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A contingent valuation approach to estimating the recreational value of commercial whale watching - the case study of Faxafloi Bay, Iceland.

ABSTRACT: There is currently limited knowledge concerning the economic value of commercial whale watching from the perspective of the consumer's trip experience. This study outlines the results of an in-person contingent valuation survey, which asked whale watching tourists in Faxaflói Bay, Iceland, how much they would have been willing to pay beyond the paid ticket price. Based on a sample of 163 tourists, only 30 (18.40%) reported any consumer surplus, despite the majority stating positive satisfaction with the experience. Mean consumer surplus was 768 ISK (approximately 5.60 euros). Scaled up to the number of whale watching tourists in Faxaflói Bay in 2018 of 148,442, aggregate CS was approximately 114.0 million ISK (0.83 million euros), a 6.9% mark-up on estimated annual revenue generation derived from average ticket prices. The study provides new information on the economic value of whale watching in an area which had already been part-designated as a whale sanctuary.

SUBMITTER: Cook D

PROVIDER: S-EPMC7538099 | biostudies-literature | 2020 Oct

REPOSITORIES: biostudies-literature

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A contingent valuation approach to estimating the recreational value of commercial whale watching - the case study of Faxaflói Bay, Iceland.

Cook David D Malinauskaite Laura L Davíðsdóttir Brynhildur B Ögmundardóttir Helga H

Tourism management perspectives 20201006

There is currently limited knowledge concerning the economic value of commercial whale watching from the perspective of the consumer's trip experience. This study outlines the results of an in-person contingent valuation survey, which asked whale watching tourists in Faxaflói Bay, Iceland, how much they would have been willing to pay beyond the paid ticket price. Based on a sample of 163 tourists, only 30 (18.40%) reported any consumer surplus, despite the majority stating positive satisfaction ...[more]

PMID: 33042773

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Project description:BackgroundA greater emphasis on providing high-value orthopaedic interventions has resulted in increased health economic reporting. The contingent-valuation method (CVM) is used to determine consumer valuation of the benefits provided by healthcare interventions. CVM is an important value-based health economic tool that is underutilized in orthopaedic surgery.Questions/purposesThe purpose of this study was to (1) identify previously published CVM studies in the orthopaedic literature, (2) assess the methodologies used for CVM research, and (3) understand how CVM has been used in the orthopaedic cost-benefit analysis framework.MethodsA systematic review of the literature using the MEDLINE database was performed to compile CVM studies. Search terms incorporated the phrase willingness to pay (WTP) or willingness to accept (WTA) in combination with orthopaedic clinical key terms. Study methodology was appraised using previously defined empirical and conceptual criteria for CVM studies.ResultsOf the 160 studies retrieved, 22 (13.8%) met our inclusion criteria. The economics of joint arthroplasty (n?=?6, 27.3%) and non-operative osteoarthritis care (n?=?4, 18.2%) were the most common topics. Most studies used CVM for pricing and/or demand forecasting (n?=?16, 72.7%); very few studies used CVM for program evaluation (n?=?6). WTP was used in all included studies, and one study used both WTP and WTA. Otherwise, there was little consistency among included studies in terms of CVM methodology. Open-ended questioning was used by only ten studies (45.5%), a significant number of studies did not perform a sensitivity analysis (n?=?9, 40.9%), and none of the studies accounted for the risk preference of subjects. Only two of the included studies applied CVM within a cost-benefit analysis framework.ConclusionCVM is not commonly reported in orthopaedic surgery and is seldom used in the context of cost-benefit analysis. There is wide variability in the methods used to perform CVM. We propose that CVM is an appropriate and underappreciated method for understanding the value of orthopaedic interventions. Increased attention should be paid to consumer valuations for orthopaedic interventions.

Project description:ObjectivesMonetizing health has sparked controversy and has implications for pricing strategies of emerging health technologies. Medical insurance payers typically set up thresholds for quality-adjusted life years (QALY) gains based on health productivity and budget affordability, but they rarely consider patient willingness-to-pay (WTP). Our study aims to compare Chinese payer threshold and patient WTP toward QALY gain of advanced non-small cell lung cancer (NSCLC) and to inform a potential inclusion of patient WTP under more complex decision-making scenarios.MethodsA regression model was constructed with cost as the independent variable and QALY as the dependent variable, where the regression coefficients reflect mean opportunity cost, and by transforming these coefficients, the payer threshold can be obtained. Patient WTP was elicited through a contingent valuation method survey. The robustness of the findings was examined through sensitivity analyses of model parameters and patient heterogeneity.ResultsThe payer mean threshold in the base-case was estimated at 150,962 yuan (1.86 times per capita GDP, 95% CI 144,041-159,204). The two scenarios analysis generated by different utility inputs yielded thresholds of 112,324 yuan (1.39 times per capita GDP) and 111,824 yuan (1.38 times per capita GDP), respectively. The survey included 85 patients, with a mean WTP of 148,443 yuan (1.83 times per capita GDP, 95% CI 120,994-175,893) and median value was 106,667 yuan (1.32 times the GDP per capita). Due to the substantial degree of dispersion, the median was more representative. The payer threshold was found to have a high probability (98.5%) of falling within the range of 1-2 times per capita GDP, while the robustness of patient WTP was relatively weak.ConclusionsIn China, a country with a copayment system, payer threshold was higher than patient WTP, indicating that medical insurance holds significant decision-making authority, thus temporarily negating the need to consider patient WTP.

Project description:Vibrio vulnificus and V. parahaemolyticus in the estuarine-marine environment are of human health significance and may be increasing in pathogenicity and abundance. Vibrio illness originating from dermal contact with Vibrio laden waters or through ingestion of seafood originating from such waters can cause deleterious health effects, particularly if the strains involved are resistant to clinically important antibiotics. The purpose of this study was to evaluate antimicrobial susceptibility among these pathogens. Surface-water samples were collected from three sites of recreational and commercial importance from July to September 2009. Samples were plated onto species-specific media and resulting V. vulnificus and V. parahaemolyticus strains were confirmed using polymerase chain reaction assays and tested for antimicrobial susceptibility using the Sensititre® microbroth dilution system. Descriptive statistics, Friedman two-way Analysis of Variance (ANOVA) and Kruskal-Wallis one-way ANOVA were used to analyze the data. Vibrio vulnificus (n = 120) and V. parahaemolyticus (n = 77) were isolated from all sampling sites. Most isolates were susceptible to antibiotics recommended for treating Vibrio infections, although the majority of isolates expressed intermediate resistance to chloramphenicol (78% of V. vulnificus, 96% of V. parahaemolyticus). Vibrio parahaemolyticus also demonstrated resistance to penicillin (68%). Sampling location or month did not significantly impact V. parahaemolyticus resistance patterns, but V. vulnificus isolates from St. Martin's River had lower overall intermediate resistance than that of the other two sampling sites during the month of July (p = 0.0166). Antibiotics recommended to treat adult Vibrio infections were effective in suppressing bacterial growth, while some antibiotics recommended for pediatric treatment were not effective against some of the recovered isolates. To our knowledge, these are the first antimicrobial susceptibility data of V. vulnificus and V. parahaemolyticus recovered from the Chesapeake Bay. These data can serve as a baseline against which future studies can be compared to evaluate whether susceptibilities change over time.

Dataset Information

A contingent valuation approach to estimating the recreational value of commercial whale watching - the case study of Faxafloi Bay, Iceland.

Publications

A contingent valuation approach to estimating the recreational value of commercial whale watching - the case study of Faxaflói Bay, Iceland.

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