumers who made their own coffee, and consumers who planned to consume more coffee in the...
Tipo: Article Palavras-chave: China; Fair trade coffee; Interval regression; Willingness to pay; Food Consumption/Nutrition/Food Safety; International Relations/Trade; D12; Q13.
Ano: 2012 URL: http://purl.umn.edu/120449
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Consumer Willingness to Pay for Value-Added Blueberry Products: A Payment Card Approach AgEcon
Hu, Wuyang; Woods, Timothy A.; Bastin, Sandra.
Tipo: Conference Paper or Presentation Palavras-chave: Horticultural products; Consumer; Marketing; Value-added; Agribusiness; Consumer/Household Economics; Food Consumption/Nutrition/Food Safety; Health Economics and Policy; Marketing.
Ano: 2011 URL: http://purl.umn.edu/103444
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Consumers' Preferences for GM Food and Voluntary Information Acquisition: A Simultaneous Choice Analysis AgEcon
Veeman, Michele M.; Hu, Wuyang; Adamowicz, Wiktor L..
Previous research studies directed at the influence of information on consumers' preferences and choices of food in the context of genetically modified (GM) food assume that information is exogenous, in that this is provided to consumers from external sources. Information made available to consumers is also typically treated as being received and processed. Other literature and observation suggests that these two features tend not to apply in practice. Using data from a choice experiment on consumers' choices for genetically modified food in which respondents were able to voluntarily access information, this study allows information to be endogenous; consumers' product choices and information access decisions are examined within a simultaneous choice...
Tipo: Conference Paper or Presentation Palavras-chave: Genetically modified food; Information search; Multinomial logit models; Simultaneous modeling.; Food Consumption/Nutrition/Food Safety; Research and Development/Tech Change/Emerging Technologies; Q13; Q18; C8.
Ano: 2006 URL: http://purl.umn.edu/25786
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Consumers’ Purchasing Intentions for Vegetable Oil in the Presence of Generic or Specific Information on Genetic Modification AgEcon
Hu, Wuyang; Chen, Kevin Z..
In combination with the emergence of genetically modified (GM) food, there has been an urgent call for GM labeling to provide relevant information disclosure. Using data collected in Beijing, China, this study attempts to address the issue of whether different types of information may have distinct impacts on consumers’ stated purchasing decisions. Three types of information are used in this study: one is generic and the other two are linked with two important implications of GM technology—human health and the environment. Results verify that consumers’ purchasing decisions are affected by different types of information through their attitudes and personal characteristics. This finding has potential implications for establishing various GM marketing...
Tipo: Journal Article Palavras-chave: China; Genetically modified (GM) food; Labeling information; Probit model; Vegetable oil; Agribusiness; Food Consumption/Nutrition/Food Safety.
Ano: 2008 URL: http://purl.umn.edu/90639
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Consumers’ Stated Choices versus Purchasing Desires: Case of Hawaii Food Baskets AgEcon
Hu, Wuyang; Cox, Linda J..
This article uses a case study involving Hawaii food baskets to show that although a choice based conjoint experiment can elicit respondents’ most preferred alternative, this “preferred” option may not be one that respondents are willing to purchase. Thus, a choice based experiment that involves hypothetical product selection may predict different behavior, depending on the type of questions asked in the survey. This study shows that follow-up questions in a conjoint survey may serve an important role in improving model fit and the comprehensiveness of behavioral prediction.
Tipo: Journal Article Palavras-chave: Gift baskets in China; Preferred choice; Willing to purchase; Hypothetical selection; Agricultural and Food Policy; Consumer/Household Economics; Q13; D12.
Ano: 2009 URL: http://purl.umn.edu/56632
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DECOMPOSING UNOBSERVED CHOICE VARIABILITY IN THE PRESENCE OF CONSUMERS' TASTE HETEROGENEITY AgEcon
Hu, Wuyang; Adamowicz, Wiktor L.; Veeman, Michele M..
Heterogeneous tastes across consumers can be captured by random coefficients in a mixed logit (ML) model. However, other types of factors that may not directly affect taste could cause choices to vary, such as choice context, choice task complexity, and demographic characters. This paper jointly considers taste heterogeneity around reference-dependent attributes and other choice variability through inclusion of a scale function, based on data from a stated preference experiment for bread. Results demonstrate that modeling other sources of choice variability in addition to taste heterogeneity increases the model fit, although the improvement is not dramatic.
Tipo: Conference Paper or Presentation Palavras-chave: Institutional and Behavioral Economics.
Ano: 2004 URL: http://purl.umn.edu/19954
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Do Local Production, Organic Certification, Nutritional Claims, and Product Branding Pay in Consumer Food Choices? AgEcon
Batte, Marvin T.; Hu, Wuyang; Woods, Timothy A.; Stan, Ernst.
This research furthers the assessment of consumer demand for locally produced foods, while also considering a host of other food attributes that may interact to influence consumer utility. Using stated preference data from a choice-based conjoint analysis survey instrument, we estimate willingness-to-pay for processed food products (blackberry jam) that are differentiated with respect to their branding, the location of their production, certification as organically produced, branding as a product of a small family farming association, and carrying a State Proud certification. Although price is the most important single attribute influencing consumer choice for our sample, consumers also were willing to pay more for food products produced in their state or...
Tipo: Conference Paper or Presentation Palavras-chave: Conjoint analysis; Choice experiment; Locally produced food; Organic foods; Product differentiation; Produce marketing; State Proud programs; Willingness-to-pay; Agribusiness; Agricultural and Food Policy; Consumer/Household Economics; Food Consumption/Nutrition/Food Safety; Marketing; Q11; Q13.
Ano: 2010 URL: http://purl.umn.edu/61026
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Dollars or Cents: Impacts of Rescaling Data on a Mixed Logit Model with Normally and Lognormally Distributed Coefficients AgEcon
Hu, Wuyang.
It is a common practice to rescale data to assist the model estimation process. This paper describes a case where care is called upon when interpreting the results after rescaling. The case is shown as associated with the lognormally distributed coefficient in a mixed logit model. Implications of rescaling data on a normally distributed coefficient are also given for comparison.
Tipo: Working or Discussion Paper Palavras-chave: Research Methods/ Statistical Methods.
Ano: 2004 URL: http://purl.umn.edu/24108
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Effects of Endogenous Task Complexity and the Endowed Bundle on Stated Choice AgEcon
Hu, Wuyang.
Conventionally, studies examining the impacts of choice complexity only consider complexity introduced exogenously from the tasks respondents face. In the context of a stated conjoint survey, this article establishes endogenous complexity measures through decision-makers’' experience known as the endowed bundle before the survey. Results show that complexity should not only be defined exogenously. Endogenous complexity measures are important in determining the utility associated with an alternative and the decision of whether to participate in the market. In addition, some of these complexity effects are nonlinear. We also show that exogenous complexity simultaneous affects the choice consistency.
Tipo: Conference Paper or Presentation Palavras-chave: Complexity; Endowed Bundle; Random Utility; Stated Choice; Research Methods/ Statistical Methods; C81; D12.
Ano: 2006 URL: http://purl.umn.edu/21437
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Exploring Heterogeneity in Consumers’ Meat Store Choices in an Emerging Market AgEcon
Hu, Wuyang.
Chinese consumers’ choices among meat stores are examined through a model that can capture consumer heterogeneities both in their opinion of various store attributes and in how much weight they attach to each attribute. This approach not only informs store managers as to what attributes should receive focus for improving their store images, but also provides insight about which specific attribute could be improved to achieve the most effective result. Based on the individual-level parameters obtained through an empirical Bayes analysis, managers or competitors are able to strategically target their store promotions to specific individual consumers based on their demographic characteristics.
Tipo: Journal Article Palavras-chave: Heterogeneity; Individual-level parameters; Logit models; Meat store; Livestock Production/Industries; Research and Development/Tech Change/Emerging Technologies.
Ano: 2006 URL: http://purl.umn.edu/62275
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Health Risk of Heating Fuel Choice: A Simultaneity Causality Analysis AgEcon
Liu, Zheng; Pagoulatos, Angelos; Hu, Wuyang.
Combustion-generated pollutants, principally those from solid-fuels including biomass and coal when cooking and heating, bring out a significant public health hazard in both developed and developing countries. Most of the existing studies addressing this issue focus on developing countries, and on exposure when cooking rather than heating. By using Kentucky rural data, this research explores the health risk associated with heating fuel choice. Given the simultaneity between heating fuel choice and prevalence of asthma and allergy, we obtain the instrumental variable (IV) estimate for Logit models through the Generalized Method of Moments (GMM). After correcting for simultaneity bias, we do not find strong evidence supporting the causal relationship between...
Tipo: Conference Paper or Presentation Palavras-chave: Combustion-generated pollutants; Indoor air pollution; Heating fuel choice; Health risk; GMM-IV Estimation; Environmental Economics and Policy; Health Economics and Policy; Q53; I18.
Ano: 2010 URL: http://purl.umn.edu/56532
Registros recuperados: 38
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