Simulation-Based Valuation of Transactive Energy Systems

DOE PAGES

Huang, Qiuhua; McDermott, Tom; Tang, Yingying; ...

2018-05-18

Transactive Energy (TE) has been recognized as a promising technique for integrating responsive loads and distributed energy resources as well as advancing grid modernization. To help the industry better understand the value of TE and compare different TE schemes in a systematic and transparent manner, a comprehensive simulation-based TE valuation method is developed. The method has the following salient features: 1) it formally defines the valuation scenarios, use cases, baseline and valuation metrics; 2) an open-source simulation platform for transactive energy systems has been developed by integrating transmission, distribution and building simulators, and plugin TE and non-TE agents through themore » Framework for Network Co-Simulation (FNCS); 3) transparency and flexibility of the valuation is enhanced through separation of simulation and valuation, base valuation metrics and final valuation metrics. In conclusion, a valuation example based on the Smart Grid Interoperability Panel (SGIP) Use Case 1 is provided to demonstrate the developed TE simulation program and the valuation method.« less

Simulation-Based Valuation of Transactive Energy Systems

DOE Office of Scientific and Technical Information (OSTI.GOV)

Huang, Qiuhua; McDermott, Tom; Tang, Yingying

Transactive Energy (TE) has been recognized as a promising technique for integrating responsive loads and distributed energy resources as well as advancing grid modernization. To help the industry better understand the value of TE and compare different TE schemes in a systematic and transparent manner, a comprehensive simulation-based TE valuation method is developed. The method has the following salient features: 1) it formally defines the valuation scenarios, use cases, baseline and valuation metrics; 2) an open-source simulation platform for transactive energy systems has been developed by integrating transmission, distribution and building simulators, and plugin TE and non-TE agents through themore » Framework for Network Co-Simulation (FNCS); 3) transparency and flexibility of the valuation is enhanced through separation of simulation and valuation, base valuation metrics and final valuation metrics. In conclusion, a valuation example based on the Smart Grid Interoperability Panel (SGIP) Use Case 1 is provided to demonstrate the developed TE simulation program and the valuation method.« less

Valuation of Electric Power System Services and Technologies

DOE Office of Scientific and Technical Information (OSTI.GOV)

Kintner-Meyer, Michael C. W.; Homer, Juliet S.; Balducci, Patrick J.

Accurate valuation of existing and new technologies and grid services has been recognized to be important to stimulate investment in grid modernization. Clear, transparent, and accepted methods for estimating the total value (i.e., total benefits minus cost) of grid technologies and services are necessary for decision makers to make informed decisions. This applies to home owners interested in distributed energy technologies, as well as to service providers offering new demand response services, and utility executives evaluating best investment strategies to meet their service obligation. However, current valuation methods lack consistency, methodological rigor, and often the capabilities to identify and quantifymore » multiple benefits of grid assets or new and innovative services. Distributed grid assets often have multiple benefits that are difficult to quantify because of the locational context in which they operate. The value is temporally, operationally, and spatially specific. It varies widely by distribution systems, transmission network topology, and the composition of the generation mix. The Electric Power Research Institute (EPRI) recently established a benefit-cost framework that proposes a process for estimating multiple benefits of distributed energy resources (DERs) and the associated cost. This document proposes an extension of this endeavor that offers a generalizable framework for valuation that quantifies the broad set of values for a wide range of technologies (including energy efficiency options, distributed resources, transmission, and generation) as well as policy options that affect all aspects of the entire generation and delivery system of the electricity infrastructure. The extension includes a comprehensive valuation framework of monetizable and non-monetizable benefits of new technologies and services beyond the traditional reliability objectives. The benefits are characterized into the following categories: sustainability

Economic valuation of ecosystem services: discussion and application.

PubMed

Lazo, Jeffrey K

2002-11-01

Ecosystems provide a wide range of services that improve human welfare. Changes in ecosystems imply potential changes in the generation of these ecosystem services and thus changes in welfare. In the lingo of economists, these welfare changes are measured as changes in economic values--increases in welfare being benefits and decreases in welfare being costs. For instance, individuals may benefit from, and thus value, reductions in risks to endangered species. Yet values for many changes in ecosystem services are not captured in market transactions, and thus measuring these values requires nonmarket valuation methods. This paper discusses ecosystem services and values from the viewpoint of an economist, explains what is meant by the valuation of ecosystems, and provides an overview of methods for valuation of ecosystem services. An example is presented from a recent natural resource damage assessment--the Green Bay total value equivalency study. Resources in the Lower Fox River and Green Bay in Wisconsin have been injured by polychlorinated biphenyl contamination from numerous paper mills along the river over several decades. The Green Bay study examines individuals' preferences and values for reducing ecosystem risks and improving ecosystem services and how these values are related to individuals' awareness of and use of ecosystem services in the area. The study uses methods from nonmarket valuation to scale potential restoration projects.

46 CFR 309.3 - Stated valuation.

Code of Federal Regulations, 2011 CFR

2011-10-01

... 46 Shipping 8 2011-10-01 2011-10-01 false Stated valuation. 309.3 Section 309.3 Shipping MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION EMERGENCY OPERATIONS VALUES FOR WAR RISK INSURANCE § 309.3 Stated valuation. A stated valuation represents just compensation for the vessel to which it applies computed by...

46 CFR 309.3 - Stated valuation.

Code of Federal Regulations, 2012 CFR

2012-10-01

... 46 Shipping 8 2012-10-01 2012-10-01 false Stated valuation. 309.3 Section 309.3 Shipping MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION EMERGENCY OPERATIONS VALUES FOR WAR RISK INSURANCE § 309.3 Stated valuation. A stated valuation represents just compensation for the vessel to which it applies computed by...

46 CFR 309.3 - Stated valuation.

Code of Federal Regulations, 2010 CFR

2010-10-01

... 46 Shipping 8 2010-10-01 2010-10-01 false Stated valuation. 309.3 Section 309.3 Shipping MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION EMERGENCY OPERATIONS VALUES FOR WAR RISK INSURANCE § 309.3 Stated valuation. A stated valuation represents just compensation for the vessel to which it applies computed by...

46 CFR 309.3 - Stated valuation.

Code of Federal Regulations, 2014 CFR

2014-10-01

... 46 Shipping 8 2014-10-01 2014-10-01 false Stated valuation. 309.3 Section 309.3 Shipping MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION EMERGENCY OPERATIONS VALUES FOR WAR RISK INSURANCE § 309.3 Stated valuation. A stated valuation represents just compensation for the vessel to which it applies computed by...

46 CFR 309.3 - Stated valuation.

Code of Federal Regulations, 2013 CFR

2013-10-01

... 46 Shipping 8 2013-10-01 2013-10-01 false Stated valuation. 309.3 Section 309.3 Shipping MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION EMERGENCY OPERATIONS VALUES FOR WAR RISK INSURANCE § 309.3 Stated valuation. A stated valuation represents just compensation for the vessel to which it applies computed by...

26 CFR 20.2032-1 - Alternate valuation.

Code of Federal Regulations, 2010 CFR

2010-04-01

... alternate valuation method under section 2032, the property included in the decedent's gross estate on the..., the alternate valuation method applies to all property included in the gross estate and cannot be... elects the alternate valuation method under section 2432, all property interests existing at the date of...

Reasons to value the health care intangible asset valuation.

PubMed

Reilly, Robert F

2012-01-01

There are numerous individual reasons to conduct a health care intangible asset valuation. This discussion summarized many of these reasons and considered the common categories of these individual reasons. Understanding the reason for the intangible asset analysis is an important prerequisite to conducting the valuation, both for the analyst and the health care owner/operator. This is because an intangible asset valuation may not be the type of analysis that the owner/operator really needs. Rather, the owner/operator may really need an economic damages measurement, a license royalty rate analysis, an intercompany transfer price study, a commercialization potential evaluation, or some other type of intangible asset analysis. In addition, a clear definition of the reason for the valuation will allow the analyst to understand if (1) any specific analytical guidelines, procedures, or regulations apply and (2) any specific reporting requirement applies. For example, intangible asset valuations prepared for fair value accounting purposes should meet specific ASC 820 fair value accounting guidance. Intangible asset valuations performed for intercompany transfer price tax purposes should comply with the guidance provided in the Section 482 regulations. Likewise, intangible asset valuations prepared for Section 170 charitable contribution purposes should comply with specific reporting requirements. The individual reasons for the health care intangible asset valuation may influence the standard of value applied, the valuation date selected, the valuation approaches and methods applied, the form and format of valuation report prepared, and even the type of professional employed to perform the valuation.

Insensitivity to scope in contingent valuation studies: reason for dismissal of valuations?

PubMed

Søgaard, Rikke; Lindholt, Jes; Gyrd-Hansen, Dorte

2012-11-01

The credibility of contingent valuation studies has been questioned because of the potential occurrence of scope insensitivity, i.e. that respondents do not react to higher quantities or qualities of a good. The aim of this study was to examine the extent of scope insensitivity and to assess the relevance of potential explanations that may help to shed light on how to appropriately handle this problem in contingent valuation studies. We surveyed a sample of 2004 men invited for cardiovascular disease screening. Each respondent had three contingent valuation tasks from which their sensitivity to larger risk reductions (test 1) and to change in travel costs associated with participation (test 2) could be assessed. Participants were surveyed while waiting for their screening session. Non-participants were surveyed by postal questionnaire. The sample was overall found to be sensitive to scope, testing at the conventional sample-mean level. At the individual respondent level, however, more than half of the respondents failed the tests. Potential determinants for failing the tests were examined in alternative regression models but few consistent relationships were identified. One exception was the influence of more detailed information, which was positively associated with willingness to pay and negatively associated with scope sensitivity. Possible explanations for scope insensitivity are discussed; if cognitive limitations, emotional load and mental budgeting explain scope insensitivity there are grounds for rejecting valuations, whereas other factors such as the alternative theoretical framework of regret theory may render insensitivity to scope a result of rational thinking. It is concluded that future contingent valuation studies should focus more on extracting the underlying motives for the stated preferences in order to appropriately deal with responses that are seemingly irrational, and which may lead to imprecise welfare estimates.

Addressing Risk in the Valuation of Energy Systems

DOE Office of Scientific and Technical Information (OSTI.GOV)

Veeramany, Arun; Hammerstrom, Donald J.; Woodward, James T.

2017-06-26

Valuation is a mechanism by which potential worth of a transaction between two or more parties can be evaluated. Examples include valuation of transactive energy systems such as electric power system and building energy systems. Uncertainties can manifest while exercising a valuation methodology in the form of lack of knowledge or be inherently embedded in the valuation process. Uncertainty could also exist in the temporal dimension while planning for long-term growth. This paper discusses risk considerations associated with valuation studies in support of decision-making in the presence of such uncertainties. It is often important to have foresight of uncertain entitiesmore » that can impact real-world deployments, such as the comparison or ranking of two valuation studies to determine cost-benefit impacts to multiple stakeholders. The research proposes to address this challenge through simulation and sensitivity analyses to support ‘what-if’ analysis of well-defined future scenarios. This paper describes foundational value of diagrammatic representation techniques such as unified modeling language to understand the implications of not addressing some of the risk elements encountered during the valuation process. The paper includes examples from generation resource adequacy assessment studies (e.g. loss of load) to illustrate the principles of risk in valuation.« less

26 CFR 20.2031-9 - Valuation of other property.

Code of Federal Regulations, 2010 CFR

2010-04-01

... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Valuation of other property. 20.2031-9 Section... Valuation of other property. The valuation of any property not specifically described in §§ 20.2031-2 to 20... future interest in property not subject to valuation in accordance with the actuarial principles set...

10 myths of healthcare business valuation.

PubMed

Robeson, J David; Kaplan, Karin Chernoff

2008-10-01

*Acceptance of common myths regarding business valuations can undermine a hospital's efforts to successfully negotiate deals with physicians. *Hospitals need to clearly understand the nature of fair market value (FMV), the use of multiples, the "guideline company technique," whether the FMV can be based on acute care revenue stream, the physician compensation model used in the valuation, and the applicability of the physician's historical production level. *Other matters that warrant careful consideration include whether to tax effect, whether to pay for goodwill, and whether obsolescence can be accounted for in the valuation.

Comparing EQ-5D valuation studies: a systematic review and methodological reporting checklist.

PubMed

Xie, Feng; Gaebel, Kathryn; Perampaladas, Kuhan; Doble, Brett; Pullenayegum, Eleanor

2014-01-01

There has been a growing interest around the world in developing country-specific scoring algorithms for the EQ-5D. This study systematically reviews all existing EQ-5D valuation studies to highlight their strengths and limitations, explores heterogeneity in observed utilities using meta-regression, and proposes a methodological checklist for reporting EQ-5D valuation studies. . We searched Medline, EMBASE, the National Health Service Economic Evaluation Database (NHS EED) via Wiley's Cochrane Library, and Wiley's Health Economic Evaluation Database from inception through November 2012, as well as bibliographies of key papers and the EuroQol Plenary Meeting Proceedings from 1991 to 2012 for English-language reports of EQ-5D valuation studies. Two reviewers independently screened the titles and abstracts for relevance. Three reviewers performed data extraction and compared the characteristics and scoring algorithms developed in the included valuation studies. . Of the 31 studies included in the review, 19 used the time trade-off (TTO) technique, 10 used the visual analogue scale (VAS) technique, and 2 used both TTO and VAS. Most studies included respondents from the general population selected by random or quota sampling and used face-to-face interviews or postal surveys. Studies valued between 7 and 198 total states, with 1-23 states valued per respondent. Different model specifications have been proposed for scoring. Some sample or demographic factors, including gender, education, percentage urban population, and national health care expenditure, were associated with differences in observed utilities for moderate or severe health states. . EQ-5D valuation studies conducted to date have varied widely in their design and in the resulting scoring algorithms. Therefore, we propose the Checklist for Reporting Valuation Studies of the EQ-5D (CREATE) for those conducting valuation studies.

Stated Preference Methods for Valuation of Forest Attributes

Treesearch

Thomas P. Holmes; Kevin J. Boyle

2003-01-01

The valuation methods described in this chapter are based on the idea that forest ecosystems produce a wide variety of goods and services that are valued by people. Rather than focusing attention on the holistic value of forest ecosystems as is done in contingent valuation studies, attribute-based valuation methods (ABMs) focus attention on a set of attributes that...

Valuation of rangeland ecosystem services

USGS Publications Warehouse

Gascoigne, W.R.

2011-01-01

Economic valuation lends itself well to the anthropocentric orientation of ecosystem services. An economic perspective on ecosystems portrays them as natural assets providing a flow of goods and services valuable to individuals and society collectively. A few examples include the purification of drinking water, reduced risk from flooding and other extreme events, pollination of agricultural crops, climate regulation, and recreation opportunities from plant and animal habitat maintenance, among many others. Once these goods and services are identified and quantified, they can be monetized to complete the valuation process. The monetization of ecosystem goods and services (in the form of dollars) provides a common metric that allows for cross-comparison of attributes and evaluation of differing ecological scenarios. Complicating the monetization process is the fact that most of these goods and services are public and non-market in nature; meaning they are non-rival and non-exclusive and are typically not sold in a traditional market setting where monetary values are revealed. Instead, one must employ non-market valuation techniques, with primary valuation methods typically being very time and resource consuming, intimidating to non-economists, and often impractical. For these reasons, benefit transfer methods have gained popularity. This methodology harnesses the primary collection results of existing studies to make inferences about the economic values of non-market goods and services at an alternative policy site (in place and/or in time). For instance, if a primary valuation study on oak reestablishment on rangelands in southern California yielded a value of $30 per-acre associated with water regulation, this result can be transferred, with some adjustments, to say something about the value of an acre of oaks on rangelands in northern portions of the state. The economic valuation of rangeland ecosystem services has many roles. Economic values may be used as input

18 CFR 4.10 - Valuation data.

Code of Federal Regulations, 2011 CFR

2011-04-01

... 18 Conservation of Power and Water Resources 1 2011-04-01 2011-04-01 false Valuation data. 4.10 Section 4.10 Conservation of Power and Water Resources FEDERAL ENERGY REGULATORY COMMISSION, DEPARTMENT OF... Valuation data. (a) Notification of Commission. In every case arising under section 23(a) of the Federal...

18 CFR 4.10 - Valuation data.

Code of Federal Regulations, 2010 CFR

2010-04-01

... 18 Conservation of Power and Water Resources 1 2010-04-01 2010-04-01 false Valuation data. 4.10 Section 4.10 Conservation of Power and Water Resources FEDERAL ENERGY REGULATORY COMMISSION, DEPARTMENT OF... Valuation data. (a) Notification of Commission. In every case arising under section 23(a) of the Federal...

Environmental Justice Challengers for Ecosystem Service Valuation

EPA Science Inventory

In pursuing improved ecosystem services management, there is also an opportunity to work towards environmental justice. The practice of environmental valuation can assist with both goals, but as typically employed obscures distributional analysis. Furthermore, valuation technique...

12 CFR 226.42 - Valuation independence.

Code of Federal Regulations, 2011 CFR

2011-01-01

... valuation from consideration for future engagement because the person reports a value for the consumer's..., in the property or transaction for which the valuation is or will be performed. (ii) Employees and... violates paragraph (d)(1)(i) of this section based solely on the fact that the person— (A) Is an employee...

Intelligent databases assist transparent and sound economic valuation of ecosystem services.

PubMed

Villa, Ferdinando; Ceroni, Marta; Krivov, Sergey

2007-06-01

Assessment and economic valuation of services provided by ecosystems to humans has become a crucial phase in environmental management and policy-making. As primary valuation studies are out of the reach of many institutions, secondary valuation or benefit transfer, where the results of previous studies are transferred to the geographical, environmental, social, and economic context of interest, is becoming increasingly common. This has brought to light the importance of environmental valuation databases, which provide reliable valuation data to inform secondary valuation with enough detail to enable the transfer of values across contexts. This paper describes the role of next-generation, intelligent databases (IDBs) in assisting the activity of valuation. Such databases employ artificial intelligence to inform the transfer of values across contexts, enforcing comparability of values and allowing users to generate custom valuation portfolios that synthesize previous studies and provide aggregated value estimates to use as a base for secondary valuation. After a general introduction, we introduce the Ecosystem Services Database, the first IDB for environmental valuation to be made available to the public, describe its functionalities and the lessons learned from its usage, and outline the remaining needs and expected future developments in the field.

Bond Valuation for Colleges and Universities.

ERIC Educational Resources Information Center

National Association of College and University Business Officers, Washington, DC.

Bond valuation is examined to provide college administrators a more thorough understanding of the process to help them in developing their market values, or to help them in moving to a market valuation on bond holdings. Two methods presently used to value bonds, a matrix system and a trader quotation method, are described. An overview of bond…

Societal and economic valuation of technology-transfer deals

NASA Astrophysics Data System (ADS)

Holmes, Joseph S., Jr.

2009-09-01

The industrial adoption of concepts such as open innovation brings new legitimacy to activities technology-transfer professionals have conducted for over 20 years. This movement highlights the need for an increased understanding of the valuation of intellectual property (IP) and technology-transfer deals. Valuation, though a centerpiece of corporate finance, is more challenging when applied to the inherent uncertainty surrounding innovation. Technology-transfer professionals are often overwhelmed by the complexity and data requirements of valuation techniques and skeptical of their applicability to and utility for technology transfer. The market longs for an approach which bridges the gap between valuation fundamentals and technology-transfer realities. This paper presents the foundations of a simple, flexible, precise/accurate, and useful framework for considering the valuation of technology-transfer deals. The approach is predicated on a 12-factor model—a 3×4 value matrix predicated on categories of economic, societal, and strategic value. Each of these three categories consists of three core subcategories followed by a fourth "other" category to facilitate inevitable special considerations. This 12-factor value matrix provides a framework for harvesting data during deals and for the application of best-of-breed valuation techniques which can be employed on a per-factor basis. Future work will include framework implementation within a database platform.

36 CFR 254.42 - Valuation of tracts.

Code of Federal Regulations, 2010 CFR

2010-07-01

... 36 Parks, Forests, and Public Property 2 2010-07-01 2010-07-01 false Valuation of tracts. 254.42 Section 254.42 Parks, Forests, and Public Property FOREST SERVICE, DEPARTMENT OF AGRICULTURE LANDOWNERSHIP ADJUSTMENTS Conveyance of Small Tracts § 254.42 Valuation of tracts. (a) Approximately equal value shall be...

Moral valuation: a third domain of conscience functioning.

PubMed

Stilwell, B M; Galvin, M; Kopta, S M; Padgett, R J

1996-02-01

To assess development of moral valuation in normal children and adolescents, that is, how moral rules for living are derived and justified, and to examine the relationship of this progression with previously identified stages of conceptualization of conscience. Using three semistructured questions from the Stilwell Conscience Interview, 132 normal volunteers between the ages of 5 and 17 years were assessed. All moral valuation responses were examined within three aspects of social reference: authority-derived, self-derived, and peer-derived. Each aspect was scaled for complexity into six anchored levels. The levels of all three aspects correlated positively with conceptualization stages as well as with each other. When the covariate, age, was taken into consideration, peer-derived valuation was significantly correlated with both age and stage. Moral valuation is a domain of conscience functioning in which moral rules and their justifications are socially referenced in relationship to authority, self, and peers. Anchored levels of these three aspects of moral valuation provide developmental guidelines for mental status examinations in patients between 5 and 17 years of age as well as providing criteria for future comparative studies in various diagnostic categories of psychopathology.

Subjective Well-Being Approach to Environmental Valuation: Evidence for Greenhouse Gas Emissions

ERIC Educational Resources Information Center

Beja, Edsel L., Jr.

2012-01-01

The subjective well-being approach to environmental valuation is applied to analyze the valuation of greenhouse gas emissions with a fairness-adjustment in the valuation exercise. Results indicate that industrialized countries have high willingness-to-pay to reduce emissions. Developing countries differ in their valuations. Results indicate that…

Health literacy and logical inconsistencies in valuations of hypothetical health states: results from the Canadian EQ-5D-5L valuation study.

PubMed

Al Sayah, Fatima; Johnson, Jeffrey A; Ohinmaa, Arto; Xie, Feng; Bansback, Nick

2017-06-01

To examine the association of health literacy with logical inconsistencies in time trade-off valuations of hypothetical health states described by the EQ-5D-5L classification system. Data from the EQ-5D-5L Canadian Valuation study were used. Health literacy was assessed using the Brief Health Literacy Screen. A health state valuation was considered logically inconsistent if a respondent gave the same or lower value for a very mild health state compared to the value given to 55555, or gave the same or lower value for a very mild health state compared to value assigned to the majority of the health states that are dominated by the very mild health state. Average age of respondents (N = 1209) was 48 (SD = 17) years, 45% were male, 7% reported inadequate health literacy, and 11% had a logical inconsistency. In adjusted analysis, participants with inadequate health literacy were 2.2 (95%CI: 1.2, 4.0; p = 0.014) times more likely to provide an inconsistent valuation compared to those with adequate health literacy. More specifically, those who had problems in "understanding written information" and "reading health information" were more likely to have a logical inconsistency compared to those who did not. However, lacking "confidence in completing medical forms" was not associated with logical inconsistencies. Health literacy was associated with logical inconsistencies in valuations of hypothetical health states described by the EQ-5D-5L classification system. Valuations studies should consider assessing health literacy, and explore better ways to introduce the valuation tasks or use simpler approaches of health preferences elicitation for individuals with inadequate health literacy.

Neural valuation of environmental resources.

PubMed

Sawe, Nik; Knutson, Brian

2015-11-15

How do people value environmental resources? To estimate public valuation of natural resources, researchers often conduct surveys that ask people how much they would be willing to pay to preserve or restore threatened natural resources. However, these survey responses often elicit complex affective responses, including negative reactions toward proposed destructive land uses of those resources. To better characterize processes that underlie the valuation of environmental resources, we conducted behavioral and neuroimaging experiments in which subjects chose whether or not to donate money to protect natural park lands (iconic versus non-iconic) from proposed land uses (destructive versus non-destructive). In both studies, land use destructiveness motivated subjects' donations more powerfully than did the iconic qualities of the parks themselves. Consistent with an anticipatory affect account, nucleus accumbens (NAcc) activity increased in response to more iconic parks, while anterior insula activity increased in response to more destructive uses, and the interaction of these considerations altered activity in the medial prefrontal cortex (MPFC). Further, anterior insula activity predicted increased donations to preserve parks threatened by destructive uses, but MPFC activity predicted reduced donations. Finally, individuals with stronger pro-environmental attitudes showed greater anterior insula activity in response to proposed destructive uses. These results imply that negative responses to destructive land uses may play a prominent role in environmental valuation, potentially overshadowing positive responses to the environmental resources themselves. The findings also suggest that neuroimaging methods might eventually complement traditional survey methods by allowing researchers to disentangle distinct affective responses that influence environmental valuation. Copyright © 2015. Published by Elsevier Inc.

76 FR 30881 - Federal and Indian Coal Valuation

Federal Register 2010, 2011, 2012, 2013, 2014

2011-05-27

... No. ONRR-2011-0004] RIN 1012-AA00 Federal and Indian Coal Valuation AGENCY: Office of Natural... interested public before proposing changes to the existing regulations governing the valuation of coal produced from Federal and Indian leases, for royalty purposes. The existing Federal and Indian coal...

7 CFR 4290.503 - RBIC's adoption of an approved valuation policy.

Code of Federal Regulations, 2010 CFR

2010-01-01

... close of the quarter. (e) Review of valuations by independent public accountant. (1) For valuations performed as of the end of your fiscal year, your independent public accountant must review your valuation... independent public accountant's report on your audited annual financial statements (SBA Form 468) must include...

13 CFR 107.503 - Licensee's adoption of an approved valuation policy.

Code of Federal Regulations, 2010 CFR

2010-01-01

... of the quarter. (e) Review of valuations by independent public accountant. (1) For valuations performed as of the end of your fiscal year, your independent public accountant must review your valuation... independent public accountant's report on your audited annual financial statements (SBA Form 468) must include...

7 CFR 4290.503 - RBIC's adoption of an approved valuation policy.

Code of Federal Regulations, 2011 CFR

2011-01-01

... close of the quarter. (e) Review of valuations by independent public accountant. (1) For valuations performed as of the end of your fiscal year, your independent public accountant must review your valuation... independent public accountant's report on your audited annual financial statements (SBA Form 468) must include...

Valuation of medical resource units collected in health economic studies.

PubMed

Copley-Merriman, C; Lair, T J

1994-01-01

This paper reviews the issues that are critical for the valuation of medical resources in the context of health economic studies. There are several points to consider when undertaking the valuation of medical resources. The perspective of the analysis should be established before determining the valuation process. Future costs should be discounted to present values, and time and effort spent in assigning a monetary value to a medical resource should be proportional to its importance in the analysis. Prices vary considerably based on location of the service and the severity of the illness episode. Because of the wide variability in pricing data, sensitivity analysis is an important component of validation of study results. A variety of data sources have been applied to the valuation of medical resources. Several types of data are reviewed in this paper, including claims data, national survey data, administrative data, and marketing research data. Valuation of medical resources collected in clinical trials is complex because of the lack of standardization of the data sources. A national pricing data source for health economic valuation would greatly facilitate study analysis and make comparisons between results more meaningful.

An Approach for Calculating Land Valuation by Using Inspire Data Models

NASA Astrophysics Data System (ADS)

Aydinoglu, A. C.; Bovkir, R.

2017-11-01

Land valuation is a highly important concept for societies and governments have always emphasis on the process especially for taxation, expropriation, market capitalization and economic activity purposes. To success an interoperable and standardised land valuation, INSPIRE data models can be very practical and effective. If data used in land valuation process produced in compliance with INSPIRE specifications, a reliable and effective land valuation process can be performed. In this study, possibility of the performing land valuation process with using the INSPIRE data models was analysed and with the help of Geographic Information Systems (GIS) a case study in Pendik was implemented. For this purpose, firstly data analysis and gathering was performed. After, different data structures were transformed according to the INSPIRE data model requirements. For each data set necessary ETL (Extract-Transform-Load) tools were produced and all data transformed according to the target data requirements. With the availability and practicability of spatial analysis tools of GIS software, land valuation calculations were performed for study area.

Differences Between Individual and Societal Health State Valuations

PubMed Central

Chapman, Benjamin P.; Franks, Peter; Duberstein, Paul R.; Jerant, Anthony

2009-01-01

Objective The concept of “adaptation” has been proposed to account for differences between individual and societal valuations of specific health states in patients with chronic diseases. Little is known about psychological indices of adaptational capacity, which may predict differences in individual and societal valuations of health states. We investigated whether such differences were partially explained by personality traits in chronic disease patients. Research Design Analysis of baseline data of randomized controlled trial. Subjects Three hundred seventy patients with chronic disease. Measures The NEO-five factor inventory measure of personality, EuroQoL-5D (EQ-5D) societal-based, and the EQ visual analogue scale individually-based measures of health valuation. Results Regression analyses modeled Dev, a measure of difference between the EQ-Visual Analogue Scale and EQ-5D, as a function of personality traits, sociodemographic factors, and chronic diseases. Individual valuations were significantly and clinically higher than societal valuations among patients in the second and third quartile of conscientiousness (Dev = 0.08, P = 0.01); among covariates, only depression (Dev = -0.04, P = 0.046) was also associated with Dev. Conclusion Compared with societal valuations of a given health state, persons at higher quartiles of conscientiousness report less disutility associated with poor health. The effect is roughly twice that of some estimates of minimally important clinical differences on the EQ-5D and of depression. Although useful at the aggregate level, societal preference measures may systematically undervalue the health states of more conscientious individuals. Future work should examine the impact this has on individual patient outcome evaluation in clinical studies. PMID:19543121

19 CFR 10.18 - Valuation of assembled articles.

Code of Federal Regulations, 2010 CFR

2010-04-01

... 19 Customs Duties 1 2010-04-01 2010-04-01 false Valuation of assembled articles. 10.18 Section 10... THE TREASURY ARTICLES CONDITIONALLY FREE, SUBJECT TO A REDUCED RATE, ETC. General Provisions Articles Assembled Abroad with United States Components § 10.18 Valuation of assembled articles. As in the case of...

19 CFR 10.18 - Valuation of assembled articles.

Code of Federal Regulations, 2014 CFR

2014-04-01

... 19 Customs Duties 1 2014-04-01 2014-04-01 false Valuation of assembled articles. 10.18 Section 10... THE TREASURY ARTICLES CONDITIONALLY FREE, SUBJECT TO A REDUCED RATE, ETC. General Provisions Articles Assembled Abroad with United States Components § 10.18 Valuation of assembled articles. As in the case of...

19 CFR 10.18 - Valuation of assembled articles.

Code of Federal Regulations, 2013 CFR

2013-04-01

... 19 Customs Duties 1 2013-04-01 2013-04-01 false Valuation of assembled articles. 10.18 Section 10... THE TREASURY ARTICLES CONDITIONALLY FREE, SUBJECT TO A REDUCED RATE, ETC. General Provisions Articles Assembled Abroad with United States Components § 10.18 Valuation of assembled articles. As in the case of...

19 CFR 10.18 - Valuation of assembled articles.

Code of Federal Regulations, 2011 CFR

2011-04-01

... 19 Customs Duties 1 2011-04-01 2011-04-01 false Valuation of assembled articles. 10.18 Section 10... THE TREASURY ARTICLES CONDITIONALLY FREE, SUBJECT TO A REDUCED RATE, ETC. General Provisions Articles Assembled Abroad with United States Components § 10.18 Valuation of assembled articles. As in the case of...

19 CFR 10.18 - Valuation of assembled articles.

Code of Federal Regulations, 2012 CFR

2012-04-01

... 19 Customs Duties 1 2012-04-01 2012-04-01 false Valuation of assembled articles. 10.18 Section 10... THE TREASURY ARTICLES CONDITIONALLY FREE, SUBJECT TO A REDUCED RATE, ETC. General Provisions Articles Assembled Abroad with United States Components § 10.18 Valuation of assembled articles. As in the case of...

30 CFR 206.153 - Valuation standards-processed gas.

Code of Federal Regulations, 2010 CFR

2010-07-01

..., prices received in spot sales of residue gas or gas plant products, other reliable public sources of... MANAGEMENT PRODUCT VALUATION Federal Gas § 206.153 Valuation standards—processed gas. (a)(1) This section... to this section shall be the combined value of the residue gas and all gas plant products determined...

Economic valuation of the ecosystem services provided by a protected area in the Brazilian Cerrado: application of the contingent valuation method.

PubMed

Resende, F M; Fernandes, G W; Andrade, D C; Néder, H D

2017-11-01

Considering that the economic valuation of ecosystem services is a useful approach to support the conservation of natural areas, we aimed to estimate the monetary value of the benefits provided by a protected area in southeast Brazil, the Serra do Cipó National Park. We calculated the visitor's willingness to pay to conserve the ecosystems of the protected area using the contingent valuation method. Located in a region under intense anthropogenic pressure, the Serra do Cipó National Park is mostly composed of rupestrian grassland ecosystems, in addition to other Cerrado physiognomies. We conducted a survey consisting of 514 interviews with visitors of the region and found that the mean willingness to pay was R$ 7.16 year-1, which corresponds to a total of approximately R$ 716,000.00 year-1. We detected that per capita income, the household size, the level of interest in environmental issues and the place of origin influenced the likelihood that individuals are willing to contribute to the conservation of the park, as well as the value of the stated willingness to pay. This study conveys the importance of conserving rupestrian grassland and other Cerrado physiognomies to decision makers and society.

Outpatient imaging center valuations: do you need a fair-market value analysis?

PubMed

Koonsman, G S

2001-01-01

Typically, outpatient diagnostic imaging centers are formed as partnerships between radiologists, radiologists and hospitals, and/or radiologists and diagnostic imaging center management companies. As a result of these partnership structures, the question of equity valuation frequently arises. It is not only important to understand when an independent valuation would be required, but also what "type" of valuation needs to be performed. The type of valuation may vary based upon the use of the valuation. In partnerships that involve hospitals and physicians, the federal anti-kickback statutes (fraud and abuse laws) require that all transactions between referring physicians and hospitals be consummated at fair-market value. In addition, tax-exempt hospitals that enter into partnerships with physicians are required to enter into those transactions at fair-market value or risk losing their tax-exempt status. Fair-market value is also typically the standard of value that all partnerships strive to conduct equity transactions with shareholders. Qualifications required by those who perform independent fair-market value opinions include: Proper business valuation training and focus on valuations as a primary business Focus on the healthcare industry and specifically on the valuation of diagnostic imaging centers In order to perform a reasonable business valuation analysis, the appraiser must have access to a significant amount of financial, operational and legal information. The analyst must be able to understand the history of the imaging center as well as the projected future of the center. Ultimately, a valuation is a measurement of the estimated future cash flows of the center--risk adjusted--in order to quantify the present value of those cash flows.

30 CFR 1206.59 - May I ask ONRR for valuation guidance?

Code of Federal Regulations, 2014 CFR

2014-07-01

... 30 Mineral Resources 3 2014-07-01 2014-07-01 false May I ask ONRR for valuation guidance? 1206.59 Section 1206.59 Mineral Resources OFFICE OF NATURAL RESOURCES REVENUE, DEPARTMENT OF THE INTERIOR NATURAL RESOURCES REVENUE PRODUCT VALUATION Indian Oil § 1206.59 May I ask ONRR for valuation guidance? You may ask...

30 CFR 1206.59 - May I ask ONRR for valuation guidance?

Code of Federal Regulations, 2012 CFR

2012-07-01

... 30 Mineral Resources 3 2012-07-01 2012-07-01 false May I ask ONRR for valuation guidance? 1206.59 Section 1206.59 Mineral Resources OFFICE OF NATURAL RESOURCES REVENUE, DEPARTMENT OF THE INTERIOR NATURAL RESOURCES REVENUE PRODUCT VALUATION Indian Oil § 1206.59 May I ask ONRR for valuation guidance? You may ask...

30 CFR 1206.59 - May I ask ONRR for valuation guidance?

Code of Federal Regulations, 2013 CFR

2013-07-01

... 30 Mineral Resources 3 2013-07-01 2013-07-01 false May I ask ONRR for valuation guidance? 1206.59 Section 1206.59 Mineral Resources OFFICE OF NATURAL RESOURCES REVENUE, DEPARTMENT OF THE INTERIOR NATURAL RESOURCES REVENUE PRODUCT VALUATION Indian Oil § 1206.59 May I ask ONRR for valuation guidance? You may ask...

29 CFR 4044.71 - Valuation of annuity benefits.

Code of Federal Regulations, 2010 CFR

2010-07-01

... 29 Labor 9 2010-07-01 2010-07-01 false Valuation of annuity benefits. 4044.71 Section 4044.71... Valuation of annuity benefits. The value of a benefit which is to be paid as an annuity is the cost of purchasing the annuity on the date of distribution from an insurer under the qualifying bid. ...

26 CFR 25.2512-4 - Valuation of notes.

Code of Federal Regulations, 2010 CFR

2010-04-01

... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Valuation of notes. 25.2512-4 Section 25.2512-4... GIFT TAX; GIFTS MADE AFTER DECEMBER 31, 1954 Transfers § 25.2512-4 Valuation of notes. The fair market... the property, if any, pledged or mortgaged as security is insufficient to satisfy it. ...

Combining accounting approaches to practice valuation.

PubMed

Schwartzben, D; Finkler, S A

1998-06-01

Healthcare organizations that wish to acquire physician or ambulatory care practices can choose from a variety of practice valuation approaches. Basic accounting methods assess the value of a physician practice on the basis of a historical, balance-sheet description of tangible assets. Yet these methods alone are inadequate to determine the true financial value of a practice. By using a combination of accounting approaches to practice valuation that consider factors such as fair market value, opportunity cost, and discounted cash flow over a defined time period, organizations can more accurately assess a practice's actual value.

26 CFR 20.2031-4 - Valuation of notes.

Code of Federal Regulations, 2010 CFR

2010-04-01

... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Valuation of notes. 20.2031-4 Section 20.2031-4... ESTATE TAX; ESTATES OF DECEDENTS DYING AFTER AUGUST 16, 1954 Gross Estate § 20.2031-4 Valuation of notes... of the party or parties liable, or for other cause), and that any property pledged or mortgaged as...

Economic Valuation of Air Force Environmental Resources: A Contingent Valuation Case Study.

DTIC Science & Technology

1996-12-01

Empirical Measures of Welfare Change: A Comparison of Non-market Techniques," Land Economics: 156-175 (Vol. 61, No. 2, 1985). Sen , Amartya K...shackles of the traditional [observed] approach" ( Sen , 1977). The flexibility of a properly designed contingent valuation study allows CVM to measure

Ecosystem Service Valuation Assessments for Protected Area Management: A Case Study Comparing Methods Using Different Land Cover Classification and Valuation Approaches

PubMed Central

Whitham, Charlotte E. L.

2015-01-01

Accurate and spatially-appropriate ecosystem service valuations are vital for decision-makers and land managers. Many approaches for estimating ecosystem service value (ESV) exist, but their appropriateness under specific conditions or logistical limitations is not uniform. The most accurate techniques are therefore not always adopted. Six different assessment approaches were used to estimate ESV for a National Nature Reserve in southwest China, across different management zones. These approaches incorporated two different land-use land cover (LULC) maps and development of three economic valuation techniques, using globally or locally-derived data. The differences in ESV across management zones for the six approaches were largely influenced by the classifications of forest and farmland and how they corresponded with valuation coefficients. With realistic limits on access to time, data, skills and resources, and using acquired estimates from globally-relevant sources, the Buffer zone was estimated as the most valuable (2.494 million ± 1.371 million CNY yr-1 km-2) and the Non-protected zone as the least valuable (770,000 ± 4,600 CNY yr-1 km-2). However, for both LULC maps, when using the locally-based and more time and skill-intensive valuation approaches, this pattern was generally reversed. This paper provides a detailed practical example of how ESV can differ widely depending on the availability and appropriateness of LULC maps and valuation approaches used, highlighting pitfalls for the managers of protected areas. PMID:26086191

26 CFR 1.475(a)-4 - Valuation safe harbor.

Code of Federal Regulations, 2010 CFR

2010-04-01

...(a)-4 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Inventories § 1.475(a)-4 Valuation safe harbor. (a) Overview—(1) Purpose. This... portions of the payments have been recognized for tax purposes before the valuation and appropriate...

A social preference valuations set for EQ-5D health states in Flanders, Belgium.

PubMed

Cleemput, Irina

2010-04-01

This study aimed at deriving a preference valuation set for EQ-5D health states from the general Flemish public in Belgium. A EuroQol valuation instrument with 16 health states to be valued on a visual analogue scale was sent to a random sample of 2,754 adults. The initial response rate was 35%. Eventually, 548 (20%) respondents provided useable valuations for modeling. Valuations for 245 health states were modeled using a random effects model. The selection of the model was based on two criteria: health state valuations must be consistent, and the difference with the directly observed valuations must be small. A model including a value decrement if any health dimension of the EQ-5D is on the worst level was selected to construct the social health state valuation set. A comparison with health state valuations from other countries showed similarities, especially with those from New Zealand. The use of a single preference valuation set across different health economic evaluations within a country is highly preferable to increase their usability for policy makers. This study contributes to the standardization of outcome measurement in economic evaluations in Belgium.

43 CFR 30.264 - When must BIA furnish a valuation of a decedent's interests?

Code of Federal Regulations, 2010 CFR

2010-10-01

... 43 Public Lands: Interior 1 2010-10-01 2010-10-01 false When must BIA furnish a valuation of a... BIA furnish a valuation of a decedent's interests? (a) BIA must furnish a valuation report of the..., BIA must furnish a valuation report in the probate file when it is submitted to OHA. Interested...

On Super Edge-magic Total Labeling of Modified Watermill Graph

NASA Astrophysics Data System (ADS)

Nurdin; Ungko, T. S.; Gormantara, J.; Abdullah, A.; Aulyah, S.; Nikita

2018-03-01

An edge-magic total labeling on a graph G is one-to-one map from V(G) ∪ E(G) onto the set of integers 1,2, ...,ν + e, where ν = |V(G)| and e = |E(G)|, with the property that, given any edge uv, f(u) + f(u, ν}) + f(ν) = k for every u,v ∈ V(G), and k is called magic valuation. An edge-magic total labeling f is called super edge-magic total if f(v(G)) = {1,2 ...,|V(G)|} and f(E(G)) = {|V(G)| + 1, |V(G)| + 2,... |V(G) + E(G)|}. In this paper we investigate edge-magic total labeling of a new graph called modified Watermill graph. Furthermore, the magic valuation of the modified Watermill graph WM(n) is k=\\frac{1}{2}(21n+3), for n odd, n ≥ 3.

The Valuation of Non-Monetary Consumption in Household Surveys

ERIC Educational Resources Information Center

Muller, Christophe

2005-01-01

Many social indicators are based on household consumption information. The valuation of non-monetary operations is crucial for the analysis of consumption surveys in developing countries because of the importance of own-consumption and transfers in kind. What are the price statistics used in the valuation of consumption indicators? How is the…

26 CFR 20.2013-4 - Valuation of property transferred.

Code of Federal Regulations, 2010 CFR

2010-04-01

... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Valuation of property transferred. 20.2013-4 Section 20.2013-4 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) ESTATE....2013-4 Valuation of property transferred. (a) For purposes of section 2013 and §§ 20.2013-1 to 20.2013...

26 CFR 20.2013-4 - Valuation of property transferred.

Code of Federal Regulations, 2011 CFR

2011-04-01

... 26 Internal Revenue 14 2011-04-01 2010-04-01 true Valuation of property transferred. 20.2013-4 Section 20.2013-4 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) ESTATE....2013-4 Valuation of property transferred. (a) For purposes of section 2013 and §§ 20.2013-1 to 20.2013...

Timing effects in health valuations.

PubMed

Leiter, Andrea M; Pruckner, Gerald J

2014-06-01

This paper analyzes the impact of external sources of information, conveyed by the frequency of risky events that vary across time, on the individual willingness to pay (WTP) for a reduction of mortality risk. We collected data from a contingent valuation (CV) exercise conducted in two waves (fall and winter) to examine whether individual WTP varied across periods that differed in the predominance of fatal accidents. Risk valuations were based on fatal snow avalanche accidents, that is, a type of risk with seasonal differences in occurrence. We found slightly lower but statistically significant mean WTP figures in the winter than in the fall sample because of time-varying individual risk attitudes and, therefore, recommend controlling for these factors in risk assessment CV surveys. Copyright © 2013 John Wiley & Sons, Ltd.

Oak woodland economics: a contingent valuation of conversion alternatives

Treesearch

Richard P. Thompson; Jay E. Noel; Sarah P. Cross

2002-01-01

Decisions on how much land should be devoted to oak woodland preservation is ultimately determined by society's valuation of its benefits and relative scarcity. Scarcity value can be measured by people's willingness-to-pay (WTP) to prevent oak woodland conversion to higher value land uses. In this study, we used the contingent valuation (CV) method to...

Valuation Diagramming and Accounting of Transactive Energy Systems

DOE Office of Scientific and Technical Information (OSTI.GOV)

Makhmalbaf, Atefe; Hammerstrom, Donald J.; Huang, Qiuhua

Transactive energy (TE) systems support both economic and technical objectives of a power system including efficiency and reliability. TE systems utilize value-driven mechanisms to coordinate and balance responsive supply and demand in the power system. Economic performance of TE systems cannot be assessed without estimating their value. Estimating the potential value of transactive energy systems requires a systematic valuation methodology that can capture value exchanges among different stakeholders (i.e., actors) and ultimately estimate impact of one TE design and compare it against another one. Such a methodology can help decision makers choose the alternative that results in preferred outcomes. Thismore » paper presents a valuation methodology developed to assess value of TE systems. A TE use-case example is discussed, and metrics identified in the valuation process are quantified using a TE simulation program.« less

30 CFR 1206.257 - Valuation standards for ad valorem leases.

Code of Federal Regulations, 2012 CFR

2012-07-01

... NATURAL RESOURCES REVENUE PRODUCT VALUATION Federal Coal § 1206.257 Valuation standards for ad valorem leases. (a) This section is applicable to coal leases on Federal lands which provide for the... is inconsistent with the requirements of these regulations. (2) Any Federal lessee will make...

30 CFR 1206.257 - Valuation standards for ad valorem leases.

Code of Federal Regulations, 2014 CFR

2014-07-01

... NATURAL RESOURCES REVENUE PRODUCT VALUATION Federal Coal § 1206.257 Valuation standards for ad valorem leases. (a) This section is applicable to coal leases on Federal lands which provide for the... is inconsistent with the requirements of these regulations. (2) Any Federal lessee will make...

30 CFR 1206.257 - Valuation standards for ad valorem leases.

Code of Federal Regulations, 2013 CFR

2013-07-01

... NATURAL RESOURCES REVENUE PRODUCT VALUATION Federal Coal § 1206.257 Valuation standards for ad valorem leases. (a) This section is applicable to coal leases on Federal lands which provide for the... is inconsistent with the requirements of these regulations. (2) Any Federal lessee will make...

Music models aberrant rule decoding and reward valuation in dementia

PubMed Central

Clark, Camilla N; Golden, Hannah L; McCallion, Oliver; Nicholas, Jennifer M; Cohen, Miriam H; Slattery, Catherine F; Paterson, Ross W; Fletcher, Phillip D; Mummery, Catherine J; Rohrer, Jonathan D; Crutch, Sebastian J; Warren, Jason D

2018-01-01

Abstract Aberrant rule- and reward-based processes underpin abnormalities of socio-emotional behaviour in major dementias. However, these processes remain poorly characterized. Here we used music to probe rule decoding and reward valuation in patients with frontotemporal dementia (FTD) syndromes and Alzheimer’s disease (AD) relative to healthy age-matched individuals. We created short melodies that were either harmonically resolved (‘finished’) or unresolved (‘unfinished’); the task was to classify each melody as finished or unfinished (rule processing) and rate its subjective pleasantness (reward valuation). Results were adjusted for elementary pitch and executive processing; neuroanatomical correlates were assessed using voxel-based morphometry. Relative to healthy older controls, patients with behavioural variant FTD showed impairments of both musical rule decoding and reward valuation, while patients with semantic dementia showed impaired reward valuation but intact rule decoding, patients with AD showed impaired rule decoding but intact reward valuation and patients with progressive non-fluent aphasia performed comparably to healthy controls. Grey matter associations with task performance were identified in anterior temporal, medial and lateral orbitofrontal cortices, previously implicated in computing diverse biological and non-biological rules and rewards. The processing of musical rules and reward distils cognitive and neuroanatomical mechanisms relevant to complex socio-emotional dysfunction in major dementias. PMID:29186630

78 FR 25008 - Indian Oil Valuation Negotiated Rulemaking Committee; Meeting

Federal Register 2010, 2011, 2012, 2013, 2014

2013-04-29

...; DS63610300 DR2PS0000.CH7000 134D0102R2] 30 CFR Part 1206 Indian Oil Valuation Negotiated Rulemaking Committee... Natural Resources Revenue (ONRR) announces additional meetings for the Indian Oil Valuation Negotiated Rulemaking Committee (Committee). The Committee membership includes representatives from Indian tribes...

A Formal Valuation Framework for Emotions and Their Control.

PubMed

Huys, Quentin J M; Renz, Daniel

2017-09-15

Computational psychiatry aims to apply mathematical and computational techniques to help improve psychiatric care. To achieve this, the phenomena under scrutiny should be within the scope of formal methods. As emotions play an important role across many psychiatric disorders, such computational methods must encompass emotions. Here, we consider formal valuation accounts of emotions. We focus on the fact that the flexibility of emotional responses and the nature of appraisals suggest the need for a model-based valuation framework for emotions. However, resource limitations make plain model-based valuation impossible and require metareasoning strategies to apportion cognitive resources adaptively. We argue that emotions may implement such metareasoning approximations by restricting the range of behaviors and states considered. We consider the processes that guide the deployment of the approximations, discerning between innate, model-free, heuristic, and model-based controllers. A formal valuation and metareasoning framework may thus provide a principled approach to examining emotions. Copyright © 2017 Society of Biological Psychiatry. Published by Elsevier Inc. All rights reserved.

Spring cleaning: rural water impacts, valuation, and property rights institutions.

PubMed

Kremer, Michael; Leino, Jessica; Miguel, Edward; Zwane, Alix Peterson

2011-01-01

Using a randomized evaluation in Kenya, we measure health impacts of spring protection, an investment that improves source water quality. We also estimate households' valuation of spring protection and simulate the welfare impacts of alternatives to the current system of common property rights in water, which limits incentives for private investment. Spring infrastructure investments reduce fecal contamination by 66%, but household water quality improves less, due to recontamination. Child diarrhea falls by one quarter. Travel-cost based revealed preference estimates of households' valuations are much smaller than both stated preference valuations and health planners' valuations, and are consistent with models in which the demand for health is highly income elastic. We estimate that private property norms would generate little additional investment while imposing large static costs due to above-marginal-cost pricing, private property would function better at higher income levels or under water scarcity, and alternative institutions could yield Pareto improvements.

The ecological rationality of state-dependent valuation.

PubMed

McNamara, J M; Trimmer, P C; Houston, A I

2012-01-01

Laboratory studies on a range of animals have identified a bias that seems to violate basic principles of rational behavior: a preference is shown for feeding options that previously provided food when reserves were low, even though another option had been found to give the same reward with less delay. The bias presents a challenge to normative models of decision making (which only take account of expected rewards and the state of the animal at the decision time). To understand the behavior, we take a broad ecological perspective and consider how valuation mechanisms evolve when the best action depends upon the environment being faced. We show that in a changing and uncertain environment, state-dependent valuation can be favored by natural selection: Individuals should allow their hunger to affect learning for future decisions. The valuation mechanism that typically evolves produces the kind of behavior seen in standard laboratory tests. By providing an insight into why learning should be affected by the state of an individual, we provide a basis for understanding psychological principles in terms of an animal's ecology.

Children's Health Valuation Handbook (2003)

EPA Pesticide Factsheets

Reference tool for analysts conducting economic analyses of EPA policies when those policies are expected to affect risks to children's health. State of knowledge on valuation of children's health is in it's infancy, so informative and not prescriptive.

Benefit-based tree valuation

Treesearch

E.G. McPherson

2007-01-01

Benefit-based tree valuation provides alternative estimates of the fair and reasonable value of trees while illustrating the relative contribution of different benefit types. This study compared estimates of tree value obtained using cost- and benefit-based approaches. The cost-based approach used the Council of Landscape and Tree Appraisers trunk formula method, and...

29 CFR 4281.16 - Benefit valuation methods-plans closing out.

Code of Federal Regulations, 2010 CFR

2010-07-01

..., as determined under this subpart. (b) Valuation rule. The present value of nonforfeitable benefits... 4281(b) of ERISA, the plan sponsor shall value the plan's benefits in accordance with paragraph (b) of... 29 Labor 9 2010-07-01 2010-07-01 false Benefit valuation methods-plans closing out. 4281.16...

Geoenvironments from the vicinity of Arctowski Station, Admiralty Bay, King George Island, Antarctica: vulnerability and valuation assessment

USGS Publications Warehouse

Schaefer, Carlos Ernesto G.R.; Santana, Rogério Mercandelle; Simas, Felipe Nogueira Bello; Francelino, Márcio R.; Filho, Elpídio Inácio Fernandes; Albuquerque, Miriam Abreu; Calijuri, Maria Lúcia

2007-01-01

The use of a geographic information system (GIS) allows the mapping and quantification of biotic and physical features of importance to the environmental planning of Antarctic areas. In this paper we examined the main aspects of the geoenvironments of Arctowski Station vicinity (Admiralty bay, Maritime Antartica), by means of a photointerpretation of an orthomosaic at 1:6000 scale, produced by non-conventional aerial photographs obtained by the Brazilian Cryosols project. We carried out a preliminary environmental valuation and vulnerability assessment of the area. Hence, geoenvironments were classified and ranked according with their biological valuation and vulnerability (fragility), mapping 20 units covering approximately 150 ha. The most fragile geoenvironmental units were former and present penguin rookeries with different vegetation covers, all very prone to degradation by over-trampling and human perturbations. The relationships between each geoenvironment were also explored, emphasizing the ecological aspects and their valuation. In quantitative terms, the most vulnerable and fragile units (classes 4 and 5) occupy nearly 22 % of the total area, being highly concentrated near the coastal areas. There, ornithogenic input is an important factor favoring the vegetation development.

Value for money? A contingent valuation study of the optimal size of the Swedish health care budget.

PubMed

Eckerlund, I; Johannesson, M; Johansson, P O; Tambour, M; Zethraeus, N

1995-11-01

The contingent valuation method has been developed in the environmental field to measure the willingness to pay for environmental changes using survey methods. In this exploratory study the contingent valuation method was used to analyse how much individuals are willing to spend in total in the form of taxes for health care in Sweden, i.e. to analyse the optimal size of the 'health care budget' in Sweden. A binary contingent valuation question was included in a telephone survey of a random sample of 1260 households in Sweden. With a conservative interpretation of the data the result shows that 50% of the respondents would accept an increased tax payment to health care of about SEK 60 per month ($1 = SEK 8). It is concluded that the results indicate that the population overall thinks that the current spending on health care in Sweden is on a reasonable level. There seems to be a willingness to increase the tax payments somewhat, but major increases does not seem acceptable to a majority of the population.

26 CFR 1.430(g)-1 - Valuation date and valuation of plan assets.

Code of Federal Regulations, 2010 CFR

2010-04-01

...) Valuation date—(1) In general. The determination of the funding target, target normal cost, and value of...—(1) In general—(i) General use of fair market value. Except as otherwise provided in this paragraph (c), the value of plan assets for purposes of section 430 is equal to the fair market value of plan...

Valuating Privacy with Option Pricing Theory

NASA Astrophysics Data System (ADS)

Berthold, Stefan; Böhme, Rainer

One of the key challenges in the information society is responsible handling of personal data. An often-cited reason why people fail to make rational decisions regarding their own informational privacy is the high uncertainty about future consequences of information disclosures today. This chapter builds an analogy to financial options and draws on principles of option pricing to account for this uncertainty in the valuation of privacy. For this purpose, the development of a data subject's personal attributes over time and the development of the attribute distribution in the population are modeled as two stochastic processes, which fit into the Binomial Option Pricing Model (BOPM). Possible applications of such valuation methods to guide decision support in future privacy-enhancing technologies (PETs) are sketched.

A systematic review of ultrasound-accelerated catheter-directed thrombolysis in the treatment of deep vein thrombosis.

PubMed

Shi, Yadong; Shi, Wanyin; Chen, Liang; Gu, Jianping

2018-04-01

To review the clinical evidence for ultrasound-accelerated catheter-directed thrombolysis (UACDT) using the EKOS system in the treatment of deep vein thrombosis (DVT) in terms of case selection, procedural outcomes, clinical outcomes and safety outcomes. A systematic literature search strategy was used to identify the use of the EKOS system in the treatment of DVT using the following electronic databases: MEDLINE, EMBASE, the Cochrane databases and the Web of Science. The references in the relevant literature were also screened. Our literature search identified a total of 16 unique clinical studies. Twelve of the sixteen studies were retrospective case series studies. To date, only one randomised controlled trial (RCT) is available. Overall, UACDT using the EKOS system was performed 548 times in 512 patients. Among all cases, 77-100% achieved substantial lysis (> 50%) based on the different definitions of the individual studies. This treatment modality appears to be safe, as there were no reported procedure-related pulmonary embolisms (PE) and only one procedure-related death was reported. Bleeding events were reported in 14 of the 16 studies, and 3.9% (20/512) of the cases of bleeding were considered major. During the follow-up, post-thrombotic syndrome was observed in 17.1% (20/117) of cases. UACDT using the EKOS system is an effective, safe and promising treatment modality for DVT, but the existing clinical evidence is inadequate to make UACDT using the EKOS system the first-line choice for DVT. Additional prospective large-sample RCTs with long-term follow-ups are warranted to define the role of UACDT using the EKOS system in the treatment of DVT.

48 CFR 31.205-52 - Asset valuations resulting from business combinations.

Code of Federal Regulations, 2014 CFR

2014-10-01

... 48 Federal Acquisition Regulations System 1 2014-10-01 2014-10-01 false Asset valuations resulting from business combinations. 31.205-52 Section 31.205-52 Federal Acquisition Regulations System FEDERAL... Commercial Organizations 31.205-52 Asset valuations resulting from business combinations. (a) For tangible...

48 CFR 31.205-52 - Asset valuations resulting from business combinations.

Code of Federal Regulations, 2011 CFR

2011-10-01

... 48 Federal Acquisition Regulations System 1 2011-10-01 2011-10-01 false Asset valuations resulting from business combinations. 31.205-52 Section 31.205-52 Federal Acquisition Regulations System FEDERAL... Commercial Organizations 31.205-52 Asset valuations resulting from business combinations. (a) For tangible...

48 CFR 31.205-52 - Asset valuations resulting from business combinations.

Code of Federal Regulations, 2012 CFR

2012-10-01

... 48 Federal Acquisition Regulations System 1 2012-10-01 2012-10-01 false Asset valuations resulting from business combinations. 31.205-52 Section 31.205-52 Federal Acquisition Regulations System FEDERAL... Commercial Organizations 31.205-52 Asset valuations resulting from business combinations. (a) For tangible...

48 CFR 31.205-52 - Asset valuations resulting from business combinations.

Code of Federal Regulations, 2013 CFR

2013-10-01

... 48 Federal Acquisition Regulations System 1 2013-10-01 2013-10-01 false Asset valuations resulting from business combinations. 31.205-52 Section 31.205-52 Federal Acquisition Regulations System FEDERAL... Commercial Organizations 31.205-52 Asset valuations resulting from business combinations. (a) For tangible...

48 CFR 31.205-52 - Asset valuations resulting from business combinations.

Code of Federal Regulations, 2010 CFR

2010-10-01

... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Asset valuations resulting from business combinations. 31.205-52 Section 31.205-52 Federal Acquisition Regulations System FEDERAL... Commercial Organizations 31.205-52 Asset valuations resulting from business combinations. (a) For tangible...

78 FR 20244 - Product Valuation

Federal Register 2010, 2011, 2012, 2013, 2014

2013-04-04

... DEPARTMENT OF THE INTERIOR Office of Natural Resources Revenue 30 CFR Part 1206 Product Valuation CFR Correction In FR Doc. 2013-07512, appearing on page 19100, in the Federal Register of Friday, March 29, 2013, the subagency heading ``Surface Mining Reclamation and Enforcement'' is corrected to...

13 CFR 107.650 - Requirement to report portfolio valuations to SBA.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Requirement to report portfolio valuations to SBA. 107.650 Section 107.650 Business Credit and Assistance SMALL BUSINESS ADMINISTRATION SMALL... Reporting Requirements for Licensees § 107.650 Requirement to report portfolio valuations to SBA. You must...

Neuroscience and approach/avoidance personality traits: a two stage (valuation-motivation) approach.

PubMed

Corr, Philip J; McNaughton, Neil

2012-11-01

Many personality theories link specific traits to the sensitivities of the neural systems that control approach and avoidance. But there is no consensus on the nature of these systems. Here we combine recent advances in economics and neuroscience to provide a more solid foundation for a neuroscience of approach/avoidance personality. We propose a two-stage integration of valuation (loss/gain) sensitivities with motivational (approach/avoidance/conflict) sensitivities. Our key conclusions are: (1) that valuation of appetitive and aversive events (e.g. gain and loss as studied by behavioural economists) is an independent perceptual input stage--with the economic phenomenon of loss aversion resulting from greater negative valuation sensitivity compared to positive valuation sensitivity; (2) that valuation of an appetitive stimulus then interacts with a contingency of presentation or omission to generate a motivational 'attractor' or 'repulsor', respectively (vice versa for an aversive stimulus); (3) the resultant behavioural tendencies to approach or avoid have distinct sensitivities to those of the valuation systems; (4) while attractors and repulsors can reinforce new responses they also, more usually, elicit innate or previously conditioned responses and so the perception/valuation-motivation/action complex is best characterised as acting as a 'reinforcer' not a 'reinforcement'; and (5) approach-avoidance conflict must be viewed as activating a third motivation system that is distinct from the basic approach and avoidance systems. We provide examples of methods of assessing each of the constructs within approach-avoidance theories and of linking these constructs to personality measures. We sketch a preliminary five-element reinforcer sensitivity theory (RST-5) as a first step in the integration of existing specific approach-avoidance theories into a coherent neuroscience of personality. Copyright © 2012 Elsevier Ltd. All rights reserved.

Ecosystem's Modeling of Bhoj Wetland - A Base For Economic Valuation and Sustainable Management

NASA Astrophysics Data System (ADS)

Verma, M.; Bakshi, N.; Nair, R.

terms of productivity losses and health impacts? How feedback can be taken from these impacts to revise or develop management policies and to seek participation of stakeholders to check wet- land degradation or losses? What type of benefits accrues to people from this wetland? What is the willingness of the people to pay to conserve this important water body? Lake degradation is due to multiple causes hence lakeSs restoration requires multi- ple interventions. To suggest such interventions and above all their prioritizations, an 1 ecosystem model for the lake has been developed following the systemSs dynamics approach. The main objective of the Ecosystem Modeling of the wetland was to under- stand the changes in the hydrology of the wetland first on account of certain changes in the conditions of the surroundings such that valuation process can be followed with current and future scenarios of the lakes hydrology in hand. A sophisticated computer software called as STELLA was used for the modeling exercise. The model used wa- ter quality parameters to show the impact of flow of sewage on dissolved oxygen, bio-chemical oxygen demand, pH, total hardness, total alkalinity, bacterial count and growth of weeds. A base scenario has been created and various simulation runs have been performed for the pre and ongoing restoration activities for next 25 years so as to represent the health of the wetlandSs ecosystem. These scenarios have then been used in the valuation exercise to estimate the conservation value of the lake. Various valuation techniques like contingent valuation, production function approach, hedonic pricing and supply cost have been used to capture the economic values as perceived by different stakeholders. These scenarios and the valuation exercises further throw light on the prioritization of future policy intervention for sustainable management of this urban wetland. Key words: Ecosystem Services, Water Quality Parameters, EcosystemSs Modeling, Economic

Real options valuation in the design of Future surface combatants

DTIC Science & Technology

2017-06-01

VALUATION IN THE DESIGN OF FUTURE SURFACE COMBATANTS by Lauren B. Majchrzak June 2017 Thesis Advisor: Johnathan Mun Second Reader: Tom...thesis 4. TITLE AND SUBTITLE REAL OPTIONS VALUATION IN THE DESIGN OF FUTURE SURFACE COMBATANTS 5. FUNDING NUMBERS 6. AUTHOR(S) Lauren B. Majchrzak...meeting their service-life expectancy of 40 years. Modular Adaptable Ship (MAS) designs that include flexibility, decoupled payloads from the platform

Modeling Valuations from Experience: A Comment on Ashby and Rakow (2014)

ERIC Educational Resources Information Center

Wulff, Dirk U.; Pachur, Thorsten

2016-01-01

What are the cognitive mechanisms underlying subjective valuations formed on the basis of sequential experiences of an option's possible outcomes? Ashby and Rakow (2014) have proposed a sliding window model (SWIM), according to which people's valuations represent the average of a limited sample of recent experiences (the size of which is estimated…

Resource management and nonmarket valuation research

USGS Publications Warehouse

Douglas, A.J.; Taylor, J.G.

1999-01-01

Survey based nonmarket valuation research is often regarded as economics research. However, resource economists need to be aware of and acknowledge the manifold information sources that they employ in order to enhance the policy credibility of their studies. Communication between resource economists and practitioners of allied disciplines including chemistry, civil engineering, sociology, and anthropology are often neglected. Recent resource allocation policy debates have given rise to an extensive discussion of methodological issues that narrow the scope of the subject. The present paper provides a format for the presentation of nonmarket valuation research results that emphasizes the manifold links between economics studies that employ different methodologies to estimate nonmarket resource values. A more robust emphasis on the interlocking features of the different approaches for estimating nonmarket benefits should foster appreciation of the transdisciplinary aspects of the subject.

43 CFR 30.152 - May the parties to an agreement waive valuation of trust property?

Code of Federal Regulations, 2010 CFR

2010-10-01

... valuation of trust property? 30.152 Section 30.152 Public Lands: Interior Office of the Secretary of the... parties to an agreement waive valuation of trust property? The parties to a settlement agreement or a consolidation agreement may waive valuation of trust property otherwise required by regulation or the Secretary...

EPA Use of Ecological Nonmarket Valuation

EPA Science Inventory

This essay was motivated by a workshop at which numerous investigators presented advancements in nonmarket valuation . Much of the research, and the workshop itself were US Environmental Protection Agency (EPA) funded, and indeed the typical expected application was environmental...

The roles of valuation and reward processing in cognitive function and psychiatric disorders

PubMed Central

Hélie, Sébastien; Shamloo, Farzin; Novak, Keisha; Foti, Dan

2017-01-01

In neuroeconomics, valuation refers to the process of assigning values to states and actions based on the animal’s current representation of the environment while reward processing corresponds to processing the feedback received from the environment to update the values of states and actions. In this article, we review the brain circuits associated with valuation and reward processing and argue that these are fundamental processes critical in many cognitive functions. Specifically, we focus on the role of valuation and reward processing in attention, memory, decision–making, and learning. Next, the extant neuroimaging literature on a number of psychiatric disorders is reviewed (i.e., addiction, pathological gambling, schizophrenia, and mood disorders), and an argument is made that associated deficits in cognitive functions can be explained in terms of abnormal valuation and reward processing. The review concludes with the impact of this framework in clinical settings and prescriptions for future research, in particular with regards to the conversions of qualitatively different valuation systems into a system of common currency. PMID:28415138

77 FR 3606 - Product Valuation

Federal Register 2010, 2011, 2012, 2013, 2014

2012-01-25

... DEPARTMENT OF THE INTERIOR Office of Natural Resources Revenue 30 CFR Part 1206 Product Valuation CFR Correction 0 In Title 30 of the Code of Federal Regulations, Part 700 to End, revised as of July 1, 2011, ``ONNR'' is corrected to read ``ONRR'', as set forth in the following table: [[Page 3607

Differences between individual and societal health state valuations: any link with personality?

PubMed

Chapman, Benjamin P; Franks, Peter; Duberstein, Paul R; Jerant, Anthony

2009-08-01

The concept of "adaptation" has been proposed to account for differences between individual and societal valuations of specific health states in patients with chronic diseases. Little is known about psychological indices of adaptational capacity, which may predict differences in individual and societal valuations of health states. We investigated whether such differences were partially explained by personality traits in chronic disease patients. Analysis of baseline data of randomized controlled trial. Three hundred seventy patients with chronic disease. The NEO-five factor inventory measure of personality, EuroQoL-5D (EQ-5D) societal-based, and the EQ visual analogue scale individually-based measures of health valuation. Regression analyses modeled Dev, a measure of difference between the EQ-Visual Analogue Scale and EQ-5D, as a function of personality traits, sociodemographic factors, and chronic diseases. Individual valuations were significantly and clinically higher than societal valuations among patients in the second and third quartile of conscientiousness (Dev = 0.08, P = 0.01); among covariates, only depression (Dev = -0.04, P = 0.046) was also associated with Dev. Compared with societal valuations of a given health state, persons at higher quartiles of conscientiousness report less disutility associated with poor health. The effect is roughly twice that of some estimates of minimally important clinical differences on the EQ-5D and of depression. Although useful at the aggregate level, societal preference measures may systematically undervalue the health states of more conscientious individuals. Future work should examine the impact this has on individual patient outcome evaluation in clinical studies.

What ignited Forest Service interest in nonmarket valuation in fire economics?

Treesearch

John B. Loomis; Armando González-Cabán

2009-01-01

This paper traces the origin and evolution of the application of nonmarket valuation techniques to fire management within the USDA Forest Service. The motivation for contingent valuation (CVM) studies that quantify existence value is traced to the need for monetary benefits of protecting spotted owl old-growth forest habitat from fire in the early 1990s. Two large...

26 CFR 1.412(c)(2)-1 - Valuation of plan assets; reasonable actuarial valuation methods.

Code of Federal Regulations, 2013 CFR

2013-04-01

... valuation method must take into account fair market value by making use of the— (i) Fair market value... market value (under paragraph (c) of this section). (4) Defined benefit plans. (i) To satisfy the... changes in the fair market value of plan assets. The funding of plan benefits and the charges and credits...

26 CFR 1.412(c)(2)-1 - Valuation of plan assets; reasonable actuarial valuation methods.

Code of Federal Regulations, 2012 CFR

2012-04-01

... valuation method must take into account fair market value by making use of the— (i) Fair market value... market value (under paragraph (c) of this section). (4) Defined benefit plans. (i) To satisfy the... changes in the fair market value of plan assets. The funding of plan benefits and the charges and credits...

26 CFR 1.412(c)(2)-1 - Valuation of plan assets; reasonable actuarial valuation methods.

Code of Federal Regulations, 2011 CFR

2011-04-01

... valuation method must take into account fair market value by making use of the— (i) Fair market value... market value (under paragraph (c) of this section). (4) Defined benefit plans. (i) To satisfy the... changes in the fair market value of plan assets. The funding of plan benefits and the charges and credits...

26 CFR 1.412(c)(2)-1 - Valuation of plan assets; reasonable actuarial valuation methods.

Code of Federal Regulations, 2014 CFR

2014-04-01

... computed by— (i) Determining the fair market value of plan assets at least annually, (ii) Adding the...) In determining the adjusted value of plan assets for a prior valuation date, there is added to the... market value, amounts are subtracted from this account and added, to the extent necessary, to raise the...

78 FR 38829 - Product Valuation

Federal Register 2010, 2011, 2012, 2013, 2014

2013-06-28

... DEPARTMENT OF THE INTERIOR Office of Natural Resources Revenue 30 CFR Part 1206 Product Valuation CFR Correction In Title 30 of the Code of Federal Regulations, Part 700 to End, revised as of July 1, 2012, on page 742, in Sec. 1206.57, in paragraph (c)(3), the first sentence is corrected to read as...

78 FR 19100 - Product Valuation

Federal Register 2010, 2011, 2012, 2013, 2014

2013-03-29

... DEPARTMENT OF THE INTERIOR Surface Mining Reclamation and Enforcement 30 CFR Part 1206 Product Valuation CFR Correction In Title 30 of the Code of Federal Regulations, Parts 700 to End, revised as of July 1, 2012, on page 742, in Sec. 1206.57(d)(3) the reference to ``Sec. 1218.54'' is corrected to read...

Factors affecting the valuation of physician practices.

PubMed

Cleverley, W O

1997-12-01

Valuation of physician practices provides physicians with a benchmark of their business success and helps purchasers negotiate a purchase price. The Center for Healthcare Industry Performance Studies (CHIPS) recently conducted a survey of physician practice acquisitions. The survey collected data on salaries and benefits paid to physicians after practice acquisition, historical profitability of the acquired practice, and specific values assigned to both tangible and intangible assets in the practice. Some of the survey's critical conclusions include: hospitals tend to acquire unprofitable practices, value is based on historical revenues rather than historical profits, the importance of valuation methodology and payer mix is underestimated, tangible assets represent a large part of the purchase price, and hospitals tend to pay higher physician compensation than do other purchasers.

7 CFR 4290.650 - Requirement to report portfolio valuations to the Secretary

Code of Federal Regulations, 2010 CFR

2010-01-01

... 7 Agriculture 15 2010-01-01 2010-01-01 false Requirement to report portfolio valuations to the Secretary 4290.650 Section 4290.650 Agriculture Regulations of the Department of Agriculture (Continued... Reporting Requirements for Rbics § 4290.650 Requirement to report portfolio valuations to the Secretary You...

What's it worth? A general manager's guide to valuation.

PubMed

Luehrman, T A

1997-01-01

Behind every major resource-allocation decision a company makes lies some calculation of what that move is worth. So it is not surprising that valuation is the financial analytical skill general managers want to learn more than any other. Managers whose formal training is more than a few years old, however, are likely to have learned approaches that are becoming obsolete. What do generalists need in an updated valuation tool kit? In the 1970s, discounted-cash-flow analysis (DCF) emerged as best practice for valuing corporate assets. And one version of DCF-using the weighted-average cost of capital (WACC)-became the standard. Over the years, WACC has been used by most companies as a one-size-fits-all valuation tool. Today the WACC standard is insufficient. Improvements in computers and new theoretical insights have given rise to tools that outperform WACC in the three basic types of valuation problems managers face. Timothy Luehrman presents an overview of the three tools, explaining how they work and when to use them. For valuing operations, the DCF methodology of adjusted present value allows managers to break a problem into pieces that make managerial sense. For valuing opportunities, option pricing captures the contingent nature of investments in areas such as R&D and marketing. And for valuing ownership claims, the tool of equity cash flows helps managers value their company's stake in a joint venture, a strategic alliance, or an investment that uses project financing.

26 CFR 1.412(c)(2)-1 - Valuation of plan assets; reasonable actuarial valuation methods.

Code of Federal Regulations, 2010 CFR

2010-04-01

... market value by making use of the— (i) Fair market value (determined under paragraph (c) of this section... requirements of section 412(c)(2)(A) solely on the basis of their fair market value (under paragraph (c) of... reasonble actuarial valuation methods designed to mitigate short-run changes in the fair market value of...

13 CFR 108.503 - NMVC Company's adoption of an approved valuation policy.

Code of Federal Regulations, 2010 CFR

2010-01-01

... following the close of the quarter. (e) Review of valuations by independent public accountant. (1) For valuations performed as of the end of your fiscal year, your independent public accountant must review your... independent public accountant's report on your audited annual financial statements (SBA Form 468) must include...

29 CFR 4281.11 - Valuation dates.

Code of Federal Regulations, 2010 CFR

2010-07-01

... 29 Labor 9 2010-07-01 2010-07-01 false Valuation dates. 4281.11 Section 4281.11 Labor Regulations Relating to Labor (Continued) PENSION BENEFIT GUARANTY CORPORATION INSOLVENCY, REORGANIZATION, TERMINATION, AND OTHER RULES APPLICABLE TO MULTIEMPLOYER PLANS DUTIES OF PLAN SPONSOR FOLLOWING MASS WITHDRAWAL...

Measuring attachment to life in old age: the Portuguese version of the Positive Valuation of Life Scale (Positive VOL).

PubMed

Araújo, Lia; Ribeiro, Oscar; Teixeira, Laetitia; Azevedo, Maria João; Jopp, Daniela S; Rott, Christoph; Paúl, Constança

2015-10-01

This study aims to present the psychometric properties of the Portuguese version of the Positive Valuation of Life Scale (Lawton et al. in J Aging Ment Healt 13:3-31, 2001). Sample included 207 community-dwelling elders (129 women; M Age = 77.2 years, SD = 7.5). The data collection included the translated and adapted Portuguese version of Positive Valuation of Life Scale, Life Satisfaction Index Z, Meaning in Life Questionnaire and Geriatric Depression Scale. From exploratory factor analysis, two factors emerged, existential beliefs and perceived control, explaining 49 % of the total variance. Both factors were positively related with meaning in life and life satisfaction and negatively related with depression (p < 0.05). The values obtained for internal consistency for the total scale and for each subscale were good (α > 0.75). The Portuguese version of Positive VOL Scale represents a reliable and valid measure to capture the subjective experience of attachment to one's life. The two-factor structure is an update to Lawton's previous work and in line with findings obtained in the USA (Dennis et al. in What is valuation of life for frail community-dwelling older adults: factor structure and criterion validity of the VOL, Thomas Jefferson University, Center for Applied Research on Aging and Health Research, 2005) and Japan (Nakagawa et al. in Shinrigaku Kenkyu 84:37-46, 2013). Future research is required to investigate VOL predictors and the potential changes toward the end of the life span.

Individual responsibility and health-risk behaviour: a contingent valuation study from the ex ante societal perspective.

PubMed

van der Star, Sanne M; van den Berg, Bernard

2011-08-01

This study analyzes peoples' social preferences for individual responsibility to health-risk behaviour in health care using the contingent valuation method adopting a societal perspective. We measure peoples' willingness to pay for inclusion of a treatment in basic health insurance of a hypothetical lifestyle dependent (smoking) and lifestyle independent (chronic) health problem. Our hypothesis is that peoples' willingness to pay for the independent and the dependent health problems are similar. As a methodological challenge, this study also analyzes the extent to which people consider their personal situation when answering contingent valuation questions adopting a societal perspective. 513 Dutch inhabitants responded to the questionnaire. They were asked to state their maximum willingness to pay for inclusion of treatments in basic health insurance package for two health problems. We asked them to assume that one hypothetical health problem was totally independent of behaviour (for simplicity called chronic disease). Alternatively, we asked them to assume that the other hypothetical health problem was totally caused by health-risk behaviour (for simplicity called smoking disease). We applied the payment card method to guide respondents to answer the contingent valuation method questions. Mean willingness to pay was 42.39 Euros (CI=37.24-47.55) for inclusion of treatment for health problem that was unrelated to behaviour, with '5-10' and '10-20 Euros' as most frequently stated answers. In contrast, mean willingness to pay for inclusion treatment for health-risk related problem was 11.29 Euros (CI=8.83-14.55), with '0' and '0-5 Euros' as most frequently provided answers. Difference in mean willingness to pay was substantial (over 30 Euros) and statistically significant (p-value=0.000). Smokers were statistically significantly more (p-value<0.01) willing to pay for the health-risk related (smoking) problem compared with non-smokers, while people with chronic

Normalized value coding explains dynamic adaptation in the human valuation process.

PubMed

Khaw, Mel W; Glimcher, Paul W; Louie, Kenway

2017-11-28

The notion of subjective value is central to choice theories in ecology, economics, and psychology, serving as an integrated decision variable by which options are compared. Subjective value is often assumed to be an absolute quantity, determined in a static manner by the properties of an individual option. Recent neurobiological studies, however, have shown that neural value coding dynamically adapts to the statistics of the recent reward environment, introducing an intrinsic temporal context dependence into the neural representation of value. Whether valuation exhibits this kind of dynamic adaptation at the behavioral level is unknown. Here, we show that the valuation process in human subjects adapts to the history of previous values, with current valuations varying inversely with the average value of recently observed items. The dynamics of this adaptive valuation are captured by divisive normalization, linking these temporal context effects to spatial context effects in decision making as well as spatial and temporal context effects in perception. These findings suggest that adaptation is a universal feature of neural information processing and offer a unifying explanation for contextual phenomena in fields ranging from visual psychophysics to economic choice.

30 CFR 281.29 - Royalty valuation.

Code of Federal Regulations, 2010 CFR

2010-07-01

... 30 Mineral Resources 2 2010-07-01 2010-07-01 false Royalty valuation. 281.29 Section 281.29 Mineral Resources MINERALS MANAGEMENT SERVICE, DEPARTMENT OF THE INTERIOR OFFSHORE LEASING OF MINERALS OTHER THAN OIL, GAS, AND SULPHUR IN THE OUTER CONTINENTAL SHELF Financial Considerations § 281.29...

Council tax valuation band of patient residence and clinical contacts in a general practice

PubMed Central

Beale, Norman; Taylor, Gordon; Straker-Cook, Dawn; Peart, Carole; Gwynne, Mark

2005-01-01

Background There is a dearth of data relating UK general practice workload to personal and social markers of individual patients. Aim To test whether there is a significant association between general practice patient contact rates and the council tax valuation band of their residential address. Design of study Cross-sectional analyses using data recorded, over 1 year, for over 3300 general practice patients. Setting One medium-sized group practice in an industrialised English market town. Method Face-to-face contacts between the patients and the doctors and nurses in the practice were compared by patient age, sex, registration period, distance from surgery, Underprivileged Area 8 (UPA8) score, and council tax valuation band. Results Patient sex, age, recent registration, distance from surgery, and council tax valuation band were each significantly associated with face-to-face contact rate in univariate analyses. UPA8 score was not significantly associated with contact rates. On multivariate testing, sex, age, recent registration, and council tax valuation band remained significantly associated with contact rates. The last is a new finding. Conclusion Council tax valuation bands predict contact rate in general practice; the lower the band, the higher the contact rate. Council tax valuation band could be a useful marker of workload that is linked to socioeconomic status. This is a pilot study and multipractice research is advocated. PMID:15667763

Separate valuation subsystems for delay and effort decision costs.

PubMed

Prévost, Charlotte; Pessiglione, Mathias; Météreau, Elise; Cléry-Melin, Marie-Laure; Dreher, Jean-Claude

2010-10-20

Decision making consists of choosing among available options on the basis of a valuation of their potential costs and benefits. Most theoretical models of decision making in behavioral economics, psychology, and computer science propose that the desirability of outcomes expected from alternative options can be quantified by utility functions. These utility functions allow a decision maker to assign subjective values to each option under consideration by weighting the likely benefits and costs resulting from an action and to select the one with the highest subjective value. Here, we used model-based neuroimaging to test whether the human brain uses separate valuation systems for rewards (erotic stimuli) associated with different types of costs, namely, delay and effort. We show that humans devalue rewards associated with physical effort in a strikingly similar fashion to those they devalue that are associated with delays, and that a single computational model derived from economics theory can account for the behavior observed in both delay discounting and effort discounting. However, our neuroimaging data reveal that the human brain uses distinct valuation subsystems for different types of costs, reflecting in opposite fashion delayed reward and future energetic expenses. The ventral striatum and the ventromedial prefrontal cortex represent the increasing subjective value of delayed rewards, whereas a distinct network, composed of the anterior cingulate cortex and the anterior insula, represent the decreasing value of the effortful option, coding the expected expense of energy. Together, these data demonstrate that the valuation processes underlying different types of costs can be fractionated at the cerebral level.

Moving beyond the exchange value in the nonmarket valuation of ecosystem services

Treesearch

Karen E. Allen; Rebecca Moore

2016-01-01

There has been much discussion across the ecosystem services literature as to the role of economic valuation in identifying ecosystem service values and shaping policy. This article demonstrates a non-typical use of a nonmarket valuation technique known as the stated choice experiment (CE) for understanding a range of public preferences for stream-related...

Transactive Systems Simulation and Valuation Platform Trial Analysis

DOE Office of Scientific and Technical Information (OSTI.GOV)

Widergren, Steven E.; Hammerstrom, Donald J.; Huang, Qiuhua

Transactive energy systems use principles of value to coordinate responsive supply and demand in energy systems. Work continues within the Transactive Systems Program, which is funded by the U.S. Department of Energy at Pacific Northwest National Laboratory, to understand the value of, understand the theory behind, and simulate the behaviors of transactive energy systems. This report summarizes recent advances made by this program. The main capability advances include a more comprehensive valuation model, including recommended documentation that should make valuation studies of all sorts more transparent, definition of economic metrics with which transactive mechanisms can be evaluated, and multiple improvementsmore » to the time-simulation environment that is being used to evaluate transactive scenarios.« less

Varying the valuating function and the presentable bank in computerized adaptive testing.

PubMed

Barrada, Juan Ramón; Abad, Francisco José; Olea, Julio

2011-05-01

In computerized adaptive testing, the most commonly used valuating function is the Fisher information function. When the goal is to keep item bank security at a maximum, the valuating function that seems most convenient is the matching criterion, valuating the distance between the estimated trait level and the point where the maximum of the information function is located. Recently, it has been proposed not to keep the same valuating function constant for all the items in the test. In this study we expand the idea of combining the matching criterion with the Fisher information function. We also manipulate the number of strata into which the bank is divided. We find that the manipulation of the number of items administered with each function makes it possible to move from the pole of high accuracy and low security to the opposite pole. It is possible to greatly improve item bank security with much fewer losses in accuracy by selecting several items with the matching criterion. In general, it seems more appropriate not to stratify the bank.

Posterior resting state EEG asymmetries are associated with hedonic valuation of food.

PubMed

van Bochove, Marlies E; Ketel, Eva; Wischnewski, Miles; Wegman, Joost; Aarts, Esther; de Jonge, Benjamin; Medendorp, W Pieter; Schutter, Dennis J L G

2016-12-01

Research on the hedonic value of food has been important in understanding the motivational and emotional correlates of normal and abnormal eating behaviour. The aim of the present study was to explore associations between hemispheric asymmetries recorded during resting state electroencephalogram (EEG) and hedonic valuation of food. Healthy adult volunteers were recruited and four minutes of resting state EEG were recorded from the scalp. Hedonic food valuation and reward sensitivity were assessed with the hedonic attitude to food and behavioural activation scale. Results showed that parieto-occipital resting state EEG asymmetries in the alpha (8-12Hz) and beta (13-30Hz) frequency range correlate with the hedonic valuation of food. Our findings suggest that self-reported sensory-related attitude towards food is associated with interhemispheric asymmetries in resting state oscillatory activity. Our findings contribute to understanding the electrophysiological correlates of hedonic valuation, and may provide an opportunity to modulate the cortical imbalance by using non-invasive brain stimulation methods to change food consumption. Copyright © 2016 Elsevier B.V. All rights reserved.

Topics in Finance Part IV--Valuation

ERIC Educational Resources Information Center

Laux, Judy

2010-01-01

This article looks at security valuation from the perspective of the financial manager, accenting the relationships to stockholder wealth maximization (SWM), risk and return, and potential agency problems. It also covers some of the pertinent literature related to how investors and creditors price the stocks and bonds of corporations.

Taxation indices of forest stand as the basis for cadastral valuation of forestlands

NASA Astrophysics Data System (ADS)

Kovyazin, V.; Belyaev, V.; Pasko, O.; Romanchikov, A.

2014-08-01

Cadastral valuation of forestlands is one of the problems of the modern economy. Valuation procedures depend either on the profitability of timbering or forest areas are not differentiated according to value. The authors propose the procedure based on taxation indices of strata. The most important factors influencing the valuation are determined. The dependence that allows establishing the relative cost of a certain forest area is defined. Knowing the cadastral value of a model area, it is possible to determine the values of all other sites. The evaluation results correlate with the Faustman procedure with slight difference in the absolute value.

Improved Approximation Algorithms for Item Pricing with Bounded Degree and Valuation

NASA Astrophysics Data System (ADS)

Hamane, Ryoso; Itoh, Toshiya

When a store sells items to customers, the store wishes to decide the prices of the items to maximize its profit. If the store sells the items with low (resp. high) prices, the customers buy more (resp. less) items, which provides less profit to the store. It would be hard for the store to decide the prices of items. Assume that a store has a set V of n items and there is a set C of m customers who wish to buy those items. The goal of the store is to decide the price of each item to maximize its profit. We refer to this maximization problem as an item pricing problem. We classify the item pricing problems according to how many items the store can sell or how the customers valuate the items. If the store can sell every item i with unlimited (resp. limited) amount, we refer to this as unlimited supply (resp. limited supply). We say that the item pricing problem is single-minded if each customer j∈C wishes to buy a set ej⊆V of items and assigns valuation w(ej)≥0. For the single-minded item pricing problems (in unlimited supply), Balcan and Blum regarded them as weighted k-hypergraphs and gave several approximation algorithms. In this paper, we focus on the (pseudo) degree of k-hypergraphs and the valuation ratio, i. e., the ratio between the smallest and the largest valuations. Then for the single-minded item pricing problems (in unlimited supply), we show improved approximation algorithms (for k-hypergraphs, general graphs, bipartite graphs, etc.) with respect to the maximum (pseudo) degree and the valuation ratio.

CAN CONTINGENT VALUATION MEASURE PASSIVE USE VALUES

EPA Science Inventory

Contingent valuation (CV) is the only method currently available for practically measuring passive-use values. Because proposed laws may require that environmental regulations pass a benefit-cost test, CV has become central to the policy debate on environmental protection. Crit...

HOW PEOPLE RESPOND TO CONTINGENT VALUATION QUESTIONS

EPA Science Inventory

The purpose of the project is to understand better how individuals interpret and respond to contingent valuation (CV) questions. The research will address three issues: the reliability of the referendum questions format, the importance of reminding respondents about subst...

The Computational Complexity of Valuation and Motivational Forces in Decision-Making Processes

PubMed Central

Schultheiss, Nathan W.; Carter, Evan C.

2015-01-01

The concept of value is fundamental to most theories of motivation and decision making. However, value has to be measured experimentally. Different methods of measuring value produce incompatible valuation hierarchies. Taking the agent’s perspective (rather than the experimenter’s), we interpret the different valuation measurement methods as accessing different decision-making systems and show how these different systems depend on different information processing algorithms. This identifies the translation from these multiple decision-making systems into a single action taken by a given agent as one of the most important open questions in decision making today. We conclude by looking at how these different valuation measures accessing different decision-making systems can be used to understand and treat decision dysfunction such as in addiction. PMID:25981912

The Computational Complexity of Valuation and Motivational Forces in Decision-Making Processes.

PubMed

Redish, A David; Schultheiss, Nathan W; Carter, Evan C

2016-01-01

The concept of value is fundamental to most theories of motivation and decision making. However, value has to be measured experimentally. Different methods of measuring value produce incompatible valuation hierarchies. Taking the agent's perspective (rather than the experimenter's), we interpret the different valuation measurement methods as accessing different decision-making systems and show how these different systems depend on different information processing algorithms. This identifies the translation from these multiple decision-making systems into a single action taken by a given agent as one of the most important open questions in decision making today. We conclude by looking at how these different valuation measures accessing different decision-making systems can be used to understand and treat decision dysfunction such as in addiction.

A contingent valuation study of the value of reducing fire hazards to old-growth forests in the Pacific Northwest

Treesearch

John B. Loomis; Armando González-Cabán; Robin Gregory

1996-01-01

A contingent valuation methodology was applied to old-growth forests and critical habitat units for the Northern Spotted Owl in Oregon to estimate the economic value to the public in knowing that rare and unique ecosystems will be protected from fire for current and future generations. Generalizing to the whole state, the total annual willingness-to-pay of Oregon...

Market-based approaches to tree valuation

Treesearch

Geoffrey H. Donovan; David T. Butry

2008-01-01

A recent four-part series in Arborist News outlined different appraisal processes used to value urban trees. The final article in the series described the three generally accepted approaches to tree valuation: the sales comparison approach, the cost approach, and the income capitalization approach. The author, D. Logan Nelson, noted that the sales comparison approach...

Cadastral valuation of land contaminated with radionuclides

NASA Astrophysics Data System (ADS)

Ratnikov, A. N.; Sapozhnikov, P. M.; Sanzharova, N. I.; Sviridenko, D. G.; Zhigareva, T. L.; Popova, G. I.; Panov, A. V.; Kozlova, I. Yu.

2016-01-01

The methodology and procedure for cadastral valuation of land in the areas contaminated with radionuclides are presented. The efficiency of rehabilitation measures applied to decrease crop contamination to the levels satisfying sanitary-hygienic norms is discussed. The differentiation of cadastral value of radioactively contaminated agricultural lands for the particular farms and land plots is suggested. An example of cadastral valuation of agricultural land contaminated during the Chernobyl Nuclear Power Plant accident is given. It is shown that the use of sandy and loamy sandy soddy-podzolic soils with the 137Cs contamination of 37-185 and >185 kBq/m2 for crop growing is unfeasible. The growing of grain crops and potatoes on clay loamy soddy-podzolic soils with the 137Cs contamination of 555-740 kBq/m2 is unprofitable. The maximum cadastral value of radioactively contaminated lands is typical of leached chernozems.

Economic valuation of ecosystem services from coral reefs in the South Pacific: taking stock of recent experience.

PubMed

Laurans, Yann; Pascal, Nicolas; Binet, Thomas; Brander, Luke; Clua, Eric; David, Gilbert; Rojat, Dominique; Seidl, Andrew

2013-02-15

The economic valuation of coral reefs ecosystem services is currently seen as a promising approach to demonstrate the benefits of sustainable management of coral ecosystems to policymakers and to provide useful information for improved decisions. Most coral reefs economic studies have been conducted in the United States, Southeast Asia and the Caribbean, and only a few have covered the South Pacific region. In this region, coral reefs are essential assets for small island developing states as well as for developed countries. Accordingly, a series of ecosystem services valuations has been carried out recently in the South Pacific, to try and supply decision-makers with new information. Applying ecosystem services valuation to the specific ecological, social, economic and cultural contexts of the South Pacific is however not straightforward. This paper analyses how extant valuations address the various management challenges of coral reef regions in general and more specifically for the South Pacific. Bearing in mind that economic valuation has to match policy-making contexts, we emphasize a series of specific considerations when conducting and applying ecosystem services valuation in South Pacific ecological and social contexts. Finally, the paper examines the decision-making situations in which extant valuations took place. We conclude that, although ecosystem valuations have been effectively used as a means to raise awareness with respect to coral reef conservation, methodologies will have to be further developed, with multidisciplinary inputs, if they are to provide valuable inputs in local and technical decision-making. Copyright © 2012 Elsevier Ltd. All rights reserved.

A methodology for highway asset valuation in Indiana.

DOT National Transportation Integrated Search

2012-11-01

The Government Accounting Standards Board (GASB) requires transportation agencies to report the values of their tangible assets. : Numerous valuation methods exist which use different underlying concepts and data items. These traditional methods have...

Dynamic learning and context-dependence in sequential, attribute-based, stated-preference valuation questions

Treesearch

Thomas P. Holmes; Kevin J. Boyle

2005-01-01

A hybrid stated-preference model is presented that combines the referendum contingent valuation response format with an experimentally designed set of attributes. A sequence of valuation questions is asked to a random sample in a mailout mail-back format. Econometric analysis shows greater discrimination between alternatives in the final choice in the sequence, and the...

Contingent Valuation of Forest Ecosystem Protection

Treesearch

Randall A. Kramer; Thomas P. Holmes; Michelle Haefele

2003-01-01

In recent decades, concerns have arisen about the proper valuation of the world's forests. While some of these concerns have to do with market distortions for timber products or inadequate data on non-timber forest products, an additional challenge is to uncover the economic worth of non- market services provided by forest ecosystems (Kramer et al. 1997). This has...

How can we value an environmental asset that very few have visited or heard of? Lessons learned from applying contingent and inferred valuation in an Australian wetlands case study.

PubMed

Gregg, Daniel; Wheeler, Sarah Ann

2018-08-15

To date, the majority of environmental assets studied in the economic valuation literature clearly have high amenity and recreational use values. However there are many cases where small, but nevertheless unique and important, ecosystems survive as islands amongst large areas of modified, productive, or urban, landscapes. Development encroaches on the landscape and as urban landscapes become more concentrated these types of conservation islands will become increasingly more important. Previous experience with economic valuation suggests that lower total values for smaller contributions to conservation are more liable to be swamped by survey and hypothetical bias measures. Hence there needs to be more understanding of approaches to economic valuation for small and isolated environmental assets, in particular regarding controlling stated preference biases. This study applied the recently developed method of Inferred Valuation (IV) to a small private wetland in South-East Australia, and compared willingness to pay values with estimates from a standard Contingent Valuation (CV) approach. We found that hypothetical bias did seem to be slightly lower with the IV method. However, other methods such as the use of log-normal transformations and median measures, significantly mitigate apparent hypothetical biases and are easier to apply and allow use of the well-tested CV method. Copyright © 2018 Elsevier Ltd. All rights reserved.

Assessing the comprehensive restoration of an urban river: an integrated application of contingent valuation in Shanghai, China.

PubMed

Zhao, Jun; Liu, Qiuxia; Lin, Liqing; Lv, Huafang; Wang, Yao

2013-08-01

Around 2000, China began to address the comprehensive restoration of its urban rivers and attempt to restore river ecosystem services. This paper reports an integrated contingent valuation of the ecosystem services of Zhangjiabang Creek in Shanghai, which is in the most developed region of China. A total of 1440 questionnaires were delivered, and 1153 were returned as usable in August 2008. The willingness to pay for the restoration of the urban river is 20.22 RMB (2.91 USD) per month per household under the payment card and 110.64 RMB (15.92 USD) under the dichotomous format. Several important methodological issues of the contingent valuation method (CVM) are observed, including the disparity between willingness to pay and willingness to accept, the difference between payment card and dichotomous choice question formats, and the comparison of different models in welfare estimation using dichotomous choice data. Several new findings are disclosed for these three issues of CVM. Copyright © 2013 Elsevier B.V. All rights reserved.

15 CFR 296.6 - Valuation of transfers.

Code of Federal Regulations, 2012 CFR

2012-01-01

... 15 Commerce and Foreign Trade 1 2012-01-01 2012-01-01 false Valuation of transfers. 296.6 Section 296.6 Commerce and Foreign Trade Regulations Relating to Commerce and Foreign Trade NATIONAL INSTITUTE OF STANDARDS AND TECHNOLOGY, DEPARTMENT OF COMMERCE NIST EXTRAMURAL PROGRAMS TECHNOLOGY INNOVATION...

15 CFR 296.6 - Valuation of transfers.

Code of Federal Regulations, 2013 CFR

2013-01-01

... 15 Commerce and Foreign Trade 1 2013-01-01 2013-01-01 false Valuation of transfers. 296.6 Section 296.6 Commerce and Foreign Trade Regulations Relating to Commerce and Foreign Trade NATIONAL INSTITUTE OF STANDARDS AND TECHNOLOGY, DEPARTMENT OF COMMERCE NIST EXTRAMURAL PROGRAMS TECHNOLOGY INNOVATION...

15 CFR 296.6 - Valuation of transfers.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 15 Commerce and Foreign Trade 1 2010-01-01 2010-01-01 false Valuation of transfers. 296.6 Section 296.6 Commerce and Foreign Trade Regulations Relating to Commerce and Foreign Trade NATIONAL INSTITUTE OF STANDARDS AND TECHNOLOGY, DEPARTMENT OF COMMERCE NIST EXTRAMURAL PROGRAMS TECHNOLOGY INNOVATION...

15 CFR 296.6 - Valuation of transfers.

Code of Federal Regulations, 2014 CFR

2014-01-01

... 15 Commerce and Foreign Trade 1 2014-01-01 2014-01-01 false Valuation of transfers. 296.6 Section 296.6 Commerce and Foreign Trade Regulations Relating to Commerce and Foreign Trade NATIONAL INSTITUTE OF STANDARDS AND TECHNOLOGY, DEPARTMENT OF COMMERCE NIST EXTRAMURAL PROGRAMS TECHNOLOGY INNOVATION...

15 CFR 296.6 - Valuation of transfers.

Code of Federal Regulations, 2011 CFR

2011-01-01

... 15 Commerce and Foreign Trade 1 2011-01-01 2011-01-01 false Valuation of transfers. 296.6 Section 296.6 Commerce and Foreign Trade Regulations Relating to Commerce and Foreign Trade NATIONAL INSTITUTE OF STANDARDS AND TECHNOLOGY, DEPARTMENT OF COMMERCE NIST EXTRAMURAL PROGRAMS TECHNOLOGY INNOVATION...

A dynamic code for economic object valuation in prefrontal cortex neurons

PubMed Central

Tsutsui, Ken-Ichiro; Grabenhorst, Fabian; Kobayashi, Shunsuke; Schultz, Wolfram

2016-01-01

Neuronal reward valuations provide the physiological basis for economic behaviour. Yet, how such valuations are converted to economic decisions remains unclear. Here we show that the dorsolateral prefrontal cortex (DLPFC) implements a flexible value code based on object-specific valuations by single neurons. As monkeys perform a reward-based foraging task, individual DLPFC neurons signal the value of specific choice objects derived from recent experience. These neuronal object values satisfy principles of competitive choice mechanisms, track performance fluctuations and follow predictions of a classical behavioural model (Herrnstein’s matching law). Individual neurons dynamically encode both, the updating of object values from recently experienced rewards, and their subsequent conversion to object choices during decision-making. Decoding from unselected populations enables a read-out of motivational and decision variables not emphasized by individual neurons. These findings suggest a dynamic single-neuron and population value code in DLPFC that advances from reward experiences to economic object values and future choices. PMID:27618960

17 CFR 270.2a-2 - Effect of eliminations upon valuation of portfolio securities.

Code of Federal Regulations, 2010 CFR

2010-04-01

... valuation of portfolio securities. 270.2a-2 Section 270.2a-2 Commodity and Securities Exchanges SECURITIES... Effect of eliminations upon valuation of portfolio securities. During any fiscal quarter in which elimination of securities from the portfolio of an investment company occur, the securities remaining in the...

"Tell me I'm sexy…and otherwise valuable:" Body Valuation and Relationship Satisfaction.

PubMed

Meltzer, Andrea L; McNulty, James K

2014-03-01

Although extant research demonstrates that body valuation by strangers has negative implications for women, Studies 1 and 2 demonstrate that body valuation by a committed male partner is positively associated with women's relationship satisfaction when that partner also values them for their non-physical qualities, but negatively associated with women's relationship satisfaction when that partner is not committed or does not value them for their non-physical qualities. Study 3 demonstrates that body valuation by a committed female partner is negatively associated with men's relationship satisfaction when that partner does not also value them for their non-physical qualities but unassociated with men's satisfaction otherwise. These findings join others demonstrating that fully understanding the implications of interpersonal processes requires considering the interpersonal context. (120 words).

IMPROVED VALUATION OF ECOLOGICAL BENEFITS ASSOCIATED WITH AQUATIC LIVING RESOURCES: DEVELOPMENT AND TESTING OF INDICATOR-BASED STATED PREFERENCE VALUATION AND TRANSFER

EPA Science Inventory

In addition to development and systematic qualitative/quantitative testing of indicator-based valuation for aquatic living resources, the proposed work will improve interdisciplinary mechanisms to model and communicate aquatic ecosystem change within SP valuation—an area...

Testing the construct validity of willingness to pay valuations using objective information about risk and health benefit.

PubMed

Philips, Zoë; Whynes, David K; Avis, Mark

2006-02-01

This paper describes an experiment to test the construct validity of contingent valuation, by eliciting women's valuations for the NHS cervical cancer screening programme. It is known that, owing to low levels of knowledge of cancer and screening in the general population, women both over-estimate the risk of disease and the efficacy of screening. The study is constructed as a randomised experiment, in which one group is provided with accurate information about cervical cancer screening, whilst the other is not. The first hypothesis supporting construct validity, that controls who perceive greater benefits from screening will offer higher valuations, is substantiated. Both groups are then provided with objective information on an improvement to the screening programme, and are asked to value the improvement as an increment to their original valuations. The second hypothesis supporting construct validity, that controls who perceive the benefits of the programme to be high already will offer lower incremental valuations, is also substantiated. Copyright 2005 John Wiley & Sons, Ltd.

Serious child and adolescent behaviour disorders; a valuation study by professionals, youth and parents.

PubMed

Vermeulen, Karin M; Jansen, Daniëlle E M C; Buskens, Erik; Knorth, Erik J; Reijneveld, Sijmen A

2017-06-02

In child and youth care, quantitative estimates of the impact of serious behaviour problems have not yet been made. Such input is needed to support decision making on investments in treatment. The aim of this paper was to elicit valuations of social and conduct disorders in children and adolescents from three different perspectives: professionals, youth, and parents. We obtained valuations from 25 youth care professionals, 50 children (age 9-10) without serious behaviour problems and 36 adolescents (age 16-17) with and without serious behaviour disorders, and 46 parents with children in the aforementioned age categories. Valuations were estimated from 18 descriptions of behaviour disorders in youth aged 9 and 15 years. Descriptions included Oppositional Defiant Disorder (ODD), Conduct Disorder (CD), and Disruptive Behaviour Disorder (DBD). Comorbid conditions were Attention Deficit Hyperactivity Disorder and substance abuse. Valuations were obtained with the EuroQol questionnaire (EQ-5D-3 L) and a visual analogue scale (VAS). Valuations were generally severe; problems were by and large reported to worsen quality of life by 50% compared to being fully healthy. Professionals regarded DBD with substance abuse as most severe (VAS values 0.41 for children, and 0.43 for adolescents, i.e. less than half of normal). They rated ODD as least severe (VAS values 0.58 for children, 0.59 for adolescents). Children, adolescents and parents gave lower valuations than professionals, and had a wider range of scores, particularly at the lower end of the scale. Behaviour disorders pose a formidable burden from the perspectives of professionals as well as children, adolescents and parents. These results may support medical decision making to set priorities with regard to prevention and treatment based on perceived severity.

Real Options Valuation of e-Learning Projects

ERIC Educational Resources Information Center

Freitas, Angilberto; Brandao, Luiz

2010-01-01

New information and communication technologies have been gaining widespread use in Distance Education (DE) models. At the same time, the uncertainty in the market demand for this form of higher education is such that the valuation of "e-Learning" projects has become increasingly difficult and complex. This is due to the fact that…

Mise à jour technique sur la physiologie et l'évaluation du liquide amniotique.

PubMed

Lim, Kenneth I; Butt, Kimberly; Naud, Kentia; Smithies, Mila

2017-01-01

RéSULTATS: SOURCES DES DONNéES PROBANTES: Nous avons effectué une recherche sur MEDLINE et Kfinder pour trouver des articles pertinents, puis avons examiné les bibliographies des articles retenus, notamment des revues Cochrane et des articles de revue récents. Les données recueillies ont été analysées par le Comité d'imagerie diagnostique de la Société des obstétriciens et gynécologues du Canada. Les recommandations ont été classées selon les critères établis par le Groupe d'étude canadien sur les soins de santé préventifs (Tableau 1). AVANTAGES, DéSAVANTAGES ET COûTS: En obstétrique moderne, l'évaluation du volume de liquide amniotique par échographie fait partie intégrante de l'évaluation fœtale. Toute anomalie donne lieu à une intervention obstétricale et à des examens approfondis. Au Canada, il n'existe aucune définition normalisée associée à l'estimation du volume de liquide amniotique ni aucune approche d'évaluation uniforme. Plusieurs essais randomisés semblent indiquer que l'évaluation de poche unique, plutôt que de plusieurs poches (indice de liquide amniotique), diminue les interventions obstétricales sans augmenter l'incidence de résultats indésirables. La littérature récente laisse croire que des changements légers, mais détectables du liquide amniotique peuvent survenir une heure ou deux suivant des manœuvres physiologiques normales, ce qui pourrait expliquer la variabilité et le manque de cohérence des résultats d'évaluations répétées en peu de temps et ainsi créer de la confusion et donner lieu à d'autres examens. Le présent article vise à décrire les limites de l'évaluation du volume de liquide amniotique, à promouvoir une méthode d'évaluation normalisée et à proposer un ensemble commun de définitions. DéCLARATIONS SOMMAIRES: RECOMMANDATION. Copyright © 2017. Published by Elsevier Inc.

The Contingent Valuation Method in Public Libraries

ERIC Educational Resources Information Center

Chung, Hye-Kyung

2008-01-01

This study aims to present a new model measuring the economic value of public libraries, combining the dissonance minimizing (DM) and information bias minimizing (IBM) format in the contingent valuation (CV) surveys. The possible biases which are tied to the conventional CV surveys are reviewed. An empirical study is presented to compare the model…

26 CFR 301.7517-1 - Furnishing on request of statement explaining estate or gift valuation.

Code of Federal Regulations, 2010 CFR

2010-04-01

... estate or gift valuation. 301.7517-1 Section 301.7517-1 Internal Revenue INTERNAL REVENUE SERVICE... estate or gift valuation. (a) In general. Section 7517 requires the Service to furnish to a taxpayer, at the request of that taxpayer, a statement explaining the estate, gift or generation-skipping transfer...

Anticipatory anxiety disrupts neural valuation during risky choice.

PubMed

Engelmann, Jan B; Meyer, Friederike; Fehr, Ernst; Ruff, Christian C

2015-02-18

Incidental negative emotions unrelated to the current task, such as background anxiety, can strongly influence decisions. This is most evident in psychiatric disorders associated with generalized emotional disturbances. However, the neural mechanisms by which incidental emotions may affect choices remain poorly understood. Here we study the effects of incidental anxiety on human risky decision making, focusing on both behavioral preferences and their underlying neural processes. Although observable choices remained stable across affective contexts with high and low incidental anxiety, we found a clear change in neural valuation signals: during high incidental anxiety, activity in ventromedial prefrontal cortex and ventral striatum showed a marked reduction in (1) neural coding of the expected subjective value (ESV) of risky options, (2) prediction of observed choices, (3) functional coupling with other areas of the valuation system, and (4) baseline activity. At the same time, activity in the anterior insula showed an increase in coding the negative ESV of risky lotteries, and this neural activity predicted whether the risky lotteries would be rejected. This pattern of results suggests that incidental anxiety can shift the focus of neural valuation from possible positive consequences to anticipated negative consequences of choice options. Moreover, our findings show that these changes in neural value coding can occur in the absence of changes in overt behavior. This suggest a possible pathway by which background anxiety may lead to the development of chronic reward desensitization and a maladaptive focus on negative cognitions, as prevalent in affective and anxiety disorders. Copyright © 2015 the authors 0270-6474/15/353085-15$15.00/0.

Landslides geotechnical analysis. Qualitative assessment by valuation factors

NASA Astrophysics Data System (ADS)

Cuanalo Oscar, Sc D.; Oliva Aldo, Sc D.; Polanco Gabriel, M. E.

2012-04-01

In general, a landslide can cause a disaster when it is combined a number of factors such as an extreme event related to a geological phenomenon, vulnerable elements exposed in a specific geographic area, and the probability of loss and damage evaluated in terms of lives and economic assets, in a certain period of time. This paper presents the qualitative evaluation of slope stability through of Valuation Factors, obtained from the characterization of the determinants and triggers factors that influence the instability; for the first the morphology and topography, geology, soil mechanics, hydrogeology and vegetation to the second, the rain, earthquakes, erosion and scour, human activity, and ultimately dependent factors of the stability analysis, and its influence ranges which greatly facilitate the selection of construction processes best suited to improve the behavior of a slope or hillside. The Valuation Factors are a set of parameters for assessing the influence of conditioning and triggering factors that influence the stability of slopes and hillsides. The characteristics of each factor must be properly categorized to involve its effect on behavior; a way to do this is by assigning a weighted value range indicating its effect on the stability of a slope. It is proposed to use Valuation Factors with weighted values between 0 and 1 (arbitrarily selected but common sense and logic), the first corresponds to no or minimal effect on stability (no effect or very little influence) and the second, the greatest impact on it (has a significant influence). The meddle effects are evaluated with intermediate values.

The Measurement of Subjective Value and Its Relation to Contingent Valuation and Environmental Public Goods

PubMed Central

Khaw, Mel W.; Grab, Denise A.; Livermore, Michael A.; Vossler, Christian A.; Glimcher, Paul W.

2015-01-01

Environmental public goods—including national parks, clean air/water, and ecosystem services—provide substantial benefits on a global scale. These goods have unique characteristics in that they are typically “nonmarket” goods, with values from both use and passive use that accrue to a large number of individuals both in current and future generations. In this study, we test the hypothesis that neural signals in areas correlated with subjective valuations for essentially all other previously studied categories of goods (ventromedial prefrontal cortex and ventral striatum) also correlate with environmental valuations. We use contingent valuation (CV) as our behavioral tool for measuring valuations of environmental public goods. CV is a standard stated preference approach that presents survey respondents with information on an issue and asks questions that help policymakers determine how much citizens are willing to pay for a public good or policy. We scanned human subjects while they viewed environmental proposals, along with three other classes of goods. The presentation of all four classes of goods yielded robust and similar patterns of temporally synchronized brain activation within attentional networks. The activations associated with the traditional classes of goods replicate previous correlations between neural activity in valuation areas and behavioral preferences. In contrast, CV-elicited values for environmental proposals did not correlate with brain activity at either the individual or population level. For a sub-population of participants, CV-elicited values were correlated with activity within the dorsomedial prefrontal cortex, a region associated with cognitive control and shifting decision strategies. The results show that neural activity associated with the subjective valuation of environmental proposals differs profoundly from the neural activity associated with previously examined goods and preference measures. PMID:26221734

Public provision of four-wheeled walkers: contingent valuation study of economic benefit.

PubMed

Haines, Terry; Brown, Cassandra; Morrison, Jan

2008-09-01

To quantify the economic value of publicly provided four-wheeled walkers as judged by recipients in Queensland, Australia. Contingent valuation study using willingness-to-pay approach. A sample of 49 Australian older adults who received a publicly funded four-wheeled walker in the past 3 months completed the survey via telephone. A discrete choice bidding response format with a randomly selected starting bid was employed to glean valuations. This approach yielded only one non-response, and one zero dollar response. The mean (standard deviation) valuation provided was $ A 290 ($ A 167), which was $ A 84 in excess of the price paid by the public provider agency to purchase the equipment. Starting bid was significantly associated with values provided. The current public provision program of four-wheeled walkers is likely to generate net societal benefit. These findings coupled with arguments based on equity build a moderate case for the continuation of this program.

48 CFR 211.274-3 - Policy for valuation.

Code of Federal Regulations, 2014 CFR

2014-10-01

... 48 Federal Acquisition Regulations System 3 2014-10-01 2014-10-01 false Policy for valuation. 211.274-3 Section 211.274-3 Federal Acquisition Regulations System DEFENSE ACQUISITION REGULATIONS SYSTEM...) The Government's unit acquisition cost of subassemblies, components, and parts embedded in delivered...

Aiding priority setting in health care: is there a role for the contingent valuation method?

PubMed

Olsen, J A

1997-01-01

The paper discusses some methodological and measurement aspects with the contingent valuation (CV) method which appear to create problems when eliciting preferences for the relative social valuation of alternative health care programmes. After pointing to biases which tend to exaggerate the true valuations, emphasis is placed on framing issues when applied to health care. Thereafter the paper discusses the extent to which preferences elicited through one's willingness to pay can be used to infer how the respondent would prioritize between the health care programmes in question. New empirical evidence is presented which suggest discrepancies between a CV ranking and the ranking expressed when making a direct ordinal comparison.

Quantifying Users' Interconnectedness in Online Social Networks - An Indispensible Step for Economic Valuation

NASA Astrophysics Data System (ADS)

Gneiser, Martin; Heidemann, Julia; Klier, Mathias; Landherr, Andrea; Probst, Florian

Online social networks have been gaining increasing economic importance in light of the rising number of their users. Numerous recent acquisitions priced at enormous amounts have illustrated this development and revealed the need for adequate business valuation models. The value of an online social network is largely determined by the value of its users, the relationships between these users, and the resulting network effects. Therefore, the interconnectedness of a user within the network has to be considered explicitly to get a reasonable estimate for the economic value. Established standard business valuation models, however, do not sufficiently take these aspects into account. Thus, we propose a measure based on the PageRank-algorithm to quantify users’ interconnectedness in an online social network. This is a first but indispensible step towards an adequate economic valuation of online social networks.

Evaluating minimalist mimics by exploring key orientations on secondary structures (EKOS).

PubMed

Xin, Dongyue; Ko, Eunhwa; Perez, Lisa M; Ioerger, Thomas R; Burgess, Kevin

2013-11-28

Peptide mimics that display amino acid side-chains on semi-rigid scaffolds (not peptide polyamides) can be referred to as minimalist mimics. Accessible conformations of these scaffolds may overlay with secondary structures giving, for example, "minimalist helical mimics". It is difficult for researchers who want to apply minimalist mimics to decide which one to use because there is no widely accepted protocol for calibrating how closely these compounds mimic secondary structures. Moreover, it is also difficult for potential practitioners to evaluate which ideal minimalist helical mimics are preferred for a particular set of side-chains. For instance, what mimic presents i, i + 4, i + 7 side-chains in orientations that best resemble an ideal α-helix, and is a different mimic required for a i, i + 3, i + 7 helical combination? This article describes a protocol for fitting each member of an array of accessible scaffold conformations on secondary structures. The protocol involves: (i) use quenched molecular dynamics (QMD) to generate an ensemble consisting of hundreds of accessible, low energy conformers of the mimics; (ii) representation of each of these as a set of Cα and Cβ coordinates corresponding to three amino acid side-chains displayed by the scaffolds; (iii) similar representation of each combination of three side-chains in each ideal secondary structure as a set of Cα and Cβ coordinates corresponding to three amino acid side-chains displayed by the scaffolds; and, (iv) overlay Cα and Cβ coordinates of all the conformers on all the sets of side-chain "triads" in the ideal secondary structures and express the goodness of fit in terms of root mean squared deviation (RMSD, Å) for each overlay. We refer to this process as Exploring Key Orientations on Secondary structures (EKOS). Application of this procedure reveals the relative bias of a scaffold to overlay on different secondary structures, the "side-chain correspondences" (e.g. i, i + 4, i + 7 or i, i

Modelling the role of forests on water provision services: a hydro-economic valuation approach

NASA Astrophysics Data System (ADS)

Beguería, S.; Campos, P.

2015-12-01

Hydro-economic models that allow integrating the ecological, hydrological, infrastructure, economic and social aspects into a coherent, scientifically- informed framework constitute preferred tools for supporting decision making in the context of integrated water resources management. We present a case study of water regulation and provision services of forests in the Andalusia region of Spain. Our model computes the physical water flows and conducts an economic environmental income and asset valuation of forest surface and underground water yield. Based on available hydrologic and economic data, we develop a comprehensive water account for all the forest lands at the regional scale. This forest water environmental valuation is integrated within a much larger project aiming at providing a robust and easily replicable accounting tool to evaluate yearly the total income and capital of forests, encompassing all measurable sources of private and public incomes (timber and cork production, auto-consumption, recreational activities, biodiversity conservation, carbon sequestration, water production, etc.). We also force our simulation with future socio-economic scenarios to quantify the physical and economic efects of expected trends or simulated public and private policies on future water resources. Only a comprehensive integrated tool may serve as a basis for the development of integrated policies, such as those internationally agreed and recommended for the management of water resources.

7 CFR 3015.53 - Valuation of donated services.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 7 Agriculture 15 2010-01-01 2010-01-01 false Valuation of donated services. 3015.53 Section 3015.53 Agriculture Regulations of the Department of Agriculture (Continued) OFFICE OF THE CHIEF FINANCIAL OFFICER, DEPARTMENT OF AGRICULTURE UNIFORM FEDERAL ASSISTANCE REGULATIONS Cost-Sharing or Matching § 3015...

48 CFR 211.274-3 - Policy for valuation.

Code of Federal Regulations, 2011 CFR

2011-10-01

... 48 Federal Acquisition Regulations System 3 2011-10-01 2011-10-01 false Policy for valuation. 211.274-3 Section 211.274-3 Federal Acquisition Regulations System DEFENSE ACQUISITION REGULATIONS SYSTEM... unit acquisition cost of subassemblies, components, and parts embedded in delivered items need not be...

48 CFR 211.274-3 - Policy for valuation.

Code of Federal Regulations, 2012 CFR

2012-10-01

... 48 Federal Acquisition Regulations System 3 2012-10-01 2012-10-01 false Policy for valuation. 211.274-3 Section 211.274-3 Federal Acquisition Regulations System DEFENSE ACQUISITION REGULATIONS SYSTEM... unit acquisition cost of subassemblies, components, and parts embedded in delivered items need not be...

48 CFR 211.274-3 - Policy for valuation.

Code of Federal Regulations, 2010 CFR

2010-10-01

... 48 Federal Acquisition Regulations System 3 2010-10-01 2010-10-01 false Policy for valuation. 211.274-3 Section 211.274-3 Federal Acquisition Regulations System DEFENSE ACQUISITION REGULATIONS SYSTEM... unit acquisition cost of subassemblies, components, and parts embedded in delivered items need not be...

48 CFR 211.274-3 - Policy for valuation.

Code of Federal Regulations, 2013 CFR

2013-10-01

... 48 Federal Acquisition Regulations System 3 2013-10-01 2013-10-01 false Policy for valuation. 211.274-3 Section 211.274-3 Federal Acquisition Regulations System DEFENSE ACQUISITION REGULATIONS SYSTEM... unit acquisition cost of subassemblies, components, and parts embedded in delivered items need not be...

Application of Real Options Analysis in the Valuation of Investment in Biodiesel Production

DTIC Science & Technology

2011-05-01

biodiesel) at time t, P(t) be assumed to evolve as the stochastic process given by the geometric Brownian motion (GBM). Then PdWPdtdP...Equation (3) Then in any differential time interval, dt, dX follows an arithmetic Brownian motion , which under risk neutral valuation, will be given by...valuation of American put options,” Journal of Finance 32 (May), pp.449-462. 5. Brennan, M. and E. Schwartz, 1978, “Finite difference methods and

26 CFR 25.2512-6 - Valuation of certain life insurance and annuity contracts; valuation of shares in an open-end...

Code of Federal Regulations, 2010 CFR

2010-04-01

... annuity. The value of the gift is the cost of the contract. Example (2). An annuitant purchased from a... Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) ESTATE AND GIFT TAXES GIFT TAX; GIFTS MADE AFTER DECEMBER 31, 1954 Transfers § 25.2512-6 Valuation of certain life insurance and annuity...

30 CFR 1206.152 - Valuation standards-unprocessed gas.

Code of Federal Regulations, 2012 CFR

2012-07-01

... 30 Mineral Resources 3 2012-07-01 2012-07-01 false Valuation standards-unprocessed gas. 1206.152 Section 1206.152 Mineral Resources OFFICE OF NATURAL RESOURCES REVENUE, DEPARTMENT OF THE INTERIOR NATURAL... section. The notification shall be by letter to the ONRR Director for Office of Natural Resources Revenue...

30 CFR 1206.152 - Valuation standards-unprocessed gas.

Code of Federal Regulations, 2014 CFR

2014-07-01

... 30 Mineral Resources 3 2014-07-01 2014-07-01 false Valuation standards-unprocessed gas. 1206.152 Section 1206.152 Mineral Resources OFFICE OF NATURAL RESOURCES REVENUE, DEPARTMENT OF THE INTERIOR NATURAL... section. The notification shall be by letter to the ONRR Director for Office of Natural Resources Revenue...

30 CFR 1206.152 - Valuation standards-unprocessed gas.

Code of Federal Regulations, 2013 CFR

2013-07-01

... 30 Mineral Resources 3 2013-07-01 2013-07-01 false Valuation standards-unprocessed gas. 1206.152 Section 1206.152 Mineral Resources OFFICE OF NATURAL RESOURCES REVENUE, DEPARTMENT OF THE INTERIOR NATURAL... section. The notification shall be by letter to the ONRR Director for Office of Natural Resources Revenue...

26 CFR 1.471-2 - Valuation of inventories.

Code of Federal Regulations, 2010 CFR

2010-04-01

...-2 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Inventories § 1.471-2 Valuation of inventories. (a) Section 471 provides two tests...-5.) Any goods in an inventory which are unsalable at normal prices or unusable in the normal way...

76 FR 30878 - Federal Oil and Gas Valuation

Federal Register 2010, 2011, 2012, 2013, 2014

2011-05-27

... when gas is processed, in lieu of valuing residue gas and extracted liquid products separately... natural gas liquids (NGL) price similar to a ``frac spread'' or a ``processing margin.'' Certain plant... No. ONRR-2011-0005] RIN 1012-AA01 Federal Oil and Gas Valuation AGENCY: Office of Natural Resources...

Not an Inexhaustible Resource: Valuation and Depreciation of Library Collections in the Queensland Department of Education.

ERIC Educational Resources Information Center

Cram, Jennifer

1997-01-01

Anecdotal evidence suggests that valuation of library collections is not being addressed by library managers, despite the growing popularity of accrual accounting in publicly funded institutions. This article discusses the implications of asset valuation and describes the development and implementation a method for valuing the library collections…

Real options and asset valuation in competitive energy markets

NASA Astrophysics Data System (ADS)

Oduntan, Adekunle Richard

The focus of this work is to develop a robust valuation framework for physical power assets operating in competitive markets such as peaking or mid-merit thermal power plants and baseload power plants. The goal is to develop a modeling framework that can be adapted to different energy assets with different types of operating flexibilities and technical constraints and which can be employed for various purposes such as capital budgeting, business planning, risk management and strategic bidding planning among others. The valuation framework must also be able to capture the reality of power market rules and opportunities, as well as technical constraints of different assets. The modeling framework developed conceptualizes operating flexibilities of power assets as "switching options' whereby the asset operator decides at every decision point whether to switch from one operating mode to another mutually exclusive mode, within the limits of the equipment constraints of the asset. As a current decision to switch operating modes may affect future operating flexibilities of the asset and hence cash flows, a dynamic optimization framework is employed. The developed framework accounts for the uncertain nature of key value drivers by representing them with appropriate stochastic processes. Specifically, the framework developed conceptualizes the operation of a power asset as a multi-stage decision making problem where the operator has to make a decision at every stage to alter operating mode given currently available information about key value drivers. The problem is then solved dynamically by decomposing it into a series of two-stage sub-problems according to Bellman's optimality principle. The solution algorithm employed is the Least Squares Monte Carlo (LSM) method. The developed valuation framework was adapted for a gas-fired thermal power plant, a peaking hydroelectric power plant and a baseload power plant. This work built on previously published real options valuation

[Crisis in the valuation, emotional labor and occupational burnout among teachers of religion].

PubMed

Lachowska, Bogusława; Starczewski, Karol

2015-01-01

This article presents an analysis of the relationship between the crisis of values and in the valuation, the strategy of emotional labor, and occupational burnout in the group of lay teachers of religion. In addition, the role of emotional labor as a mediator of the relationship between the crisis of values and burnout was analyzed. Three strategies of emotional labor were considered in the study: surface acting, deep acting, and expression of naturally felt emotions. The study was conducted in a group of 169 lay teachers of religion (males - 24%, females - 76%), using the Questionnaire for Investigating Crisis in Valuation developed by Oleś, the Maslach Burnout Inventory, and the Emotional Labour Scale developed by Diefendorff, Croyle and Gosserand. The crisis of values and in the valuation is an important factor responsible for occupational burnout in the group of lay teachers of religion. Surface acting and expression of naturally felt emotions mediate the relationship between crisis in the valuation and emotional exhaustion, depersonalization and lack of personal accomplishment. Surface acting increases, while the expression of naturally felt emotions decreases occupational burnout. Deep acting is not related with occupational burnout. It is justified to seek factors favoring the expression of naturally felt emotions, and also those reducing surface acting. This work is available in Open Access model and licensed under a CC BY-NC 3.0 PL license.

Valuation of crop genetic resources in Kaski, Nepal: farmers' willingness to pay for rice landraces conservation.

PubMed

Poudel, Diwakar; Johnsen, Fred H

2009-01-01

Crop genetic resources constitute an important aspect of biodiversity conservation, both because of their direct value to the farmers and due to their indirect global value. This study uses the contingent valuation method to document the economic value of crop genetic resources based on the farmers' willingness to pay for conservation. A total of 107 households in Kaski, Nepal were surveyed in November 2003. Their mean willingness to pay was USD 4.18 for in situ and USD 2.20 for ex situ conservation per annum. Landholding size, household size, education level, socio-economic status, sex of respondent, number of crop landraces grown, and knowledge on biodiversity influenced the willingness to pay for in situ conservation, whereas only landholding size and household size influenced the willingness to pay for ex situ conservation. The respondents were willing to contribute more for in situ than ex situ conservation because of the additional effect of direct use and direct involvement of the farmers in in situ conservation. This study supports the view that economic valuation of crop genetic resources can assist the policy makers in setting conservation priorities.

30 CFR 1206.153 - Valuation standards-processed gas.

Code of Federal Regulations, 2012 CFR

2012-07-01

... 30 Mineral Resources 3 2012-07-01 2012-07-01 false Valuation standards-processed gas. 1206.153 Section 1206.153 Mineral Resources OFFICE OF NATURAL RESOURCES REVENUE, DEPARTMENT OF THE INTERIOR NATURAL... notification shall be by letter to the ONRR Director for Office of Natural Resources or his/her designee. The...

30 CFR 1206.153 - Valuation standards-processed gas.

Code of Federal Regulations, 2014 CFR

2014-07-01

... 30 Mineral Resources 3 2014-07-01 2014-07-01 false Valuation standards-processed gas. 1206.153 Section 1206.153 Mineral Resources OFFICE OF NATURAL RESOURCES REVENUE, DEPARTMENT OF THE INTERIOR NATURAL... notification shall be by letter to the ONRR Director for Office of Natural Resources or his/her designee. The...

30 CFR 1206.153 - Valuation standards-processed gas.

Code of Federal Regulations, 2013 CFR

2013-07-01

... 30 Mineral Resources 3 2013-07-01 2013-07-01 false Valuation standards-processed gas. 1206.153 Section 1206.153 Mineral Resources OFFICE OF NATURAL RESOURCES REVENUE, DEPARTMENT OF THE INTERIOR NATURAL... notification shall be by letter to the ONRR Director for Office of Natural Resources or his/her designee. The...

Environmental Economics for Watershed Restoration: Valuation for Non-Economists

EPA Science Inventory

EPA economists completed research projects and summarized related valuation methods and case studies, mostly dealing with acid mine drainage. Their recent book (edited by Thurston, et al.) is intended to make stakeholders more comfortable talking about economic jargon and to info...

Prospect theory in the valuation of health.

PubMed

Moffett, Maurice L; Suarez-Almazor, Maria E

2005-08-01

Prospect theory is the prominent nonexpected utility theory in the estimation of health state preference scores for quality-adjusted life year calculation. Until recently, the theory was not considered to be developed to the point of implementation in economic analysis. This review focuses on the research and evidence that tests the implementation of prospect theory into health state valuation. The typical application of expected utility theory assumes that a decision maker has stable preferences under conditions of risk and uncertainty. Under prospect theory, preferences are dependent on whether the decision maker regards the outcome of a choice as a gain or loss, relative to a reference point. The conceptual preference for standard gamble utilities in the valuation of health states has led to the development of elicitation techniques. Empirical evidence using these techniques indicates that when individual preferences are elicited, a prospect theory consistent framework appears to be necessary for adequate representation of individual health utilities. The relevance of prospect theory to policy making and resource allocation remains to be established. Societal preferences may not need the same attitudes towards risks as individual preferences, and may remain largely risk neutral.

Considerations on patent valuation based on patent classification and citation in biotechnological field

NASA Astrophysics Data System (ADS)

Mihara, Kenji

Regarding innovation measurement utilizing patent information, a number of researchers are making great efforts to measure a "patent value (patent quality)." For patent valuation, patent classification and citation are often utilized as patent information. Also, biotechnological field is attracting attention from the viewpoint of application to environmental or medical study, and considerable researches on patent valuation are ongoing in this technical field. However, it is not enough recognized that researchers cannot be too careful when they deal with classification information in the biotech field because patent classification structure in this field is not well-established. And also, it is not known enough that citation patterns of both academic papers and patent documents are so complicated that the patterns cannot be easily generalized. In this article, the issues above were verified from a position based on working experiences of biotech patent examiner at Japan Patent Office, and considerations and implications were given on what patent valuation should be.

The improved business valuation model for RFID company based on the community mining method.

PubMed

Li, Shugang; Yu, Zhaoxu

2017-01-01

Nowadays, the appetite for the investment and mergers and acquisitions (M&A) activity in RFID companies is growing rapidly. Although the huge number of papers have addressed the topic of business valuation models based on statistical methods or neural network methods, only a few are dedicated to constructing a general framework for business valuation that improves the performance with network graph (NG) and the corresponding community mining (CM) method. In this study, an NG based business valuation model is proposed, where real options approach (ROA) integrating CM method is designed to predict the company's net profit as well as estimate the company value. Three improvements are made in the proposed valuation model: Firstly, our model figures out the credibility of the node belonging to each community and clusters the network according to the evolutionary Bayesian method. Secondly, the improved bacterial foraging optimization algorithm (IBFOA) is adopted to calculate the optimized Bayesian posterior probability function. Finally, in IBFOA, bi-objective method is used to assess the accuracy of prediction, and these two objectives are combined into one objective function using a new Pareto boundary method. The proposed method returns lower forecasting error than 10 well-known forecasting models on 3 different time interval valuing tasks for the real-life simulation of RFID companies.

An Initial Design of ISO 19152:2012 LADM Based Valuation and Taxation Data Model

NASA Astrophysics Data System (ADS)

Çağdaş, V.; Kara, A.; van Oosterom, P.; Lemmen, C.; Işıkdağ, Ü.; Kathmann, R.; Stubkjær, E.

2016-10-01

A fiscal registry or database is supposed to record geometric, legal, physical, economic, and environmental characteristics in relation to property units, which are subject to immovable property valuation and taxation. Apart from procedural standards, there is no internationally accepted data standard that defines the semantics of fiscal databases. The ISO 19152:2012 Land Administration Domain Model (LADM), as an international land administration standard focuses on legal requirements, but considers out of scope specifications of external information systems including valuation and taxation databases. However, it provides a formalism which allows for an extension that responds to the fiscal requirements. This paper introduces an initial version of a LADM - Fiscal Extension Module for the specification of databases used in immovable property valuation and taxation. The extension module is designed to facilitate all stages of immovable property taxation, namely the identification of properties and taxpayers, assessment of properties through single or mass appraisal procedures, automatic generation of sales statistics, and the management of tax collection, dealing with arrears and appeals. It is expected that the initial version will be refined through further activities held by a possible joint working group under FIG Commission 7 (Cadastre and Land Management) and FIG Commission 9 (Valuation and the Management of Real Estate) in collaboration with other relevant international bodies.

The improved business valuation model for RFID company based on the community mining method

PubMed Central

Li, Shugang; Yu, Zhaoxu

2017-01-01

Nowadays, the appetite for the investment and mergers and acquisitions (M&A) activity in RFID companies is growing rapidly. Although the huge number of papers have addressed the topic of business valuation models based on statistical methods or neural network methods, only a few are dedicated to constructing a general framework for business valuation that improves the performance with network graph (NG) and the corresponding community mining (CM) method. In this study, an NG based business valuation model is proposed, where real options approach (ROA) integrating CM method is designed to predict the company’s net profit as well as estimate the company value. Three improvements are made in the proposed valuation model: Firstly, our model figures out the credibility of the node belonging to each community and clusters the network according to the evolutionary Bayesian method. Secondly, the improved bacterial foraging optimization algorithm (IBFOA) is adopted to calculate the optimized Bayesian posterior probability function. Finally, in IBFOA, bi-objective method is used to assess the accuracy of prediction, and these two objectives are combined into one objective function using a new Pareto boundary method. The proposed method returns lower forecasting error than 10 well-known forecasting models on 3 different time interval valuing tasks for the real-life simulation of RFID companies. PMID:28459815

Economic valuation for sustainable development in the Swedish coastal zone.

PubMed

Söderqvist, Tore; Eggert, Håkan; Olsson, Björn; Soutukorva, Asa

2005-03-01

The Swedish coastal zone is a scene of conflicting interests about various goods and services provided by nature. Open-access conditions and the public nature of many services increase the difficulty in resolving these conflicts. "Sustainability" is a vague but widely accepted guideline for finding reasonable trade-offs between different interests. The UN view of sustainable development suggests that coastal zone management should aim at a sustainable ecological, economic, and social-cultural development. Looking closer at economic sustainability, it is observed that economic analyses about whether changes in society imply a gain or a loss should take into account the economic value of the environment. Methods used for making such economic valuation in the context of the Swedish coastal zone are briefly reviewed. It is noted that the property rights context matters for the results of a valuation study. This general background is followed by a concise presentation of the design and results of four valuation studies on Swedish coastal zone issues. One study is on the economic value of an improved bathing water quality in the Stockholm archipelago. The other studies are a travel cost study about the economic value of improved recreational fisheries in the Stockholm archipelago, a replacement cost study on the value of restoring habitats for sea trout, and a choice experiment study on the economic value of improved water quality along the Swedish westcoast.

26 CFR 25.2512-3 - Valuation of interest in businesses.

Code of Federal Regulations, 2010 CFR

2010-04-01

... AND GIFT TAXES GIFT TAX; GIFTS MADE AFTER DECEMBER 31, 1954 Transfers § 25.2512-3 Valuation of... with the return, including copies of reports of examinations of the business made by accountants...

The valuation of health care intangible assets.

PubMed

Reilly, R F; Rabe, J R

1997-01-01

Health care entities (and especially medical practices) are valued for a number of reasons: sale transaction pricing and structuring, merger formation and dissolution, taxation and regulatory compliance, and litigation support and dispute resolution. The identification and quantification of the entity's intangible assets are often the most important aspects of the valuation. This article illustrates the generally accepted methods for valuing health care-related intangible assets.

A framework for the social valuation of ecosystem services.

PubMed

Felipe-Lucia, María R; Comín, Francisco A; Escalera-Reyes, Javier

2015-05-01

Methods to assess ecosystem services using ecological or economic approaches are considerably better defined than methods for the social approach. To identify why the social approach remains unclear, we reviewed current trends in the literature. We found two main reasons: (i) the cultural ecosystem services are usually used to represent the whole social approach, and (ii) the economic valuation based on social preferences is typically included in the social approach. Next, we proposed a framework for the social valuation of ecosystem services that provides alternatives to economics methods, enables comparison across studies, and supports decision-making in land planning and management. The framework includes the agreements emerged from the review, such as considering spatial-temporal flows, including stakeholders from all social ranges, and using two complementary methods to value ecosystem services. Finally, we provided practical recommendations learned from the application of the proposed framework in a case study.

Analysis of the uncertainty in the monetary valuation of ecosystem services--A case study at the river basin scale.

PubMed

Boithias, Laurie; Terrado, Marta; Corominas, Lluís; Ziv, Guy; Kumar, Vikas; Marqués, Montse; Schuhmacher, Marta; Acuña, Vicenç

2016-02-01

Ecosystem services provide multiple benefits to human wellbeing and are increasingly considered by policy-makers in environmental management. However, the uncertainty related with the monetary valuation of these benefits is not yet adequately defined or integrated by policy-makers. Given this background, our aim was to quantify different sources of uncertainty when performing monetary valuation of ecosystem services, in order to provide a series of guidelines to reduce them. With an example of 4 ecosystem services (i.e., water provisioning, waste treatment, erosion protection, and habitat for species) provided at the river basin scale, we quantified the uncertainty associated with the following sources: (1) the number of services considered, (2) the number of benefits considered for each service, (3) the valuation metrics (i.e. valuation methods) used to value benefits, and (4) the uncertainty of the parameters included in the valuation metrics. Results indicate that the highest uncertainty was caused by the number of services considered, as well as by the number of benefits considered for each service, whereas the parametric uncertainty was similar to the one related to the selection of valuation metric, thus suggesting that the parametric uncertainty, which is the only uncertainty type commonly considered, was less critical than the structural uncertainty, which is in turn mainly dependent on the decision-making context. Given the uncertainty associated to the valuation structure, special attention should be given to the selection of services, benefits and metrics according to a given context. Copyright © 2015 Elsevier B.V. All rights reserved.

26 CFR 20.2031-3 - Valuation of interests in businesses.

Code of Federal Regulations, 2012 CFR

2012-04-01

... individual or a corporation, would pay for the interest to a willing seller, neither being under any... § 20.2031-2 relating to the valuation of corporate stock, to the extent applicable. Special attention...

26 CFR 20.2031-3 - Valuation of interests in businesses.

Code of Federal Regulations, 2014 CFR

2014-04-01

... individual or a corporation, would pay for the interest to a willing seller, neither being under any... § 20.2031-2 relating to the valuation of corporate stock, to the extent applicable. Special attention...

26 CFR 20.2031-3 - Valuation of interests in businesses.

Code of Federal Regulations, 2011 CFR

2011-04-01

... individual or a corporation, would pay for the interest to a willing seller, neither being under any... § 20.2031-2 relating to the valuation of corporate stock, to the extent applicable. Special attention...

26 CFR 20.2031-3 - Valuation of interests in businesses.

Code of Federal Regulations, 2013 CFR

2013-04-01

... individual or a corporation, would pay for the interest to a willing seller, neither being under any... § 20.2031-2 relating to the valuation of corporate stock, to the extent applicable. Special attention...

Valuation of preference-based measures: can existing preference data be used to generate better estimates?

PubMed

Kharroubi, Samer A

2018-06-05

Experimental studies to develop valuations of health state descriptive systems like EQ-5D or SF-6D need to be conducted in different countries, because social and cultural differences are likely to lead to systematically different valuations. There is a scope utilize the evidence in one country to help with the design and the analysis of a study in another, for this to enable the generation of utility estimates of the second country much more precisely than would have been possible when collecting and analyzing the country's data alone. We analyze SF-6D valuation data elicited from representative samples corresponding to the Hong Kong (HK) and United Kingdom (UK) general adult populations through the use of the standard gamble technique to value 197 and 249 health states respectively. We apply a nonparametric Bayesian model to estimate a HK value set using the UK dataset as informative prior to improve its estimation. Estimates are compared to a HK value set estimated using HK values alone using mean predictions and root mean square error. The novel method of modelling utility functions permitted the UK valuations to contribute significant prior information to the Hong Kong analysis. The results suggest that using HK data alongside the existing UK data produces HK utility estimates better than using the HK study data by itself. The promising results suggest that existing preference data could be combined with valuation study in a new country to generate preference weights, making own country value sets more achievable for low and middle income countries. Further research is encouraged.

78 FR 68089 - Proposed Information Collection; Visibility Valuation Survey

Federal Register 2010, 2011, 2012, 2013, 2014

2013-11-13

... DEPARTMENT OF INTERIOR National Park Service [NPS-WASO-NRSS-SSD-14447; PPWONRADA0, PPMRSNR1Y.NA0000] Proposed Information Collection; Visibility Valuation Survey AGENCY: National Park Service, Interior. ACTION: Notice; request for comments. SUMMARY: We (National Park Service) will ask the Office of...

29 CFR 4281.17 - Asset valuation methods-in general.

Code of Federal Regulations, 2010 CFR

2010-07-01

... 29 Labor 9 2010-07-01 2010-07-01 false Asset valuation methods-in general. 4281.17 Section 4281.17 Labor Regulations Relating to Labor (Continued) PENSION BENEFIT GUARANTY CORPORATION INSOLVENCY, REORGANIZATION, TERMINATION, AND OTHER RULES APPLICABLE TO MULTIEMPLOYER PLANS DUTIES OF PLAN SPONSOR FOLLOWING...

29 CFR 4281.13 - Benefit valuation methods-in general.

Code of Federal Regulations, 2010 CFR

2010-07-01

... 29 Labor 9 2010-07-01 2010-07-01 false Benefit valuation methods-in general. 4281.13 Section 4281.13 Labor Regulations Relating to Labor (Continued) PENSION BENEFIT GUARANTY CORPORATION INSOLVENCY, REORGANIZATION, TERMINATION, AND OTHER RULES APPLICABLE TO MULTIEMPLOYER PLANS DUTIES OF PLAN SPONSOR FOLLOWING...

A test of concordance between patient and psychiatrist valuations of multiple treatment goals for schizophrenia

PubMed Central

Bridges, John F. P.; Slawik, Lara; Schmeding, Annette; Reimer, Jens; Naber, Dieter; Kuhnigk, Olaf

2011-01-01

Abstract Background  While much discussion has been placed on the problem of poor compliance in the treatment of schizophrenia, there has been little discussion on the concordance between patients and psychiatrists, an important contributing factor to patient‐centred care. Objective  To estimate the concordance between patients’ and psychiatrists’ (ordinal and cardinal) valuations of multiple goals for schizophrenia treatment and to illustrate the utility of the self‐explicated method in valuing a large number of treatment goals. Design  Twenty treatment goals were identified during focus groups and literature review and were presented to patients and psychiatrists during structured interviews. Respondents were asked to rank the multiple treatment goals and rate them on a 5‐point Likert scale. Three scores were calculated based on the ranking (1–20), rating (Likert scale) (1–5) and a self‐explicated method estimated as the product of rating and ranking score (1–100). Concordance was tested using Spearman’s rho for overall ordinal rankings and via anova and F‐test for the cardinal values assigned to a specific treatment goal. Participants  A total of 105 outpatients diagnosed with schizophrenia and 160 psychiatrists in Germany. Results  Patient and psychiatrist values were concordant when the ordinal properties of their valuations were assessed by rating (ρ = 0.63; P = 0.002), ranking (ρ = 0.51; P = 0.02) and self‐explicated methods (ρ = 0.54; P = 0.01). Significant discordances were found when comparing the cardinal value placed on any given treatment goal using all three approaches, but the self‐explicated method produced a more discerning statistic. Relative to patients, psychiatrists significantly (P < 0.05) overvalued reduced lack of emotion, improved sexual pleasure and improved communication while undervaluing reuptake of activities of daily living, improved satisfaction and recovered capacity

Study on the techniques of valuation of ecosystem services based on remote sensing in Anxin County

NASA Astrophysics Data System (ADS)

Wang, Hongyan; Li, Zengyuan; Gao, Zhihai; Wang, Bengyu; Bai, Lina; Wu, Junjun; Sun, Bin; Wang, Zhibo

2014-05-01

The farmland ecosystem is an important component of terrestrial ecosystems and has a fundamental role in the human life. The wetland is an unique and versatile ecological system. It is important for rational development and sustainable utilization of farmland and wetland resources to study on the measurement of valuation of farmland and wetland ecosystem services. It also has important significance for improving productivity. With the rapid development of remote sensing technology, it has become a powerful tool for evaluation of the value of ecosystem services. The land cover types in Anxin County mainly was farmland and wetland, the indicator system for ecosystem services valuation was brought up based on the remote sensing data of high spatial resolution ratio(Landsat-5 TM data and SPOT-5 data), the technology system for measurement of ecosystem services value was established. The study results show that the total ecosystem services value in 2009 in Anxin was 4.216 billion yuan, and the unit area value was between 8489 yuan/hm2 and 329535 yuan/hm2. The value of natural resources, water conservation value in farmland ecosystem and eco-tourism value in wetland ecosystem were higher than the other, total of the three values reached 2.858 billion yuan, and the percentage of the total ecosystem services values in Anxin was 67.79%. Through the statistics in the nine towns and three villages of Anxin County, the juantou town has the highest services value, reached 0.736 billion yuan. Scientific and comprehensive evaluation of the ecosystem services can conducive to promoting the understanding of the importance of the ecosystem. The research results had significance to ensure the sustainable use of wetland resources and the guidance of ecological construction in Anxin County.

“Tell me I’m sexy…and otherwise valuable:” Body Valuation and Relationship Satisfaction

PubMed Central

Meltzer, Andrea L.; McNulty, James K.

2013-01-01

Although extant research demonstrates that body valuation by strangers has negative implications for women, Studies 1 and 2 demonstrate that body valuation by a committed male partner is positively associated with women’s relationship satisfaction when that partner also values them for their non-physical qualities, but negatively associated with women’s relationship satisfaction when that partner is not committed or does not value them for their non-physical qualities. Study 3 demonstrates that body valuation by a committed female partner is negatively associated with men’s relationship satisfaction when that partner does not also value them for their non-physical qualities but unassociated with men’s satisfaction otherwise. These findings join others demonstrating that fully understanding the implications of interpersonal processes requires considering the interpersonal context. (120 words) PMID:24683309

Formulaic expert method to integrate evaluation and valuation of heritage trees in compact city.

PubMed

Jim, C Y

2006-05-01

Urban trees serve important environmental, social and economic functions, but similar to other natural endowments they are not customarily depicted in monetary terms. The needs to augment protection, funding and community support for urban greening call for proper valuation. Heritage trees (HTs), the cream of urban-tree stock, deserve special attention. Existing assessment methods do not give justice to outstanding trees in compact cities deficient in high-caliber greenery, and to their social-cultural-historical importance. They artificially separate evaluation from valuation, which should be a natural progression from the former. Review of tree valuation methods suggested the formula approach to be more suitable than contingent valuation and hedonic pricing, and provided hints on their strengths and weaknesses. This study develops an alternative formulaic expert method (FEM) that integrates evaluation and valuation, maximizes objectivity, broadly encompasses the key tree, tree-environment and tree-human traits, and accords realistic monetary value to HTs. Six primary criteria (dimension, species, tree, condition, location, and outstanding consideration) branched into 45 secondary criteria, each allocated numerical marks. Each primary criterion was standardized to carry equal weight, and a tree's maximum aggregate score is capped at 100. A Monetary Assignment Factor (MAF) to consign dollar value to each score unit was derived from three-year average per m(2) sale price of medium-sized residential flats. The applicability of FEM was tested on selected HTs in compact Hong Kong. The aggregate score of a tree multiplied by MAF yielded monetary value, which was on average 66 times higher than the result from the commonly-adopted Council of Tree and Landscape Appraisers method. The computed tree values could be publicized together with multiple tree benefits to raise understanding and awareness and rally support to protect HTs. The property-linked FEM could be flexibly

30 CFR 210.154 - What documents or other information must I submit for Federal oil valuation purposes?

Code of Federal Regulations, 2010 CFR

2010-07-01

... and Reports-Oil, Gas, and Geothermal Resources § 210.154 What documents or other information must I submit for Federal oil valuation purposes? (a) General. The MMS may require you to submit documents or... submit for Federal oil valuation purposes? 210.154 Section 210.154 Mineral Resources MINERALS MANAGEMENT...

31 CFR 223.9 - Valuation of assets and liabilities.

Code of Federal Regulations, 2010 CFR

2010-07-01

... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false Valuation of assets and liabilities. 223.9 Section 223.9 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) FISCAL SERVICE, DEPARTMENT OF THE TREASURY FINANCIAL MANAGEMENT SERVICE SURETY COMPANIES DOING BUSINESS...

31 CFR 223.9 - Valuation of assets and liabilities.

Code of Federal Regulations, 2013 CFR

2013-07-01

... 31 Money and Finance:Treasury 2 2013-07-01 2013-07-01 false Valuation of assets and liabilities. 223.9 Section 223.9 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) FISCAL SERVICE, DEPARTMENT OF THE TREASURY FINANCIAL MANAGEMENT SERVICE SURETY COMPANIES DOING BUSINESS...

31 CFR 223.9 - Valuation of assets and liabilities.

Code of Federal Regulations, 2011 CFR

2011-07-01

... 31 Money and Finance:Treasury 2 2011-07-01 2011-07-01 false Valuation of assets and liabilities. 223.9 Section 223.9 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) FISCAL SERVICE, DEPARTMENT OF THE TREASURY FINANCIAL MANAGEMENT SERVICE SURETY COMPANIES DOING BUSINESS...

31 CFR 223.9 - Valuation of assets and liabilities.

Code of Federal Regulations, 2012 CFR

2012-07-01

... 31 Money and Finance:Treasury 2 2012-07-01 2012-07-01 false Valuation of assets and liabilities. 223.9 Section 223.9 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) FISCAL SERVICE, DEPARTMENT OF THE TREASURY FINANCIAL MANAGEMENT SERVICE SURETY COMPANIES DOING BUSINESS...

Instream flow assessment and economic valuation: a survey of nonmarket benefits research

USGS Publications Warehouse

Douglas, Aaron J.; Johnson, Richard L.

1993-01-01

Instream flow benefits for United States streams and rivers have recently been investigated by a number of resource economists. These valuation efforts differ in scope, method, and quantitative results. An assessment and review of these valuation efforts is presented. The various sources of differences in non‐market values produced by these studies are explored in some detail. The considerable difficulty of producing estimates of instream flow benefits values that consider all of the pertinent policy and technical issues is delineated in various policy contexts. Evidence is presented that indicates that the considerable policy impact of recent research on this topic is justified despite considerable variation in the magnitude of the estimates.

Reconsidering the use of rankings in the valuation of health states: a model for estimating cardinal values from ordinal data

PubMed Central

Salomon, Joshua A

2003-01-01

Background In survey studies on health-state valuations, ordinal ranking exercises often are used as precursors to other elicitation methods such as the time trade-off (TTO) or standard gamble, but the ranking data have not been used in deriving cardinal valuations. This study reconsiders the role of ordinal ranks in valuing health and introduces a new approach to estimate interval-scaled valuations based on aggregate ranking data. Methods Analyses were undertaken on data from a previously published general population survey study in the United Kingdom that included rankings and TTO values for hypothetical states described using the EQ-5D classification system. The EQ-5D includes five domains (mobility, self-care, usual activities, pain/discomfort and anxiety/depression) with three possible levels on each. Rank data were analysed using a random utility model, operationalized through conditional logit regression. In the statistical model, probabilities of observed rankings were related to the latent utilities of different health states, modeled as a linear function of EQ-5D domain scores, as in previously reported EQ-5D valuation functions. Predicted valuations based on the conditional logit model were compared to observed TTO values for the 42 states in the study and to predictions based on a model estimated directly from the TTO values. Models were evaluated using the intraclass correlation coefficient (ICC) between predictions and mean observations, and the root mean squared error of predictions at the individual level. Results Agreement between predicted valuations from the rank model and observed TTO values was very high, with an ICC of 0.97, only marginally lower than for predictions based on the model estimated directly from TTO values (ICC = 0.99). Individual-level errors were also comparable in the two models, with root mean squared errors of 0.503 and 0.496 for the rank-based and TTO-based predictions, respectively. Conclusions Modeling health

Workshop: Using Contingent Valuation to Measure Non-Market Values (1994)

EPA Pesticide Factsheets

Workshop co-hosted by USEPA and Dept of Energy on using contingent valuation to measure non-market values for improvement in health and the environment. Includes transcripts of presentations and discussion by attendees, later published as a book.

Evaluating minimalist mimics by exploring key orientations on secondary structures (EKOS)☟

PubMed Central

Xin, Dongyue; Ko, Eunhwa; Perez, Lisa M.; Ioerger, Thomas R.; Burgess, Kevin

2013-01-01

Peptide mimics that display amino acid side-chains on semi-rigid scaffolds (not peptide polyamides) can be referred to as minimalist mimics. Accessible conformations of these scaffolds may overlay with secondary structures giving, for example, “minimalist helical mimics”. It is difficult for researchers who want to apply minimalist mimics to decide which one to use because there is no widely accepted protocol for calibrating how closely these compounds mimic secondary structures. Moreover, it is also difficult for potential practitioners to evaluate which ideal minimalist helical mimics are preferred for a particular set of side-chains. For instance, what mimic presents i, i+4, i+7 side-chains in orientations that best resemble an ideal α-helix, and is a different mimic required for a i, i+3, i+7 helical combination? This article describes a protocol for fitting each member of an array of accessible scaffold conformations on secondary structures. The protocol involves: (i) use quenched molecular dynamics (QMD) to generate an ensemble consisting of hundreds of accessible, low energy conformers of the mimics; (ii) representation of each of these as a set of Cα and Cβ coordinates corresponding to three amino acid side-chains displayed by the scaffolds;(iii) similar representation of each combination of three side-chains in each ideal secondary structure as a set of Cα and Cβ coordinates corresponding to three amino acid side-chains displayed by the scaffolds; and, (iv) overlay Cα and Cβ coordinates of all the conformers on all the sets of side-chain “triads” in the ideal secondary structures and express the goodness of fit in terms of root mean squared deviation (RMSD, Å) for each overlay. We refer to this process as Exploring Key Orientations on Secondary structures (EKOS). Application of this procedure reveals the relative bias of a scaffold to overlay on different secondary structures, the “side-chain correspondences” (eg i, i+4, i+7 or i, i+3

Altered subjective reward valuation among drug-deprived heavy marijuana users: Aversion to uncertainty

PubMed Central

Hefner, Kathryn R.; Starr, Mark. J.; Curtin, John. J.

2015-01-01

Marijuana is the most commonly used illicit drug in the United States and its use is rising. Nonetheless, scientific efforts to clarify the risk for addiction and other harm associated with marijuana use have been lacking. Maladaptive decision-making is a cardinal feature of addiction that is likely to emerge in heavy users. In particular, distorted subjective reward valuation related to homeostatic or allostatic processes has been implicated for many drugs of abuse. Selective changes in responses to uncertainty have been observed in response to intoxication and deprivation from various drugs of abuse. To assess for these potential neuroadaptive changes in reward valuation associated with marijuana deprivation, we examined the subjective value of uncertain and certain rewards among deprived and non-deprived heavy marijuana users in a behavioral economics decision-making task. Deprived users displayed reduced valuation of uncertain rewards, particularly when these rewards were more objectively valuable. This uncertainty aversion increased with increasing quantity of marijuana use. These results suggest comparable decision-making vulnerability from marijuana use as other drugs of abuse, and highlights targets for intervention. PMID:26595464

Fuzzy net present valuation based on risk assessment of Malaysian infrastructure

NASA Astrophysics Data System (ADS)

Shaffie, Siti Salihah; Jaaman, Saiful Hafizah; Mohamad, Daud

2017-04-01

In recent years, built-operate-transfer (BOT) projects have profoundly been accepted under project financing for infrastructure developments in many countries. It requires high financing and involves complex mutual risk. The assessment of the risks is vital to avert huge financial loss. Net present value is widely applied to BOT project where the uncertainties in cash flows are deemed to be deterministic values. This study proposed a fuzzy net present value model taking consideration the assessment of risks from the BOT project. The proposed model is adopted to provide more flexible net present valuation of the project. It is shown and proven that the improved fuzzy cash flow model will provide a valuation that is closed to the real value of the project.

31 CFR 223.9 - Valuation of assets and liabilities.

Code of Federal Regulations, 2014 CFR

2014-07-01

... 31 Money and Finance: Treasury 2 2014-07-01 2014-07-01 false Valuation of assets and liabilities. 223.9 Section 223.9 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) FISCAL SERVICE, DEPARTMENT OF THE TREASURY BUREAU OF THE FISCAL SERVICE SURETY COMPANIES DOING BUSINESS...

17 CFR 210.12-09 - Valuation and qualifying accounts.

Code of Federal Regulations, 2010 CFR

2010-04-01

... period Column C—Additions (1)—Charged to costs and expenses (2)—Charged to other accounts—describe Column... qualifying accounts and reserves by descriptive title. Group (a) those valuation and qualifying accounts... accounts. 210.12-09 Section 210.12-09 Commodity and Securities Exchanges SECURITIES AND EXCHANGE COMMISSION...

"Gaining or losing": The importance of the perspective in primary care health services valuation.

PubMed

Martín-Fernández, Jesús; Ariza-Cardiel, Gloria; Peña-Longobardo, Luz Mª; Polentinos-Castro, Elena; Oliva-Moreno, Juan; Gil-Lacruz, Ana Isabel; Medina-Palomino, Héctor; Del Cura-González, Isabel

2017-01-01

Economic theory classifies an intervention as socially beneficial if the total Willingness to Pay (WTP) of those who gain exceeds the total Willingness to accept (WTA) of those who are harmed. This paper examines the differences in health system users' valuation of a health care service in primary care setting based on the WTP and WTA perspectives, discussing the impact of personal and service variables, including risk attitudes, on these disparities. Six hundred and sixty two subjects who asked for care in health centres in the Region of Madrid (Spain) were interviewed, using the contingent valuation method to estimate WTP and WTA. Patient sociodemographic characteristics, health needs, satisfaction with the service and risk attitude and behaviour under risk (measured by self-reported scales and lottery games respectively) were collected. Generalised Linear Models were used to estimate the association between the explanatory variables and the WTA/WTP ratio. We obtained the WTA/WTP ratio for 570 subjects (mean 1.66 CI 95%: 1.53-1.79; median 1, interquartile range 1-2). People with higher education or in high social groups expressed WTA values closest to WTP. The opposite occurred in patients with the greatest health needs or who were born abroad. Self-reported expression of risk aversion appeared also related to increases in the WTA/WTP ratio. Satisfaction with the service evaluated was the most influential factor in the WTA/WTP ratio. Health need, difficulty in obtaining substitutes and satisfaction with the service could serve for profiling people averse to loss for health care services in primary care setting. Self-reported expression of risk aversion could also be related to increases in the WTA/WTP ratio. This would mean that these characteristics should be taken into account both in the design and implementation of new healthcare interventions, as in the making decision for disinvestment.

A pseudo-sequential choice model for valuing multi-attribute environmental policies or programs in contingent valuation applications

Treesearch

Dmitriy Volinskiy; John C Bergstrom; Christopher M Cornwell; Thomas P Holmes

2010-01-01

The assumption of independence of irrelevant alternatives in a sequential contingent valuation format should be questioned. Statistically, most valuation studies treat nonindependence as a consequence of unobserved individual effects. Another approach is to consider an inferential process in which any particular choice is part of a general choosing strategy of a survey...

Survey Response-Related Biases in Contingent Valuation: Concepts, Remedies, and Empirical Application to Valuing Aquatic Plant Management

Treesearch

Mark L. Messonnier; John C. Bergstrom; Chrisopher M. Cornwell; R. Jeff Teasley; H. Ken Cordell

2000-01-01

Simple nonresponse and selection biases that may occur in survey research such as contingent valuation applications are discussed and tested. Correction mechanisms for these types of biases are demonstrated. Results indicate the importance of testing and correcting for unit and item nonresponse bias in contingent valuation survey data. When sample nonresponse and...

MORTALITY RISK VALUATION AND STATED PREFERENCE METHODS: AN EXPLORATORY STUDY

EPA Science Inventory

The purposes of this project are: (1) to improve understanding of cognitive processes involved in the valuation of mortality risk reductions that occur in an environmental pollution context, and (2) to translate this understanding into survey language appropriate for future stat...

26 CFR 20.6324B-1 - Special lien for additional estate tax attributable to farm, etc., valuation.

Code of Federal Regulations, 2010 CFR

2010-04-01

... attributable to farm, etc., valuation. 20.6324B-1 Section 20.6324B-1 Internal Revenue INTERNAL REVENUE SERVICE... attributable to farm, etc., valuation. (a) General rule. In the case of an estate of a decedent dying after December 31, 1976, which includes any interest in qualified real property, if the executor elects to value...

26 CFR 1.475(a)-4 - Valuation safe harbor.

Code of Federal Regulations, 2014 CFR

2014-04-01

... may or may not be subject to mark-to-market accounting under section 475. (c) Eligible taxpayer. An... standard that arrives at fair value in accordance with U.S. Generally Accepted Accounting Principles (U.S.... (iii) Accounting for costs and risks. Valuations may account for appropriate costs and risks, but no...

Implicit Valuation of the Near-Miss is Dependent on Outcome Context.

PubMed

Banks, Parker J; Tata, Matthew S; Bennett, Patrick J; Sekuler, Allison B; Gruber, Aaron J

2018-03-01

Gambling studies have described a "near-miss effect" wherein the experience of almost winning increases gambling persistence. The near-miss has been proposed to inflate the value of preceding actions through its perceptual similarity to wins. We demonstrate here, however, that it acts as a conditioned stimulus to positively or negatively influence valuation, dependent on reward expectation and cognitive engagement. When subjects are asked to choose between two simulated slot machines, near-misses increase valuation of machines with a low payout rate, whereas they decrease valuation of high payout machines. This contextual effect impairs decisions and persists regardless of manipulations to outcome feedback or financial incentive provided for good performance. It is consistent with proposals that near-misses cause frustration when wins are expected, and we propose that it increases choice stochasticity and overrides avoidance of low-valued options. Intriguingly, the near-miss effect disappears when subjects are required to explicitly value machines by placing bets, rather than choosing between them. We propose that this task increases cognitive engagement and recruits participation of brain regions involved in cognitive processing, causing inhibition of otherwise dominant systems of decision-making. Our results reveal that only implicit, rather than explicit strategies of decision-making are affected by near-misses, and that the brain can fluidly shift between these strategies according to task demands.

Mathematically gifted adolescents have deficiencies in social valuation and mentalization.

PubMed

Yun, Kyongsik; Chung, Dongil; Jang, Bosun; Kim, Jin Ho; Jeong, Jaeseung

2011-04-04

Many mathematically gifted adolescents are characterized as being indolent, underachieving and unsuccessful despite their high cognitive ability. This is often due to difficulties with social and emotional development. However, research on social and emotional interactions in gifted adolescents has been limited. The purpose of this study was to observe differences in complex social strategic behaviors between gifted and average adolescents of the same age using the repeated Ultimatum Game. Twenty-two gifted adolescents and 24 average adolescents participated in the Ultimatum Game. Two adolescents participate in the game, one as a proposer and the other as a responder. Because of its simplicity, the Ultimatum Game is an apt tool for investigating complex human emotional and cognitive decision-making in an empirical setting. We observed strategic but socially impaired offers from gifted proposers and lower acceptance rates from gifted responders, resulting in lower total earnings in the Ultimatum Game. Thus, our results indicate that mathematically gifted adolescents have deficiencies in social valuation and mentalization.

Economic Valuation of Mortality Risk Reduction - Volumes 1 and 2 (2004)

EPA Pesticide Factsheets

Reports prepared on economic valuation of mortality risk reduction using information collected from sstated preference surveys of individuals, as well as using information on revealed behavior from safety expenditures in context of automobile purchases.

Extended benefit cost analysis as an instrument of economic valuated in Petungkriyono forest ecosystem services

NASA Astrophysics Data System (ADS)

Damayanti, Irma; Nur Bambang, Azis; Retnaningsih Soeprobowati, Tri

2018-05-01

Petungkriyono is the last tropical forest in Java and provides biodiversity including rare flora and fauna that must be maintained, managed and utilized in order to give meaning for humanity and sustainability. Services of Forest Ecosystem in Petungkriyono are included such as goods supply, soil-water conservation, climate regulation, purification environment and flora fauna habitats. The approach of this study is the literature review from various studies before perceiving the influenced of economic valuation in determining the measurement conservation strategies of Petungkriyono Natural Forest Ecosystem in Pekalongan Regency. The aims of this study are to analyzing an extended benefit cost of natural forest ecosystems and internalizing them in decision making. The method of quantification and valuation of forest ecosystem is Cost and Benefit Analysis (CBA) which is a standard economic appraisal tools government in development economics. CBA offers the possibility capturing impact of the project. By using productivity subtitution value and extended benefit cost analysis any comodity such as Backwoods,Pine Woods, Puspa woods and Pine Gum. Water value, preventive buildings of landslide and carbon sequestration have total economic value of IDR.163.065.858.080, and the value of Extended Benefit Cost Ratio in Petungkriyono is 281.35 %. However, from the result is expected the local government of Pekalongan to have high motivation in preserve the existence of Petungkriyono forest.

Valuation of imaging centers: alternative methods and detailed description of the discounted cash flow approach.

PubMed

Russell, Philip J

2007-01-01

Medical imaging centers are an increasingly integral part of the medical services landscape in America. There are many instances in which owners and potential buyers of these enterprises want to ascertain the value of the businesses. There is an industry of professionals who provide expert valuation services for many types of businesses using various recognized alternative methods, some of which are more appropriate than others when valuing an imaging center. The federal government has prescribed parameters for all valuations if they lead to transactions in which fair market value is mandated, and it also expects transactions to adhere to more generalized laws relating to entities that provide services to Medicare patients. Radiologists who own, or who are contemplating ownership of, imaging center operations need to understand the principles of valuation, specifically the factors that are involved in a discounted cash flow determination of fair market value.

Does the Valuation of Nutritional Claims Differ among Consumers? Insights from Spain.

PubMed

Jurado, Francesc; Gracia, Azucena

2017-02-13

The presence in the market of food products with nutritional claims is increasing. The objective of this paper is to assess consumers' valuation of some nutritional claims ('high in fiber' and 'reduced saturated fat') in a European country and to test for differences among consumers. An artefactual non-hypothetical experiment was carried out in a realistic setting (mock/real brick-and-mortar supermarket) with a sample of 121 Spanish consumers stratified by gender, age, and body mass index. A latent class model was specified and estimated with the data from the experiment. Results indicate that consumers positively valued both nutritional claims, but the valuation was heterogeneous, and three consumer segments were detected. Two of them positively valued both nutritional claims (named 'nutritional claim seekers'), while the third segment's valuation was negative (named 'nutritional claim avoiders'). This last segment is characterized by being younger males with university studies who give the least importance to health, natural ingredients, and the calorie/sugar/fat content when shopping. They pay less attention to nutritional information, and they stated that they use this information to a lesser extent. These consumers showed the least interest in healthy eating, and they reported that they do not have health problems related to their diet.

Does the Valuation of Nutritional Claims Differ among Consumers? Insights from Spain

PubMed Central

Jurado, Francesc; Gracia, Azucena

2017-01-01

The presence in the market of food products with nutritional claims is increasing. The objective of this paper is to assess consumers’ valuation of some nutritional claims (‘high in fiber’ and ‘reduced saturated fat’) in a European country and to test for differences among consumers. An artefactual non-hypothetical experiment was carried out in a realistic setting (mock/real brick-and-mortar supermarket) with a sample of 121 Spanish consumers stratified by gender, age, and body mass index. A latent class model was specified and estimated with the data from the experiment. Results indicate that consumers positively valued both nutritional claims, but the valuation was heterogeneous, and three consumer segments were detected. Two of them positively valued both nutritional claims (named ‘nutritional claim seekers’), while the third segment’s valuation was negative (named ‘nutritional claim avoiders’). This last segment is characterized by being younger males with university studies who give the least importance to health, natural ingredients, and the calorie/sugar/fat content when shopping. They pay less attention to nutritional information, and they stated that they use this information to a lesser extent. These consumers showed the least interest in healthy eating, and they reported that they do not have health problems related to their diet. PMID:28208811

Congruence or Discrepancy? Comparing Patients' Health Valuations and Physicians' Treatment Goals for Rehabilitation for Patients with Chronic Conditions

ERIC Educational Resources Information Center

Nagl, Michaela; Farin, Erik

2012-01-01

The aim of this study was to test the congruence of patients' health valuations and physicians' treatment goals for the rehabilitation of chronically ill patients. In addition, patient characteristics associated with greater or less congruence were to be determined. In a questionnaire study, patients' health valuations and physicians' goals were…

Is economic valuation of ecosystem services useful to decision-makers? Lessons learned from Australian coastal and marine management.

PubMed

Marre, Jean-Baptiste; Thébaud, Olivier; Pascoe, Sean; Jennings, Sarah; Boncoeur, Jean; Coglan, Louisa

2016-08-01

Economic valuation of ecosystem services is widely advocated as being useful to support ecosystem management decision-making. However, the extent to which it is actually used or considered useful in decision-making is poorly documented. This literature blindspot is explored with an application to coastal and marine ecosystems management in Australia. Based on a nation-wide survey of eighty-eight decision-makers representing a diversity of management organizations, the perceived usefulness and level of use of economic valuation of ecosystem services, in support of coastal and marine management, are examined. A large majority of decision-makers are found to be familiar with economic valuation and consider it useful - even necessary - in decision-making, although this varies across groups of decision-makers. However, most decision-makers never or rarely use economic valuation. The perceived level of importance and trust in estimated dollar values differ across ecosystem services, and are especially high for values that relate to commercial activities. A number of factors are also found to influence respondent's use of economic valuation. Such findings concur with conclusions from other studies on the usefulness and use of ESV in environmental management decision-making. They also demonstrate the strength of the survey-based approach developed in this application to examine this issue in a variety of contexts. Copyright © 2016 Elsevier Ltd. All rights reserved.

26 CFR 25.2702-1 - Special valuation rules in the case of transfers of interests in trust.

Code of Federal Regulations, 2010 CFR

2010-04-01

... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Special valuation rules in the case of transfers of interests in trust. 25.2702-1 Section 25.2702-1 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) ESTATE AND GIFT TAXES GIFT TAX; GIFTS MADE AFTER DECEMBER 31, 1954 Special Valuation Rules § 25.2702-1 Special...

A Comparison of Japan and U.K. SF-6D Health-State Valuations Using a Non-Parametric Bayesian Method.

PubMed

Kharroubi, Samer A

2015-08-01

There is interest in the extent to which valuations of health may differ between different countries and cultures, but few studies have compared preference values of health states obtained in different countries. We sought to estimate and compare two directly elicited valuations for SF-6D health states between the Japan and U.K. general adult populations using Bayesian methods. We analysed data from two SF-6D valuation studies where, using similar standard gamble protocols, values for 241 and 249 states were elicited from representative samples of the Japan and U.K. general adult populations, respectively. We estimate a function applicable across both countries that explicitly accounts for the differences between them, and is estimated using data from both countries. The results suggest that differences in SF-6D health-state valuations between the Japan and U.K. general populations are potentially important. The magnitude of these country-specific differences in health-state valuation depended, however, in a complex way on the levels of individual dimensions. The new Bayesian non-parametric method is a powerful approach for analysing data from multiple nationalities or ethnic groups, to understand the differences between them and potentially to estimate the underlying utility functions more efficiently.

26 CFR 25.2702-2 - Definitions and valuation rules.

Code of Federal Regulations, 2011 CFR

2011-04-01

... instruments creating and governing the operation of the trust arrangement. (b) Valuation of retained interests... spouse for life. Upon the death of D's spouse, the trust is to terminate and the trust corpus is to be... which the income is to be paid to A for life. Upon termination of the trust, the trust corpus is to be...

How dead is dead? Qualitative findings from participants of combined traditional and lead-time time trade-off valuations.

PubMed

Al Sayah, Fatima; Mladenovic, Ana; Gaebel, Kathryn; Xie, Feng; Johnson, Jeffrey A

2016-01-01

The EuroQol Valuation Technology (EQ-VT) uses traditional time trade-off (tTTO) for health states better than dead and lead-time TTO (LT-TTO) for states worse than dead to elicit a value (-1.0 to +1.0) for each health state. In the Canadian EQ-5D-5L Valuation study which used the EQVT platform, we observed an unexpected peak in frequency of "0" values and few negative values, particularly in the range of 0 to -0.5. To better understand this finding, we sought to explore respondents' thought processes while valuing a health state, and their understanding of the tTTO and LT-TTO exercises. Qualitative semi-structured interviews were conducted with EQVT task respondents. Questions focused on valuations of health states as: (a) Same as dead in tTTO, (b) Worse than dead in tTTO but changed to same as dead in LT-TTO, (c) Worse than dead in LT-TTO, and (d) Worse than dead in LT-TTO with trading off all 10 years. Data were analyzed using content and thematic analysis. Mean age of participants (N = 70) was 40 ± 18.1 years, 60% female, and 76% Caucasian. Participants provided similar reasons for valuing a health state same as or worse than dead. Many participants expressed confusion about worse than dead valuations, distinction between same as and worse than dead, and the transition from tTTO to LT-TTO. A few indicated that the addition of 10 years of full health in the LT-TTO influenced their valuations. The transition from tTTO to LT-TTO in the EQVT was confusing to participants, whereby some health state valuations around this transition appeared to be arbitrary.

Using contingent valuation to value a noxious weeds control program: the effects of including an unsure response category

Treesearch

Patricia A. Champ; Anna Alberini; Ignacio Correas

2005-01-01

The National Oceanic and Atmospheric Administration Contingent Valuation panel recommended that a response category be included along with the vote in favor and vote against options associated with a referendum contingent valuation question that allows individuals to express lack of a well defined opinion. However, the recommendation did not include guidance on how to...

EXPERIMENTAL TESTS OF PROVISION RULES IN CONJOINT ANALYSIS FOR ENVIRONMENTAL VALUATION

EPA Science Inventory

In recent years there has been increasing use of conjoint analysis for environmental valuation. With conjoint analysis applications, respondents are simply asked to reveal their preferences - no published conjoint applications explicitly or implicitly describe how a good will ...

Beyond Level 4: Tying HPT to Valuation of Intangible Assets.

ERIC Educational Resources Information Center

Gayeski, Diane

2001-01-01

Considers how human performance technology (HPT) can achieve greater recognition in the mainstream business world by developing interventions that are framed in terms of enhancing the overall valuation of the organization's intangible assets. Discusses a consulting model that can be used with clients and stakeholders to identify barriers to…

Revealing the economic value of managed aquifer recharge: Evidence from a contingent valuation study in Italy

NASA Astrophysics Data System (ADS)

Damigos, D.; Tentes, G.; Balzarini, M.; Furlanis, F.; Vianello, A.

2017-08-01

Managed aquifer recharge [MAR) is a promising water management tool toward restoring groundwater balance and securing groundwater ecosystem services (i.e., water for drinking, industrial or irrigation use, control of land subsidence, maintenance of environmental flows to groundwater dependent ecosystems, etc.). Obviously, MAR projects can improve the quality of lives of the people by several ways. Thus, from a social perspective, the benefits of MAR cannot and should not be based only on market revenues or costs. Although the value of groundwater, from a social perspective, has been a subject of socio-economic research, literature on the value of MAR per se is very limited. This paper, focusing on Italy which is a country with extensive utilization of MAR, aims to estimate the economic value of MAR and makes a first step toward filling this gap in the literature. For this purpose, the Contingent Valuation method was implemented to provide a monetary estimate and to explore the factors influencing people's attitude and willingness to pay for MAR. The results show that society holds not only use but also significant nonuse values, which are a part of the total economic value (TEV) of groundwater according to related research efforts. To this end, MAR valuation highlights its social importance for groundwater conservation and provides a solid basis for incorporating its nonmarket benefits into groundwater management policies and assessments.

Vers une réconciliation des théories et de la pratique de l’évaluation, perspectives d’avenir

PubMed Central

Brousselle, Astrid; Champagne, François; Contandriopoulos, André-Pierre

2013-01-01

L’évaluation est un domaine très prolifique, à plusieurs points de vue. Sur le plan théorique, de nouvelles approches s’ajoutent chaque année. La pratique est également en pleine expansion. Cette demande croissante pour des évaluations dans un domaine où les développements théoriques sont très importants crée, paradoxalement, des difficultés quant à la transposition des nouvelles connaissances dans la pratique de l’évaluation. Nous proposons, premièrement, d’illustrer trois grandes difficultés auxquelles est confronté l’évaluateur dans sa pratique : la définition de l’intervention, la considération du changement et les préoccupations pour l’utilisation de l’évaluation. Dans un deuxième temps, nous présenterons les trois principales réponses théoriques que propose le domaine de l’évaluation. Dans un troisième temps, nous discuterons des enjeux de cette interface et des avenues possibles pour favoriser une réconciliation entre la pratique et la théorie de l’évaluation. Cette discussion permettra d’illustrer la tension qui se dessine actuellement entre les questionnements de la pratique et le foisonnement théorique et de présenter les avancées prochaines sur le plan des développements théoriques, vers un rapprochement des préoccupations pratiques des évaluateurs. PMID:23997420

Modelling and Computation in the Valuation of Carbon Derivatives with Stochastic Convenience Yields

PubMed Central

Chang, Shuhua; Wang, Xinyu

2015-01-01

The anthropogenic greenhouse gas (GHG) emission has risen dramatically during the last few decades, which mainstream researchers believe to be the main cause of climate change, especially the global warming. The mechanism of market-based carbon emission trading is regarded as a policy instrument to deal with global climate change. Although several empirical researches about the carbon allowance and its derivatives price have been made, theoretical results seem to be sparse. In this paper, we theoretically develop a mathematical model to price the CO2 emission allowance derivatives with stochastic convenience yields by the principle of absence of arbitrage opportunities. In the case of American options, we formulate the pricing problem to a linear parabolic variational inequality (VI) in two spatial dimensions and develop a power penalty method to solve it. Then, a fitted finite volume method is designed to solve the nonlinear partial differential equation (PDE) resulting from the power penalty method and governing the futures, European and American option valuation. Moreover, some numerical results are performed to illustrate the efficiency and usefulness of this method. We find that the stochastic convenience yield does effect the valuation of carbon emission derivatives. In addition, some sensitivity analyses are also made to examine the effects of some parameters on the valuation results. PMID:26010900

Modelling and computation in the valuation of carbon derivatives with stochastic convenience yields.

PubMed

Chang, Shuhua; Wang, Xinyu

2015-01-01

The anthropogenic greenhouse gas (GHG) emission has risen dramatically during the last few decades, which mainstream researchers believe to be the main cause of climate change, especially the global warming. The mechanism of market-based carbon emission trading is regarded as a policy instrument to deal with global climate change. Although several empirical researches about the carbon allowance and its derivatives price have been made, theoretical results seem to be sparse. In this paper, we theoretically develop a mathematical model to price the CO2 emission allowance derivatives with stochastic convenience yields by the principle of absence of arbitrage opportunities. In the case of American options, we formulate the pricing problem to a linear parabolic variational inequality (VI) in two spatial dimensions and develop a power penalty method to solve it. Then, a fitted finite volume method is designed to solve the nonlinear partial differential equation (PDE) resulting from the power penalty method and governing the futures, European and American option valuation. Moreover, some numerical results are performed to illustrate the efficiency and usefulness of this method. We find that the stochastic convenience yield does effect the valuation of carbon emission derivatives. In addition, some sensitivity analyses are also made to examine the effects of some parameters on the valuation results.

The Subjective Well-Being Method of Valuation: An Application to General Health Status.

PubMed

Brown, Timothy T

2015-12-01

To introduce the subjective well-being (SWB) method of valuation and provide an example by valuing health status. The SWB method allows monetary valuations to be performed in the absence of market relationships. Data are from the 1975-2010 General Social Survey. The value of health status is determined via the estimation of an implicit derivative based on a happiness equation. Two-stage least-squares was used to estimate happiness as a function of poor-to-fair health status, annual household income adjusted for household size, age, sex, race, marital status, education, year, and season. Poor-to-fair health status and annual household income are instrumented using a proxy for intelligence, a temporal version of the classic distance instrument, and the average health status of individuals who are demographically similar but geographically separated. Instrument validity is evaluated. Moving from good/excellent health to poor/fair health (1 year of lower health status) is equivalent to the loss of $41,654 of equivalized household income (2010 constant dollars) per annum, which is larger than median equivalized household income. The SWB method may be useful in making monetary valuations where fundamental market relationships are not present. © Health Research and Educational Trust.

Workshop: Valuation of Ecological Benefits: Improving the Science Behind Policy Decisions (2005)

EPA Pesticide Factsheets

Two-day workshop includes research examining the benefits of improved coastal water quality, the value of improved fresh water quality, advances in the stated preference valuation method, balancing conservation and urban growth, and valuing biodiversity.

An Overview of Intellectual Property and Intangible Asset Valuation Models

ERIC Educational Resources Information Center

Matsuura, Jeffrey H.

2004-01-01

This paper reviews the economic models most commonly applied to estimate the value of intellectual property and other forms of intangible assets. It highlights the key strengths and weaknesses of these models. One of the apparent weaknesses of the most commonly used valuation models is the failure to incorporate legal rights into their…

26 CFR 2.1-9 - Valuation of securities in fund.

Code of Federal Regulations, 2010 CFR

2010-04-01

...” (which shall be the basis for determining value, unless otherwise agreed to by the administration) and... no such sales were made, the “market value” thereof will be determined by the Administration on such... (CONTINUED) MARITIME CONSTRUCTION RESERVE FUND § 2.1-9 Valuation of securities in fund. (a) Equivalent values...

Economic valuation of mangrove ecosystem: empirical studies in Timbulsloko Village, Sayung, Demak, Indonesia

NASA Astrophysics Data System (ADS)

Perdana, T. A.; Suprijanto, J.; Pribadi, R.; Collet, C. R.; Bailly, D.

2018-03-01

Ecosystem resilience is the capacity of ecosystems to tolerate disorders without collapsing into different circumstances qualitatively controlled by a different set of processes. A robust ecosystem is one that can withstand shocks and rebuild itself when necessary. This study aims to identify the value of use-based economy and non-use value of current economy; calculating the total economic value of mangrove resources; and provide suggestions and recommendations based on observations in Timbulsloko, Sayung, Demak. The method used is economic valuation with total economic value technique. The sampling technique used non-probability and purposive sampling method. The results showed that the direct use value of mangroves was utilized by fisherman, fish pond farmers, branjang catchers, oystercatchers, trap makers, shop owner, grilled fish makers and shrimp chip makers. Indirect use value was derived from function as the breakwater, beach belt and hybrid engineering. Existing value was not less than 10 % of the direct use value. The total economic value was Rp. 6,361,430,639/year or about Rp. 202,335,580.1/ha/year. It is need to improve the community awareness to mangrove ecosystem and to the role of breakwater in order to reduce risk disaster and to develop an ecotourism in the area.

7 CFR 3015.55 - Valuation of donated equipment, buildings, and land.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 7 Agriculture 15 2010-01-01 2010-01-01 false Valuation of donated equipment, buildings, and land. 3015.55 Section 3015.55 Agriculture Regulations of the Department of Agriculture (Continued) OFFICE OF THE CHIEF FINANCIAL OFFICER, DEPARTMENT OF AGRICULTURE UNIFORM FEDERAL ASSISTANCE REGULATIONS Cost...

Individualism and the extended-self: cross-cultural differences in the valuation of authentic objects.

PubMed

Gjersoe, Nathalia L; Newman, George E; Chituc, Vladimir; Hood, Bruce

2014-01-01

The current studies examine how valuation of authentic items varies as a function of culture. We find that U.S. respondents value authentic items associated with individual persons (a sweater or an artwork) more than Indian respondents, but that both cultures value authentic objects not associated with persons (a dinosaur bone or a moon rock) equally. These differences cannot be attributed to more general cultural differences in the value assigned to authenticity. Rather, the results support the hypothesis that individualistic cultures place a greater value on objects associated with unique persons and in so doing, offer the first evidence for how valuation of certain authentic items may vary cross-culturally.

41 CFR 302-7.201 - Is temporary storage in excess of authorized limits and excess valuation of goods and services...

Code of Federal Regulations, 2010 CFR

2010-07-01

... excess of authorized limits and excess valuation of goods and services payable at Government expense? 302... Government expense? No, charges for excess weight, valuation above the minimum amount, and services obtained... HOUSEHOLD GOODS AND PROFESSIONAL BOOKS, PAPERS, AND EQUIPMENT (PBP&E) Actual Expense Method § 302-7.201 Is...

41 CFR 302-7.201 - Is temporary storage in excess of authorized limits and excess valuation of goods and services...

Code of Federal Regulations, 2011 CFR

2011-07-01

... excess of authorized limits and excess valuation of goods and services payable at Government expense? 302... Government expense? No, charges for excess weight, valuation above the minimum amount, and services obtained... HOUSEHOLD GOODS AND PROFESSIONAL BOOKS, PAPERS, AND EQUIPMENT (PBP&E) Actual Expense Method § 302-7.201 Is...

26 CFR 20.2032A-3 - Material participation requirements for valuation of certain farm and closely-held business real...

Code of Federal Regulations, 2014 CFR

2014-04-01

... valuation of certain farm and closely-held business real property. 20.2032A-3 Section 20.2032A-3 Internal... requirements for valuation of certain farm and closely-held business real property. (a) In general. Under... trade or business. If this election is made, the property will be valued on the basis of its value for...

26 CFR 20.2032A-3 - Material participation requirements for valuation of certain farm and closely-held business real...

Code of Federal Regulations, 2012 CFR

2012-04-01

... valuation of certain farm and closely-held business real property. 20.2032A-3 Section 20.2032A-3 Internal... requirements for valuation of certain farm and closely-held business real property. (a) In general. Under... trade or business. If this election is made, the property will be valued on the basis of its value for...

26 CFR 20.2032A-3 - Material participation requirements for valuation of certain farm and closely-held business real...

Code of Federal Regulations, 2010 CFR

2010-04-01

... valuation of certain farm and closely-held business real property. 20.2032A-3 Section 20.2032A-3 Internal... requirements for valuation of certain farm and closely-held business real property. (a) In general. Under... trade or business. If this election is made, the property will be valued on the basis of its value for...

13 CFR 108.650 - Requirement to report portfolio valuations to SBA.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Requirement to report portfolio valuations to SBA. 108.650 Section 108.650 Business Credit and Assistance SMALL BUSINESS ADMINISTRATION NEW MARKETS VENTURE CAPITAL (âNMVCâ) PROGRAM Recordkeeping, Reporting, and Examination Requirements for NMVC...

ECOLOGICAL AND SOCIALECONOMIC BENEFITS OF RESTORING AND-IMPAIRED STREAMS: EMERGY-BASED VALUATION

EPA Science Inventory

Sound environmental decisions require an integrated, systemic method of valuation that accurately accounts for environmental and social, as well as economic, costs and benefits. More inclusive methods are particularly needed for assessing ecological benefits because these are so...

Valuation of buyout options in comprehensive development agreements : final report, December 2009.

DOT National Transportation Integrated Search

2009-12-01

This project investigates the feasibility of and develops an economic valuation model for buyout options in : Comprehensive Development Agreements (CDAs). A CDA is a form of public-private partnership in which : the right to price and collect revenue...

Research on the Applicable Method of Valuation of Pure Electric Used vehicles

NASA Astrophysics Data System (ADS)

Cai, yun; Tan, zhengping; Wang, yidong; Mao, pan

2018-03-01

With the rapid growth in the ownership of pure electric vehicles, the research on the valuation of used electric vehicles has become the key to the development of the pure electric used vehicle market. The paper analyzed the application of the three value assessment methods, current market price method, capitalized earning method and replacement cost method, in pure electric used vehicles, and draws a conclusion that the replacement cost method is more suitable for pure electric used car. At the same time, the article also conducted a parametric correction exploration research, aiming at the characteristics of pure electric vehicles and replacement cost of the constituent factors. Through the analysis of the applicability parameters of physical devaluation, functional devaluation and economic devaluation, the revised replacement cost method can be used for the valuation of purely used electric vehicles for private use.

Contextual and social influences on valuation and choice.

PubMed

Engelmann, Jan B; Hein, Grit

2013-01-01

To survive in our complex environment, we have to adapt to changing contexts. Prior research that investigated how contextual changes are processed in the human brain has demonstrated important modulatory influences on multiple cognitive processes underlying decision-making, including perceptual judgments, working memory, as well as cognitive and attentional control. However, in everyday life, the importance of context is even more obvious during economic and social interactions, which often have implicit rule sets that need to be recognized by a decision-maker. Here, we review recent evidence from an increasing number of studies in the fields of Neuroeconomics and Social Neuroscience that investigate the neurobiological basis of contextual effects on valuation and social choice. Contrary to the assumptions of rational choice theory, multiple contextual factors, such as the availability of alternative choice options, shifts in reference point, and social context, have been shown to modulate behavior, as well as signals in task-relevant neural networks. A consistent picture that emerges from neurobiological results is that valuation-related activity in striatum and ventromedial prefrontal cortex is highly context dependent during both social and nonsocial choice. Alternative approaches to model and explain choice behavior, such as comparison-based choice models, as well as implications for future research are discussed. Copyright © 2013 Elsevier B.V. All rights reserved.

26 CFR 25.2512-1 - Valuation of property; in general.

Code of Federal Regulations, 2010 CFR

2010-04-01

... AND GIFT TAXES GIFT TAX; GIFTS MADE AFTER DECEMBER 31, 1954 Transfers § 25.2512-1 Valuation of property; in general. Section 2512 provides that if a gift is made in property, its value at the date of the gift shall be considered the amount of the gift. The value of the property is the price at which...

26 CFR 20.2031-2 - Valuation of stocks and bonds.

Code of Federal Regulations, 2010 CFR

2010-04-01

... day before the valuation date. Assume further, that there were sales on Thursday, March 29, 1973, and that the closing selling price on that day was $23. The price of $24.50 is taken as representing the... liquidation rights created after October 8, 1990. [T.D. 6296, 23 FR 4529, June 24, 1958; 25 FR 14021, Dec. 31...

26 CFR 20.2031-2 - Valuation of stocks and bonds.

Code of Federal Regulations, 2011 CFR

2011-04-01

..., that is given to the option or contract price in determining the value of the securities for estate tax... AND GIFT TAXES ESTATE TAX; ESTATES OF DECEDENTS DYING AFTER AUGUST 16, 1954 Gross Estate § 20.2031-2 Valuation of stocks and bonds. (a) In general. The value of stocks and bonds is the fair market value per...

26 CFR 20.2031-2 - Valuation of stocks and bonds.

Code of Federal Regulations, 2012 CFR

2012-04-01

..., that is given to the option or contract price in determining the value of the securities for estate tax... AND GIFT TAXES ESTATE TAX; ESTATES OF DECEDENTS DYING AFTER AUGUST 16, 1954 Gross Estate § 20.2031-2 Valuation of stocks and bonds. (a) In general. The value of stocks and bonds is the fair market value per...

26 CFR 20.2031-2 - Valuation of stocks and bonds.

Code of Federal Regulations, 2013 CFR

2013-04-01

..., that is given to the option or contract price in determining the value of the securities for estate tax... AND GIFT TAXES ESTATE TAX; ESTATES OF DECEDENTS DYING AFTER AUGUST 16, 1954 Gross Estate § 20.2031-2 Valuation of stocks and bonds. (a) In general. The value of stocks and bonds is the fair market value per...

26 CFR 20.2031-2 - Valuation of stocks and bonds.

Code of Federal Regulations, 2014 CFR

2014-04-01

..., that is given to the option or contract price in determining the value of the securities for estate tax... AND GIFT TAXES ESTATE TAX; ESTATES OF DECEDENTS DYING AFTER AUGUST 16, 1954 Gross Estate § 20.2031-2 Valuation of stocks and bonds. (a) In general. The value of stocks and bonds is the fair market value per...

Quantitative valuation placed by children and teenagers on participation in two hypothetical research scenarios.

PubMed

Funnell, Dan; Fertleman, Caroline; Carrey, Liz; Brierley, Joe

2012-11-01

For paediatric medicine to advance, research must be conducted specifically with children. Concern about poor recruitment has led to debate about payments to child research participants. Although concerns about undue influence by such 'compensation' have been expressed, it is useful to determine whether children can relate the time and inconvenience associated with participation to the value of payment offered. This study explores children's ability to determine fair remuneration for research participation, and reviews payments to children participating in research. Forty children were interviewed before outpatient visits at two London Hospitals: Great Ormond Street Children's Hospital and the Whittington Hospital District General Hospital. Children were asked to value their involvement in two hypothetical research scenarios - the first an 'additional blood sample', the second also involving daily oral oil capsules taken for a fortnight before further venesection. Background knowledge about familiarity with money, and experience with hospitalisation was assessed. The mean valuation of involvement in the second scenario (£13.18) was higher than in the first (£2.84) (p<0.001). This higher valuation persisted when children were categorised into groups 'aged 12+' and 'below 12'. Those undergoing a blood test on the day placed a higher valuation on participation in the second scenario (£10.43, £21.67, p=0.044). These children aged 8-16 demonstrated the capacity to discern a fair valuation for participation in medical research. The monetary sums are influenced by the time and inconvenience involved in the research, and by the extent of recent experience with hospital procedures. The authors review current ethical thinking regarding payments to child research participants and suggest that a fair wage model might be an ethically acceptable way to increase participation of children in research.

Use of ecosystem services economic valuation for decision making: questioning a literature blindspot.

PubMed

Laurans, Yann; Rankovic, Aleksandar; Billé, Raphaël; Pirard, Romain; Mermet, Laurent

2013-04-15

Ecosystem Services economic Valuation (ESV) is often seen as a tool that can potentially enhance our collective choices regarding ecosystem services as it factors in the costs and benefits of their degradation. Yet, to achieve this, the social processes leading to decisions need to use ESV effectively. This makes it necessary to understand if and how ESV is or is not used by decision-makers. However, there appears to be a literature blindspot as to the issue of the Use of Ecosystem Services economic Valuation (UESV). This paper proposes a systematic review on UESV in peer-reviewed scientific literature. It shows that this literature gives little attention to this issue and rarely reports cases where ESV has been put to actual use, even though such use is frequently referred to as founding the goal and justification of ESV. The review identifies three categories of potential UESV: decisive, technical and informative, which are usually mentioned as prospects for the valuations published. Two sets of hypotheses are examined to explain this result: either the use of ESV is a common practice, but is absent from the literature reviewed here; or the use of ESV is effectively rare. These hypotheses are discussed and open up further avenues of research which should make the actual use of ESV their core concern. Copyright © 2013 Elsevier Ltd. All rights reserved.

The valuation of nursing begins with identifying value drivers.

PubMed

Rutherford, Marcella M

2010-03-01

Adequate investment in a profession links to its ability to define and document its value. This requires identifying those elements or value drivers that demonstrate its worth. To completely identify nursing's value drivers requires meshing the economic, technical, and caring aspects of its profession. Nursing's valuation includes assessing nursing's tangible and intangible assets and documenting these assets. This information communicates nursing's worth and ensures adequate economic investment in its services.

Valuation of financial models with non-linear state spaces

NASA Astrophysics Data System (ADS)

Webber, Nick

2001-02-01

A common assumption in valuation models for derivative securities is that the underlying state variables take values in a linear state space. We discuss numerical implementation issues in an interest rate model with a simple non-linear state space, formulating and comparing Monte Carlo, finite difference and lattice numerical solution methods. We conclude that, at least in low dimensional spaces, non-linear interest rate models may be viable.

Individualism and the Extended-Self: Cross-Cultural Differences in the Valuation of Authentic Objects

PubMed Central

Gjersoe, Nathalia L.; Newman, George E.; Chituc, Vladimir; Hood, Bruce

2014-01-01

The current studies examine how valuation of authentic items varies as a function of culture. We find that U.S. respondents value authentic items associated with individual persons (a sweater or an artwork) more than Indian respondents, but that both cultures value authentic objects not associated with persons (a dinosaur bone or a moon rock) equally. These differences cannot be attributed to more general cultural differences in the value assigned to authenticity. Rather, the results support the hypothesis that individualistic cultures place a greater value on objects associated with unique persons and in so doing, offer the first evidence for how valuation of certain authentic items may vary cross-culturally. PMID:24658437

Congruence or discrepancy? Comparing patients' health valuations and physicians' treatment goals for rehabilitation for patients with chronic conditions.

PubMed

Nagl, Michaela; Farin, Erik

2012-03-01

The aim of this study was to test the congruence of patients' health valuations and physicians' treatment goals for the rehabilitation of chronically ill patients. In addition, patient characteristics associated with greater or less congruence were to be determined. In a questionnaire study, patients' health valuations and physicians' goals were assessed in three chronic conditions [breast cancer (BC), chronic ischemic heart disease (CIHD), and chronic back pain (CBP)] using a ranking method. Sociodemographic variables and health-related quality of life were assessed as patient-related factors that influence congruence. Congruence was determined at the group (Spearman's ρ) and individual levels (percentage of congruence). Patient-related influencing factors were calculated after a simple imputation using multiple logistic regression analysis. At the group level, there were often only low correlations. The mean percentage of congruence was 34.7% (BC), 48.5% (CIHD), and 31.9% (CBP). Patients with BC or CIHD who have a higher level of education showed greater congruence. Our results indicate some high discrepancy rates between physicians' treatment goals and patients' health valuations. It is possible that patients have preferences that do not correspond well with realistic rehabilitation goals or that physicians do not take patients' individual health valuations sufficiently into consideration when setting goals.

Neural correlates of economic value and valuation context: an event-related potential study.

PubMed

Tyson-Carr, John; Kokmotou, Katerina; Soto, Vicente; Cook, Stephanie; Fallon, Nicholas; Giesbrecht, Timo; Stancak, Andrej

2018-05-01

The value of environmental cues and internal states is continuously evaluated by the human brain, and it is this subjective value that largely guides decision making. The present study aimed to investigate the initial value attribution process, specifically the spatiotemporal activation patterns associated with values and valuation context, using electroencephalographic event-related potentials (ERPs). Participants completed a stimulus rating task in which everyday household items marketed up to a price of £4 were evaluated with respect to their desirability or material properties. The subjective values of items were evaluated as willingness to pay (WTP) in a Becker-DeGroot-Marschak auction. On the basis of the individual's subjective WTP values, the stimuli were divided into high- and low-value items. Source dipole modeling was applied to estimate the cortical sources underlying ERP components modulated by subjective values (high vs. low WTP) and the evaluation condition (value-relevant vs. value-irrelevant judgments). Low-WTP items and value-relevant judgments both led to a more pronounced N2 visual evoked potential at right frontal scalp electrodes. Source activity in right anterior insula and left orbitofrontal cortex was larger for low vs. high WTP at ∼200 ms. At a similar latency, source activity in right anterior insula and right parahippocampal gyrus was larger for value-relevant vs. value-irrelevant judgments. A stronger response for low- than high-value items in anterior insula and orbitofrontal cortex appears to reflect aversion to low-valued item acquisition, which in an auction experiment would be perceived as a relative loss. This initial low-value bias occurs automatically irrespective of the valuation context. NEW & NOTEWORTHY We demonstrate the spatiotemporal characteristics of the brain valuation process using event-related potentials and willingness to pay as a measure of subjective value. The N2 component resolves values of objects with a

Economic valuation of environmental benefits from wastewater treatment processes: an empirical approach for Spain.

PubMed

Hernández-Sancho, Francesc; Molinos-Senante, María; Sala-Garrido, Ramón

2010-01-15

Economic research into the design and implementation of policies for the efficient management of water resources has been emphasized by the European Water Framework Directive (Directive 2000/60/EC). The efficient implementation of policies to prevent the degradation and depletion of water resources requires determining their value in social and economic terms and incorporating this information into the decision-making process. A process of wastewater treatment has many associated environmental benefits. However, these benefits are often not calculated because they are not set by the market, due to inadequate property rights, the presence of externalities, and the lack of perfect information. Nevertheless, the valuation of these benefits is necessary to justify a suitable investment policy and a limited number of studies exist on the subject of the economic valuation of environmental benefits. In this paper, we propose a methodology based on the estimation of shadow prices for the pollutants removed in a treatment process. This value represents the environmental benefit (avoided cost) associated with undischarged pollution. This is a pioneering approach to the economic valuation of wastewater treatment. The comparison of these benefits with the internal costs of the treatment process will provide a useful indicator for the feasibility of wastewater treatment projects. Copyright 2009 Elsevier B.V. All rights reserved.

Heterogeneity and Cooperation: The Role of Capability and Valuation on Public Goods Provision

PubMed Central

Kolle, Felix

2018-01-01

We experimentally investigate the effects of two different sources of heterogeneity - capability and valuation - on the provision public goods when punishment is possible or not. We find that compared to homogeneous groups, asymmetric valuations for the public good have negative effects on cooperation and its enforcement through informal sanctions. Asymmetric capabilities in providing the public good, in contrast, have a positive and stabilizing effect on voluntary contributions. The main reason for these results are the different externalities contributions have on the other group members’ payoffs affecting individuals’ willingness to cooperate. We thus provide evidence that it is not the asymmetric nature of groups per se that facilitates or impedes collective action, but that it is rather the nature of asymmetry that determines the degree of cooperation and the level of public good provision. PMID:29367794

The valuation of the EQ-5D in Portugal.

PubMed

Ferreira, Lara N; Ferreira, Pedro L; Pereira, Luis N; Oppe, Mark

2014-03-01

The EQ-5D is a preference-based measure widely used in cost-utility analysis (CUA). Several countries have conducted surveys to derive value sets, but this was not the case for Portugal. The purpose of this study was to estimate a value set for the EQ-5D for Portugal using the time trade-off (TTO). A representative sample of the Portuguese general population (n = 450) stratified by age and gender valued 24 health states. Face-to-face interviews were conducted by trained interviewers. Each respondent ranked and valued seven health states using the TTO. Several models were estimated at both the individual and aggregated levels to predict health state valuations. Alternative functional forms were considered to account for the skewed distribution of these valuations. The models were analyzed in terms of their coefficients, overall fit and the ability for predicting the TTO values. Random effects models were estimated using generalized least squares and were robust across model specification. The results are generally consistent with other value sets. This research provides the Portuguese EQ-5D value set based on the preferences of the Portuguese general population as measured by the TTO. This value set is recommended for use in CUA conducted in Portugal.

Reward and social valuation deficits following ventromedial prefrontal damage.

PubMed

Moretti, Laura; Dragone, Davide; di Pellegrino, Giuseppe

2009-01-01

Lesion and imaging studies have implicated the ventromedial prefrontal cortex (vmPFC) in economic decisions and social interactions, yet its exact functions remain unclear. Here, we investigated the hypothesis that the vmPFC represents the subjective value or desirability of future outcomes during social decision-making. Both vmPFC-damaged patients and control participants acted as the responder in a single-round ultimatum game. To test outcome valuation, we contrasted concrete, immediately available gains with abstract, future ones. To test social valuation, we contrasted interactions with a human partner and those involving a computer. We found that, compared to controls, vmPFC patients substantially reduced their acceptance rate of unfair offers from a human partner, but only when financial gains were presented as abstract amounts to be received later. When the gains were visible and readily available, the vmPFC patients' acceptance of unfair offers was normal. Furthermore, unlike controls, vmPFC patients did not distinguish between unfair offers from a human agent and those from a computerized opponent. We conclude that the vmPFC encodes the expected value of abstract, future goals in a common neural currency that takes into account both reward and social signals in order to optimize economic decision-making.

Incorporating sociocultural phenomena into ecosystem-service valuation: The importance of critical pluralism

USDA-ARS?s Scientific Manuscript database

Ecosystem services (ES) scholarship has largely focused on monetary valuation and the material contributions of ecosystems to human well-being. Increasingly, research is calling for a deeper understanding of how less tangible, non-material values shape management and stakeholder decisions. Such rese...

DSS Investment Options with Damage Cost Valuation of Water Pollution at a River Basin Scale

NASA Astrophysics Data System (ADS)

El-Fadel, M.; Maroun, R.; Abou Najm, M. R.; Bou Fakhr Aldeen, R.; Lichaa El-Khoury, D.

2008-12-01

Poor water quality coupled with inadequate water sanitation services and hygiene practices has long been associated with higher water-borne diseases resulting in a serious cost to society in the form of cost of illness and forgone earnings directly related to increased morbidity and premature mortality, as well as cost of protective measures. This paper presents a socio-economic assessment of water quality in the Upper Litani river basin, Lebanon. For this purpose, field surveys were first conducted followed by the application of 1) the human capital and the willingness to pay approaches for mortality valuation, 2) the cost of illness, pain and suffering approach for morbidity valuation, and 3) the market price approach for the valuation of agricultural impacts. Economic benefits of improving water quality and sanitation were examined in the context of a cost- benefit analysis using a Decision Support System to evaluate various investment options in the construction and operation of wastewater treatment plants. The estimated damage costs ranged between 0.22-3.26 percent of the GDP in the study area with an expected return on investment in treatment facilities within 10 to 25 years depending on economic parameters used.

Valuation of Real Options as Competitive Prototyping in System Development

DTIC Science & Technology

2014-07-01

Brealey & Meyers, 2000; Dixit & Pindyck, 1994; Kulatilaka, 1995; Lander, 1997; Lander & Pinches, 1998; McDonald, 2006; Quigg, 1993; Teisberg, 1995...Brennan & Trigeorgis, 2000; Dixit & Pindyck, 1994; Kemna, 1993; Miller & Lessard, 2000; Trigeorgis, 1995). Examples include valuation of options to... Dixit , A. K., & Pindyck, R. S. (1994). Investment under uncertainty. NJ: Princeton University Press. Ford, D. N., & Bhargav, S. (2006, Spring). Project

Revealed and stated preference valuation and transfer: A within-sample comparison of water quality improvement values

NASA Astrophysics Data System (ADS)

Ferrini, Silvia; Schaafsma, Marije; Bateman, Ian

2014-06-01

Benefit transfer (BT) methods are becoming increasingly important for environmental policy, but the empirical findings regarding transfer validity are mixed. A novel valuation survey was designed to obtain both stated preference (SP) and revealed preference (RP) data concerning river water quality values from a large sample of households. Both dichotomous choice and payment card contingent valuation (CV) and travel cost (TC) data were collected. Resulting valuations were directly compared and used for BT analyses using both unit value and function transfer approaches. WTP estimates are found to pass the convergence validity test. BT results show that the CV data produce lower transfer errors, below 20% for both unit value and function transfer, than TC data especially when using function transfer. Further, comparison of WTP estimates suggests that in all cases, differences between methods are larger than differences between study areas. Results show that when multiple studies are available, using welfare estimates from the same area but based on a different method consistently results in larger errors than transfers across space keeping the method constant.

Willingness to pay for municipality hospital services in rural Japan: a contingent valuation study

PubMed Central

2011-01-01

Background The Japanese healthcare system has undergone reforms to address the struggles that municipality hospitals face. Reform guidelines clearly define criteria for administrative improvement. However, criteria to evaluate the demand for healthcare provisions in rural Japan, including the needs of rural residents for municipality hospitals in particular have not been specified. The purpose of this paper is to measure residents' willingness to pay (WTP) for municipality hospital services using the contingent valuation method, and to evaluate municipality hospital valuation on the basis of WTP. K town, located in the Hokkaido prefecture of Japan, was selected as the location for this study. Participants were recruited by a town hall healthcare administrator, hospital and clinic staff, and a local dentist. Participants were asked what amount they would be willing to pay as taxes to continue accessing the services of the municipality hospital for one year by using open-ended questions in face-to-face interviews. Findings Forty-eight residents were initially recruited, and 40 participants were selected for the study (response rate 83%). As compared to K town's population, this data slanted toward the elderly, although there was no significant difference in frequency among the characteristics. The median WTP was estimated at 39,484 yen ($438.71), with a 95% confidence interval 27,806-55,437 yen ($308.95-615.96). Logistic regression revealed no significant factors affecting WTP. Conclusions If the total amount of residents' WTP for the municipality hospital were to be estimated by this result, it would calculate with 129,586,000 yen ($1,439,844). This is approximately equal to the amount of money to be transferred from the general account of the government of K town, more than one-half of the town tax of K town, and about two-fold in comparison to Japan as a whole. This showed that K town's residents placed a high valuation on the municipality hospital, which nearly

“Gaining or losing”: The importance of the perspective in primary care health services valuation

PubMed Central

Ariza-Cardiel, Gloria; Peña-Longobardo, Luz Mª; Polentinos-Castro, Elena; Oliva-Moreno, Juan; Gil-Lacruz, Ana Isabel; Medina-Palomino, Héctor; del Cura-González, Isabel

2017-01-01

Rationale and objectives Economic theory classifies an intervention as socially beneficial if the total Willingness to Pay (WTP) of those who gain exceeds the total Willingness to accept (WTA) of those who are harmed. This paper examines the differences in health system users’ valuation of a health care service in primary care setting based on the WTP and WTA perspectives, discussing the impact of personal and service variables, including risk attitudes, on these disparities. Method Six hundred and sixty two subjects who asked for care in health centres in the Region of Madrid (Spain) were interviewed, using the contingent valuation method to estimate WTP and WTA. Patient sociodemographic characteristics, health needs, satisfaction with the service and risk attitude and behaviour under risk (measured by self-reported scales and lottery games respectively) were collected. Generalised Linear Models were used to estimate the association between the explanatory variables and the WTA/WTP ratio. Results We obtained the WTA/WTP ratio for 570 subjects (mean 1.66 CI 95%: 1.53–1.79; median 1, interquartile range 1–2). People with higher education or in high social groups expressed WTA values closest to WTP. The opposite occurred in patients with the greatest health needs or who were born abroad. Self-reported expression of risk aversion appeared also related to increases in the WTA/WTP ratio. Satisfaction with the service evaluated was the most influential factor in the WTA/WTP ratio. Conclusion Health need, difficulty in obtaining substitutes and satisfaction with the service could serve for profiling people averse to loss for health care services in primary care setting. Self-reported expression of risk aversion could also be related to increases in the WTA/WTP ratio. This would mean that these characteristics should be taken into account both in the design and implementation of new healthcare interventions, as in the making decision for disinvestment. PMID:29206847

Valuations of genetic test information for treatable conditions: the case of colorectal cancer screening.

PubMed

Kilambi, Vikram; Johnson, F Reed; González, Juan Marcos; Mohamed, Ateesha F

2014-12-01

The value of the information that genetic testing services provide can be questioned for insurance-based health systems. The results of genetic tests oftentimes may not lead to well-defined clinical interventions; however, Lynch syndrome, a genetic mutation for which carriers are at an increased risk for colorectal cancer, can be identified through genetic testing, and meaningful health interventions are available via increased colonoscopic surveillance. Valuations of test information for such conditions ought to account for the full impact of interventions and contingent outcomes. To conduct a discrete-choice experiment to elicit individuals' preferences for genetic test information. A Web-enabled discrete-choice experiment survey was administered to a representative sample of US residents aged 50 years and older. In addition to specifying expenditures on colonoscopies, respondents were asked to make a series of nine selections between two hypothetical genetic tests or a no-test option under the premise that a relative had Lynch syndrome. The hypothetical genetic tests were defined by the probability of developing colorectal cancer, the probability of a false-negative test result, privacy of the result, and out-of-pocket cost. A model specification identifying necessary interactions was derived from assumptions of risk behavior and the decision context and was estimated using random-parameters logit. A total of 650 respondents were contacted, and 385 completed the survey. The monetary equivalent of test information was approximately $1800. Expenditures on colonoscopies to reduce mortality risks affected valuations. Respondents with lower income or who reported being employed significantly valued genetic tests more. Genetic testing may confer benefits through the impact of subsequent interventions on private individuals. Copyright © 2014. Published by Elsevier Inc.

Assessing the Warm Glow Effect in Contingent Valuations for Public Libraries

ERIC Educational Resources Information Center

Lee, Soon-Jae; Chung, Hye-Kyung; Jung, Eun-Joo

2010-01-01

This article aims to present evidence of the warm glow effect in a public library setting. More specifically, it tests whether individual respondents with different values for the warm glow component report different values for their willingness to pay (WTP). The data come from a contingent valuation survey conducted on randomly selected citizens…

Valuation and Presentation Conventions in News Communication: A Formula for Measurement.

ERIC Educational Resources Information Center

Corrigan, Dennis M.

To increase knowledge about the nature of news (particularly its valuation and presentation conventions), to enrich understanding of communication conventions in our society through the study of news communication, and to fashion a tool that can be used to charge and change such conventions, a study examined the content of all news articles…

Forgetting the Past: Individual Differences in Recency in Subjective Valuations from Experience

ERIC Educational Resources Information Center

Ashby, Nathaniel J. S.; Rakow, Tim

2014-01-01

Recent research investigating decisions from experience suggests that not all information is treated equally in the decision process, with more recently encountered information having a greater impact. We report 2 studies investigating how this differential treatment of sequentially encountered information affects subjective valuations of risky…

Do Portuguese and UK health state values differ across valuation methods?

PubMed

Ferreira, Lara N; Ferreira, Pedro L; Rowen, Donna; Brazier, John E

2011-05-01

There has been an increasing interest in developing country-specific preference weights for widely used measures of health-related quality of life. The valuation of health states has usually been done using cardinal preference elicitation techniques of standard gamble (SG) or time trade-off (TTO). Yet there is increasing interest in the use of ordinal methods to elicit health state utility values as an alternative to the more conventional cardinal techniques.This raises the issue of firstly whether ordinal and cardinal methods of preference elicitation provide similar results and secondly whether this relationship is robust across different valuation studies and different populations. This study examines SG and rank preference weights for the SF-6D derived from samples of the UK and Portuguese general population. The preference weights for the Portuguese sample (n = 140) using rank data are estimated here with 810 health state valuations. The study further examines whether the use of these different preference weights has an impact when comparing the health of different age and severity groups in the Portuguese working population (n = 2,459). The rank model performed well across the majority of measures of goodness of fit used. The preference weights for the Portuguese sample using rank data are systematically lower than the UK weights for physical functioning and pain. Yet our results suggest higher similarity between preference weights derived using rank data than using standard gamble across the UK and Portuguese samples. Our results further suggest that the SF-6D values for a sample of the Portuguese working-age population and differences across groups are affected by the use of different preference weights. We suggest that the use of a Portuguese SF-6D weighting system is preferred for studies aiming to reflect the health state preferences of the Portuguese population.

Attributing a monetary value to patients' time: A contingent valuation approach.

PubMed

van den Berg, Bernard; Gafni, Amiram; Portrait, France

2017-04-01

It is hard to ignore the importance of patient time investment in the production of health since the influential paper by Grossman (1972). Patients' time includes time to admission, travel time, waiting time, and treatment time and can be substantial. Patients' time is, however, often ignored in economic analyses. This may lead to biased results and inappropriate policy recommendations, which may eventually influence patients' health, wellbeing and welfare. How to value patient time is not straightforward. Although there is some emerging literature on the monetary valuation of patient time, an important challenge remains to develop an approach that can be used to monetarily value time of patients not participating in the labour market. We aim to contribute to the health economics literature by describing and empirically illustrating how to monetarily value the time of patients not participating in the labour market comprehensively, using the contingent valuation method. It is worth noting that our method can also be applied to people participating in the labour market. This paper describes the development of the contingent valuation survey. We apply our survey approach to a sample of 238 Dutch patients not participating in the labour market: n = 107 Radiotherapy department (data collected between November 2011 and January 2013); n = 44 Rehabilitation department (March 2012-May 2012); n = 87 Orthopaedics department (January to June 2013). Results show that those patients value waiting time the highest (€30.10 per hour) and value travel and treatment time equally with respectively €13.20 and €13.32 per hour. This paper encourages future empirical research refining and applying the developed survey methodology to create more data on how other subgroups of individuals value their patients' time. Copyright © 2017 Elsevier Ltd. All rights reserved.

VALUATION OF ECOLOGICAL RESOURCES: INTEGRATION OF ECOLOGY AND SOCIOECONOMICS IN ENVIRONMENTAL DECISION MAKING

EPA Science Inventory

In October 2003, a Pellston Workshop on Valuation of Ecological Resources was organized by SETAC to examine the integration of ecological assessment and socioeconomics to improve environmental decision-making. The workshop brought together a multidisciplinary group of distinguis...

A comparison of Hong Kong and United Kingdom SF-6D health states valuations using a nonparametric Bayesian method.

PubMed

Kharroubi, Samer A; Brazier, John E; McGhee, Sarah

2014-06-01

There is interest in the extent to which valuations of health may differ between different countries and cultures, but few studies have compared preference values of health states obtained in different countries. The present study applies a nonparametric model to estimate and compare two HK and UK standard gamble values for six-dimensional health state short form (derived from short-form 36 health survey) (SF-6D) health states using Bayesian methods. The data set is the HK and UK SF-6D valuation studies in which two samples of 197 and 249 states defined by the SF-6D were valued by representative samples of the HK and UK general populations, respectively, both using the standard gamble technique. We estimated a function applicable across both countries that explicitly accounts for the differences between them, and is estimated using the data from both countries. The results suggest that differences in SF-6D health state valuations between the UK and HK general populations are potentially important. In particular, the valuations of Hong Kong were meaningfully higher than those of the United Kingdom for most of the selected SF-6D health states. The magnitude of these country-specific differences in health state valuation depended, however, in a complex way on the levels of individual dimensions. The new Bayesian nonparametric method is a powerful approach for analyzing data from multiple nationalities or ethnic groups to understand the differences between them and potentially to estimate the underlying utility functions more efficiently. Copyright © 2014 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.

The topic is the Relevance of wetland economic valuation in Uganda Acase study of Kiyanja-Kaku wetland in Lwengo District-Central Uganda.

NASA Astrophysics Data System (ADS)

Namulema, Mary Jude

2016-04-01

This study examined the relevance of economic valuation of wetlands in Uganda. A case study was done on Kiyanja-Kaku wetland in Lwengo District in Central Uganda using a semi-structured survey. Three objectives were examined i.e.: (i) To identify wetland ecosystem services in Uganda (ii) To identify the economic valuation methods appropriate for wetlands in Uganda (iii) To value clean water obtained from Kiyanja-Kaku wetland. The wetland ecosystem services were identified as provisioning, regulating, habitat, cultural and amenities services. The community had knowledge about 17 out of the 22 services as given by TEEB (2010). The economic valuation methods identified were, market price, efficiency price, travel cost, contingent valuation, hedonic pricing, and production function and benefit transfer methods. These were appropriate for valuation of wetlands in Uganda but only three methods i.e. market price, contingent valuation and productivity methods have been applied by researchers in Uganda so far. The economic value of clean water from Kiyanja-Kaku wetland to the nearby community was established by using the market price of clean water the National water and Sewerage Corporation charges for the water in Uganda to obtain the low value and the market price of water from the survey was used to obtain the high value. The estimated economic value of clean water service for a household ranges from UGX. 612174 to 4054733 (US 168.0-1095.0). The estimated economic value of clean water service from Kiyanja-Kaku wetland to the entire community ranges from UGX. 2,732,133,000.0 to 18,096,274,000.0 (US 775,228.0-4,885,994.0).

Effects of social sustainability signaling on neural valuation signals and taste-experience of food products

PubMed Central

Enax, Laura; Krapp, Vanessa; Piehl, Alexandra; Weber, Bernd

2015-01-01

Value-based decision making occurs when individuals choose between different alternatives and place a value on each alternative and its attributes. Marketing actions frequently manipulate product attributes, by adding, e.g., health claims on the packaging. A previous imaging study found that an emblem for organic products increased willingness to pay (WTP) and activity in the ventral striatum (VS). The current study investigated neural and behavioral processes underlying the influence of Fair Trade (FT) labeling on food valuation and choice. Sustainability is an important product attribute for many consumers, with FT signals being one way to highlight ethically sustainable production. Forty participants valuated products in combination with an FT emblem or no emblem and stated their WTP in a bidding task while in an MRI scanner. After that, participants tasted—objectively identical—chocolates, presented either as “FT” or as “conventionally produced”. In the fMRI task, WTP was significantly higher for FT products. FT labeling increased activity in regions important for reward-processing and salience, that is, in the VS, anterior and posterior cingulate, as well as superior frontal gyrus. Subjective value, that is, WTP was correlated with activity in the ventromedial prefrontal cortex (vmPFC). We find that the anterior cingulate, VS and superior frontal gyrus exhibit task-related increases in functional connectivity to the vmPFC when an FT product was evaluated. Effective connectivity analyses revealed a highly probable directed modulation of the vmPFC by those three regions, suggesting a network which alters valuation processes. We also found a significant taste-placebo effect, with higher experienced taste pleasantness and intensity for FT labeled chocolates. Our results reveal a possible neural mechanism underlying valuation processes of certified food products. The results are important in light of understanding current marketing trends as well as

Specific Contributions of Ventromedial, Anterior Cingulate, and Lateral Prefrontal Cortex for Attentional Selection and Stimulus Valuation

PubMed Central

Kaping, Daniel; Vinck, Martin; Hutchison, R. Matthew; Everling, Stefan; Womelsdorf, Thilo

2011-01-01

Attentional control ensures that neuronal processes prioritize the most relevant stimulus in a given environment. Controlling which stimulus is attended thus originates from neurons encoding the relevance of stimuli, i.e. their expected value, in hand with neurons encoding contextual information about stimulus locations, features, and rules that guide the conditional allocation of attention. Here, we examined how these distinct processes are encoded and integrated in macaque prefrontal cortex (PFC) by mapping their functional topographies at the time of attentional stimulus selection. We find confined clusters of neurons in ventromedial PFC (vmPFC) that predominantly convey stimulus valuation information during attention shifts. These valuation signals were topographically largely separated from neurons predicting the stimulus location to which attention covertly shifted, and which were evident across the complete medial-to-lateral extent of the PFC, encompassing anterior cingulate cortex (ACC), and lateral PFC (LPFC). LPFC responses showed particularly early-onset selectivity and primarily facilitated attention shifts to contralateral targets. Spatial selectivity within ACC was delayed and heterogeneous, with similar proportions of facilitated and suppressed responses during contralateral attention shifts. The integration of spatial and valuation signals about attentional target stimuli was observed in a confined cluster of neurons at the intersection of vmPFC, ACC, and LPFC. These results suggest that valuation processes reflecting stimulus-specific outcome predictions are recruited during covert attentional control. Value predictions and the spatial identification of attentional targets were conveyed by largely separate neuronal populations, but were integrated locally at the intersection of three major prefrontal areas, which may constitute a functional hub within the larger attentional control network. PMID:22215982

National valuation of monarch butterflies indicates an untapped potential for incentive-based conservation

USGS Publications Warehouse

Diffendorfer, Jay E.; Loomis, John B.; Ries, Leslie; Oberhauser, Karen; Semmens, Darius; Semmens, Brice; Butterfield, Bruce; Bagstad, Ken; Goldstein, Josh; Wiederholt, Ruscena; Mattsson, Brady; Thogmartin, Wayne E.

2013-01-01

The annual migration of monarch butterflies (Danaus plexippus) has high cultural value and recent surveys indicate monarch populations are declining. Protecting migratory species is complex because they cross international borders and depend on multiple regions. Understanding how much, and where, humans place value on migratory species can facilitate market-based conservation approaches. We performed a contingent valuation study of monarchs to understand the potential for such approaches to fund monarch conservation. The survey asked U.S. respondents about the money they would spend, or have spent, growing monarch-friendly plants, and the amount they would donate to monarch conservation organizations. Combining planting payments and donations, the survey indicated U.S. households valued monarchs as a total one-time payment of $4.78–$6.64 billion, levels similar to many endangered vertebrate species. The financial contribution of even a small percentage of households through purchases or donations could generate new funding for monarch conservation through market-based approaches.

The application of the Contingent Valuation method towards the assessment of the impacts emerged from the March 2006 floods in the Evros River. An experts-based survey.

NASA Astrophysics Data System (ADS)

Markantonis, V.; Bithas, K.

2009-04-01

In March 2006 Greece was struck by a severe flooding, which caused significant damages in the Prefecture of Evros, on the Eastern border of Greece. 250 million m² of farmland was flooded causing severe damages to agriculture, transport and water supply networks. Total direct damages are estimated at € 372 million. The negative effect on economic activity caused by the floods, considered the worst over the last 50 years, took place in an area that had already been severely affected by floods in 2005. Apart from the direct damages critical were also the indirect impacts on the environmental and the social level. The need for economic analysis concerning the design and implementation of efficient flood management policies is well emphasized in the natural hazards' policies. Within this framework, the present paper is analyzing the application of stated preferences valuation techniques for the assessment of the damages caused in the Prefecture of Evros by the severe floods of March 2006. The objective of this paper is to define the role of economic valuation techniques in assisting the design of efficient and sustainable policies for flood management. More specific, the Contingent Valuation (CV) method is applied in order to valuate the impacts of the March 2006 floods, including the environmental impacts as far as concerns the soil, the biodiversity and the aesthetic environment of the flooded areas. The paper begins with a discussion of the theoretical economic framework, and particularly, the contingent valuation method framework that can be used to evaluate flood impacts. Understanding public preferences for complex environmental policy changes, such as flood impacts, is a preeminent challenge for environmental economists and other social scientists. Information issues are central to the design and application of the survey-based contingent valuation (CV) method for valuing environmental goods. While content is under the control of the analyst, how this

Workshop: Improving the Assessment and Valuation of Climate Change Impacts for Policy and Regulatory Analysis: Modeling Climate Change Impacts and Associated Economic Damages (2010 - part 1)

EPA Pesticide Factsheets

The purpose of this workshop Improving the Assessment and Valuation of Climate Change Impacts for Policy and Regulatory Analysis. focused on conceptual and methodological issues - integrated assessment modeling and valuation.

26 CFR 1.170A-12T - Valuation of a remainder interest in real property for contributions made after July 31, 1969...

Code of Federal Regulations, 2010 CFR

2010-04-01

... depreciation factor. If the valuation of the remainder interest in depreciable property is dependent upon the... 26 Internal Revenue 3 2010-04-01 2010-04-01 false Valuation of a remainder interest in real property for contributions made after July 31, 1969 (temporary). 1.170A-12T Section 1.170A-12T Internal...

7 CFR 3015.54 - Valuation of donated supplies and loaned equipment or space.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 7 Agriculture 15 2010-01-01 2010-01-01 false Valuation of donated supplies and loaned equipment or space. 3015.54 Section 3015.54 Agriculture Regulations of the Department of Agriculture (Continued) OFFICE OF THE CHIEF FINANCIAL OFFICER, DEPARTMENT OF AGRICULTURE UNIFORM FEDERAL ASSISTANCE REGULATIONS...

76 FR 71491 - Gross Estate; Election to Value on Alternate Valuation Date

Federal Register 2010, 2011, 2012, 2013, 2014

2011-11-18

...'s estate may elect to exclude from the gross estate a portion of the fair market value of property includible in the decedent's gross estate by granting a qualified conservation easement on that property... the alternate valuation period, but only to the extent that the reduction in value is due to market...

Pharmacological and Expectancy Effects of a Low Amount of Alcohol Drinking on Outcome Valuation and Risk Perception in Males and Females

PubMed Central

Tsurugizawa, Tomokazu; Tokuda, Shinsuke; Harada, Tokiko; Takahashi, Taiki; Sadato, Norihiro

2016-01-01

The high-dose, alcohol-induced influences on risk perception and loss aversion depend on sex. On the other hand, low-dose alcohol has less effect on risky behavior. However, the effect of low-dose alcohol on subjective valuation of gain or loss and also the effect of placebo (expectancy of alcohol) on risk perception have not been fully investigated. We investigated the effects of low-dose alcohol (0.02 g/100 ml blood alcohol concentration) and placebo effects on subjective risk perception and subjective valuation of uncertain gain and loss in females and males. Participants in the control group and the placebo group were served alcohol-free, wine-flavored beverage and participants of alcohol group were served wine (14% alcohol). The placebo group was not informed that the drink was not alcohol but the control group was informed. Then paper–pencil tasks for subjective risk perception and valuation of gain or loss were performed 45 min after drinking the beverage. The participants were asked to draw the line on a 180 mm scale for each question. The placebo effects as well as the low-dose alcohol effects were observed in subjective valuations of gain or loss. Except for effect of beverages, a gender difference was also observed for subjective likelihood. The females estimated a low-probability loss as more likely and estimated a high-probability gain as less likely than did the males. From the Stevens’ law fitting analysis, the placebo, not alcohol, significantly induced the psychophysical effect of the subjective valuation of gain or loss. These results indicate that the psychological effects of expectancy of alcohol (placebo) could be a major factor in changing the subjective valuation of gain or loss over the pharmacological effects of a small amount of alcohol (like a glass of wine). Furthermore, these results also indicate that gender differences should be taken into account when investigating pharmacological or psychological effect on decision-making. PMID

Partitioning Stakeholders for the Economic Valuation of Ecosystem Services: Examples of a Mangrove System

DOE Office of Scientific and Technical Information (OSTI.GOV)

Micheletti, Tatiane, E-mail: micheletti@forst.tu-dresden.de; Jost, François; Berger, Uta

Although the importance of ecosystem services provided by natural forests, especially mangroves, is well known, the destruction of these environments is still ubiquitous and therefore protection measures are urgently needed. The present study compares the current approach of economic valuation of ecosystem services to a proposed one, using a study case of a mangrove system as an example. We suggest that a cost-benefit analysis for economically valuing environmental services should be performed with three additional modifications consisting of (i) a categorization of local stakeholders as demanders of particular ecosystem services, (ii) acknowledgement of the government as one of these demandermore » groups, and (iii) the inclusion of opportunity costs in the valuation. The application of this approach to the mangrove area in the east portion of Great Abaco Island, the Bahamas, reveals that not only the ecosystem services received differ between demander groups, but the monetary benefits and costs are also specific to each of these groups. We show that the economic valuation of the ecosystem should be differentiated for each category, instead of being calculated as a net ‘societal value’ as it is currently. Applying this categorization of demanders enables a better understanding of the cost and benefit structure of the protection of a natural area. The present paper aims to facilitate discussions regarding benefit and cost sharing related to the protection of natural areas.« less

25 CFR 162.524 - Will BIA require a valuation for a WEEL?

Code of Federal Regulations, 2014 CFR

2014-04-01

... 25 Indians 1 2014-04-01 2014-04-01 false Will BIA require a valuation for a WEEL? 162.524 Section 162.524 Indians BUREAU OF INDIAN AFFAIRS, DEPARTMENT OF THE INTERIOR LAND AND WATER LEASES AND PERMITS Wind and Solar Resource Leases Weel Monetary Compensation Requirements § 162.524 Will BIA require a...

25 CFR 162.524 - Will BIA require a valuation for a WEEL?

Code of Federal Regulations, 2013 CFR

2013-04-01

... 25 Indians 1 2013-04-01 2013-04-01 false Will BIA require a valuation for a WEEL? 162.524 Section 162.524 Indians BUREAU OF INDIAN AFFAIRS, DEPARTMENT OF THE INTERIOR LAND AND WATER LEASES AND PERMITS Wind and Solar Resource Leases Weel Monetary Compensation Requirements § 162.524 Will BIA require a...

Industrial and Commercial Property and the Dispersion of Assessed Valuation per Pupil

ERIC Educational Resources Information Center

Boltz, Paul W.

1973-01-01

Examines the dispersion of assessed valuation per pupil in Illinois and evaluates some proposals that might reduce this dispersion. The major proposal considered by the author is removal of industrial and commercial property (I & C) from local rolls. The conclusion is drawn that removing I & C from the property tax base has little or no…

Contingent Valuation Assessment of the Economic Damages of Pollution to Marine Recreational Fishing (1989)

EPA Pesticide Factsheets

Paper develops a fully utility-theoretic model for the demand for recreational fishing access days, applied to a sample of Texas Gulf Coast anglers. The model employs contingent valuation and travel cost data jointly to calibrate a utility function.

Deletion of the Intestinal Plasma Membrane Calcium Pump, Isoform 1, Atp2b1, in Mice is Associated with Decreased Bone Mineral Density and Impaired Responsiveness to 1, 25-Dihydroxyvitamin D3

PubMed Central

Ryan, Zachary C.; Craig, Theodore A.; Filoteo, Adelaida G.; Westendorf, Jennifer J.; Cartwright, Elizabeth J.; Neyses, Ludwig; Strehler, Emanuel E.; Kumar, Rajiv

2016-01-01

The physiological importance of the intestinal plasma membrane calcium pump, isoform 1, (Pmca1, Atp2b1), in calcium absorption and homeostasis has not been previously demonstrated in vivo. Since global germ-line deletion of the Pmca1 in mice is associated with embryonic lethality, we selectively deleted the Pmca1 in intestinal absorptive cells. Mice with loxP sites flanking exon 2 of the Pmca1 gene (Pmca1fl/fl) were crossed with mice expressing Cre recombinase in the intestine under control of the villin promoter to give mice in which the Pmca1 had been deleted in the intestine (Pmca1EKO mice). Pmca1EKO mice were born at a reduced frequency and were small at the time of birth when compared to wild-type (Wt) litter mates. At two months of age, Pmca1EKO mice fed a 0.81% calcium, 0.34% phosphorus, normal vitamin D diet had reduced whole body bone mineral density (P <0.037), and reduced femoral bone mineral density (P <0.015). There was a trend towards lower serum calcium and higher serum parathyroid hormone (PTH) and 1α,25-dihydroxyvitamin D3 (1α,25(OH)2D3) concentrations in Pmca1EKO mice compared to Wt mice but the changes were not statistically significant. The urinary phosphorus/creatinine ratio was increased in Pmca1EKO mice (P <0.004). Following the administration of 200 ng of 1α,25(OH)2D3 intraperitoneally to Wt mice, active intestinal calcium transport increased ∼2-fold, whereas Pmca1EKO mice administered an equal amount of 1α,25(OH)2D3 failed to show an increase in active calcium transport. Deletion of the Pmca1 in the intestine is associated with reduced growth and bone mineralization, and a failure to up-regulate calcium absorption in response to 1α,25(OH)2D3. PMID:26392310

Economic Valuation of Selected Illnesses in Environmental Public Health Tracking.

PubMed

Zhou, Ying; Nurmagambetov, Tursynbek; McCord, Matthew; Hsu, Wan-Hsiang

In benefit-cost analysis of public health programs, health outcomes need to be assigned monetary values so that different health endpoints can be compared and improvement in health can be compared with cost of the program. There are 2 major approaches for estimating economic value of illnesses: willingness to pay (WTP) and cost of illness (COI). In this study, we compared these 2 approaches and summarized valuation estimates for 3 health endpoints included in the Centers for Disease Control and Prevention's National Environmental Public Health Tracking Network-asthma, carbon monoxide (CO) poisoning, and lead poisoning. First, we compared results of WTP and COI estimates reported in the peer-reviewed literature when these 2 methods were applied to the same study participants. Second, we reviewed the availability and summarized valuations using these 2 approaches for 3 health endpoints. For the same study participants, WTP estimates in the literature were higher than COI estimates for minor and moderate cases. For more severe cases, with substantial portion of the costs paid by the third party, COI could exceed WTP. Annual medical cost of asthma based on COI approach ranged from $800 to $3300 and indirect costs ranged from $90 to $1700. WTP to have no asthma symptoms ranged from $580 to $4200 annually. We found no studies estimating WTP to avoid CO or lead poisoning. Cost of a CO poisoning hospitalization ranged from $14 000 to $17 000. For patients who sustained long-term cognitive sequela, lifetime earnings and quality-of-life losses can significantly exceed hospitalization costs. For lead poisoning, most studies focused on lead exposure and cognitive ability, and its impact on lifetime earnings. For asthma, more WTP studies are needed, particularly studies designed for conditions that involve third-party payers. For CO poisoning and lead poisoning, WTP studies need to be conducted so that more comprehensive economic valuation estimates can be provided. When COI

26 CFR 25.2701-2 - Special valuation rules for applicable retained interests.

Code of Federal Regulations, 2010 CFR

2010-04-01

... stock. Assume that at the time of the transfer, the fair market value of X is $1,500,000, and the fair market value of P's annual cumulative dividend right is $1,000,000. Because the preferred stock confers... applying the valuation method of § 25.2701-3, the value of P's preferred stock is its fair market value...

17 CFR 270.2a-1 - Valuation of portfolio securities in special cases.

Code of Federal Regulations, 2010 CFR

2010-04-01

... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Valuation of portfolio securities in special cases. 270.2a-1 Section 270.2a-1 Commodity and Securities Exchanges SECURITIES AND... of portfolio securities in special cases. (a) Any investment company whose securities are qualified...

The dorsomedial prefrontal cortex mediates the interaction between moral and aesthetic valuation: a TMS study on the beauty-is-good stereotype

PubMed Central

Ferrari, Chiara; Nadal, Marcos; Schiavi, Susanna; Vecchi, Tomaso; Cela-Conde, Camilo J.

2017-01-01

Abstract Attractive individuals are perceived as possessing more positive personal traits than unattractive individuals. This reliance on aesthetic features to infer moral character suggests a close link between aesthetic and moral valuation. Here we aimed to investigate the neural underpinnings of the interaction between aesthetic and moral valuation by combining transcranial magnetic stimulation (TMS) with a priming paradigm designed to assess the Beauty-is-Good stereotype. Participants evaluated the trustworthiness of a series of faces (targets), each of which was preceded by an adjective describing desirable, undesirable, or neutral aesthetic qualities (primes). TMS was applied between prime and target to interfere with activity in two regions known to be involved in aesthetic and moral valuation: the dorsomedial prefrontal cortex (dmPFC, a core region in social cognition) and the dorsolateral prefrontal cortex (dlPFC, critical in decision making). Our results showed that when TMS was applied over vertex (control) and over the dlPFC, participants judged faces as more trustworthy when preceded by positive than by negative aesthetic primes (as also shown in two behavioral experiments). However, when TMS was applied over the dmPFC, primes had no effect on trustworthiness judgments. A second Experiment corroborated this finding. Our results suggest that mPFC plays a causal role linking moral and aesthetic valuation. PMID:28158864

Real options valuation and optimization of energy assets

NASA Astrophysics Data System (ADS)

Thompson, Matthew

In this thesis we present algorithms for the valuation and optimal operation of natural gas storage facilities, hydro-electric power plants and thermal power generators in competitive markets. Real options theory is used to derive nonlinear partial-integro-differential equations (PIDEs) for the valuation and optimal operating strategies of all types of facilities. The equations are designed to incorporate a wide class of spot price models that can exhibit the same time-dependent, mean-reverting dynamics and price spikes as those observed in most energy markets. Particular attention is paid to the operational characteristics of real energy assets. For natural gas storage facilities these characteristics include: working gas capacities, variable deliverability and injection rates and cycling limitations. For thermal power plants relevant operational characteristics include variable start-up times and costs, control response time lags, minimum generating levels, nonlinear output functions, structural limitations on ramp rates, and minimum up/down time restrictions. For hydro-electric units, head effects and environmental constraints are addressed. We illustrate the models with numerical examples of a gas storage facility, a hydro-electric pump storage facility and a thermal power plant. This PIDE framework is the first in the literature to achieve second order accuracy in characterizing the operating states of hydro-electric and hydro-thermal power plants. The continuous state space representation derived in this thesis can therefore achieve far greater realism in terms of operating state specification than any other method in the literature to date. This thesis is also the first and only to allow for any continuous time jump diffusion processes in order to account for price spikes.

A Method for Analyzing Volunteered Geographic Information to Visualize Community Valuation of Ecosystem Services

EPA Science Inventory

Volunteered geographic information (VGI) can be used to identify public valuation of ecosystem services in a defined geographic area using photos as a representation of lived experiences. This method can help researchers better survey and report on the values and preferences of s...

12 CFR 223.22 - What valuation and timing principles apply to asset purchases?

Code of Federal Regulations, 2010 CFR

2010-01-01

... 12 Banks and Banking 3 2010-01-01 2010-01-01 false What valuation and timing principles apply to asset purchases? 223.22 Section 223.22 Banks and Banking FEDERAL RESERVE SYSTEM (CONTINUED) BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM TRANSACTIONS BETWEEN MEMBER BANKS AND THEIR AFFILIATES (REGULATION W...

12 CFR 223.21 - What valuation and timing principles apply to credit transactions?

Code of Federal Regulations, 2010 CFR

2010-01-01

... 12 Banks and Banking 3 2010-01-01 2010-01-01 false What valuation and timing principles apply to credit transactions? 223.21 Section 223.21 Banks and Banking FEDERAL RESERVE SYSTEM (CONTINUED) BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM TRANSACTIONS BETWEEN MEMBER BANKS AND THEIR AFFILIATES (REGULATION W...

Construction of an Instrument to Measure Social Valuation in an Emerging Market Context

ERIC Educational Resources Information Center

Katono, Isaac Wasswa

2011-01-01

Purpose: This study aims to construct a parsimonious instrument to measure social valuation in a collective setting using Uganda as an example. Design/methodology/approach: A triangulation technique was used in this study. Conversations with students, parents, teaching and non-teaching staff at Uganda Christian University (UCU) main campus were…

Estimating the welfare loss to households from natural disasters in developing countries: a contingent valuation study of flooding in Vietnam

PubMed Central

Navrud, Ståle; Tuan, Tran Huu; Tinh, Bui Duc

2012-01-01

Background Natural disasters have severe impacts on the health and well-being of affected households. However, we find evidence that official damage cost assessments for floods and other natural disasters in Vietnam, where households have little or no insurance, clearly underestimate the total economic damage costs of these events as they do not include the welfare loss from mortality, morbidity and well-being experienced by the households affected by the floods. This should send a message to the local communities and national authorities that higher investments in flood alleviation, reduction and adaptive measures can be justified since the social benefits of these measures in terms of avoided damage costs are higher than previously thought. Methods We pioneer the use of the contingent valuation (CV) approach of willingness-to-contribute (WTC) labour to a flood prevention program, as a measure of the welfare loss experienced by household due to a flooding event. In a face-to-face household survey of 706 households in the Quang Nam province in Central Vietnam, we applied this approach together with reported direct physical damage in order to shed light of the welfare loss experienced by the households. We asked about households’ WTC labour and multiplied their WTC person-days of labour by an estimate for their opportunity cost of time in order to estimate the welfare loss to households from the 2007 floods. Results The results showed that this contingent valuation (CV) approach of asking about willingness-to-pay in-kind avoided the main problems associated with applying CV in developing countries. Conclusion Thus, the CV approach of WTC labour instead of money is promising in terms of capturing the total welfare loss of natural disasters, and promising in terms of further application in other developing countries and for other types of natural disasters. PMID:22761603

Economic valuation of health care services in public health systems: a study about Willingness to Pay (WTP) for nursing consultations.

PubMed

Martín-Fernández, Jesús; del Cura-González, Ma Isabel; Rodríguez-Martínez, Gemma; Ariza-Cardiel, Gloria; Zamora, Javier; Gómez-Gascón, Tomás; Polentinos-Castro, Elena; Pérez-Rivas, Francisco Javier; Domínguez-Bidagor, Julia; Beamud-Lagos, Milagros; Tello-Bernabé, Ma Eugenia; Conde-López, Juan Francisco; Aguado-Arroyo, Óscar; Sanz-Bayona, Ma Teresa; Gil-Lacruz, Ana Isabel

2013-01-01

Identifying the economic value assigned by users to a particular health service is of principal interest in planning the service. The aim of this study was to evaluate the perception of economic value of nursing consultation in primary care (PC) by its users. Economic study using contingent valuation methodology. A total of 662 users of nursing consultation from 23 health centers were included. Data on demographic and socioeconomic characteristics, health needs, pattern of usage, and satisfaction with provided service were compiled. The validity of the response was evaluated by an explanatory mixed-effects multilevel model in order to assess the factors associated with the response according to the welfare theory. Response reliability was also evaluated. Subjects included in the study indicated an average Willingness to Pay (WTP) of €14.4 (CI 95%: €13.2-15.5; median €10) and an average Willingness to Accept [Compensation] (WTA) of €20.9 (CI 95%: €19.6-22.2; median €20). Average area income, personal income, consultation duration, home visit, and education level correlated with greater WTP. Women and older subjects showed lower WTP. Fixed parameters explained 8.41% of the residual variability, and response clustering in different health centers explained 4-6% of the total variability. The influence of income on WTP was different in each center. The responses for WTP and WTA in a subgroup of subjects were consistent when reassessed after 2 weeks (intraclass correlation coefficients 0.952 and 0.893, respectively). The economic value of nursing services provided within PC in a public health system is clearly perceived by its user. The perception of this value is influenced by socioeconomic and demographic characteristics of the subjects and their environment, and by the unique characteristics of the evaluated service. The method of contingent valuation is useful for making explicit this perception of value of health services.

Estimating the welfare loss to households from natural disasters in developing countries: a contingent valuation study of flooding in Vietnam.

PubMed

Navrud, Ståle; Tuan, Tran Huu; Tinh, Bui Duc

2012-01-01

Natural disasters have severe impacts on the health and well-being of affected households. However, we find evidence that official damage cost assessments for floods and other natural disasters in Vietnam, where households have little or no insurance, clearly underestimate the total economic damage costs of these events as they do not include the welfare loss from mortality, morbidity and well-being experienced by the households affected by the floods. This should send a message to the local communities and national authorities that higher investments in flood alleviation, reduction and adaptive measures can be justified since the social benefits of these measures in terms of avoided damage costs are higher than previously thought. We pioneer the use of the contingent valuation (CV) approach of willingness-to-contribute (WTC) labour to a flood prevention program, as a measure of the welfare loss experienced by household due to a flooding event. In a face-to-face household survey of 706 households in the Quang Nam province in Central Vietnam, we applied this approach together with reported direct physical damage in order to shed light of the welfare loss experienced by the households. We asked about households' WTC labour and multiplied their WTC person-days of labour by an estimate for their opportunity cost of time in order to estimate the welfare loss to households from the 2007 floods. The results showed that this contingent valuation (CV) approach of asking about willingness-to-pay in-kind avoided the main problems associated with applying CV in developing countries. Thus, the CV approach of WTC labour instead of money is promising in terms of capturing the total welfare loss of natural disasters, and promising in terms of further application in other developing countries and for other types of natural disasters.

Assessing quality of life in a clinical study on heart rehabilitation patients: how well do value sets based on given or experienced health states reflect patients' valuations?

PubMed

Leidl, Reiner; Schweikert, Bernd; Hahmann, Harry; Steinacker, Juergen M; Reitmeir, Peter

2016-03-22

Quality of life as an endpoint in a clinical study may be sensitive to the value set used to derive a single score. Focusing on patients' actual valuations in a clinical study, we compare different value sets for the EQ-5D-3L and assess how well they reproduce patients' reported results. A clinical study comparing inpatient (n = 98) and outpatient (n = 47) rehabilitation of patients after an acute coronary event is re-analyzed. Value sets include: 1. Given health states and time-trade-off valuation (GHS-TTO) rendering economic utilities; 2. Experienced health states and valuation by visual analog scale (EHS-VAS). Valuations are compared with patient-reported VAS rating. Accuracy is assessed by mean absolute error (MAE) and by Pearson's correlation ρ. External validity is tested by correlation with established MacNew global scores. Drivers of differences between value sets and VAS are analyzed using repeated measures regression. EHS-VAS had smaller MAEs and higher ρ in all patients and in the inpatient group, and correlated best with MacNew global score. Quality-adjusted survival was more accurately reflected by EHS-VAS. Younger, better educated patients reported lower VAS at admission than the EHS-based value set. EHS-based estimates were mostly able to reproduce patient-reported valuation. Economic utility measurement is conceptually different, produced results less strongly related to patients' reports, and resulted in about 20 % longer quality-adjusted survival. Decision makers should take into account the impact of choosing value sets on effectiveness results. For transferring the results of heart rehabilitation patients from another country or from another valuation method, the EHS-based value set offers a promising estimation option for those decision makers who prioritize patient-reported valuation. Yet, EHS-based estimates may not fully reflect patient-reported VAS in all situations.

Assessment and valuation of forest ecosystem services: State of the science review

Treesearch

Seth Binder; Robert G. Haight; Stephen Polasky; Travis Warziniack; Miranda H. Mockrin; Robert L. Deal; Greg Arthaud

2017-01-01

This review focuses on the assessment and economic valuation of ecosystem services from forest ecosystems—that is, our ability to predict changes in the quantity and value of ecosystem services as a result of specific forest management decisions. It is aimed at forest economists and managers and intended to provide a useful reference to those interested in developing...

Economic valuation of the Emas waterfall, Mogi-Guaçu River, SP, Brazil.

PubMed

Peixer, Janice; Giacomini, Henrique C; Petrere, Miguel

2011-12-01

The Emas waterfall in Mogi-Guaçu River is regionally recognized as an important fishing spot and touristic place. The first reports of the professional and sport fishing there date back from the 30's, which is the same period when the tourism took place. The present paper provides an environmental valuation of this place and an assessment of the differences among the major groups of people using the area. During 2006 we interviewed 33 professional fishers, 107 sport fishers, 45 tourists and 103 excursionists in order to estimate the Willingness to Pay (WTP) for each category and to analyze the influence of socioeconomic factors by means of logistic regressions and ANCOVAs. The WTP of professional fisher was significantly influenced by age and education, and the WTP for the sport fishers was influenced by the family income. The variables that influenced the tourists' and excursionists' WTP were sex and education. The total annual aggregated value to maintain the waterfall in the current conditions was estimated in US$ 11.432.128, and US$ 55.424.283 to restore it.

Vaccines: from valuation to resource allocation.

PubMed

Bloom, David E; Madhavan, Guruprasad

2015-06-08

This review focuses on selected challenges and opportunities concerning broader valuation of vaccines and immunization. The challenges involve conceptualizing and measuring the value of vaccines, while the opportunities relate to the strategic and systematic use of that information in health policy decisions that range from the adoption of particular vaccines in national immunization plans to the allocation of resources to vaccine research, development, and delivery. Clarifying the demonstrable individual, family, and community-level benefits of vaccines will allow the public health community to make better-informed and more meaningful comparisons of the costs of vaccines in relation to their full benefits. Taking advantage of this opportunity will require enhanced data collection and the development of strategic planning tools for transparently assessing trade-offs among the myriad attributes of different vaccines in various social and economic contexts. Copyright © 2015 Elsevier Ltd. All rights reserved.

Effort-based cost-benefit valuation and the human brain

PubMed Central

Croxson, Paula L; Walton, Mark E; O'Reilly, Jill X; Behrens, Timothy EJ; Rushworth, Matthew FS

2010-01-01

In both the wild and the laboratory, animals' preferences for one course of action over another reflect not just reward expectations but also the cost in terms of effort that must be invested in pursuing the course of action. The ventral striatum and dorsal anterior cingulate cortex (ACCd) are implicated in the making of cost-benefit decisions in the rat but there is little information about how effort costs are processed and influence calculations of expected net value in other mammals including the human. We carried out a functional magnetic resonance imaging (fMRI) study to determine whether and where activity in the human brain was available to guide effort-based cost-benefit valuation. Subjects were scanned while they performed a series of effortful actions to obtain secondary reinforcers. At the beginning of each trial, subjects were presented with one of eight different visual cues which they had learned indicated how much effort the course of action would entail and how much reward could be expected at its completion. Cue-locked activity in the ventral striatum and midbrain reflected the net value of the course of action, signaling the expected amount of reward discounted by the amount of effort to be invested. Activity in ACCd also reflected the interaction of both expected reward and effort costs. Posterior orbitofrontal and insular activity, however, only reflected the expected reward magnitude. The ventral striatum and anterior cingulate cortex may be the substrate of effort-based cost-benefit valuation in primates as well as in rats. PMID:19357278

The dorsomedial prefrontal cortex mediates the interaction between moral and aesthetic valuation: a TMS study on the beauty-is-good stereotype.

PubMed

Ferrari, Chiara; Nadal, Marcos; Schiavi, Susanna; Vecchi, Tomaso; Cela-Conde, Camilo J; Cattaneo, Zaira

2017-05-01

Attractive individuals are perceived as possessing more positive personal traits than unattractive individuals. This reliance on aesthetic features to infer moral character suggests a close link between aesthetic and moral valuation. Here we aimed to investigate the neural underpinnings of the interaction between aesthetic and moral valuation by combining transcranial magnetic stimulation (TMS) with a priming paradigm designed to assess the Beauty-is-Good stereotype. Participants evaluated the trustworthiness of a series of faces (targets), each of which was preceded by an adjective describing desirable, undesirable, or neutral aesthetic qualities (primes). TMS was applied between prime and target to interfere with activity in two regions known to be involved in aesthetic and moral valuation: the dorsomedial prefrontal cortex (dmPFC, a core region in social cognition) and the dorsolateral prefrontal cortex (dlPFC, critical in decision making). Our results showed that when TMS was applied over vertex (control) and over the dlPFC, participants judged faces as more trustworthy when preceded by positive than by negative aesthetic primes (as also shown in two behavioral experiments). However, when TMS was applied over the dmPFC, primes had no effect on trustworthiness judgments. A second Experiment corroborated this finding. Our results suggest that mPFC plays a causal role linking moral and aesthetic valuation. © The Author (2017). Published by Oxford University Press.

Implementing GIS in real estate price prediction and mass valuation: the case study of Nicosia District

NASA Astrophysics Data System (ADS)

Yiorkas, Charalambos; Dimopoulos, Thomas

2017-09-01

When the European Commission, International Monetary Fund and European Central Bank arrived in Cyprus to assist for a sustainable solution on the crisis on the banking sector, one of the first things they ordered was a New General Valuation (a mass appraisal that would revalue all properties in Cyprus as on 1st of January 2013), that it would be used for taxation purposes. The above indicates the importance of property mass appraising tools. This task was successfully conducted by the Department of Lands and Surveys. Authors aim to move a step further and implement the use of GIS and GWR techniques to improve the results of the New General Valuation. On a sample of comparative evidences for flats in Nicosia District, GIS was used to measure the impact of spatial attributes on real estate prices and to construct a prediction model in terms of spatially estimating apartment values. In addition to the structural property characteristics, some spatial attributes (landmarks) were also analysed to assess their contribution on the prices of the apartments, including the Central Business District (CBD), schools and universities, as well as the major city roads and the restricted zone that divides the country into two parts; the occupied by Turkish area and the Greek area. The values of the spatial attributes, or locational characteristics, were determined by employing GIS, considering an established model of multicriteria analysis. The price prediction model was analysed using the OLS method and calibrated based on the GWR method. The results of the statistic process indicate an accuracy of 81.34%, showing better performance than the mass valuation system applied by the Department of Land and Surveys in Cyprus with accuracy of 66.76%. This approach suggests that GIS systems are fundamentally important in mass valuation procedures in order to identify the spatial pattern of the attributes, provided that the database is comprised by a sufficient number of comparable

The Q theory of investment, the capital asset pricing model, and asset valuation: a synthesis.

PubMed

McDonald, John F

2004-05-01

The paper combines Tobin's Q theory of real investment with the capital asset pricing model to produce a new and relatively simple procedure for the valuation of real assets using the income approach. Applications of the new method are provided.

Option Price Estimates for Water Quality Improvements: A Contingent Valuation Study for the Monongahela River (1985)

EPA Pesticide Factsheets

This paper presents the findings from a contingent valuation survey designed to estimate the option price bids for the improved recreation resulting from enhanced water quality in the Pennsylvania portion of the Monongahela River.

Valuation of active blind spot detection systems by younger and older adults.

PubMed

Souders, Dustin J; Best, Ryan; Charness, Neil

2017-09-01

Due to their disproportional representation in fatal crashes, younger and older drivers both stand to benefit from in-vehicle safety technologies, yet little is known about how they value such technologies, or their willingness to adopt them. The current study investigated older (aged 65 and greater; N=49) and younger (ages 18-23; N=40) adults' valuation of a blind spot monitor and asked if self-reported visual difficulties while driving predicted the amount participants were willing to pay for a particular system (BMW's Active Blind Spot Detection System) that was demonstrated using a short video. Large and small anchor values ($250 and $500, respectively) were used as between subjects manipulations to examine the effects of initial valuation, and participants proceeded through a short staircase procedure that offered them either the free installation of the system on their current vehicle or a monetary prize ($25-$950) that changed in value according to which option they had selected in the previous step of the staircase procedure. Willingness to use other advanced driver assistance systems (lane-departure warning, automatic lane centering, emergency braking, adaptive cruise control, and self-parking systems) was also analyzed, additionally controlling for prior familiarity of those systems. Results showed that increased age was associated with a higher valuation for the Active Blind Spot Detection System in both the large and small anchor value conditions controlling for income, gender, and technology self-efficacy. Older adults valued blind spot detection about twice as much ($762) as younger adults ($383) in the large anchor condition, though both groups' values were in the range for the current cost of an aftermarket system. Similarly, age was the most robust positive predictor of willingness to adopt other driving technologies, along with system familiarity. Difficulties with driving-related visual factors also positively predicting acceptance levels for

A comparison of cheap talk and alternative certainty calibration techniques in contingent valuation

Treesearch

Mihail Samnaliev; Thomas Stevens; Thomas More

2003-01-01

A field test of cheap talk and two types of certainty calibration in contingent valuation of public lands indicated that cheap talk does not reduce WTP estimates. Use of a ten point certainty calibration scale reduces WTP estimates by about half. However, adjusting for uncertainty using a 'Not Sure' option does not reduce WTP estimates but increases the...

Teacher Valuation and Use of Posters to Promote Sustainability of Wetlands in Kenya

ERIC Educational Resources Information Center

Ndaruga, Ayub Macharia

2009-01-01

Posters have a long history of use as tools to promote awareness on diverse issues including environmental conservation. A study was done using 39 primary school teachers in Kenya to explore their valuation and use of a wetlands poster during their teaching at school and within the community. The teachers were sampled using a non-purposive,…

Ecosystems, ecological restoration, and economics: does habitat or resource equivalency analysis mean other economic valuation methods are not needed?

PubMed

Shaw, W Douglass; Wlodarz, Marta

2013-09-01

Coastal and other area resources such as tidal wetlands, seagrasses, coral reefs, wetlands, and other ecosystems are often harmed by environmental damage that might be inflicted by human actions, or could occur from natural hazards such as hurricanes. Society may wish to restore resources to offset the harm, or receive compensation if this is not possible, but faces difficult choices among potential compensation projects. The optimal amount of restoration efforts can be determined by non-market valuation methods, service-to-service, or resource-to-resource approaches such as habitat equivalency analysis (HEA). HEA scales injured resources and lost services on a one-to-one trade-off basis. Here, we present the main differences between the HEA approach and other non-market valuation approaches. Particular focus is on the role of the social discount rate, which appears in the HEA equation and underlies calculations of the present value of future damages. We argue that while HEA involves elements of economic analysis, the assumption of a one-to-one trade-off between lost and restored services sometimes does not hold, and then other non-market economic valuation approaches may help in restoration scaling or in damage determination.

Dissonance-Based Eating Disorder Prevention Program Reduces Reward Region Response to Thin Models; How Actions Shape Valuation

PubMed Central

Stice, Eric; Yokum, Sonja; Waters, Allison

2015-01-01

Research supports the effectiveness of a dissonance-based eating disorder prevention program wherein high-risk young women with body dissatisfaction critique the thin ideal, which reduces pursuit of this ideal, and the theory that dissonance induction contributes to these effects. Based on evidence that dissonance produces attitudinal change by altering neural representation of valuation, we tested whether completing the Body Project would reduce response of brain regions implicated in reward valuation to thin models. Young women with body dissatisfaction were randomized to this intervention or an educational control condition, completing assessments and fMRI scans while viewing images of thin versus average-weight female models at pre and post. Whole brain analyses indicated that, compared to controls, Body Project participants showed greater reductions in caudate response to images of thin versus average-weight models, though participants in the two conditions showed pretest differences in responsivity of other brain regions that might have contributed to this effect. Greater pre-post reductions in caudate and putamen response to thin models correlated with greater reductions in body dissatisfaction. The finding that the Body Project reduces caudate response to thin models provides novel preliminary evidence that this intervention reduces valuation of media images thought to contribute to body dissatisfaction and eating disorders, providing support for the intervention theory by documenting that this intervention alters an objective biological outcome. PMID:26641854

Dissonance-Based Eating Disorder Prevention Program Reduces Reward Region Response to Thin Models; How Actions Shape Valuation.

PubMed

Stice, Eric; Yokum, Sonja; Waters, Allison

2015-01-01

Research supports the effectiveness of a dissonance-based eating disorder prevention program wherein high-risk young women with body dissatisfaction critique the thin ideal, which reduces pursuit of this ideal, and the theory that dissonance induction contributes to these effects. Based on evidence that dissonance produces attitudinal change by altering neural representation of valuation, we tested whether completing the Body Project would reduce response of brain regions implicated in reward valuation to thin models. Young women with body dissatisfaction were randomized to this intervention or an educational control condition, completing assessments and fMRI scans while viewing images of thin versus average-weight female models at pre and post. Whole brain analyses indicated that, compared to controls, Body Project participants showed greater reductions in caudate response to images of thin versus average-weight models, though participants in the two conditions showed pretest differences in responsivity of other brain regions that might have contributed to this effect. Greater pre-post reductions in caudate and putamen response to thin models correlated with greater reductions in body dissatisfaction. The finding that the Body Project reduces caudate response to thin models provides novel preliminary evidence that this intervention reduces valuation of media images thought to contribute to body dissatisfaction and eating disorders, providing support for the intervention theory by documenting that this intervention alters an objective biological outcome.

Do alcohol expectancy outcomes and valuations mediate peer influences and lifetime alcohol use among early adolescents?

PubMed

Zamboanga, Byron L; Schwartz, Seth J; Ham, Lindsay S; Jarvis, Lorna Hernandez; Olthuis, Janine V

2009-12-01

Building on the theory of reasoned action (I. Ajzen & M. Fishbein, 1973, 1980; M. Fishbein & I. Ajzen, 1975) and expectancy theory, the authors examined the mediating role of alcohol expectancies in adolescent drinking behaviors by testing whether alcohol expectancy outcomes and valuations (the extent to which these outcomes are perceived as good or bad) mediate the association between peer influences and lifetime alcohol use. Early adolescents (N = 904) from 2 public middle schools in western Michigan completed a battery of questionnaires. Overall, results showed that alcohol expectancies and valuations partially mediated the relations between peer influences (peer use and peer approval) and lifetime alcohol use. The findings suggest that associating with peers who are perceived as using alcohol and approving of drinking may influence adolescents' alcohol expectancies. The authors briefly discuss future research directions and implications for prevention.

30 CFR 210.153 - What reports must I submit for Indian gas valuation purposes?

Code of Federal Regulations, 2010 CFR

2010-07-01

... INTERIOR MINERALS REVENUE MANAGEMENT FORMS AND REPORTS Special-Purpose Forms and Reports-Oil, Gas, and Geothermal Resources § 210.153 What reports must I submit for Indian gas valuation purposes? (a) General. For... 30 Mineral Resources 2 2010-07-01 2010-07-01 false What reports must I submit for Indian gas...

EXPERIMENTING WITH MULTI-ATTRIBUTE UTILITY SURVEY METHODS IN A MULTI-DIMENSIONAL VALUATION PROBLEM. (R824699)

EPA Science Inventory

Abstract

The use of willingness-to-pay (WTP) survey techniques based on multi-attribute utility (MAU) approaches has been recommended by some authors as a way to deal simultaneously with two difficulties that increasingly plague environmental valuation. The first of th...

26 CFR 1.6662-5T - Substantial and gross valuation misstatements under chapter 1 (temporary).

Code of Federal Regulations, 2010 CFR

2010-04-01

..., DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Additions to the Tax, Additional... persons). (iii) Property. For purposes of this section, the term property refers to both tangible and... adjustments. For rules relating to the penalty imposed with respect to a substantial or gross valuation...

76 FR 67105 - Cash Balance Plans; Benefit Determinations and Plan Valuations for Statutory Hybrid Plans...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-10-31

... Balance Plans; Benefit Determinations and Plan Valuations for Statutory Hybrid Plans; Pension Protection... rules for determining benefits upon the termination of a statutory hybrid plan, such as a cash balance... cash balance plan presents unique issues for PBGC.\\2\\ In contrast to a traditional defined benefit plan...

A study of the user's perception of economic value in nursing visits to primary care by the method of contingent valuation.

PubMed

Martín-Fernández, Jesús; Pérez-Rivas, Francisco Javier; Gómez-Gascón, Tomás; del Cura-González, Isabel; Tello Bernabé, Eugenia; Rodríguez-Martínez, Gemma; Polentinos-Castro, Elena; Domínguez-Bidagor, Julia; Ariza-Cardiel, Gloria; Conde-López, Juan Francisco; Beamud-Lagos, Milagros; Aguado-Arroyo, Oscar; Sanz-Bayona, Teresa; Gil-Lacruz, Ana Isabel

2011-10-03

The identification of the attribution of economic value that users of a health system assign to a health service could be useful in planning these services. The method of contingent valuation can provide information about the user's perception of value in monetary terms, and therefore comparable between services of a very different nature. This study attempts to extract the economic value that the subject, user of primary care nursing services in a public health system, attributes to this service by the method of contingent valuation, based on the perspectives of Willingness to Pay (WTP) and Willingness to Accept [Compensation] (WTA). This is an economic study with a transversal design. The contingent valuation method will be used to estimate the user's willingness to pay (WTP) for the care received from the primary care nurse and the willingness to accept [compensation] (WTA), were this service eliminated. A survey that meets the requisites of the contingent valuation method will be constructed and pilot-tested. Subsequently, 600 interviews will be performed with subjects chosen by systematic randomized sampling from among those who visit nursing at twenty health centers with different socioeconomic characteristics in the Community of Madrid. The characteristics of the subject and of the care received that can explain the variations in WTP, WTA and in the WTP/WTA ratio expressed will be studied. A theoretical validation of contingent valuation will be performed constructing two explanatory multivariate mixed models in which the dependent variable will be WTP, and the WTP/WTA relationship, respectively. The identification of the attribution of economic value to a health service that does not have a direct price at the time of use, such as a visit to primary care nursing, and the definition of a profile of "loss aversion" in reference to the service evaluated, can be relevant elements in planning, enabling incorporating patient preferences to health policy decision-making.

A study of the user's perception of economic value in nursing visits to primary care by the method of contingent valuation

PubMed Central

2011-01-01

Background The identification of the attribution of economic value that users of a health system assign to a health service could be useful in planning these services. The method of contingent valuation can provide information about the user's perception of value in monetary terms, and therefore comparable between services of a very different nature. This study attempts to extract the economic value that the subject, user of primary care nursing services in a public health system, attributes to this service by the method of contingent valuation, based on the perspectives of Willingness to Pay (WTP) and Willingness to Accept [Compensation] (WTA). Methods/Design This is an economic study with a transversal design. The contingent valuation method will be used to estimate the user's willingness to pay (WTP) for the care received from the primary care nurse and the willingness to accept [compensation] (WTA), were this service eliminated. A survey that meets the requisites of the contingent valuation method will be constructed and pilot-tested. Subsequently, 600 interviews will be performed with subjects chosen by systematic randomized sampling from among those who visit nursing at twenty health centers with different socioeconomic characteristics in the Community of Madrid. The characteristics of the subject and of the care received that can explain the variations in WTP, WTA and in the WTP/WTA ratio expressed will be studied. A theoretical validation of contingent valuation will be performed constructing two explanatory multivariate mixed models in which the dependent variable will be WTP, and the WTP/WTA relationship, respectively. Discussion The identification of the attribution of economic value to a health service that does not have a direct price at the time of use, such as a visit to primary care nursing, and the definition of a profile of "loss aversion" in reference to the service evaluated, can be relevant elements in planning, enabling incorporating patient

Pavlovian valuation systems in learning and decision making

PubMed Central

Clark, Jeremy J.; Hollon, Nick G.; Phillips, Paul E. M.

2012-01-01

Environmental stimuli guide value-based decision making, but can do so through cognitive representation of outcomes or through general-incentive properties attributed to the cues themselves. We assert that these differences are conferred through the use of alternative associative structures differing in computational intensity. Using this framework, we review scientific evidence to discern the neural substrates of these assumed separable processes. We suggest that the contribution of the mesolimbic dopamine system to Pavlovian valuation is restricted to an affective system that is only updated through experiential feedback of stimulus-outcome pairing, whereas the orbitofrontal cortex contributes to an alternative system capable of inferential reasoning. Finally we discuss the interactions and convergence of these systems and their implications for decision making and its pathology. PMID:22749132

Application and project portfolio valuation using enterprise architecture and business requirements modelling

NASA Astrophysics Data System (ADS)

Quartel, Dick; Steen, Maarten W. A.; Lankhorst, Marc M.

2012-05-01

This article describes an architecture-based approach to IT valuation. This approach offers organisations an instrument to valuate their application and project portfolios and to make well-balanced decisions about IT investments. The value of a software application is assessed in terms of its contribution to a selection of business goals. Based on such assessments, the value of different applications can be compared, and requirements for innovation, development, maintenance and phasing out can be identified. IT projects are proposed to realise the requirements. The value of each project is assessed in terms of the value it adds to one or more applications. This value can be obtained by relating the 'as-is' application portfolio to the 'to-be' portfolio that is being proposed by the project portfolio. In this way, projects can be ranked according to their added value, given a certain selection of business goals. The approach uses ArchiMate to model the relationship between software applications, business processes, services and products. In addition, two language extensions are used to model the relationship of these elements to business goals and requirements and to projects and project portfolios. The approach is illustrated using the portfolio method of Bedell and has been implemented in BiZZdesign Architect.

Valuation Challenges of Riparian Restoration in a Dynamic Decision Support Context: What Could Possibly Go Wrong?

EPA Science Inventory

A dynamic simulation model is constructed to compare benefit-cost ratios of riparian restoration options for the Middle Rio Grande riparian corridor in Albuquerque, New Mexico, USA. The model is built from original choice experiment valuation data, regional benefit-transfer studi...

Nitrogen, ecosystem services and environmental justice: How can a spatial valuation approach inform responsible nutrient management?

EPA Science Inventory

Spatially-explicit ecosystem service valuation (ESV) allows for the identification of the location and magnitude of services provided by natural ecosystems along with an economic measure of their value based upon benefit transfer. While this provides an important function in term...

Pesticides and health: a review of evidence on health effects, valuation of risks, and benefit-cost analysis.

PubMed

Tago, Damian; Andersson, Henrik; Treich, Nicolas

2014-01-01

This study presents literature reviews for the period 2000-2013 on (i) the health effects of pesticides and on (ii) preference valuation of health risks related to pesticides, as well as a discussion of the role of benefit-cost analysis applied to pesticide regulatory measures. This study indicates that the health literature has focused on individuals with direct exposure to pesticides, i.e. farmers, while the literature on preference valuation has focused on those with indirect exposure, i.e. consumers. The discussion highlights the need to clarify the rationale for regulating pesticides, the role of risk perceptions in benefit-cost analysis, and the importance of inter-disciplinary research in this area. This study relates findings of different disciplines (health, economics, public policy) regarding pesticides, and identifies gaps for future research.

Valuation of Drug Abuse: A Review of Current Methodologies and Implications for Policy Making

ERIC Educational Resources Information Center

Schori, Maayan

2011-01-01

This article reviews the use of several valuation methods as they relate to drug abuse and places them within the context of U.S. policy. First, cost-of-illness (COI) studies are reviewed and their limitations discussed. Second, three additional economic methods of valuing drug abuse are reviewed, including cost-effectiveness analysis (CEA),…

Distinct patterns of outcome valuation and amygdala-prefrontal cortex synaptic remodeling in adolescence and adulthood

PubMed Central

Stolyarova, Alexandra; Izquierdo, Alicia

2015-01-01

Adolescent behavior is typified by increased risk-taking, reward- and novelty-seeking, as well as an augmented need for social and environmental stimulation. This behavioral phenotype may result from alterations in outcome valuation or reward learning. In the present set of experiments, we directly compared adult and adolescent animals on tasks measuring both of these processes. Additionally, we examined developmental differences in dopamine D1-like receptor (D1R), dopamine D2-like receptor (D2R), and polysialylated neural cell adhesion molecule (PSA-NCAM) expression in animals that were trained on an effortful reward valuation task, given that these proteins play an important role in the functional development of the amygdala-prefrontocortical (PFC) circuit and mesocorticolimbic dopamine system. We found that adolescent animals were not different from adults in appetitive associative learning, but exhibited distinct pattern of responses to differences in outcome values, which was paralleled by an enhanced motivation to invest effort to obtain larger rewards. There were no differences in D2 receptor expression, but D1 receptor expression was significantly reduced in the striatum of animals that had experiences with reward learning during adolescence compared to animals that went through the same experiences in adulthood. We observed increased levels of PSA-NCAM expression in both PFC and amygdala of late adolescents compared to adults that were previously trained on an effortful reward valuation task. PSA-NCAM levels in PFC were strongly and positively associated with high effort/reward (HER) choices in adolescents, but not in adult animals. Increased levels of PSA-NCAM expression in adolescents may index increased structural plasticity and represent a neural correlate of a reward sensitive endophenotype. PMID:25999830

DISCOURS QUI RÉSISTENT À L’OBJECTIVATION : QUE PEUT-ON EN TIRER POUR L’ÉVALUATION?

PubMed Central

Brousselle, Astrid

2013-01-01

Résumé L’évaluateur doit porter attention aux distorsions qu’il contribue à créer lorsqu’il utilise l’entrevue comme méthode de collecte de données. L’évaluation est un exercice politique qui, placé dans un contexte politique, peut favoriser l’émergence de discours de résistance à l’objectivation. À partir des entrevues que nous avons effectuées lors de l’évaluation du processus d’implantation de l’initiative ONUSIDA d’accès aux médicaments au Chili, nous illustrons différentes tactiques que les acteurs utilisent et qui peuvent soit attirer la sympathie de l’évaluateur, soit faire obstacle à son besoin d’information. Nous présentons une méthode d’analyse que l’évaluateur peut utiliser pour redonner du sens aux discours de résistance. PMID:23997421

Classification and valuation of postoperative complications in a randomized trial of open versus laparoscopic ventral herniorrhaphy.

PubMed

Kaafarani, H M A; Hur, K; Campasano, M; Reda, D J; Itani, K M F

2010-06-01

Generic instruments used for the valuation of health states (e.g., EuroQol) often lack sensitivity to notable differences that are relevant to particular diseases or interventions. We developed a valuation methodology specifically for complications following ventral incisional herniorrhaphy (VIH). Between 2004 and 2006, 146 patients were prospectively randomized to undergo laparoscopic (n = 73) or open (n = 73) VIH. The primary outcome of the trial was complications at 8 weeks. A three-step methodology was used to assign severity weights to complications. First, each complication was graded using the Clavien classification. Second, five reviewers were asked to independently and directly rate their perception of the severity of each class using a non-categorized visual analog scale. Zero represented an uncomplicated postoperative course, while 100 represented postoperative death. Third, the median, lowest, and highest values assigned to each class of complications were used to derive weighted complication scores for open and laparoscopic VIH. Open VIH had more complications than laparoscopic VIH (47.9 vs. 31.5%, respectively; P = 0.026). However, complications of laparoscopic VIH were more severe than those of open VIH. Non-parametric analysis revealed a statistically higher weighted complication score for open VIH (interquartile range: 0-20 for open vs. 0-10 for laparoscopic; P = 0.049). In the sensitivity analysis, similar results were obtained using the median, highest, and lowest weights. We describe a new methodology for the valuation of complications following VIH that allows a direct outcome comparison of procedures with different complication profiles. Further testing of the validity, reliability, and generalizability of this method is warranted.

17 CFR 270.2a41-1 - Valuation of standby commitments by registered investment companies.

Code of Federal Regulations, 2010 CFR

2010-04-01

..., and will be considered to be from the party to whom the investment company will look for payment of... standby commitment is not used to affect the company's valuation of the security or securities underlying the standby commitment; and (2) Any consideration paid by the company for the standby commitment...

An Investigation into Appraisal Bias: The Role of Decision Support Tools in Debiasing Valuation Judgments

ERIC Educational Resources Information Center

Tidwell, Owen Alan

2011-01-01

Given the nature of the valuation task environment appraisers are often made aware of previous value opinions rendered by appraisers, commonly in the form of an historic appraisal. And, because an appraisal task involves the rendering of market value, a hypothetical, unobservable construct based on probabilities, direct feedback against this…

[Valuation and prospect of function preserving gastrectomy].

PubMed

Wang, Shuchang; Yu, Site; Xu, Jia; Zhao, Gang

2017-10-25

Preserving gastric function and improving quality of life (QOL) is the tendency of surgery for early gastric cancer. Function preserving gastrectomy (FPG) is applied to modify the extent of surgery and to achieve better quality of life at the premise of radical resection. Pylorus-preserving gastrectomy is the most favorable approach of FPG with oncological safety, which can improve nutritional status and QOL via preserving pylorus and vagal nerve. Proximal gastrectomy is widely accepted as FPG for early upper 1/3 gastric cancer. However, the most optimal way of anastomosis is not yet solved. Sentinel node navigation is currently the most accurate approach for intraoperative diagnosis of lymph node metastasis, which stimulates the development of many kinds of FPG procedures for individual treatment. Nevertheless, more efforts should be made to reduce false negative rate of sentinel node biopsy. Herein we discuss the valuation and prospect of FPG.

Cadastral valuation of lands polluted with radionuclides

NASA Astrophysics Data System (ADS)

Makarov, O. A.; Tsvetnov, E. V.; Shcheglov, A. I.; Romashkina, A. D.; Ermiyaev, Ya. R.

2016-11-01

The major method to correct the cadastral value of land for contamination with radionuclides is to reduce it by the sum of expenses necessary for land remediation and for special measures ensuring the obtaining of agricultural and forestry products satisfying safety norms. Lands contaminated with radionuclides and used in agriculture and forestry are often removed from the system of land taxation. In this case, their cadastral value becomes an excessive element of the state cadaster of real estate. An approach toward cadastral valuation of such lands suggested by the authors assumes the creation of a system of compensation payments as the main source of financing of land rehabilitation and soil conservation measures. An original system of calculation of such payments has been tested for radioactively contaminated lands in Plavsk district of Tula oblast. It is argued that compensation payments for radioactively contaminated agrocenoses should be higher than those for natural cenoses.

Economic Valuation of Health Care Services in Public Health Systems: A Study about Willingness to Pay (WTP) for Nursing Consultations

PubMed Central

Martín-Fernández, Jesús; del Cura-González, Mª Isabel; Rodríguez-Martínez, Gemma; Ariza-Cardiel, Gloria; Zamora, Javier; Gómez-Gascón, Tomás; Polentinos-Castro, Elena; Pérez-Rivas, Francisco Javier; Domínguez-Bidagor, Julia; Beamud-Lagos, Milagros; Tello-Bernabé, Mª Eugenia; Conde-López, Juan Francisco; Aguado-Arroyo, Óscar; Bayona, Mª Teresa Sanz-; Gil-Lacruz, Ana Isabel

2013-01-01

Background Identifying the economic value assigned by users to a particular health service is of principal interest in planning the service. The aim of this study was to evaluate the perception of economic value of nursing consultation in primary care (PC) by its users. Methods and Results Economic study using contingent valuation methodology. A total of 662 users of nursing consultation from 23 health centers were included. Data on demographic and socioeconomic characteristics, health needs, pattern of usage, and satisfaction with provided service were compiled. The validity of the response was evaluated by an explanatory mixed-effects multilevel model in order to assess the factors associated with the response according to the welfare theory. Response reliability was also evaluated. Subjects included in the study indicated an average Willingness to Pay (WTP) of €14.4 (CI 95%: €13.2–15.5; median €10) and an average Willingness to Accept [Compensation] (WTA) of €20.9 (CI 95%: €19.6–22.2; median €20). Average area income, personal income, consultation duration, home visit, and education level correlated with greater WTP. Women and older subjects showed lower WTP. Fixed parameters explained 8.41% of the residual variability, and response clustering in different health centers explained 4–6% of the total variability. The influence of income on WTP was different in each center. The responses for WTP and WTA in a subgroup of subjects were consistent when reassessed after 2 weeks (intraclass correlation coefficients 0.952 and 0.893, respectively). Conclusions The economic value of nursing services provided within PC in a public health system is clearly perceived by its user. The perception of this value is influenced by socioeconomic and demographic characteristics of the subjects and their environment, and by the unique characteristics of the evaluated service. The method of contingent valuation is useful for making explicit this perception of value of

Post-learning infusion of anisomycin into the anterior cingulate cortex impairs instrumental acquisition through an effect on reinforcer valuation

PubMed Central

Jonkman, Sietse; Everitt, Barry J.

2009-01-01

The integrity of the rodent anterior cingulate cortex (ACC) is essential for various aspects of instrumental behavior, but it is not clear if the ACC is important for the acquisition of a simple instrumental response. Here, it was demonstrated that post-session infusions of anisomycin into the rat ACC completely prevented the acquisition of instrumental responding. The experimental use of post-session intracranial infusions of plasticity inhibitors is assumed to affect local consolidation of plasticity, but not behavioral task performance. However, in associative appetitive conditioning, post-session intracranial infusion of pharmaco-active compounds could actually interfere with subsequent task performance indirectly through retrospective effects on the valuation of ingested rewards. Thus, it was subsequently demonstrated that the intracranial infusion of anisomycin into the ACC after sucrose pellet consumption significantly reduced subsequent pellet consumption, suggesting that the infusion of anisomycin into the ACC produced conditioned taste avoidance. In the third experiment, an innovative procedure was introduced that dissociated the effects of intracranial infusions after conditioning sessions on task-learning and unconditioned stimulus valuation. With this procedure, the infusion of anisomycin into the ACC after instrumental sessions did not affect instrumental reinforcer valuation or the acquisition of instrumental responding, suggesting that plasticity in the ACC is not necessary for the acquisition of instrumental behavior. PMID:19864297

Replacement Beef Cow Valuation under Data Availability Constraints

PubMed Central

Hagerman, Amy D.; Thompson, Jada M.; Ham, Charlotte; Johnson, Kamina K.

2017-01-01

Economists are often tasked with estimating the benefits or costs associated with livestock production losses; however, lack of available data or absence of consistent reporting can reduce the accuracy of these valuations. This work looks at three potential estimation techniques for determining the value for replacement beef cows with varying types of market data to proxy constrained data availability and discusses the potential margin of error for each technique. Oklahoma bred replacement cows are valued using hedonic pricing based on Oklahoma bred cow data—a best case scenario—vector error correction modeling (VECM) based on national cow sales data and cost of production (COP) based on just a representative enterprise budget and very limited sales data. Each method was then used to perform a within-sample forecast of 2016 January to December, and forecasts are compared with the 2016 monthly observed market prices in Oklahoma using the mean absolute percent error (MAPE). Hedonic pricing methods tend to overvalue for within-sample forecasting but performed best, as measured by MAPE for high quality cows. The VECM tended to undervalue cows but performed best for younger animals. COP performed well, compared with the more data intensive methods. Examining each method individually across eight representative replacement beef female types, the VECM forecast resulted in a MAPE under 10% for 33% of forecasted months, followed by hedonic pricing at 24% of the forecasted months and COP at 14% of the forecasted months for average quality beef females. For high quality females, the hedonic pricing method worked best producing a MAPE under 10% in 36% of the forecasted months followed by the COP method at 21% of months and the VECM at 14% of the forecasted months. These results suggested that livestock valuation method selection was not one-size-fits-all and may need to vary based not only on the data available but also on the characteristics (e.g., quality or age) of the

Health care contingent valuation studies: a review and classification of the literature.

PubMed

Diener, A; O'Brien, B; Gafni, A

1998-06-01

The contingent valuation method (CVM) is a survey-based approach for eliciting consumer's monetary valuations for programme benefits for use in cost-benefit analysis (CBA). We used the conceptual framework of O'Brien and Gafni (1996) to classify and critically appraise health care CVM studies. Search of computerized health care and economic citation databases (e.g. MEDLINE, ECONLIT) and manual search for papers published between 1984 1996 reporting primary data valuing health programme benefits in monetary units by CVM using willingness-to-pay (WTP) or accept (WTA). We classified studies using both empirical (i.e. who was surveyed and how) and conceptual criteria (i.e. which measure of consumer utility was measured and why). 48 CVM studies were retrieved; the majority (42) undertook money valuation in the context of cost benefit analysis (CBA), with the remainder being pricing/demand studies. Among the 42 CBA studies, the consumer utility being measured (i.e. compensating (CV) vs. equivalent variation (EV) was explicitly stated in only three (7%) studies). WTP was measured in 95% of studies and WTA in 5%. By cross-tabulation, 42 (91%) studies were designed as WTP/CV, two (4%) were WTP/EV, two (4%) were WTA/CV and no studies used WTA/EV. Most studies were administered by mail (52%) with 38% being in-person interviews. Value elicitation techniques included open-ended questions (38%), payment cards (19%) discrete choice questions (26%) or bidding games (29%). Some form of construct validation tests, particularly associations between WTP and income, were done in 21 studies (50%). (i) The number of health care CVM studies is growing rapidly and the majority are done in the context of CBA; (ii) there is wide variation among health care CVM studies in terms of the types of questions being posed and the elicitation formats being used; (iii) classification and appraisal of the literature is difficult because reporting of methods and their relationship with the conceptual

Early-stage valuation of medical devices: the role of developmental uncertainty.

PubMed

Girling, Alan; Young, Terry; Brown, Celia; Lilford, Richard

2010-08-01

At the concept stage, many uncertainties surround the commercial viability of a new medical device. These include the ultimate functionality of the device, the cost of producing it and whether, and at what price, it can be sold to a health-care provider (HCP). Simple assessments of value can be made by estimating such unknowns, but the levels of uncertainty may mean that their operational value for investment decisions is unclear. However, many decisions taken at the concept stage are reversible and will be reconsidered later before the product is brought to market. This flexibility can be exploited to enhance early-stage valuations. To develop a framework for valuing a new medical device at the concept stage that balances benefit to the HCP against commercial costs. This is done within a simplified stage-gated model of the development cycle for new products. The approach is intended to complement existing proposals for the evaluation of the commercial headroom available to new medical products. A model based on two decision gates can lead to lower bounds (underestimates) for product value that can serve to support a decision to develop the product. Quantifiable uncertainty that can be resolved before the device is brought to market will generally enhance early-stage valuations of the device, and this remains true even when some components of uncertainty cannot be fully described. Clinical trials and other evidence-gathering activities undertaken as part of the development process can contribute to early-stage estimates of value.

Explaining the discrepancy between intentions and actions: the case of hypothetical bias in contingent valuation

Treesearch

Icek Ajzen; Thomas C. Brown; Franklin Carvajal

2004-01-01

An experiment was designed to account for intention-behavior discrepancies by applying the theory of planned behavior to contingent valuation. College students (N = 160) voted in hypothetical and real payment referenda to contribute $8 to a scholarship fund. Overestimates of willingness to pay in the hypothetical referendum could not be attributed to moderately...

26 CFR 1.6662-5T - Substantial and gross valuation misstatements under chapter 1 (temporary).

Code of Federal Regulations, 2011 CFR

2011-04-01

... under chapter 1 (temporary). 1.6662-5T Section 1.6662-5T Internal Revenue INTERNAL REVENUE SERVICE..., Additional Amounts, and Assessable Penalties § 1.6662-5T Substantial and gross valuation misstatements under chapter 1 (temporary). (a)-(e)(3) [Reserved]. For further information, see § 1.6662-5(a) through (e)(3...

Methods of Economic Valuation of The Health Risks Associated with Nanomaterials

NASA Astrophysics Data System (ADS)

Shalhevet, S.; Haruvy, N.

The worldwide market for nanomaterials is growing rapidly, but relatively little is still known about the potential risks associated with these materials. The potential health hazards associated with exposure to nanomaterials may lead in the future to increased health costs as well as increased economic costs to the companies involved, as has happened in the past in the case of asbestos. Therefore, it is important to make an initial estimate of the potential costs associated with these health hazards, and to prepare ahead with appropriate health insurance for individuals and financial insurance for companies. While several studies have examined the environmental and health hazards of different nanomaterials by performing life cycle impact assessments, so far these studies have concentrated on the cost of production, and did not estimate the economic impact of the health hazards. This paper discusses methods of evaluating the economic impact of potential health hazards on the public. The proposed method is based on using life cycle impact assessment studies of nanomaterials to estimate the DALYs (Disability Adjusted Life Years) associated with the increased probability of these health hazards. The economic valuation of DALY's can be carried out based on the income lost and the costs of medical treatment. The total expected increase in cost depends on the increase in the statistical probability of each disease.

Contingent Valuation Analysis of an Otolaryngology and Ophthalmology Emergency Department: The Value of Acute Specialty Care.

PubMed

Naunheim, Matthew R; Kozin, Elliot D; Sethi, Rosh K; Ota, H G; Gray, Stacey T; Shrime, Mark G

2017-03-01

Specialty emergency departments (EDs) provide a unique mechanism of health care delivery, but the value that they add to the medical system is not known. Evaluation of patient preferences to determine value can have a direct impact on resource allocation and direct-to-specialist care. To assess the feasibility of contingent valuation (CV) methodology using a willingness-to-pay (WTP) survey to evaluate specialty emergency services, in the context of an ophthalmology- and otolaryngology-specific ED. Contingent valuation analysis of a standalone otolaryngology and ophthalmology ED. Participants were English-speaking adults presenting to a dedicated otolaryngology and ophthalmology ED. The WTP questions were assessed using a payment card format, with reference to an alternative modality of treatment (ie, general ED), and were analyzed with multivariate regression. Validated WTP survey administered from October 14, 2014, through October 1, 2015. Sociodemographic data, level of distress, referral data, income, and WTP. A total of 327 of 423 (77.3%) ED patients responded to the WTP survey, with 116 ophthalmology and 211 otolaryngology patients included (52.3% female; mean [range] age, 46 [18-90] years). The most common reason for seeking care at this facility was a reputation for specialty care for both ear, nose, and throat (80 [37.9%]) and ophthalmology (43 [37.1%]). Mean WTP for specialty-specific ED services was $377 for ophthalmology patients, and $321 for otolaryngology patients ($340 overall; 95% CI, $294 to $386), without significant difference between groups (absolute difference, $56; 95% CI, $-156 to $43). Self-reported level of distress was higher among ear, nose, and throat vs ophthalmology patients (absolute difference, 0.47 on a Likert scale of 1-7; 95% CI, 0.10 to 0.84). Neither level of distress, income, nor demographic characteristics influenced WTP, but patients with higher estimates of total visit cost were more likely to have higher WTP (β coefficient

75 FR 71733 - Requirements for Measurement Facilities Used for the Royalty Valuation of Processed Natural Gas

Federal Register 2010, 2011, 2012, 2013, 2014

2010-11-24

... measurement of inlet production, residue gas, fuel gas, flare gas, condensate, natural gas liquids, or any... governing gas and liquid hydrocarbon production measurement. We have recently completed the first phase of... Requirements for Measurement Facilities Used for the Royalty Valuation of Processed Natural Gas AGENCY: Bureau...

Measuring the willingness to pay for drinking water quality improvements: results of a contingent valuation survey in Songzi, China.

PubMed

Jianjun, Jin; Wenyu, Wang; Ying, Fan; Xiaomin, Wang

2016-06-01

The aim of this study is to elicit local residents' willingness to pay (WTP), by applying the contingent valuation method as a surcharge on their water bill, for a given improvement in the drinking water quality and the supply reliability. The mean WTP for the drinking water quality improvement program was estimated to be 16.71 yuan (0.3% of total household income). The results note that more educated respondents and households with higher income and with fewer household members are, on average, willing to pay more. This study also demonstrates that respondents' concerns regarding drinking water quality and perceptions of the health risk of drinking water quality can have significant positive impacts on people's WTP. The research results can help decision-makers understand the local population's demand for improved drinking water quality and undertake an environmental cost-benefit analysis.

Systems resilience for multihazard environments: definition, metrics, and valuation for decision making.

PubMed

Ayyub, Bilal M

2014-02-01

The United Nations Office for Disaster Risk Reduction reported that the 2011 natural disasters, including the earthquake and tsunami that struck Japan, resulted in $366 billion in direct damages and 29,782 fatalities worldwide. Storms and floods accounted for up to 70% of the 302 natural disasters worldwide in 2011, with earthquakes producing the greatest number of fatalities. Average annual losses in the United States amount to about $55 billion. Enhancing community and system resilience could lead to massive savings through risk reduction and expeditious recovery. The rational management of such reduction and recovery is facilitated by an appropriate definition of resilience and associated metrics. In this article, a resilience definition is provided that meets a set of requirements with clear relationships to the metrics of the relevant abstract notions of reliability and risk. Those metrics also meet logically consistent requirements drawn from measure theory, and provide a sound basis for the development of effective decision-making tools for multihazard environments. Improving the resiliency of a system to meet target levels requires the examination of system enhancement alternatives in economic terms, within a decision-making framework. Relevant decision analysis methods would typically require the examination of resilience based on its valuation by society at large. The article provides methods for valuation and benefit-cost analysis based on concepts from risk analysis and management. © 2013 Society for Risk Analysis.

Factors affecting patient valuations of caries prevention: Using and validating the willingness to pay method.

PubMed

Vernazza, Christopher R; Wildman, John R; Steele, Jimmy G; Whitworth, John M; Walls, Angus W G; Perry, Ross; Matthews, Roger; Hahn, Petra; Donaldson, Cam

2015-08-01

Determining the value of, or strength of preference for health care interventions is useful for policy makers in planning health care services. Willingness to pay (WTP) is an established economic technique to determine the strength of preferences for interventions by eliciting monetary valuations from individuals in hypothetical situations. The objective of this study was to elicit WTP values for a dental preventive intervention and to analyze the factors affecting these as well as investigating the validity of the WTP method. Patients aged 40 years plus attending dental practices in the UK and Germany were recruited on a consecutive basis over one month. Participants received information about a novel root caries prevention intervention. They then completed a questionnaire including a WTP task. Where the coating was indicated, patients were offered this for a payment and acceptance was recorded. Analysis included econometric modelling and comparison of expected (based on stated WTP) versus actual behaviour. The mean WTP for the coating was £96.41 (standard deviation 60.61). Econometric models showed that no demographic or dental history factors were significant predictors of WTP. 63% of the sample behaved as expected when using stated WTP to predict whether they would buy the coating. The remainder were split almost equally between those expected to pay but who did not and those who were expected to refuse but paid. Values for a caries preventive intervention had a large and unpredictable variance. In comparing hypothetical versus real preferences both under- and over-valuation occurs. Wide and unpredictable variation in valuations for prevention may mean that there are difficult policy questions around what resource should be allocated to dental prevention and how to target this resource. Copyright © 2015 Elsevier Ltd. All rights reserved.

Information bias in contingent valuation: effects of personal relevance, quality of information, and motivational orientation

Treesearch

Icek Ajzen; Thomas C. Brown; Lori H. Rosenthal

1996-01-01

A laboratory experiment examined the potential for information bias in contingent valuation (CV). Consistent with the view that information about a public or private good can function as a persuasive communication, willingness to pay (WTP) was found to increase with the quality of arguments used to describe the good, especially under conditions of high personal...

Prospective Primary Teachers' Prior Experiences, Conceptions, and Pedagogical Valuations of Experimental Activities in Science Education

ERIC Educational Resources Information Center

García-Carmona, Antonio; Criado, Ana M.; Cruz-Guzmán, Marta

2018-01-01

A diagnostic study is presented of the prior experiences, conceptions, and pedagogical valuations of prospective primary teachers (PPTs) about experimental activities (ExA's) in science education. The participants were 121 PPTs who, in small teams, responded to various questions related to ExA. Their responses were analysed interpretively with…

A two-layered diffusion model traces the dynamics of information processing in the valuation-and-choice circuit of decision making.

PubMed

Piu, Pietro; Fargnoli, Francesco; Innocenti, Alessandro; Rufa, Alessandra

2014-01-01

A circuit of evaluation and selection of the alternatives is considered a reliable model in neurobiology. The prominent contributions of the literature to this topic are reported. In this study, valuation and choice of a decisional process during Two-Alternative Forced-Choice (TAFC) task are represented as a two-layered network of computational cells, where information accrual and processing progress in nonlinear diffusion dynamics. The evolution of the response-to-stimulus map is thus modeled by two linked diffusive modules (2LDM) representing the neuronal populations involved in the valuation-and-decision circuit of decision making. Diffusion models are naturally appropriate for describing accumulation of evidence over the time. This allows the computation of the response times (RTs) in valuation and choice, under the hypothesis of ex-Wald distribution. A nonlinear transfer function integrates the activities of the two layers. The input-output map based on the infomax principle makes the 2LDM consistent with the reinforcement learning approach. Results from simulated likelihood time series indicate that 2LDM may account for the activity-dependent modulatory component of effective connectivity between the neuronal populations. Rhythmic fluctuations of the estimate gain functions in the delta-beta bands also support the compatibility of 2LDM with the neurobiology of DM.

Do Alcohol Expectancy Outcomes and Valuations Mediate Peer Influences and Lifetime Alcohol Use among Early Adolescents?

ERIC Educational Resources Information Center

Zamboanga, Byron L.; Schwartz, Seth J.; Ham, Lindsay S.; Jarvis, Lorna Hernandez; Olthuis, Janine V.

2009-01-01

Building on the theory of reasoned action (I. Ajzen & M. Fishbein, 1973, 1980; M. Fishbein & I. Ajzen, 1975) and expectancy theory, the authors examined the mediating role of alcohol expectancies in adolescent drinking behaviors by testing whether alcohol expectancy outcomes and valuations (the extent to which these outcomes are perceived…

Hedonic valuation with translating amenities: Mountain Pine Beetles and host trees in the Colorado Front Range

Treesearch

Jed Cohen; Christine E. Blinn; Kevin J. Boyle; Tom Holmes; Klaus Moeltner

2016-01-01

In hedonic valuation studies the policy-relevant environmental quality attribute of interest is often costly to measure, especially under pronounced spatial and temporal variability. However, in many cases this attribute affects home prices and consumer preferences solely through its impact on a readily observable, spatially delineated, and time-invariant feature of...

Introducing Valuation Effects-Based External Balance Analysis into the Undergraduate Macroeconomics Curricula: A Simple Framework with Applications

ERIC Educational Resources Information Center

Brust, Peter; Jayakumar, Vivekanand

2012-01-01

Global imbalances and the sustainability of large U.S. current account deficits have dominated international macroeconomics of late. Pedagogically, a clear disconnect exists between graduate-level open-economy macroeconomics that emphasizes intertemporal current account models and net foreign asset adjustment featuring valuation effects, and,…

[Valuation of health-related quality of life and utilities in health economics].

PubMed

Greiner, Wolfgang; Klose, Kristina

2014-01-01

Measuring health-related quality of life is an important aspect in economic evaluation of health programmes. The development of utility-based (preference-based) measures is advanced by the discipline of health economics. Different preference measures are applied for valuing health states to produce a weighted health state index. Those preference weights should be derived from a general population sample in case of resource allocation on a collective level (as in current valuation studies of the EuroQol group). Copyright © 2014. Published by Elsevier GmbH.

Non-monetary valuation using Multi-Criteria Decision Analysis: Sensitivity of additive aggregation methods to scaling and compensation assumptions

EPA Science Inventory

Analytical methods for Multi-Criteria Decision Analysis (MCDA) support the non-monetary valuation of ecosystem services for environmental decision making. Many published case studies transform ecosystem service outcomes into a common metric and aggregate the outcomes to set land ...

How people respond to contingent valuation question: A verbal protocol analysis of willingness to pay for an environmental regulation

DOE Office of Scientific and Technical Information (OSTI.GOV)

Schkade, D.A.; Payne, J.W.

This paper investigates what a respondent is thinking when answering a willingness-to-pay question in a contingent valuation, using a [open quotes]think aloud[close quotes] technique for psychology called verbal protocol analysis. The willingness-to-pay responses we observed seem to be constructed from a variety of considerations, including an obligation to pay a fair share of the cost of the solution and signaling concern for a larger set of environmental issues. The finding that respondents seem to construct their values at the time they are asked, rather than reporting a more well-defined value, is seen as consistent with over two decades of researchmore » on the psychology of decision making. Potential uses of verbal protocols in contingent valuation studies are also discussed. 64 refs., 6 tabs.« less

Assessing the benefits of reducing fire risk in the wildland urban interface: A contingent valuation approach

Treesearch

Jeremy Fried; Greg J. Winter; Keith J. Gilless

1999-01-01

Wildland-urban interface (WUI) residents in Michigan were interviewed using a contingent valuation protocol to assess their-willingness-to-pay (WT) for incremental reductions in the risk of losing their homes to wildfire. WTP was elicited using a probability model which segments the risk of structure loss into "public" and "private" components.

Spatially-explicit valuation of coastal wetlands for cyclone mitigation in Australia and China.

PubMed

Ouyang, Xiaoguang; Lee, Shing Yip; Connolly, Rod M; Kainz, Martin J

2018-02-14

Coastal wetlands are increasingly recognised for their pivotal role in mitigating the growing threats from cyclones (including hurricanes) in a changing climate. There is, however, insufficient information about the economic value of coastal wetlands for cyclone mitigation, particularly at regional scales. Analysis of data from 1990-2012 shows that the variation of cyclone frequencies is related to EI Niño strength in the Pacific Ocean adjacent to Australia, but not China. Among the cyclones hitting the two countries, there are significant relationships between the ratio of total economic damage to gross domestic production (TD/GDP) and wetland area within cyclone swaths in Australia, and wetland area plus minimum cyclone pressure despite a weak relationship in China. The TD/GDP ratio is significantly higher in China than in Australia. Despite their extensive and growing occurrence, seawalls in China appear not to play a critical role in cyclone mitigation, and cannot replace coastal wetlands, which provide other efficient ecosystem services. The economic values of coastal wetlands in Australia and China are respectively estimated at US$52.88 billion and 198.67 billion yr -1 for cyclone mitigation, albeit with large within-country geographic variation. This study highlights the urgency to integrate this value into existing valuations of coastal wetlands.

Variability of Valuation of Non-Monetary Incentives: Motivating and Implementing the Combinatorial Retention Auction Mechanism

DTIC Science & Technology

2009-03-01

homeport, geographic stability for two tours and compressed work week; homeport, lump sum SRB, and telecommuting ). The Monte Carlo simulation...Geographic stability 2 tours, and compressed work week). The Add 2 combination includes home port choice, lump sum SRB, and telecommuting ...VALUATION OF NON-MONETARY INCENTIVES: MOTIVATING AND IMPLEMENTING THE COMBINATORIAL RETENTION AUCTION MECHANISM by Jason Blake Ellis March 2009

Hispanic valuation of the EQ-5D health states: a social value set for Latin Americans.

PubMed

Zarate, Victor; Kind, Paul; Chuang, Ling-Hsiang

2008-12-01

Cost-effectiveness analysis has been recommended by national health agencies worldwide. In the United Kingdom, the National Institute of Health and Clinical Excellence supports the use of generic health-related quality of life instruments such as EuroQol EQ-5D when quality-adjusted life-years are used to measure health benefits. Despite the urgent need for appropriate methodologies to improve the use of scarce resources in Latin American countries, little is known about how health is valued. A national population survey was conducted in the United States in 2002, based on a sample of 1603 non-Hispanic nonblacks and 1115 Hispanics. Participants provided time trade-off utilities for a subset of 42 EQ-5D health states. Hispanic respondents were grouped according to their language preferences (Spanish or English). Mean utilities were compared for each health state. A random-effects model was used to determine whether real population differences exist after adjusting for sociodemographic characteristics. A population value set for all 243 EQ-5D health states was developed using only the data from Spanish-speaking Hispanics. Mean valuations differed slightly between non-Hispanic nonblacks and English-speaking Hispanics. Spanish-speaking Hispanics, however, tended to give higher valuations than non-Hispanic nonblacks (P < 0.05) corresponding to an average of 0.034 point. A regression model was developed for Spanish-speaking Hispanics with a mean absolute error of 0.031. Values estimated using this model show marked differences when compared with corresponding values estimated using the UK (N3) and US (D1) models. The availability of a Hispanic model for EQ-5D valuations represents a significant new option for decision-makers, providing a set of social preference weights for use in Latin American countries that presently lack their own domestic value set.

Validation de la version francophone d’une échelle composite multidimensionnelle pour l’évaluation de la douleur postopératoire chez les chats

PubMed Central

Steagall, Paulo V.M.; Monteiro, Beatriz P.; Lavoie, Anne-Marie; Frank, Diane; Troncy, Eric; Luna, Stelio P.L.; Brondani, Juliana T.

2017-01-01

Résumé L’objectif de cette étude était de valider la version francophone de l’échelle composite multidimensionnelle de douleur UNESP-Botucatu (MCPS-Fr) chez les chats. Deux vétérinaires et une étudiante de médecine vétérinaire francophones ont identifié trois catégories de comportements distincts sur des vidéos : «les changements psychomoteurs», «la protection de la région douloureuse» et «les variables physiologiques». La cohérence interne était excellente (score total du coefficient alpha de Cronbach était de 0,94; 0,90; et 0,61, respectivement). La bonne concordance entre les évaluations à l’aveugle des observateurs et l’évaluateur de référence confirme la validité de cet instrument. La fiabilité inter- et intra-évaluateur était bonne à très bonne. Le point limite optimal pour l’analgésie de secours, identifié avec une courbe ROC, était au-delà de 7 (échelle allant de 0 à 30 points), avec une sensibilité de 97,8 % et une spécificité de 99,1 %. La MCPS-Fr est un outil valide et sensible pour l’évaluation de la douleur aiguë chez les chattes ayant subi une ovariohystérectomie. PMID:28042156

External Validity of Contingent Valuation: Comparing Hypothetical and Actual Payments.

PubMed

Ryan, Mandy; Mentzakis, Emmanouil; Jareinpituk, Suthi; Cairns, John

2017-11-01

Whilst contingent valuation is increasingly used in economics to value benefits, questions remain concerning its external validity that is do hypothetical responses match actual responses? We present results from the first within sample field test. Whilst Hypothetical No is always an Actual No, Hypothetical Yes exceed Actual Yes responses. A constant rate of response reversals across bids/prices could suggest theoretically consistent option value responses. Certainty calibrations (verbal and numerical response scales) minimise hypothetical-actual discrepancies offering a useful solution. Helping respondents resolve uncertainty may reduce the discrepancy between hypothetical and actual payments and thus lead to more accurate policy recommendations. Copyright © 2016 John Wiley & Sons, Ltd. Copyright © 2016 John Wiley & Sons, Ltd.

Determinants of time trade-off valuations for EQ-5D-5L health states: data from the Canadian EQ-5D-5L valuation study.

PubMed

Sayah, Fatima Al; Bansback, Nick; Bryan, Stirling; Ohinmaa, Arto; Poissant, Lise; Pullenayegum, Eleanor; Xie, Feng; Johnson, Jeffrey A

2016-07-01

Previous studies suggest that population subgroups have different perceptions of health, as well as different preferences for hypothetical health states. To identify determinants of health states preferences elicited using time trade-off (TTO) for the 5-level EQ-5D questionnaire (EQ-5D-5L) in Canada. Data were from the Canadian EQ-5D-5L Valuation Study, which took place in Edmonton, Hamilton, Montreal, and Vancouver. Each respondent valued 10 of 86 hypothetical health states during an in-person interview using a computer-based TTO exercise. The TTO scores were the dependent variable and explanatory variables including age, sex, marital status, education, employment, annual household income, ethnicity, country of birth, dwelling, study site, health literacy, number of chronic conditions, previous experience with illness, and self-rated health. Average [standard deviation (SD)] age of respondents (N = 1209) was 48 (17) years, and 45 % were male. In multivariable linear regression models with random effects, adjusted for severity of health states and inconsistencies in valuations, older age [unstandardized regression coefficient (β) = -0.077], male sex (β = 0.042), being married (β = 0.069), and urban dwelling (β = -0.055) were significantly associated with health states scores. Additionally, participants from Edmonton (β = -0.124) and Vancouver (β = -0.156), but not those from Hamilton, had significantly lower TTO scores than those from Montreal. Socio-demographic characteristics were the main determinants of preferences for EQ-5D-5L health states in this study. Interestingly, preferences were significantly lower in western Canadian cities compared to eastern ones, bringing into question whether a single preference algorithm is suitable for use in all parts of Canada.

Linking water quality and well-being for improved assessment and valuation of ecosystem services

PubMed Central

Keeler, Bonnie L.; Polasky, Stephen; Brauman, Kate A.; Johnson, Kris A.; Finlay, Jacques C.; O’Neill, Ann; Kovacs, Kent; Dalzell, Brent

2012-01-01

Despite broad recognition of the value of the goods and services provided by nature, existing tools for assessing and valuing ecosystem services often fall short of the needs and expectations of decision makers. Here we address one of the most important missing components in the current ecosystem services toolbox: a comprehensive and generalizable framework for describing and valuing water quality-related services. Water quality is often misrepresented as a final ecosystem service. We argue that it is actually an important contributor to many different services, from recreation to human health. We present a valuation approach for water quality-related services that is sensitive to different actions that affect water quality, identifies aquatic endpoints where the consequences of changing water quality on human well-being are realized, and recognizes the unique groups of beneficiaries affected by those changes. We describe the multiple biophysical and economic pathways that link actions to changes in water quality-related ecosystem goods and services and provide guidance to researchers interested in valuing these changes. Finally, we present a valuation template that integrates biophysical and economic models, links actions to changes in service provision and value estimates, and considers multiple sources of water quality-related ecosystem service values without double counting. PMID:23091018

Linking water quality and well-being for improved assessment and valuation of ecosystem services.

PubMed

Keeler, Bonnie L; Polasky, Stephen; Brauman, Kate A; Johnson, Kris A; Finlay, Jacques C; O'Neill, Ann; Kovacs, Kent; Dalzell, Brent

2012-11-06

Despite broad recognition of the value of the goods and services provided by nature, existing tools for assessing and valuing ecosystem services often fall short of the needs and expectations of decision makers. Here we address one of the most important missing components in the current ecosystem services toolbox: a comprehensive and generalizable framework for describing and valuing water quality-related services. Water quality is often misrepresented as a final ecosystem service. We argue that it is actually an important contributor to many different services, from recreation to human health. We present a valuation approach for water quality-related services that is sensitive to different actions that affect water quality, identifies aquatic endpoints where the consequences of changing water quality on human well-being are realized, and recognizes the unique groups of beneficiaries affected by those changes. We describe the multiple biophysical and economic pathways that link actions to changes in water quality-related ecosystem goods and services and provide guidance to researchers interested in valuing these changes. Finally, we present a valuation template that integrates biophysical and economic models, links actions to changes in service provision and value estimates, and considers multiple sources of water quality-related ecosystem service values without double counting.

Economic valuation of selected direct and indirect use values of the Makgadikgadi wetland system, Botswana

NASA Astrophysics Data System (ADS)

Setlhogile, Tshepo; Arntzen, Jaap; Mabiza, Collin; Mano, Reneth

Economic valuation of wetlands aims to investigate public preferences for changes in the state of the wetland and the natural resources it constitutes in monetary terms. It provides a means of quantifying the direct and indirect benefits that people derive from wetlands. In addition, it informs management planning and practice about resource options, optimal allocation and also provides information for conservation of the resource. The Makgadikgadi wetland is a unique system that mostly consists of dry pans during most of the year. This study aimed at estimating the value of groundwater recharge and community-based natural resource management (CBNRM) activities within the Makgadikgadi wetland and how these goods and services contribute to the local and national economy. The study used the Total Economic Valuation approach, which considers both the direct and indirect use values of the resource. In essence, the study concentrated on one direct use value (use of resources through CBNRM) and one indirect use value (groundwater recharge). With regard to CBNRM, three community-based organisations (CBOs) were selected for the study and static and dynamic cost-benefit models for these CBOs were developed. The groundwater recharge value was largely determined through desktop review and interviews with stakeholders. The results indicate a small positive contribution of CBOs towards the economy of Botswana and a high potential for communities to derive substantial benefits from the projects because currently benefits realised by communities are limited. CBOs involved in joint venture partnerships with tourism and hunting enterprises benefit more from utilising the wetland’s resources. Groundwater recharge often occurs in areas away from the physical location of the wetland and may not be easily attributable to the wetland. However, the study assessed the value taking into consideration the various sectors which rely on the groundwater resource. The groundwater recharge

Measuring the difference in mean willingness to pay when dichotomous choice contingent valuation responses are not independent

Treesearch

Gregory L. Poe; Michael P. Welsh; Patricia A. Champ

1997-01-01

Dichotomous choice contingent valuation surveys frequently elicit multiple values in a single questionnaire. If individual responses are correlated across scenarios, the standard approach of estimating willingness to pay (WTP) functions independently for each scenario may result in biased estimates of the significance of the difference in mean WTP values. This paper...

75 FR 17428 - Notice of Proposed New Information Collection for Focus Groups for Non-use Valuation Survey...

Federal Register 2010, 2011, 2012, 2013, 2014

2010-04-06

... a nonuse valuation survey of the U.S. public. A key aspect of the survey design process is to use... use the results of these information collection activities to optimize the design of the survey... information to address several key questions relating to the survey and, in particular, the conjoint design...

The Value of Satellite Early Warning Systems in Kenya and Guatemala: Results and Lessons Learned from Contingent Valuation and Loss Avoidance Approaches

NASA Astrophysics Data System (ADS)

Morrison, I.; Berenter, J. S.

2017-12-01

SERVIR, the joint USAID and NASA initiative, conducted two studies to assess the value of two distinctly different Early Warning Systems (EWS) in Guatemala and Kenya. Each study applied a unique method to asses EWS value. The evaluation team conducted a Contingent Valuation (CV) choice experiment to measure the value of a near-real time VIIRS and MODIS-based hot-spot mapping tool for forest management professionals targeting seasonal forest fires in Northern Guatemala. The team also conducted a survey-based Damage and Loss Avoidance (DaLA) exercise to calculate the monetary benefits of a MODIS-derived frost forecasting system for farmers in the tea-growing highlands of Kenya. This presentation compares and contrasts the use and utility of these two valuation approaches to assess EWS value. Although interest in these methods is growing, few empirical studies have applied them to benefit and value assessment for EWS. Furthermore, the application of CV and DaLA methods is much less common outside of the developed world. Empirical findings from these two studies indicated significant value for two substantially different beneficiary groups: natural resource management specialists and smallholder tea farmers. Additionally, the valuation processes generated secondary information that can help improve the format and delivery of both types of EWS outputs for user and beneficiary communities in Kenya and Guatemala. Based on lessons learned from the two studies, this presentation will also compare and contrast the methodological and logistical advantages, challenges, and limitations in applying the CV and DaLA methods in developing countries. By reviewing these two valuation methods alongside each other, the authors will outline conditions where they can be applied - individually or jointly - to other early warning systems and delivery contexts.

The role of the payment vehicle in non-market valuations of a health care service: willingness-to-pay for an ambulance helicopter service.

PubMed

Gyrd-Hansen, Dorte

2016-01-01

This study analyses the role of the payment vehicle when conducting non-market valuations of health care services using stated preference methods. Based on a contingent valuation study conducted in Denmark encompassing more than 3400 respondents three important conclusions are drawn. Firstly, it is found that the valuation of a publicly financed ambulance helicopter service is higher than for an identical privately financed service. Secondly, the results suggest that the public premium is likely to be partly driven by altruistic preferences, and that some citizens value access to this type of service for all. An important driver is also perceptions of quality of services across the private and public sector. Finally, it is shown that exclusion of protest bidders is problematic and may bias welfare estimates. The take home message is that it is difficult to isolate the value of a good per se, and that analysts should take care in applying the payment vehicle that is likely to be applied in real life when valuing non-market goods. There has been little awareness of the importance of choice of payment vehicle in the literature to date.

A computer method of finding valuations forcing validity of LC formulae

NASA Astrophysics Data System (ADS)

Godlewski, Łukasz; Świetorzecka, Kordula; Mulawka, Jan

2014-11-01

The purpose of this paper is to present the computer implementation of a system known as LC temporal logic [1]. Firstly, to become familiar with some theoretical issues, a short introduction to this logic is discussed. The algorithms allowing a deep analysis of the formulae of LC logic are considered. In particular we discuss how to determine if a formula is a tautology, contrtautology or it is satisfable. Next, we show how to find all valuations to satisfy the formula. Finally, we consider finding histories generated by the formula and transforming these histories into the state machine. Moreover, a description of the experiments that verify the implementation are briefly presented.

Valuing Drinking Water Risk Reductions Using the Contingent Valuation Method: A Methodological Study of Risks from THM and Giardia (1986)

EPA Pesticide Factsheets

This study develops contingent valuation methods for measuring the benefits of mortality and morbidity drinking water risk reductions. The major effort was devoted to developing and testing a survey instrument to value low-level risk reductions.

Coupled hydrological, ecological, decision and economic models for monetary valuation of riparian ecosystem services

NASA Astrophysics Data System (ADS)

Goodrich, D. C.; Brookshire, D.; Broadbent, C.; Dixon, M. D.; Brand, L. A.; Thacher, J.; Benedict, K. K.; Lansey, K. E.; Stromberg, J. C.; Stewart, S.; McIntosh, M.

2011-12-01

Water is a critical component for sustaining both natural and human systems. Yet the value of water for sustaining ecosystem services is not well quantified in monetary terms. Ideally decisions involving water resource management would include an apples-to-apples comparison of the costs and benefits in dollars of both market and non-market goods and services - human and ecosystem. To quantify the value of non-market ecosystem services, scientifically defensible relationships must be developed that link the effect of a decision (e.g. human growth) to the change in ecosystem attributes from current conditions. It is this linkage that requires the "poly-disciplinary" coupling of knowledge and models from the behavioral, physical, and ecological sciences. In our experience another key component of making this successful linkage is development of a strong poly-disciplinary scientific team that can readily communicate complex disciplinary knowledge to non-specialists outside their own discipline. The time to build such a team that communicates well and has a strong sense of trust should not be underestimated. The research described in the presentation incorporated hydrologic, vegetation, avian, economic, and decision models into an integrated framework to determine the value of changes in ecological systems that result from changes in human water use. We developed a hydro-bio-economic framework for the San Pedro River Region in Arizona that considers groundwater, stream flow, and riparian vegetation, as well as abundance, diversity, and distribution of birds. In addition, we developed a similar framework for the Middle Rio Grande of New Mexico. There are six research components for this project: (1) decision support and scenario specification, (2) regional groundwater model, (3) the riparian vegetation model, (4) the avian model, (5) methods for displaying the information gradients in the valuation survey instruments (Choice Modeling and Contingent Valuation), and (6

Using Visual Information to Determine the Subjective Valuation of Public Space for Transportation : Application to Subway Crowding Costs in NYC

DOT National Transportation Integrated Search

2017-11-30

The objective of this project is to explore the role of visual information in determining the users subjective valuation of multidimensional trip attributes that are relevant in decision-making, but are neglected in standard travel demand models. ...

The episodic random utility model unifies time trade-off and discrete choice approaches in health state valuation

PubMed Central

Craig, Benjamin M; Busschbach, Jan JV

2009-01-01

Background To present an episodic random utility model that unifies time trade-off and discrete choice approaches in health state valuation. Methods First, we introduce two alternative random utility models (RUMs) for health preferences: the episodic RUM and the more common instant RUM. For the interpretation of time trade-off (TTO) responses, we show that the episodic model implies a coefficient estimator, and the instant model implies a mean slope estimator. Secondly, we demonstrate these estimators and the differences between the estimates for 42 health states using TTO responses from the seminal Measurement and Valuation in Health (MVH) study conducted in the United Kingdom. Mean slopes are estimates with and without Dolan's transformation of worse-than-death (WTD) responses. Finally, we demonstrate an exploded probit estimator, an extension of the coefficient estimator for discrete choice data that accommodates both TTO and rank responses. Results By construction, mean slopes are less than or equal to coefficients, because slopes are fractions and, therefore, magnify downward errors in WTD responses. The Dolan transformation of WTD responses causes mean slopes to increase in similarity to coefficient estimates, yet they are not equivalent (i.e., absolute mean difference = 0.179). Unlike mean slopes, coefficient estimates demonstrate strong concordance with rank-based predictions (Lin's rho = 0.91). Combining TTO and rank responses under the exploded probit model improves the identification of health state values, decreasing the average width of confidence intervals from 0.057 to 0.041 compared to TTO only results. Conclusion The episodic RUM expands upon the theoretical framework underlying health state valuation and contributes to health econometrics by motivating the selection of coefficient and exploded probit estimators for the analysis of TTO and rank responses. In future MVH surveys, sample size requirements may be reduced through the incorporation of

Valuation of ecosystem services of commercial shrub willow (Salix spp.) woody biomass crops.

PubMed

Bressler, Alison; Vidon, Philippe; Hirsch, Paul; Volk, Timothy

2017-04-01

The development of shrub willow as a bioenergy feedstock contributes to renewable energy portfolios in many countries with temperate climates and marginal croplands due to excessive moisture. However, to fully understand the potential of shrub willow as an alternative crop on marginal cropland, more research is needed to understand the potential of shrub willow for providing a variety of ecosystem services. At the same time, there is much need for research developing strategies to value ecosystem services beyond conventional valuation systems (e.g., monetary, intrinsic). In this context, this project investigates the ecosystem services of shrub willow woody biomass from an environmental science perspective, and proposes a new avenue to assess ecosystem services for management purposes based on the relative value of key ecosystem services under various land management strategies (i.e., willow vs. corn vs. hay). On marginal cropland in the US Northeast, shrub willow may be used to replace crops like corn or hay. Transitioning from conventional corn or hay to willow tends to reduce nutrient loss and erosion, improve biodiversity and adaptability to climate change, and increase access to recreational activities. However, it is unlikely to change soil carbon pools or greenhouse gas emissions at the soil-atmosphere interface. By encouraging decision makers to weigh the pros and cons of each management decision (i.e., willow vs. corn vs. hay) based on the situation, the ecosystems services valuation method used here provides a clear framework for decision making in a watershed management context.

A comparison of United States and United Kingdom EQ-5D health states valuations using a nonparametric Bayesian method.

PubMed

Kharroubi, Samer A; O'Hagan, Anthony; Brazier, John E

2010-07-10

Cost-effectiveness analysis of alternative medical treatments relies on having a measure of effectiveness, and many regard the quality adjusted life year (QALY) to be the current 'gold standard.' In order to compute QALYs, we require a suitable system for describing a person's health state, and a utility measure to value the quality of life associated with each possible state. There are a number of different health state descriptive systems, and we focus here on one known as the EQ-5D. Data for estimating utilities for different health states have a number of features that mean care is necessary in statistical modelling.There is interest in the extent to which valuations of health may differ between different countries and cultures, but few studies have compared preference values of health states obtained from different countries. This article applies a nonparametric model to estimate and compare EQ-5D health state valuation data obtained from two countries using Bayesian methods. The data set is the US and UK EQ-5D valuation studies where a sample of 42 states defined by the EQ-5D was valued by representative samples of the general population from each country using the time trade-off technique. We estimate a utility function across both countries which explicitly accounts for the differences between them, and is estimated using the data from both countries. The article discusses the implications of these results for future applications of the EQ-5D and for further work in this field. Copyright 2010 John Wiley & Sons, Ltd.

Critical analysis of valuation and strategical orientation of merger and acquisition deals in the pharmaceutical industry.

PubMed

Dierks, Raphaela Marie Louisa; Bruyère, Olivier; Reginster, Jean-Yves

2018-04-01

The pharmaceutical industry is undergoing major shifts due to changing macro and micro factors. As the industry is highly capital intensive and patents are expiring, the outlook is on generating inorganic growth, mainly through M&A. Using the income valuation approach, one analyses two completed deals in 2016 above 1bn USD. Thereafter one outlines the main motives behind M&A deals and concluded by discussing whether M&A harms medical innovations. Areas covered: The paper is based on empirical study questioning existing literature in order to critically analyse valuation and the strategical orientation of pharmaceutical companies Expert commentary: Pharmaceutical companies understand the changing market conditions and favour their expertise. The restructuring of the industry moves to small niche companies (I.e. Biopharma or biotech companies) researching key innovations and big companies purchasing them to develop them, create clinical trials and distribute them as this is a costly manner Conclusion: One can expect more M&A deals during the next years focusing on value rather than volume. Pharmaceutical players resilient to the market changes may survive if they change their business model from a traditional vertical one to outsourcing and diversification including external players.

A Kramers-Moyal approach to the analysis of third-order noise with applications in option valuation.

PubMed

Popescu, Dan M; Lipan, Ovidiu

2015-01-01

We propose the use of the Kramers-Moyal expansion in the analysis of third-order noise. In particular, we show how the approach can be applied in the theoretical study of option valuation. Despite Pawula's theorem, which states that a truncated model may exhibit poor statistical properties, we show that for a third-order Kramers-Moyal truncation model of an option's and its underlier's price, important properties emerge: (i) the option price can be written in a closed analytical form that involves the Airy function, (ii) the price is a positive function for positive skewness in the distribution, (iii) for negative skewness, the price becomes negative only for price values that are close to zero. Moreover, using third-order noise in option valuation reveals additional properties: (iv) the inconsistencies between two popular option pricing approaches (using a "delta-hedged" portfolio and using an option replicating portfolio) that are otherwise equivalent up to the second moment, (v) the ability to develop a measure R of how accurately an option can be replicated by a mixture of the underlying stocks and cash, (vi) further limitations of second-order models revealed by introducing third-order noise.

A Kramers-Moyal Approach to the Analysis of Third-Order Noise with Applications in Option Valuation

PubMed Central

Popescu, Dan M.; Lipan, Ovidiu

2015-01-01

We propose the use of the Kramers-Moyal expansion in the analysis of third-order noise. In particular, we show how the approach can be applied in the theoretical study of option valuation. Despite Pawula’s theorem, which states that a truncated model may exhibit poor statistical properties, we show that for a third-order Kramers-Moyal truncation model of an option’s and its underlier’s price, important properties emerge: (i) the option price can be written in a closed analytical form that involves the Airy function, (ii) the price is a positive function for positive skewness in the distribution, (iii) for negative skewness, the price becomes negative only for price values that are close to zero. Moreover, using third-order noise in option valuation reveals additional properties: (iv) the inconsistencies between two popular option pricing approaches (using a “delta-hedged” portfolio and using an option replicating portfolio) that are otherwise equivalent up to the second moment, (v) the ability to develop a measure R of how accurately an option can be replicated by a mixture of the underlying stocks and cash, (vi) further limitations of second-order models revealed by introducing third-order noise. PMID:25625856

Estimating the robustness of contingenet valuation estimates of WTP to survey mode and treatment of protest responses.

Treesearch

John Loomis; Armando Gonzalez-Caban; Joseph Champ

2011-01-01

Over the past four decades teh contingent valuation method (CVM) has become a technique frequently used by economists to estimate willingness-to-pay (WTP) for improvements in environmental quality and prot3tion of natural resources. The CVM was originall applied to estmate recreation use values (Davis, 1963; Hammack and Brown, 1974)and air quality (Brookshire et al....

ARC-VM: An architecture real options complexity-based valuation methodology for military systems-of-systems acquisitions

NASA Astrophysics Data System (ADS)

Domercant, Jean Charles

The combination of today's national security environment and mandated acquisition policies makes it necessary for military systems to interoperate with each other to greater degrees. This growing interdependency results in complex Systems-of-Systems (SoS) that only continue to grow in complexity to meet evolving capability needs. Thus, timely and affordable acquisition becomes more difficult, especially in the face of mounting budgetary pressures. To counter this, architecting principles must be applied to SoS design. The research objective is to develop an Architecture Real Options Complexity-Based Valuation Methodology (ARC-VM) suitable for acquisition-level decision making, where there is a stated desire for more informed tradeoffs between cost, schedule, and performance during the early phases of design. First, a framework is introduced to measure architecture complexity as it directly relates to military SoS. Development of the framework draws upon a diverse set of disciplines, including Complexity Science, software architecting, measurement theory, and utility theory. Next, a Real Options based valuation strategy is developed using techniques established for financial stock options that have recently been adapted for use in business and engineering decisions. The derived complexity measure provides architects with an objective measure of complexity that focuses on relevant complex system attributes. These attributes are related to the organization and distribution of SoS functionality and the sharing and processing of resources. The use of Real Options provides the necessary conceptual and visual framework to quantifiably and traceably combine measured architecture complexity, time-valued performance levels, as well as programmatic risks and uncertainties. An example suppression of enemy air defenses (SEAD) capability demonstrates the development and usefulness of the resulting architecture complexity & Real Options based valuation methodology. Different

Green roof valuation: a probabilistic economic analysis of environmental benefits.

PubMed

Clark, Corrie; Adriaens, Peter; Talbot, F Brian

2008-03-15

Green (vegetated) roofs have gained global acceptance as a technologythat has the potential to help mitigate the multifaceted, complex environmental problems of urban centers. While policies that encourage green roofs exist atthe local and regional level, installation costs remain at a premium and deter investment in this technology. The objective of this paper is to quantitatively integrate the range of stormwater, energy, and air pollution benefits of green roofs into an economic model that captures the building-specific scale. Currently, green roofs are primarily valued on increased roof longevity, reduced stormwater runoff, and decreased building energy consumption. Proper valuation of these benefits can reduce the present value of a green roof if investors look beyond the upfront capital costs. Net present value (NPV) analysis comparing a conventional roof system to an extensive green roof system demonstrates that at the end of the green roof lifetime the NPV for the green roof is between 20.3 and 25.2% less than the NPV for the conventional roof over 40 years. The additional upfront investment is recovered at the time when a conventional roof would be replaced. Increasing evidence suggests that green roofs may play a significant role in urban air quality improvement For example, uptake of N0x is estimated to range from $1683 to $6383 per metric ton of NOx reduction. These benefits were included in this study, and results translate to an annual benefit of $895-3392 for a 2000 square meter vegetated roof. Improved air quality leads to a mean NPV for the green roof that is 24.5-40.2% less than the mean conventional roof NPV. Through innovative policies, the inclusion of air pollution mitigation and the reduction of municipal stormwater infrastructure costs in economic valuation of environmental benefits of green roofs can reduce the cost gap that currently hinders U.S. investment in green roof technology.

Valuation effects of health cost containment measures.

PubMed

Strange, M L; Ezzell, J R

2000-01-01

This study reports the findings of research into the valuation effects of health cost containment activities by publicly traded corporations. The motivation for this study was employers' increasing cost of providing health care insurance to their employees and employers' efforts to contain those costs. A 1990 survey of corporate health benefits indicated that these costs represented 25 percent of employers' net earnings and this would rise by the year 2000 if no actions were taken to reduce cost. Health cost containment programs that are implemented by firms should be seen by shareholders as a wealth maximizing effort. As such, this should be reflected in share price. This study employed standard event study methodology where the event is a media announcement or report regarding an attempt by a firm to contain the costs of providing health insurance and other health related benefits to employees. It examined abnormal returns on a number of event days and for a number of event intervals. Of the daily and interval returns that are least significant at the 10 percent level, virtually all are negative. Cross-sectional analysis shows that the abnormal returns are related negatively to a unionization variable.

Validation d’indicateurs de la prise en charge des atteintes des fonctions cognitives dans les unités d’évaluation gériatrique

PubMed Central

Payot, Isabelle; Latour, Judith; Massoud, Fadi; Kergoat, Marie-Jeanne

2007-01-01

RÉSUMÉ OBJECTIF Analyser et adapter des indicateurs de qualité pour l’évaluation et la prise en charge des personnes avec atteinte des fonctions cognitives, dont la prévalence est très élevée dans les unités d’évaluation gériatrique au Québec. DEVIS Une méthode de type Delphi-modifiée. CONTEXTE Province de Québec. PARTICIPANTS Sept praticiens de milieux hospitaliers affiliés à 3 universités du Québec choisis pour leur compétence reconnue en démence et soins gériatriques. MÉTHODE Parmi les indicateurs développés en 2001 par la méthode RAND, 22 items sélectionnés pour leur pertinence au cours du processus d’évaluation et de prise en charge d’une atteinte des fonctions cognitives ont été adaptés aux conditions de pratique du milieu hospitalier québécois. Les indicateurs, accompagnés d’évidences de la littérature, ont été soumis, par la poste, à un panel d’experts. Chaque expert a coté, sur une échelle de 1 à 9, son degré d’accord à des affirmations concernant la validité, la qualité et la nécessité d’être inscrit dans le dossier médical. Pour qu’un indicateur soit retenu, il devait faire consensus selon les valeurs médianes, être situé dans le tertile supérieur et recevoir l’agrément des experts. Les indicateurs incertains étaient modifiés en fonction des commentaires des experts, puis soumis au même panel pour un second tour. RÉSULTATS Des 22 indicateurs soumis au premier tour, 21 ont été validés. Ils prenaient en compte le dépistage, l’investigation, l’évaluation, le traitement et le suivi. L’indicateur considéré comme incertain a été modifié puis accepté lors du second tour. CONCLUSION Cette étude a identifié 22 indicateurs pertinents pour l’évaluation et la prise en charge de l’atteinte des fonctions cognitives dans une unité d’évaluation gériatrique. Ils serviront de base à l’appréciation de la problématique de la démence, dans une étude ayant cours

Payment reform will shift home health agency valuation parameters.

PubMed

Hahn, A D

1998-12-01

Changes authorized by the Balanced Budget Act of 1997 have removed many of the payment benefits that motivated past home health agency acquisition activity and temporarily have slowed the rapid pace of acquisitions of home health agencies. The act required that Medicare's cost-based payment system be replaced with a prospective payment system (PPS) and established an interim payment system to provide a framework for home health agencies to make the transition to the PPS. As a consequence, realistic valuations of home health agencies will be determined primarily by cash flows, with consideration given to operational factors, such as quality of patient care, service territory, and information systems capabilities. The limitations imposed by the change in payment mechanism will cause acquisition interest to shift away from home health agencies with higher utilization and revenue expansion to agencies able to control costs and achieve operating leverage.

26 CFR 25.2515-2 - Tenancies by the entirety; transfers treated as gifts; manner of election and valuation.

Code of Federal Regulations, 2010 CFR

2010-04-01

... creation of the tenancy is the amount of his contribution to the tenancy less the value of his retained... election and valuation. (a) The election to treat the creation of a tenancy by the entirety in real property, or additions made to its value, as constituting a gift in the calendar quarter or calendar year...

[Acceptance and understandability of various methods of health valuations for the chronically ill: willingness to pay, visual analogue scale and rating scale].

PubMed

Meder, M; Farin, E

2009-11-01

Health valuations are one way of measuring patient preferences with respect to the results of their treatment. The study examines three different methods of health valuations--willingness to pay (WTP), visual analogue scale (VAS), and a rating question for evaluating the subjective significance. The goal is to test the understandability and acceptance of these methods for implementation in questionnaires. In various rehabilitation centres, a total of six focus groups were conducted with 5-9 patients each with a mean age of 57.1 years. The illnesses considered were chronic-ischaemic heart disease, chronic back pain, and breast cancer. Patients filled out a questionnaire that was then discussed in the group. In addition to the quantitative evaluation of the data in the questionnaire, a qualitative analysis of the contents of the group discussion protocols was made. We have results from a total of 42 patients. 14.6% of the patients had "great difficulties" understanding the WTP or rated it as "completely incomprehensible"; this value was 7.3% for VAS and 0% for the rating scale. With respect to acceptance, 31.0% of the patients indicated that they were "not really" or "not at all" willing to answer such a WTP question in a questionnaire; this was 6.6% for the VAS, and again 0% for the rating scale. The qualitative analysis provided an indication as to why some patients view the WTP question in particular in a negative light. Many difficulties in understanding it were related to the formulation of the question and the structure of the questionnaire. However, the patients' statements also made it apparent that the hypothetical nature of the WTP questionnaire was not always recognised. The most frequent reason for the lack of acceptance of the WTP was the patients' fear of negative financial consequences of their responses. With respect to understandability and acceptance, VAS questions appear to be better suited for reflecting patient preferences than WTP questions. The

Cost-Benefit Analysis of an Otolaryngology Emergency Room Using a Contingent Valuation Approach.

PubMed

Naunheim, Matthew R; Kozin, Elliot D; Sethi, Rosh K; Ota, H Gregory; Gray, Stacey T; Shrime, Mark G

2015-10-01

Dedicated otolaryngology emergency rooms (ERs) provide a unique mechanism of health care delivery. Relative costs and willingness to pay (WTP) for these services have not been studied. This study aims to provide a cost-benefit analysis of otolaryngology-specific ER care. Cost-benefit analysis based on contingent valuation surveys. An otolaryngology-specific ER in a tertiary care academic medical center. Adult English-speaking patients presenting to an otolaryngology ER were included. WTP questions were used to assess patient valuations of specialty emergency care. Sociodemographic data, income, and self-reported levels of distress were assessed. State-level and institution-specific historical cost data were merged with WTP data within a cost-benefit analysis framework. The response rate was 75.6%, and 199 patients were included in the final analysis. Average WTP for otolaryngology ER services was $319 greater than for a general ER (95% CI: $261 to $377), with a median value of $200. The historical mean cost per visit at a general ER was $575, and mean cost at the specialty ER was $551 (95% CI: $529 to $574). Subtracting incremental cost from incremental WTP yielded a net benefit of $343. Dedicated otolaryngology ER services are valued by patients for acute otolaryngologic problems and have a net benefit of $343 per patient visit. They appear to be a cost-beneficial method for addressing acute otolaryngologic conditions. This study has implications for ER-based otolaryngologic care and direct-to-specialist services. © American Academy of Otolaryngology-Head and Neck Surgery Foundation 2015.

Direct and Indirect Effects of Religiosity on Valuation of Life through Forgiveness and Social Provisions among Older Incarcerated Males

ERIC Educational Resources Information Center

Randall, G. K.; Bishop, Alex J.

2013-01-01

Purpose of the study: Few studies have investigated the influence of religiosity (REL), forgiveness, and social resources on incarcerated individuals' attachment to their lives, or valuation of life (VOL). We tested a model linking REL to VOL through 3 subscales of the Heartland Forgiveness Scale (Self, Others, and Situations) and social…

Economic Valuation as an Instrument to Determine The Management Strategy of Baros Mangrove Forest, Bantul, Yogyakarta, Indonesia

NASA Astrophysics Data System (ADS)

Waluyo Jati, Irawan; Pribadi, Rudhi

2018-02-01

The Baros mangrove forest in Bantul Regency is now beginning to develop. Many government and private sectors programs are rolled out to support its development. The development of the Baros mangrove forest must be in accordance with the rules of conservation so that it will not damage the mangrove ecosystem. Mangrove forest has high economical and ecological value but is very vulnerable if lack of wisdom in maintaining, preserving and managing them. The involvement of government and other stakeholders are essential in determining management policies. Unawareness of society and the government to the importance of mangrove ecosystem can cause development of it becomes uncontrolled, consequently can destroy it. Mangrove forests are an important natural resource in coastal environments, and have three main functions: physical, biological, and economic functions. To quantify the functions of mangrove forests as the basis to determine the policy is required a research instrument called economic valuation. The approach of this study is the literature review from various studies before to perceive the influence of economic valuation in determining the management strategy of Baros mangrove forest in Bantul Regency, Yogyakarta, Indonesia.

Factors affecting the value of a wilderness visit: a contingent valuation study of Caribou-Speckled Mountain Wilderness users

Treesearch

Jeffery A. Michael; Stephen Reiling; Hsiang-Tai Cheng

1995-01-01

A dichotomous choice contingent valuation model is estimated using an on-site survey of Caribou-Speckled Mountain Wilderness visitors. The results indicate that pre-trip expectations of various trip attributes such as congestion have a greater impact on a trip?s value than the actual conditions of the visit. This research also shows that future economic studies of an...

The demand for a dengue vaccine: a contingent valuation survey in Metro Manila.

PubMed

Palanca-Tan, Rosalina

2008-02-13

Using data gathered from a contingent valuation survey, this study estimated the willingness to pay (WTP) for a single dengue fever vaccine and the household demand function for dengue vaccines. Mean WTP for the vaccine ranged from US$27 to US$32 and household demand averaged 2 per household. Our findings indicate sufficiently high WTP for dengue vaccines and hence a significant potential for selling the vaccine in private markets. For the lower income groups with lower capacity to pay, a mass vaccination campaign program in which part of the financial costs are covered by vaccine user charges is viable.

Cost-benefit analysis involving addictive goods: contingent valuation to estimate willingness-to-pay for smoking cessation.

PubMed

Weimer, David L; Vining, Aidan R; Thomas, Randall K

2009-02-01

The valuation of changes in consumption of addictive goods resulting from policy interventions presents a challenge for cost-benefit analysts. Consumer surplus losses from reduced consumption of addictive goods that are measured relative to market demand schedules overestimate the social cost of cessation interventions. This article seeks to show that consumer surplus losses measured using a non-addicted demand schedule provide a better assessment of social cost. Specifically, (1) it develops an addiction model that permits an estimate of the smoker's compensating variation for the elimination of addiction; (2) it employs a contingent valuation survey of current smokers to estimate their willingness-to-pay (WTP) for a treatment that would eliminate addiction; (3) it uses the estimate of WTP from the survey to calculate the fraction of consumer surplus that should be viewed as consumer value; and (4) it provides an estimate of this fraction. The exercise suggests that, as a tentative first and rough rule-of-thumb, only about 75% of the loss of the conventionally measured consumer surplus should be counted as social cost for policies that reduce the consumption of cigarettes. Additional research to estimate this important rule-of-thumb is desirable to address the various caveats relevant to this study. Copyright (c) 2008 John Wiley & Sons, Ltd.

Testing the effectiveness of certainty scales, cheap talk, and dissonance-minimization in reducing hypothetical bias in contingent valuation studies

Treesearch

Mark Morrison; Thomas C. Brown

2009-01-01

Stated preference methods such as contingent valuation and choice modeling are subject to various biases that may lead to differences between actual and hypothetical willingness to pay. Cheap talk, follow-up certainty scales, and dissonance minimization are three techniques for reducing this hypothetical bias. Cheap talk and certainty scales have received considerable...

Attachment to Life: Psychometric Analyses of the Valuation of Life Scale and Differences Among Older Adults

PubMed Central

Gitlin, Laura N.; Parisi, Jeanine; Huang, Jin; Winter, Laraine; Roth, David L.

2016-01-01

Purpose of study: Examine psychometric properties of Lawton’s Valuation of Life (VOL) scale, a measure of an older adults’ assessment of the perceived value of their lives; and whether ratings differ by race (White, Black/African American) and sex. Design and Methods: The 13-item VOL scale was administered at baseline in 2 separate randomized trials (Advancing Better Living for Elders, ABLE; Get Busy Get Better, GBGB) for a total of 527 older adults. Principal component analyses were applied to a subset of ABLE data (subsample 1) and confirmatory factor analyses were conducted on remaining data (subsample 2 and GBGB). Once the factor structure was identified and confirmed, 2 subscales were created, corresponding to optimism and engagement. Convergent validity of total and subscale scores were examined using measures of depressive symptoms, social support, control-oriented strategies, mastery, and behavioral activation. For discriminant validity, indices of health status, physical function, financial strain, cognitive status, and number of falls were examined. Results: Trial samples (ABLE vs. GBGB) differed by age, race, marital status, education, and employment. Principal component analysis on ABLE subsample 1 (n = 156) yielded two factors subsequently confirmed in confirmatory factor analyses on ABLE subsample 2 (n = 163) and GBGB sample (N = 208) separately. Adequate fit was found for the 2-factor model. Correlational analyses supported strong convergent and discriminant validity. Some statistically significant race and sex differences in subscale scores were found. Implications: VOL measures subjective appraisals of perceived value of life. Consisting of two interrelated subscales, it offers an efficient approach to ascertain personal attributions. PMID:26874189

Does the Introduction of the Ranking Task in Valuation Studies Improve Data Quality and Reduce Inconsistencies? The Case of the EQ-5D-5L.

PubMed

Ramos-Goñi, Juan M; Rand-Hendriksen, Kim; Pinto-Prades, Jose Luis

2016-06-01

Time trade-off (TTO)-based valuation studies for the three-level version of the EuroQol five-dimensional questionnaire (EQ-5D) typically started off with a ranking task (ordering the health states by preference). This was not included in the protocol for the five-level EQ-5D (EQ-5D-5L) valuation study. To test whether reintroducing a ranking task before the composite TTO (C-TTO) could help to reduce inconsistencies in C-TTO responses and improve the data quality. Respondents were randomly assigned to three study arms. The control arm was the present EQ-5D-5L study protocol, without ranking. The second arm (ranking without sorting) preceded the present protocol by asking respondents to rank the target health states using physical cards. The states were then valued in random order using C-TTO. In the third arm (ranking and sorting), the ranked states remained visible through the C-TTO tasks and the order of valuation was determined by the ranking. The study used only 10 EQ-5D-5L health states. We compared the C-TTO-based inconsistent pairs of health states and ties. The final sample size was 196 in the control arm, 205 in the ranking without sorting arm, and 199 in the ranking and sorting arm. The percentages of ties by respondents were 15.1%, 12.5%, and 12.6% for the control arm, the ranking without sorting arm, and the ranking and sorting arm, respectively. The extra cost for adding the ranking task was about 15%. The benefit does not justify the effort involved in the ranking task. For this reason, the addition of the ranking task to the present EQ-5D-5L valuation protocol is not an attractive option. Copyright © 2016 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.

Epidermal Rac1 regulates the DNA damage response and protects from UV-light-induced keratinocyte apoptosis and skin carcinogenesis

PubMed Central

Deshmukh, Jayesh; Pofahl, Ruth; Haase, Ingo

2017-01-01

Non-melanoma skin cancer (NMSC) is the most common type of cancer. Increased expression and activity of Rac1, a small Rho GTPase, has been shown previously in NMSC and other human cancers; suggesting that Rac1 may function as an oncogene in skin. DMBA/TPA skin carcinogenesis studies in mice have shown that Rac1 is required for chemically induced skin papilloma formation. However, UVB radiation by the sun, which causes DNA damage, is the most relevant cause for NMSC. A potential role of Rac1 in UV-light-induced skin carcinogenesis has not been investigated so far. To investigate this, we irradiated mice with epidermal Rac1 deficiency (Rac1-EKO) and their controls using a well-established protocol for long-term UV-irradiation. Most of the Rac1-EKO mice developed severe skin erosions upon long-term UV-irradiation, unlike their controls. These skin erosions in Rac1-EKO mice healed subsequently. Surprisingly, we observed development of squamous cell carcinomas (SCCs) within the UV-irradiation fields. This shows that the presence of Rac1 in the epidermis protects from UV-light-induced skin carcinogenesis. Short-term UV-irradiation experiments revealed increased UV-light-induced apoptosis of Rac1-deficient epidermal keratinocytes in vitro as well as in vivo. Further investigations using cyclobutane pyrimidine dimer photolyase transgenic mice revealed that the observed increase in UV-light-induced keratinocyte apoptosis in Rac1-EKO mice is DNA damage dependent and correlates with caspase-8 activation. Furthermore, Rac1-deficient keratinocytes showed reduced levels of p53, γ-H2AX and p-Chk1 suggesting an attenuated DNA damage response upon UV-irradiation. Taken together, our data provide direct evidence for a protective role of Rac1 in UV-light-induced skin carcinogenesis and keratinocyte apoptosis probably through regulating mechanisms of the DNA damage response and repair pathways. PMID:28277539

Epidermal Rac1 regulates the DNA damage response and protects from UV-light-induced keratinocyte apoptosis and skin carcinogenesis.

PubMed

Deshmukh, Jayesh; Pofahl, Ruth; Haase, Ingo

2017-03-09

Non-melanoma skin cancer (NMSC) is the most common type of cancer. Increased expression and activity of Rac1, a small Rho GTPase, has been shown previously in NMSC and other human cancers; suggesting that Rac1 may function as an oncogene in skin. DMBA/TPA skin carcinogenesis studies in mice have shown that Rac1 is required for chemically induced skin papilloma formation. However, UVB radiation by the sun, which causes DNA damage, is the most relevant cause for NMSC. A potential role of Rac1 in UV-light-induced skin carcinogenesis has not been investigated so far. To investigate this, we irradiated mice with epidermal Rac1 deficiency (Rac1-EKO) and their controls using a well-established protocol for long-term UV-irradiation. Most of the Rac1-EKO mice developed severe skin erosions upon long-term UV-irradiation, unlike their controls. These skin erosions in Rac1-EKO mice healed subsequently. Surprisingly, we observed development of squamous cell carcinomas (SCCs) within the UV-irradiation fields. This shows that the presence of Rac1 in the epidermis protects from UV-light-induced skin carcinogenesis. Short-term UV-irradiation experiments revealed increased UV-light-induced apoptosis of Rac1-deficient epidermal keratinocytes in vitro as well as in vivo. Further investigations using cyclobutane pyrimidine dimer photolyase transgenic mice revealed that the observed increase in UV-light-induced keratinocyte apoptosis in Rac1-EKO mice is DNA damage dependent and correlates with caspase-8 activation. Furthermore, Rac1-deficient keratinocytes showed reduced levels of p53, γ-H2AX and p-Chk1 suggesting an attenuated DNA damage response upon UV-irradiation. Taken together, our data provide direct evidence for a protective role of Rac1 in UV-light-induced skin carcinogenesis and keratinocyte apoptosis probably through regulating mechanisms of the DNA damage response and repair pathways.

Endothelial follistatin-like-1 regulates the postnatal development of the pulmonary vasculature by modulating BMP/Smad signaling

PubMed Central

Tania, Navessa P.; Maarsingh, Harm; T. Bos, I. Sophie; Mattiotti, Andrea; Prakash, Stuti; Timens, Wim; Gunst, Quinn D.; Jimenez-Borreguero, Luis J.; Schmidt, Martina; van den Hoff, Maurice J.B.; Gosens, Reinoud

2017-01-01

Bone morphogenetic protein (BMP) signaling regulates vascular smooth muscle maturation, endothelial cell proliferation, and tube formation. The endogenous BMP antagonist Follistatin-like 1 (Fstl1) is highly expressed in pulmonary vascular endothelium of the developing mouse lung, suggesting a role in pulmonary vascular formation and vascular homeostasis. The aim of this study was to investigate the role of Fstl1 in the pulmonary vascular endothelium. To this aim, Fstl1 was conditionally deleted from endothelial and endothelial-derived cells using Tie2-cre driven Fstl1-KO mice (Fstl1-eKO mice). Endothelial-specific Fstl1 deletion was postnatally lethal, as ∼70% of Fstl1-eKO mice died at three weeks after birth. Deletion of Fstl1 from endothelium resulted in a reduction of right ventricular output at three weeks after birth compared with controls. This was associated with pulmonary vascular remodeling, as the percentage of actin-positive small pulmonary vessels was increased at three weeks in Fstl1-eKO mice compared with controls. Endothelial deletion of Fstl1 resulted in activation of Smad1/5/8 signaling and increased BMP/Smad-regulated gene expression of Jagged1, Endoglin, and Gata2 at one week after birth compared with controls. In addition, potent vasoconstrictor Endothelin-1, the expression of which is driven by Gata2, was increased in expression, both on the mRNA and protein levels, at one week after birth compared with controls. At three weeks, Jagged1 was reduced in the Fstl1-eKO mice whereas Endoglin and Endothelin-1 were unchanged. In conclusion, loss of endothelial Fstl1 in the lung is associated with elevated BMP-regulated genes, impaired small pulmonary vascular remodeling, and decreased right ventricular output. PMID:28680581

Endothelial follistatin-like-1 regulates the postnatal development of the pulmonary vasculature by modulating BMP/Smad signaling.

PubMed

Tania, Navessa P; Maarsingh, Harm; T Bos, I Sophie; Mattiotti, Andrea; Prakash, Stuti; Timens, Wim; Gunst, Quinn D; Jimenez-Borreguero, Luis J; Schmidt, Martina; van den Hoff, Maurice J B; Gosens, Reinoud

2017-03-01

Bone morphogenetic protein (BMP) signaling regulates vascular smooth muscle maturation, endothelial cell proliferation, and tube formation. The endogenous BMP antagonist Follistatin-like 1 (Fstl1) is highly expressed in pulmonary vascular endothelium of the developing mouse lung, suggesting a role in pulmonary vascular formation and vascular homeostasis. The aim of this study was to investigate the role of Fstl1 in the pulmonary vascular endothelium. To this aim, Fstl1 was conditionally deleted from endothelial and endothelial-derived cells using Tie2-cre driven Fstl1 -KO mice ( Fstl1 -eKO mice). Endothelial-specific Fstl1 deletion was postnatally lethal, as ∼70% of Fstl1 -eKO mice died at three weeks after birth. Deletion of Fstl1 from endothelium resulted in a reduction of right ventricular output at three weeks after birth compared with controls. This was associated with pulmonary vascular remodeling, as the percentage of actin-positive small pulmonary vessels was increased at three weeks in Fstl1 -eKO mice compared with controls. Endothelial deletion of Fstl1 resulted in activation of Smad1/5/8 signaling and increased BMP/Smad-regulated gene expression of Jagged1, Endoglin, and Gata2 at one week after birth compared with controls. In addition, potent vasoconstrictor Endothelin-1, the expression of which is driven by Gata2, was increased in expression, both on the mRNA and protein levels, at one week after birth compared with controls. At three weeks, Jagged1 was reduced in the Fstl1 -eKO mice whereas Endoglin and Endothelin-1 were unchanged. In conclusion, loss of endothelial Fstl1 in the lung is associated with elevated BMP-regulated genes, impaired small pulmonary vascular remodeling, and decreased right ventricular output.

Estimating residential price elasticity of demand for water: A contingent valuation approach

NASA Astrophysics Data System (ADS)

Thomas, John F.; Syme, Geoffrey J.

1988-11-01

Residential households in Perth, Western Australia have access to privately extracted groundwater as well as a public mains water supply, which has been charged through a two-part block tariff. A contingent valuation approach is developed to estimate price elasticity of demand for public supply. Results are compared with those of a multivariate time series analysis. Validation tests for the contingent approach are proposed, based on a comparison of predicted behaviors following hypothesised price changes with relevant independent data. Properly conducted, the contingent approach appears to be reliable, applicable where the available data do not favor regression analysis, and a fruitful source of information about social, technical, and behavioral responses to change in the price of water.

Employing quality control and feedback to the EQ-5D-5L valuation protocol to improve the quality of data collection.

PubMed

Purba, Fredrick Dermawan; Hunfeld, Joke A M; Iskandarsyah, Aulia; Fitriana, Titi Sahidah; Sadarjoen, Sawitri S; Passchier, Jan; Busschbach, Jan J V

2017-05-01

In valuing health states using generic questionnaires such as EQ-5D, there are unrevealed issues with the quality of the data collection. The aims were to describe the problems encountered during valuation and to evaluate a quality control report and subsequent retraining of interviewers in improving this valuation. Data from the first 266 respondents in an EQ-5D-5L valuation study were used. Interviewers were trained and answered questions regarding problems during these initial interviews. Thematic analysis was used, and individual feedback was provided. After completion of 98 interviews, a first quantitative quality control (QC) report was generated, followed by a 1-day retraining program. Subsequently individual feedback was also given on the basis of follow-up QCs. The Wilcoxon signed-rank test was used to assess improvements based on 7 indicators of quality as identified in the first QC and the QC conducted after a further 168 interviews. Interviewers encountered problems in recruiting respondents. Solutions provided were: optimization of the time of interview, the use of broader networks and the use of different scripts to explain the project's goals to respondents. For problems in interviewing process, solutions applied were: developing the technical and personal skills of the interviewers and stimulating the respondents' thought processes. There were also technical problems related to hardware, software and internet connections. There was an improvement in all 7 indicators of quality after the second QC. Training before and during a study, and individual feedback on the basis of a quantitative QC, can increase the validity of values obtained from generic questionnaires.

26 CFR 1.642(c)-6 - Valuation of a remainder interest in property transferred to a pooled income fund.

Code of Federal Regulations, 2010 CFR

2010-04-01

... transferred to a pooled income fund. 1.642(c)-6 Section 1.642(c)-6 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Estates, Trusts, and Beneficiaries § 1.642(c)-6 Valuation of a remainder interest in property transferred to a pooled income fund. (a) In...

26 CFR 1.642(c)-6 - Valuation of a remainder interest in property transferred to a pooled income fund.

Code of Federal Regulations, 2011 CFR

2011-04-01

... transferred to a pooled income fund. 1.642(c)-6 Section 1.642(c)-6 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES (CONTINUED) Estates, Trusts, and Beneficiaries § 1.642(c)-6 Valuation of a remainder interest in property transferred to a pooled income fund. (a...

26 CFR 20.2032A-3 - Material participation requirements for valuation of certain farm and closely-held business real...

Code of Federal Regulations, 2013 CFR

2013-04-01

... successive interests in specially valued property (e.g. life estate and remainder interests) from the...-year old widow of farmer C. She lives on a farm for which special valuation has been elected and has... what fields to plant and when to plant and harvest crops are left to E, but D does occasionally make...

The Consortium for the Valuation of Applications Benefits Linked with Earth Science (VALUABLES)

NASA Astrophysics Data System (ADS)

Kuwayama, Y.; Mabee, B.; Wulf Tregar, S.

2017-12-01

National and international organizations are placing greater emphasis on the societal and economic benefits that can be derived from applications of Earth observations, yet improvements are needed to connect to the decision processes that produce actions with direct societal benefits. There is a need to substantiate the benefits of Earth science applications in socially and economically meaningful terms in order to demonstrate return on investment and to prioritize investments across data products, modeling capabilities, and information systems. However, methods and techniques for quantifying the value proposition of Earth observations are currently not fully established. Furthermore, it has been challenging to communicate the value of these investments to audiences beyond the Earth science community. The Consortium for the Valuation of Applications Benefits Linked with Earth Science (VALUABLES), a cooperative agreement between Resources for the Future (RFF) and the National Aeronautics and Space Administration (NASA), has the goal of advancing methods for the valuation and communication of the applied benefits linked with Earth observations. The VALUABLES Consortium will focus on three pillars: (a) a research pillar that will apply existing and innovative methods to quantify the socioeconomic benefits of information from Earth observations; (b) a capacity building pillar to catalyze interdisciplinary linkages between Earth scientists and social scientists; and (c) a communications pillar that will convey the value of Earth observations to stakeholders in government, universities, the NGO community, and the interested public. In this presentation, we will describe ongoing and future activities of the VALUABLES Consortium, provide a brief overview of frameworks to quantify the socioeconomic value of Earth observations, and describe how Earth scientists and social scientist can get involved in the Consortium's activities.

26 CFR 25.7520-1 - Valuation of annuities, unitrust interests, interests for life or terms of years, and remainder...

Code of Federal Regulations, 2010 CFR

2010-04-01

...) ESTATE AND GIFT TAXES GIFT TAX; GIFTS MADE AFTER DECEMBER 31, 1954 General Actuarial Valuations § 25.7520... certain circumstances), in the case of gifts made after April 30, 1989, the fair market value of annuities.... (2) For a gift to a pooled income fund prior to May 1, 2009, see § 1.642(c)-6A (Income Tax...

Council tax valuation bands and contacts with a GP out-of-hours service.

PubMed

Beale, Norman; Taylor, Gordon; Gwynne, Mark; Peart, Carole

2006-04-01

UK GPs are no longer responsible for the organisation of out-of-hours care for their patients, but resources remains capitation-based. This cross-sectional study tests whether council tax valuation bands can predict the demand for such services. All out-of-hours contacts made by patients in North Wiltshire over 4 months were classified by council tax band; frequencies compared with official population statistics. Council tax band predicts out-of-hours GP workload irrespective of age and sex: the more modest the home, the higher the GP contact rate. It may prove more difficult to sustain out-of-hours services in deprived parts of the UK.

Willingness to pay for publicly financed health care services in Central and Eastern Europe: evidence from six countries based on a contingent valuation method.

PubMed

Tambor, Marzena; Pavlova, Milena; Rechel, Bernd; Golinowska, Stanisława; Sowada, Christoph; Groot, Wim

2014-09-01

The increased interest in patient cost-sharing as a measure for sustainable health care financing calls for evidence to support the development of effective patient payment policies. In this paper, we present an application of a stated willingness-to-pay technique, i.e. contingent valuation method, to investigate the consumer's willingness and ability to pay for publicly financed health care services, specifically hospitalisations and consultations with specialists. Contingent valuation data were collected in nationally representative population-based surveys conducted in 2010 in six Central and Eastern European (CEE) countries (Bulgaria, Hungary, Lithuania, Poland, Romania and Ukraine) using an identical survey methodology. The results indicate that the majority of health care consumers in the six CEE countries are willing to pay an official fee for publicly financed health care services that are of good quality and quick access. The consumers' willingness to pay is limited by the lack of financial ability to pay for services, and to a lesser extent by objection to pay. Significant differences across the six countries are observed, though. The results illustrate that the contingent valuation method can provide decision-makers with a broad range of information to facilitate cost-sharing policies. Nevertheless, the intrinsic limitations of the method (i.e. its hypothetical nature) and the context of CEE countries call for caution when applying its results. Copyright © 2014 Elsevier Ltd. All rights reserved.

Intangible costs of alcohol dependence from the perspective of patients and their relatives: A contingent valuation study.

PubMed

Mosquera Nogueira, Jacinto; Rodríguez-Míguez, Eva

2018-04-15

Alcohol dependence causes multiple problems not only for the person suffering dependence but also for others. In this study, the contingent valuation method is proposed to measure the intangible effects of alcohol dependence from the perspective of the persons directly involved: the patients and their relatives. Interviews were conducted with 145 patients and 61 relatives. Intangible effects of alcohol dependence were determined based on willingness to pay for a hypothetical treatment for dependence, with different success scenarios (100% and 50%). The mean monthly willingness to pay among the alcohol-dependent population was €129 and €168, respectively, for the treatments with 100% and 50% success. The willingness to pay of relatives was greater in both scenarios (€307 and €420, respectively), which could be explained by their greater perception of the family, labour, and health problems resulting from alcohol dependence. Regression analysis showed that patients' willingness to pay is positively related to treatment efficacy, personal income and moderate health deterioration, and negatively related to feeling discouraged and depressed. The results from this study can be applied to economic valuation studies that aim to measure the benefits of programs intended to reduce the prevalence of alcohol dependence. The intangible costs estimated can be added to the direct and indirect costs commonly used.

Applying Q-methodology to select and define attributes for non-market valuation: A case study from Northwest Wyoming, United States

Treesearch

Christopher A. Armatas; Tyron J. Venn; Alan E. Watson

2014-01-01

The underlying validity of stated preference non-market valuation methods relies on the analyst's ability to identify, select, define, and articulate the goods being valued in a way that is relevant and understandable to the respondent, which requires detailed understanding of the respondents' experiences and points of view. Poor articulation of the good...

Willingness to Pay Survey for Chesapeake Bay Total ...

EPA Pesticide Factsheets

A stated preference survey to collect data on households’ use of Chesapeake Bay and its watershed, and of their preferences for a variety of water quality improvements likely to follow from pollution reduction programs. The goal of the project is to obtain valuation estimates that can be used to evaluate alternative policies and approaches to improving water in the Chesapeake Bay.

Valuation of biodiversity effects from reduced pesticide use.

PubMed

Schou, Jesper S; Hasler, Berit; Nahrstedt, Birgit

2006-04-01

This study deals with the effects on biodiversity of pesticide-free buffer zones along field margins. Using choice modeling, the majority of respondents to a survey on pesticide use in the environment are willing to accept an increase in the price of bread if the survival of partridge chicks and the number of wild plants increase. The study identifies the need for further empirical work with respect to methodological validation, price estimation, and the use of survey results in policy analysis. In particular, the environmental effects of pesticide use are complex and, therefore, present difficult challenges when presenting information to lay people. Forty-one percent of respondents changed their responses regarding willingness to pay more for bread when references to pesticide use were introduced in the questionnaire. This indicates that scenarios depicting changes in pesticide use can be difficult to present to lay people in an economically rational and well-defined context. Thus, in the study of valuation related to changes in pesticide use, much attention should be devoted to the design and definition of the context. Furthermore, the effects of providing different background information, e.g., with or without the mention of pesticides, should be tested.

Survey data on factors affecting negotiation of professional fees between Estate Valuers and their clients when the mortgage is financed by bank loan: A case study of mortgage valuations in Ikeja, Lagos State, Nigeria.

PubMed

Iroham, Chukwuemeka O; Okagbue, Hilary I; Ogunkoya, Olalekan A; Owolabi, James D

2017-06-01

In this article, two sets of questionnaires were administered to professionals and clients (commercial banks) on their willingness to negotiate the professional fees charged by the Estate Valuers assuming that the mortgage in valuation was financed by bank loan. A range of fees options were provided. Other factors such as the business environment and mortgage valuation can influence the negotiated fees when the data obtained from the survey data is analyzed.

Warm glow, free-riding and vehicle neutrality in a health-related contingent valuation study.

PubMed

Hackl, Franz; Pruckner, Gerald J

2005-03-01

Criticism of contingent valuation (CV) stresses warm glow and free-riding as possible causes for biased willingness to pay figures. We present an empirical framework to study the existence of warm glow and free-riding in hypothetical WTP answers based on a CV survey for the measurement of health-related Red Cross services. Both in conventional double-bounded and spike models we do not find indication of warm glow phenomena and free-riding behaviour. The results are very robust and insensitive to the applied payment vehicles. Theoretical objections against CV do not find sufficient empirical support.

Are Health State Valuations from the General Public Biased? A Test of Health State Reference Dependency Using Self-assessed Health and an Efficient Discrete Choice Experiment.

PubMed

Jonker, Marcel F; Attema, Arthur E; Donkers, Bas; Stolk, Elly A; Versteegh, Matthijs M

2017-12-01

Health state valuations of patients and non-patients are not the same, whereas health state values obtained from general population samples are a weighted average of both. The latter constitutes an often-overlooked source of bias. This study investigates the resulting bias and tests for the impact of reference dependency on health state valuations using an efficient discrete choice experiment administered to a Dutch nationally representative sample of 788 respondents. A Bayesian discrete choice experiment design consisting of eight sets of 24 (matched pairwise) choice tasks was developed, with each set providing full identification of the included parameters. Mixed logit models were used to estimate health state preferences with respondents' own health included as an additional predictor. Our results indicate that respondents with impaired health worse than or equal to the health state levels under evaluation have approximately 30% smaller health state decrements. This confirms that reference dependency can be observed in general population samples and affirms the relevance of prospect theory in health state valuations. At the same time, the limited number of respondents with severe health impairments does not appear to bias social tariffs as obtained from general population samples. Copyright © 2016 John Wiley & Sons, Ltd. Copyright © 2016 John Wiley & Sons, Ltd.

Assessment and economic valuation of air pollution impacts on human health over Europe and the United States as calculated by a multi-model ensemble in the framework of AQMEII3

NASA Astrophysics Data System (ADS)

Im, Ulas; Brandt, Jørgen; Geels, Camilla; Mantzius Hansen, Kaj; Heile Christensen, Jesper; Skou Andersen, Mikael; Solazzo, Efisio; Kioutsioukis, Ioannis; Alyuz, Ummugulsum; Balzarini, Alessandra; Baro, Rocio; Bellasio, Roberto; Bianconi, Roberto; Bieser, Johannes; Colette, Augustin; Curci, Gabriele; Farrow, Aidan; Flemming, Johannes; Fraser, Andrea; Jimenez-Guerrero, Pedro; Kitwiroon, Nutthida; Liang, Ciao-Kai; Nopmongcol, Uarporn; Pirovano, Guido; Pozzoli, Luca; Prank, Marje; Rose, Rebecca; Sokhi, Ranjeet; Tuccella, Paolo; Unal, Alper; Garcia Vivanco, Marta; West, Jason; Yarwood, Greg; Hogrefe, Christian; Galmarini, Stefano

2018-04-01

The impact of air pollution on human health and the associated external costs in Europe and the United States (US) for the year 2010 are modeled by a multi-model ensemble of regional models in the frame of the third phase of the Air Quality Modelling Evaluation International Initiative (AQMEII3). The modeled surface concentrations of O3, CO, SO2 and PM2.5 are used as input to the Economic Valuation of Air Pollution (EVA) system to calculate the resulting health impacts and the associated external costs from each individual model. Along with a base case simulation, additional runs were performed introducing 20 % anthropogenic emission reductions both globally and regionally in Europe, North America and east Asia, as defined by the second phase of the Task Force on Hemispheric Transport of Air Pollution (TF-HTAP2). Health impacts estimated by using concentration inputs from different chemistry-transport models (CTMs) to the EVA system can vary up to a factor of 3 in Europe (12 models) and the United States (3 models). In Europe, the multi-model mean total number of premature deaths (acute and chronic) is calculated to be 414 000, while in the US, it is estimated to be 160 000, in agreement with previous global and regional studies. The economic valuation of these health impacts is calculated to be EUR 300 billion and 145 billion in Europe and the US, respectively. A subset of models that produce the smallest error compared to the surface observations at each time step against an all-model mean ensemble results in increase of health impacts by up to 30 % in Europe, while in the US, the optimal ensemble mean led to a decrease in the calculated health impacts by ˜ 11 %. A total of 54 000 and 27 500 premature deaths can be avoided by a 20 % reduction of global anthropogenic emissions in Europe and the US, respectively. A 20 % reduction of North American anthropogenic emissions avoids a total of ˜ 1000 premature deaths in Europe and 25 000 total premature deaths in the

Valuation and handling of dialogue in leadership: a grounded theory study in Swedish hospitals.

PubMed

Grill, C; Ahlborg, G; Lindgren, E C

2011-01-01

Leadership can positively affect the work environment and health. Communication and dialogue are an important part in leadership. Studies of how dialogue is valued and handled in first-line leadership have not so far been found. The aim of this study is to develop a theoretical understanding of how first-line leaders at hospitals in western Sweden value and handle dialogue in the organisation. The study design was explorative and based on grounded theory. Data collection consisted of interviews and observations. A total of 11 first-line leaders at two hospitals in western Sweden were chosen as informants, and for four of them observation was also used. One core category emerged in the analysis: leaders' communicative actions, which could be strategically or understanding-oriented, and experienced as equal or unequal and performed equitably or inequitably, within a power relationship. Four different types of communicativeactions emerged: collaborative, nurturing, controlling, and confrontational. Leaders had strategies for creating arenas and relationships for dialogue, but dialogue could be constrained by external circumstances or ignorance of the frameworks needed to conduct and accomplish dialogue. First-line leaders should be offered guidance in understanding the consequences of consciously choosing and strengthening the communication component in leadership. The positive valuation of dialogue was not always manifest in practical action. One significant consequence of not using dialogue was that information with impact on organisational efficiency and finances was communicated upwards in the management system.

Ecosystem services valuation to support decisionmaking on public lands—A case study of the San Pedro River watershed, Arizona

USGS Publications Warehouse

Bagstad, Kenneth J.; Semmens, Darius; Winthrop, Rob; Jaworksi, Delilah; Larson, Joel

2012-01-01

This report details the findings of the Bureau of Land Management–U.S. Geological Survey Ecosystem Services Valuation Pilot Study. This project evaluated alternative methods and tools that quantify and value ecosystem services, and it assessed the tools’ readiness for use in the Bureau of Land Management decisionmaking process. We tested these tools on the San Pedro River watershed in northern Sonora, Mexico, and southeast Arizona. The study area includes the San Pedro Riparian National Conservation Area (managed by the Bureau of Land Management), which has been a focal point for conservation activities and scientific research in recent decades. We applied past site-specific primary valuation studies, value transfer, the Wildlife Habitat Benefits Estimation Toolkit, and the Integrated Valuation of Ecosystem Services and Tradeoffs (InVEST) and Artificial Intelligence for Ecosystem Services (ARIES) models to value locally important ecosystem services for the San Pedro River watershed—water, carbon, biodiversity, and cultural values. We tested these approaches on a series of scenarios to evaluate ecosystem service changes and the ability of the tools to accommodate scenarios. A suite of additional tools were either at too early a stage of development to run, were proprietary, or were place-specific tools inappropriate for application to the San Pedro River watershed. We described the strengths and weaknesses of these additional ecosystem service tools against a series of evaluative criteria related to their usefulness for Bureau of Land Management decisionmaking. Using these tools, we quantified gains or losses of ecosystem services under three categories of scenarios: urban growth, mesquite management, and water augmentation. These results quantify tradeoffs and could be useful for decisionmaking within Bureau of Land Management district or field offices. Results are accompanied by a relatively high level of uncertainty associated with model outputs, valuation

Stock price dynamics and option valuations under volatility feedback effect

NASA Astrophysics Data System (ADS)

Kanniainen, Juho; Piché, Robert

2013-02-01

According to the volatility feedback effect, an unexpected increase in squared volatility leads to an immediate decline in the price-dividend ratio. In this paper, we consider the properties of stock price dynamics and option valuations under the volatility feedback effect by modeling the joint dynamics of stock price, dividends, and volatility in continuous time. Most importantly, our model predicts the negative effect of an increase in squared return volatility on the value of deep-in-the-money call options and, furthermore, attempts to explain the volatility puzzle. We theoretically demonstrate a mechanism by which the market price of diffusion return risk, or an equity risk-premium, affects option prices and empirically illustrate how to identify that mechanism using forward-looking information on option contracts. Our theoretical and empirical results support the relevance of the volatility feedback effect. Overall, the results indicate that the prevailing practice of ignoring the time-varying dividend yield in option pricing can lead to oversimplification of the stock market dynamics.

Valuation of Life in Old and Very Old Age: The Role of Sociodemographic, Social, and Health Resources for Positive Adaptation

ERIC Educational Resources Information Center

Jopp, Daniela; Rott, Christoph; Oswald, Frank

2008-01-01

Purpose: Valuation of life (VOL) represents a construct capturing active attachment to life put forward by M. P. Lawton (e.g., 1999). As old and very old individuals may differ in terms of endorsement and with respect to what makes a life worth living, the present study investigated whether mean levels and the explanatory value of…

Intangible asset valuation, damages, and transfer price analyses in the health care industry.

PubMed

Reilly, Robert F

2010-01-01

Most health care industry participants own and operate intangible assets. These intangible assets can be industry-specific (e.g., patient charts and records, certificates of need, professional and other licenses), or they can be general commercial intangible assets (e.g., trademarks, systems and procedures, an assembled workforce). Many industry participants have valued their intangible assets for financial accounting or other purposes. This article summarizes the intangible assets that are common to health care industry participants. This article describes the different types of intangible asset analyses (including valuation, transfer price, damages estimates, etc.), and explains the many different transaction, accounting, taxation, regulatory, litigation, and other reasons why industry participants may wish to value (or otherwise analyze) health care intangible assets.

Comparing Value of Urban Green Space Using Contingent Valuation and Travel Cost Methods

NASA Astrophysics Data System (ADS)

Chintantya, Dea; Maryono

2018-02-01

Green urban open space are an important element of the city. They gives multiple benefits for social life, human health, biodiversity, air quality, carbon sequestration, and water management. Travel Cost Method (TCM) and Contingent Valuation Method (CVM) are the most frequently used method in various studies that assess environmental good and services in monetary term for valuing urban green space. Both of those method are determined the value of urban green space through willingness to pay (WTP) for ecosystem benefit and collected data through direct interview and questionnaire. Findings of this study showed the weaknesses and strengths of both methods for valuing urban green space and provided factors influencing the probability of user's willingness to pay in each method.

Time trade-off and attitudes toward euthanasia: implications of using 'death' as an anchor in health state valuation.

PubMed

Augestad, Liv A; Rand-Hendriksen, Kim; Stavem, Knut; Kristiansen, Ivar Sønbø

2013-05-01

Health state values are by convention anchored to 'perfect health' and 'death.' Attitudes toward death may consequently influence the valuations. We used attitudes toward euthanasia (ATE) as a sub-construct for attitudes toward death. We compared the influence on values elicited with time trade-off (TTO), lead-time TTO (LT-TTO) and visual analogue scale (VAS).Since the 'death' anchor is most explicit in TTO, we hypothesized that TTO values would be most influenced by ATE. Respondents valued eight EQ-5D health states with VAS, then TTO (n = 328) or LT-TTO (n = 484). We measured ATE on a scale from -2 (fully disagree) to 2 (fully agree) and used multiple linear regressions to predict VAS, TTO, and LT-TTO values by ATE, sex, age, and education. A one-point increase on the ATE scale predicted a mean TTO value change of -.113 and LT-TTO change of -.072. Demographic variables, but not ATE, predicted VAS values. TTO appears to measure ATE in addition to preferences for health states. Different ways of incorporating death in the valuation may impact substantially on the resulting values. 'Death' is a metaphysically unknown concept, and implications of attitudes toward death should be investigated further to evaluate the appropriateness of using 'death' as an anchor.

Optimization Model for cooperative water allocation and valuation in large river basins regarding environmental constraints

NASA Astrophysics Data System (ADS)

Pournazeri, S.

2011-12-01

A comprehensive optimization model named Cooperative Water Allocation Model (CWAM) is developed for equitable and efficient water allocation and valuation of Zab river basin in order to solve the draught problems of Orumieh Lake in North West of Iran. The model's methodology consists of three phases. The first represents an initial water rights allocation among competing users. The second comprises the water reallocation process for complete usage by consumers. The third phase performs an allocation of the net benefit of the stakeholders participating in a coalition by applying cooperative game theory. The environmental constraints are accounted for in the water allocation model by entering probable environmental damage in a target function, and inputting the minimum water requirement of users. The potential of underground water usage is evaluated in order to compensate for the variation in the amount of surface water. This is conducted by applying an integrated economic- hydrologic river basin model. A node-link river basin network is utilized in CWAM which consists of two major blocks. The first indicates the internal water rights allocation and the second is associated to water and net benefit reallocation. System control, loss in links by evaporation or seepage, modification of inflow into the node, loss in nodes and loss in outflow are considered in this model. Water valuation is calculated for environmental, industrial, municipal and agricultural usage by net benefit function. It can be seen that the water rights are allocated efficiently and incomes are distributed appropriately based on quality and quantity limitations.

Being there is important, but getting there matters too: the role of path in the valuation process.

PubMed

Goldberg, Julie H

2006-01-01

Traditional decision-analytic models presume that utilities are invariant to context. The influence of 2 types of context on patients' utility assessments was examined here the path by which one reaches a health state and personal experience with a health state. Three groups of patients were interviewed: men older than age 49 years with prostate cancer but no diabetes (CaP), diabetes but no prostate cancer (DM), and neither disease (ND). The utility of erectile dysfunction (ED) was assessed using a standard gamble (SG). Each subject completed 2 SGs: 1) a no-context version that gave no explanation for the cause of ED and 2) a contextualized version in which prostate cancer treatment, the failure to manage diabetes, or the natural course of aging was said to be the cause. Patients with disease assigned higher utilities to ED in a matching context than in discrepant contexts. Regression models found that the valuation process was also sensitive to the match between disease path in the utility assessment and patients' personal experiences. These findings lend insight into why acontextual utility assessments typically used in decision analyses have not been able to predict patient behavior as well as expected. The valuation process appears to change systematically when context is specified, suggesting that unspecified contexts rather than random error may lead to fluctuations in the values assigned to identical health states.

Environmentally Related Diseases and the Possibility of Valuation of Their Social Costs

PubMed Central

Hajok, Ilona; Marchwińska, Ewa; Dziubanek, Grzegorz; Kuraszewska, Bernadeta; Piekut, Agata

2014-01-01

The risks of the morbidity of the asbestos-related lung cancer was estimated in the general population of Poles as the result of increased exposure to asbestos fibers during the removal of asbestos-cement products and the possibility of the valuation of the social costs related to this risk. The prediction of the new incidences was made using linear regression model. The forecast shows that to the end of 2030 about 3,500 new cases of lung cancer can be expected as a result of occupational exposure to asbestos in the past which makes together with paraoccupational exposure about 14.000 new cases. The forecast shows the increasing number of asbestos-related lung cancer in Poland and indicates the priority areas where preventive action should be implemented. PMID:25374934

Urban green valuation integrating biophysical and qualitative aspects.

PubMed

Lang, Stefan

2018-01-01

Urban green mapping has become an operational task in city planning, urban land management, and quality of life assessments. As a multi-dimensional, integrative concept, urban green comprising several ecological, socio-economic, and policy-related aspects. In this paper, the author advances the representation of urban green by deriving scale-adapted, policy-relevant units. These so-called geons represent areas of uniform green valuation under certain size and homogeneity constraints in a spatially explicit representation. The study accompanies a regular monitoring scheme carried out by the urban municipality of the city of Salzburg, Austria, using optical satellite data. It was conducted in two stages, namely SBG_QB (10.2 km², QuickBird data from 2005) and SBG_WV (140 km², WorldView-2 data from 2010), within the functional urban area of Salzburg. The geon delineation was validated by several quantitative measures and spatial analysis techniques, as well as ground documentation, including panorama photographs and visual interpretation. The spatial association pattern was assessed by calculating Global Moran's I with incremental search distances. The final geonscape, consisting of 1083 units with an average size of 13.5 ha, was analyzed by spatial metrics. Finally, categories were derived for different types of functional geons. Future research paths and improvements to the described strategy are outlined.

The protective service of mangrove ecosystems: A review of valuation methods.

PubMed

Barbier, Edward B

2016-08-30

Concern over the loss of mangrove ecosystems often focuses on their role in protecting coastal communities from storms that damage property and cause deaths and injury. With climate change, mangrove loss may also result in less protection against coastal storms as well as sea-level rise, saline intrusion and erosion. Past valuations of the storm protection benefit of mangroves have relied on the second-best replacement cost method, such as estimating this protective value with the cost of building human-made storm barriers. More reliable methods instead model the production of the protection service of mangroves and estimate its value in terms of reducing the expected damages or deaths avoided by coastal communities. This paper reviews recent methods of valuing the storm protection service of mangroves and their role in protecting coastal areas and communities of tropical developing countries. Copyright © 2016 Elsevier Ltd. All rights reserved.

Workshop: Improving the Assessment and Valuation of Climate Change Impacts for Policy and Regulatory Analysis: Modeling Climate Change Impacts and Associated Economic Damages (2011 - part 2)

EPA Pesticide Factsheets

The purpose of this workshop Improving the Assessment and Valuation of Climate Change Impacts for Policy and Regulatory Analysis. focused on conceptual and methodological issues - estimating impacts and valuing damages on a sectoral basis.

The Monetary Valuation of Lifetime Health Improvement and Life Expectancy Gains in Turkey

PubMed Central

Tekeşin, Cem

2017-01-01

The main objective of this study is to estimate the monetary value of the gains of healthy days and life expectancy due to the ambient air quality standard that came into effect in 2014 by estimating the country-specific value of a life year (VOLY) and the value of the healthier and longer life (VHLL) for Turkey. Contingent valuation method is adopted to reveal individuals’ willingness to pay for an improvement of health condition and the extension of their life expectancy by avoiding respiratory and lung related illnesses. VHLL is composed of two parts, WTP for an extension of one’s life years (VOLY) and for an increase in the number of healthy days throughout one’s life time (VHLL-VOLY). We found that close to 80% of WTP is allocated to the latter component of VHLL and only 20% is for VOLY mainly due to Islamic beliefs of the respondents. A total of 1314 observations are collected by face-to-face interviews from Afsin-Elbistan, Kutahya-Tavsanli and Ankara. The estimated VHLL and VOLY are [41,750 TL, 10,258 TL] with all the observations, [30,185 TL, 7132 TL] for Afsin-Elbistan, [31,718 TL, 7081 TL] for Kutahya-Tavsanli and [52,334 TL, 14,813 TL] for Ankara. The Inverse-U shaped relationship between Age and WTP is confirmed. The income elasticities of WTP is found to be close to 0.5 for all study areas while an Inverse-U shaped relationship between the household income and Income Elasticity of WTP is observed in the income group based analysis. Age and household income are the two prominent determinants of VHLL. PMID:28961227

The Monetary Valuation of Lifetime Health Improvement and Life Expectancy Gains in Turkey.

PubMed

Ara, Shihomi; Tekeşin, Cem

2017-09-29

The main objective of this study is to estimate the monetary value of the gains of healthy days and life expectancy due to the ambient air quality standard that came into effect in 2014 by estimating the country-specific value of a life year (VOLY) and the value of the healthier and longer life (VHLL) for Turkey. Contingent valuation method is adopted to reveal individuals' willingness to pay for an improvement of health condition and the extension of their life expectancy by avoiding respiratory and lung related illnesses. VHLL is composed of two parts, WTP for an extension of one's life years (VOLY) and for an increase in the number of healthy days throughout one's life time (VHLL-VOLY). We found that close to 80% of WTP is allocated to the latter component of VHLL and only 20% is for VOLY mainly due to Islamic beliefs of the respondents. A total of 1314 observations are collected by face-to-face interviews from Afsin-Elbistan, Kutahya-Tavsanli and Ankara. The estimated VHLL and VOLY are [41,750 TL, 10,258 TL] with all the observations, [30,185 TL, 7132 TL] for Afsin-Elbistan, [31,718 TL, 7081 TL] for Kutahya-Tavsanli and [52,334 TL, 14,813 TL] for Ankara. The Inverse-U shaped relationship between Age and WTP is confirmed. The income elasticities of WTP is found to be close to 0.5 for all study areas while an Inverse-U shaped relationship between the household income and Income Elasticity of WTP is observed in the income group based analysis. Age and household income are the two prominent determinants of VHLL.

Testing the convergent validity of the contingent valuation and travel cost methods in valuing the benefits of health care.

PubMed

Clarke, Philip M

2002-03-01

In this study, the convergent validity of the contingent valuation method (CVM) and travel cost method (TCM) is tested by comparing estimates of the willingness to pay (WTP) for improving access to mammographic screening in rural areas of Australia. It is based on a telephone survey of 458 women in 19 towns, in which they were asked about their recent screening behaviour and their WTP to have a mobile screening unit visit their nearest town. After eliminating missing data and other non-usable responses the contingent valuation experiment and travel cost model were based on information from 372 and 319 women, respectively. Estimates of the maximum WTP for the use of mobile screening units were derived using both methods and compared. The highest mean WTP estimated using the TCM was $83.10 (95% C.I. $99.06-$68.53), which is significantly less than the estimate of $148.09 ($131.13-$166.60) using the CVM. This could be due to the CVM estimates also reflecting non-use values such as altruism, or a range of potential biases that are known to affect both methods. Further tests of validity are required in order to gain a greater understanding of the relationship between these two methods of estimating WTP. Copyright 2001 John Wiley & Sons, Ltd.

Elucidating the underlying components of food valuation in the human orbitofrontal cortex.

PubMed

Suzuki, Shinsuke; Cross, Logan; O'Doherty, John P

2017-12-01

The valuation of food is a fundamental component of our decision-making. Yet little is known about how value signals for food and other rewards are constructed by the brain. Using a food-based decision task in human participants, we found that subjective values can be predicted from beliefs about constituent nutritive attributes of food: protein, fat, carbohydrates and vitamin content. Multivariate analyses of functional MRI data demonstrated that, while food value is represented in patterns of neural activity in both medial and lateral parts of the orbitofrontal cortex (OFC), only the lateral OFC represents the elemental nutritive attributes. Effective connectivity analyses further indicate that information about the nutritive attributes represented in the lateral OFC is integrated within the medial OFC to compute an overall value. These findings provide a mechanistic account for the construction of food value from its constituent nutrients.

An Assessment of Farmers' Willingness to Pay for Extension Services Using the Contingent Valuation Method (CVM): The Case of Oyo State, Nigeria

ERIC Educational Resources Information Center

Ajayi, A. O.

2006-01-01

This study assessed farmers' willingness to pay (WTP) for extension services. The Contingent Valuation Method (CVM) was used to assess the amount which farmers are willing to pay. Primary data on the demographic, socio-economic variables of farmers and their WTP were collected from 228 farmers selected randomly in a stage-wise sampling procedure…

The valuation of equity warrants under the fractional Vasicek process of the short-term interest rate

NASA Astrophysics Data System (ADS)

Xiao, Weilin; Zhang, Weiguo; Zhang, Xili; Chen, Xiaoyan

2014-01-01

Motivated by the empirical evidence of long range dependence in short-term interest rates and considering the long maturities of equity warrants, we propose the fractional Vasicek model to describe the dynamics of the short rate in the pricing environment of equity warrants. Using the partial differential equation approach, we present a valuation model for equity warrants under the assumption that the short rate follows the fractional Vasicek process. After identifying the pricing model for equity warrants, we provide the parameter estimation procedure for the proposed pricing model. Since obtaining the values of equity warrants from the proposed model needs to solve a nonlinear equation, we employ a hybrid intelligent algorithm to get around this optimization problem. Furthermore, to illustrate the practicality of our proposed model, we conduct an empirical study to ascertain the performance of our proposed model using the data from China’s warrant market and the China Foreign Exchange Trade System. The comparison of traditional models (such as the Black-Scholes model, the Noreen-Wolfson model, the Lauterbach-Schultz model, and the Ukhov model) with our proposed model is also presented. The empirical results show that the mean absolute percentage error of our pricing model is 10.30%. By contrast, the Black-Scholes model, the Noreen-Wolfson model, the Lauterbach-Schultz model, and the Ukhov model applied to the same warrant produce mean absolute errors of 35.26%, 37.67%, 33.40%, 32.81%, respectively. Thus the long memory property in stochastic interest rates cannot be ignored in determining the valuation of equity warrants.

Fractionating choice: A study on reward discrimination, preference and relative valuation in the rat (Rattus norvegicus)

PubMed Central

Ricker, Joshua M.; Hatch, Justin D.; Powers, Daniel D.; Cromwell, Howard C.

2016-01-01

Choice behavior combines discrimination between distinctive outcomes, preference for specific outcomes and relative valuation of comparable outcomes. Previous work has focused on one component (i.e., preference) disregarding other influential processes that might provide a more complete understanding. Animal models of choice have been explored primarily utilizing extensive training, limited freedom for multiple decisions and sparse behavioral measures constrained to a single phase of motivated action. The present study used a paradigm that combines different elements of previous methods with the goal to distinguish among components of choice and explore how well components match predictions based on risk-sensitive foraging strategies. In order to analyze discrimination and relative valuation, it was necessary to have an option that shifted and an option that remained constant. Shifting outcomes among weeks included a change in single-option outcome (0 to 1 to 2 pellets) or a change in mixed-option outcome (0 or 5 to 0 or 3 to 0 or 1 pellets). Constant outcomes among weeks were also mixedoption (0 or 3 pellets) or single-option (1 pellet). Shifting single-option outcomes among weeks led to better discrimination, more robust preference and significant incentive contrast effects for the alternative outcome. Shifting multi-options altered choice components and led to dissociations among discrimination, preference, and reduced contrast effects. During extinction, all components were impacted with the greatest deficits during the shifting mixed-option outcome sessions. Results suggest choice behavior can be optimized for one component but suboptimal for others depending upon the complexity of alterations in outcome value between options. PMID:27078079

Using contingent valuation to explore willingness to pay for renewable energy: A comparison of collective and voluntary payment vehicles

DOE Office of Scientific and Technical Information (OSTI.GOV)

Wiser, Ryan H.

Some of the most basic questions about the organization and functioning of society involve issues raised by the existence of public goods. With respect to environmental public goods, how should funds used to support environmental improvement be collected and used? In particular, are collective, mandatory payments superior to voluntary, charitable payments due to the possibility of free riding? And to what degree should the government be involved in spending these funds: should the government directly fund environmental improvement projects or should the private sector be used to collect funds and determine funding priorities? This report explores these questions from themore » perspective of renewable energy: wind, geothermal, biomass, hydropower, and solar. In particular, this report analyzes the payment preferences of U.S. households through the implementation of a large-scale contingent valuation (CV) survey of willingness to pay (WTP) for renewable energy. Renewable energy can be supported through a mandatory ''tax'' on electric bills or through voluntary payments via green power marketing; the government may or may not be heavily involved in the collection and expenditure of such funds. The question of how households prefer to pay for renewable energy is therefore highly relevant. The primary objective of this study is to explore variations in stated WTP for renewable energy under the following four payment and provision contexts: (1) A mandatory increase in the electricity bills of all customers, the funds from which are collected and spent by the government on renewable energy projects. (2) A voluntary increase in the electricity bills of those customers who choose to pay, the funds from which are collected and spent by the government on renewable energy projects. (3) A voluntary increase in the electricity bills of those customers who choose to pay, the funds from which are collected and spent by electricity suppliers on renewable energy projects. (4) A

Valuing the benefits of genetic testing for retinitis pigmentosa: a pilot application of the contingent valuation method.

PubMed

Eden, Martin; Payne, Katherine; Combs, Ryan M; Hall, Georgina; McAllister, Marion; Black, Graeme C M

2013-08-01

Technological advances present an opportunity for more people with, or at risk of, developing retinitis pigmentosa (RP) to be offered genetic testing. Valuation of these tests using current evaluative frameworks is problematic since benefits may be derived from diagnostic information rather than improvements in health. This pilot study aimed to explore if contingent valuation method (CVM) can be used to value the benefits of genetic testing for RP. CVM was used to elicit willingness-to-pay (WTP) values for (1) genetic counselling and (2) genetic counselling with genetic testing. Telephone and face-to-face interviews with a purposive sample of individuals with (n=25), and without (n=27), prior experience of RP were used to explore the feasibility and validity of CVM in this context. Faced with a hypothetical scenario, the majority of participants stated that they would seek genetic counselling and testing in the context of RP. Between participant groups, respondents offered similar justifications for stated WTP values. Overall stated WTP was higher for genetic counselling plus testing (median=£524.00) compared with counselling alone (median=£224.50). Between-group differences in stated WTP were statistically significant; participants with prior knowledge of the condition were willing to pay more for genetic ophthalmology services. Participants were able to attach a monetary value to the perceived potential benefit that genetic testing offered regardless of prior experience of the condition. This exploratory work represents an important step towards evaluating these services using formal cost-benefit analysis.

Valuation of Residential Premises for the Purposes of Securing the Receivables of the Creditor in Poland

NASA Astrophysics Data System (ADS)

Hełdak, Maria; Stacherzak, Agnieszka

2017-10-01

The study presents an analysis of the theoretical and practical issues connected with securing the receivables of creditors, in particular the principles connected with the appraisal of real property value used for the purposes of granting loans in Poland. The scope of research included the basic elements of the functioning and organisation of the Polish banking system, legal forms of securing debt receivables and the principles of real property valuation for universal and mortgage banks. Additionally, the authors have conducted an analysis of the number and amount of loans granted in Poland in the years 2009 - 2016

Economic Valuation for Improved Water Quality: Analyzing the Public's Preferences Using Geospatial Analysis

NASA Astrophysics Data System (ADS)

Tsagarakis, Konstantinos P.; Mavragani, Amaryllis; Gemitzi, Alexandra

2017-04-01

As the subject of water quality in the European Union is becoming all the more important, public awareness is of significant importance in exploring ways towards the implementation of better water quality. Over the last decade, significant steps towards this direction have been employed in EU, such as Directive 2008/105/EC and Directive 2013/39/EU and Groundwater Directive and Decision 2015/495. What has been suggested so far is that public participation and information levels are relatively low in some EU countries. This paper focuses on providing a review on economic valuation in EU and in regions with degradated waters by applying geospatial techniques. Overall, it is shown that public awareness and information levels are crucial in better assessing the issues that arise due to water quality, and help better implement EU legislation.

I endeavor to make it: effort increases valuation of subsequent monetary reward.

PubMed

Ma, Qingguo; Meng, Liang; Wang, Lei; Shen, Qiang

2014-03-15

Although it is commonly accepted that the amount of effort we put into accomplishing a task would exert an influence on subsequent reward processing and outcome evaluation, whether effort is incorporated as a cost or it would increase the valuation of concomitant reward is still under debate. In this study, EEGs were recorded while subjects performed calculation tasks that required different amount of effort, correct responses of which were followed by either no reward or fixed compensation. Results showed that high effort induced larger differentiated FRN responses to the reward and non-reward discrepancy across two experimental conditions. Furthermore, P300 manifested valence effect during reward feedback, with more positive amplitudes for reward than for non-reward only in the high effort condition. These results suggest that effort might increase subjective evaluation toward subsequent reward. Copyright © 2013 Elsevier B.V. All rights reserved.

A fast numerical method for the valuation of American lookback put options

NASA Astrophysics Data System (ADS)

Song, Haiming; Zhang, Qi; Zhang, Ran

2015-10-01

A fast and efficient numerical method is proposed and analyzed for the valuation of American lookback options. American lookback option pricing problem is essentially a two-dimensional unbounded nonlinear parabolic problem. We reformulate it into a two-dimensional parabolic linear complementary problem (LCP) on an unbounded domain. The numeraire transformation and domain truncation technique are employed to convert the two-dimensional unbounded LCP into a one-dimensional bounded one. Furthermore, the variational inequality (VI) form corresponding to the one-dimensional bounded LCP is obtained skillfully by some discussions. The resulting bounded VI is discretized by a finite element method. Meanwhile, the stability of the semi-discrete solution and the symmetric positive definiteness of the full-discrete matrix are established for the bounded VI. The discretized VI related to options is solved by a projection and contraction method. Numerical experiments are conducted to test the performance of the proposed method.

Measuring the Wealth of School Districts for the Apportionment of Aid to Public Schools in New York State: Full Valuation vs. Personal Income.

ERIC Educational Resources Information Center

New York State Div. of the Budget, Albany.

The purpose of this study was to assess the merit of using personal income in the determination of a school district's fiscal capacity for the apportionment of New York state aid. Both personal income and full valuation of real property suffer from technical weaknesses, but improvements in the data are possible if the state is willing to…

Contingent valuation of health and mood impacts of PM2.5 in Beijing, China.

PubMed

Yin, Hao; Pizzol, Massimo; Jacobsen, Jette Bredahl; Xu, Linyu

2018-07-15

Air pollution from PM 2 . 5 affects many cities worldwide, causing both health impacts and mood depression. One of the obstacles to implementing environmental regulations for PM 2 . 5 reduction is that there are limited studies of PM 2 . 5 welfare loss and few investigations of mood depression caused by PM 2 . 5 . This article describes a survey study conducted in Beijing, China to estimate the welfare loss due to PM 2 . 5 . In total, 1709 participants completed either a face-to-face or online survey. A contingent valuation method was applied to elicit people's willingness to pay to avoid PM 2 . 5 pollution and willingness to accept a compensation for such pollution. The payment/compensation was evaluated for two outcome variables: perceived health impacts and mood depression caused by PM 2 . 5 pollution. This is one of few papers that explicitly studies the effects of PM 2 . 5 on subjective well-being, and to the authors' knowledge, the first to estimate welfare loss from PM 2 . 5 using a random forest model. Compared to the standard Turnbull, probit, and two-part models, the random forest model gave the best fit to the data, suggesting that this may be a useful tool for future studies too. The welfare loss due to health impacts and mood depression is CNY 1388.4/person/year and CNY 897.7/person/year respectively, indicating that the public attaches great importance to mood, feelings and happiness. The study provides scientific support to the development of economic policy instruments for PM 2 . 5 control in China. Copyright © 2018. Published by Elsevier B.V.

Re-visioning local biologies: HIV-2 and the pattern of differential valuation in biomedical research.

PubMed

Gilbert, Hannah

2013-01-01

The discovery of HIV-2, a distinctly West African variant of HIV, is often portrayed as the result of a straightforward, if serendipitous, error. This article reframes the history of how HIV-2 came to be a knowable scientific identity. Relying on narratives from an African laboratory and clinic, it suggests that the rise and fall of HIV-2 as a viable research entity is indicative of a differential visibility and valuation of both human bodies and viruses. Understanding how HIV-2 emerged as a local biology reveals the complex set of relations that contemporary African scientists face in navigating local moral economies and the mercurial politics of the contemporary global health industry.

Defining the rift : U.S. economist examines the consequences of the differences in U.S. and Canadian stumpage valuations

Treesearch

Henry Spelter

2005-01-01

If America had Canada’s stumpage system, then there wouldn’t be much of a dispute. But the reality is there are two distinct models of timber valuation, and the core of America’s complaint vis-à-vis Canada is that, as a result, there is an asymmetry in the market where the two sides compete: on the one hand all producers have equal access under the same rules and...

17 CFR 270.5b-1 - Definition of “total assets.”

Code of Federal Regulations, 2010 CFR

2010-04-01

..., shall mean the gross assets of the company with respect to which the computation is made, taken as of the end of the fiscal quarter of the company last preceding the date of computation. This section shall not apply to any company which has adopted either of the alternative methods of valuation...

Net present value analysis to select public R&D programs and valuate expected private sector participation

DOE Office of Scientific and Technical Information (OSTI.GOV)

Hinman, N.D.; Yancey, M.A.

1997-12-31

One of the main functions of government is to invest taxpayers dollars in projects, programs, and properties that will result in social benefit. Public programs focused on the development of technology are examples of such opportunities. Selecting these programs requires the same investment analysis approaches that private companies and individuals use. Good use of investment analysis approaches to these programs will minimize our tax costs and maximize public benefit from tax dollars invested. This article describes the use of the net present value (NPV) analysis approach to select public R&D programs and valuate expected private sector participation in the programs.more » 5 refs.« less

Implicit individual discount rate in China: A contingent valuation study.

PubMed

Wang, Hua; He, Jie

2018-03-15

Two contingent valuation (CV) surveys were conducted in Kunming, China, to estimate households' willingness to pay (WTP) for the Panlong River rehabilitation project. The two surveys were conducted using the same procedures and questionnaires except for the payment schedule arrangements, which permitted a calculation of respondents' implicit discount rate. The surveys provided two estimates of WTP, one with a mean of 23 Yuan in monthly payment over 5 years and the other with a mean of 311 Yuan in a lump-sum payment that will cover all the expenses for a period of 5 years. The results produce an estimate of monthly discount rate of 7.6%-12.6% or annual discount rate of 141-315%. The estimates are higher than that reported from those studies conducted in the U.S., but are compatible with that of some other studies. This study also shows that both mean individual WTP and implicit individual discount rates are closely related to household demographic and economic characteristics and environment-related perceptions, as reported in the studies conducted in other countries. Copyright © 2017 Elsevier Ltd. All rights reserved.

Methods in Symbolic Computation and p-Adic Valuations of Polynomials

NASA Astrophysics Data System (ADS)

Guan, Xiao

Symbolic computation has widely appear in many mathematical fields such as combinatorics, number theory and stochastic processes. The techniques created in the area of experimental mathematics provide us efficient ways of symbolic computing and verification of complicated relations. Part I consists of three problems. The first one focuses on a unimodal sequence derived from a quartic integral. Many of its properties are explored with the help of hypergeometric representations and automatic proofs. The second problem tackles the generating function of the reciprocal of Catalan number. It springs from the closed form given by Mathematica. Furthermore, three methods in special functions are used to justify this result. The third issue addresses the closed form solutions for the moments of products of generalized elliptic integrals , which combines the experimental mathematics and classical analysis. Part II concentrates on the p-adic valuations of polynomials from the perspective of trees. For a given polynomial f( n) indexed in positive integers, the package developed in Mathematica will create certain tree structure following a couple of rules. The evolution of such trees are studied both rigorously and experimentally from the view of field extension, nonparametric statistics and random matrix.

Citizens' distrust of government and their protest responses in a contingent valuation study of urban heritage trees in Guangzhou, China.

PubMed

Chen, Wendy Y; Hua, Junyi

2015-05-15

Protest response is a common aspect of contingent valuation (CV) studies, which has attracted growing attention from scholars worldwide. Distrust of government, understood as one of the major reasons for protest response, has been prevalent across transitional China experiencing dramatic changes in its economy, society and natural environment. Citizen distrust of government would significantly hinder the efficiency and validity of the contingent valuation method (CVM) application focusing on the provision of public environmental and ecological goods in China, as a large proportion of protest responses might be induced. Hitherto little has been done to link residents' trust in government to their environmental behaviors in developing and transitional economies like China where CVM has been increasingly applied to generate meaningful and reliable information for integrating both ecological and socioeconomic perspectives into policy decisions. This study aims to investigate the discrepancies between protest responses induced by distrust of government and non-protest responses, using the contingent valuation of heritage trees in Guangzhou as a case. The combination of a set of debriefing questions and several attitudinal questions is employed in the questionnaire. Based on logit analysis and discriminant analysis, it has been found that protestors who distrust government and non-protestors share similar salient values associated with urban heritage trees in Guangzhou, especially their distinctive historical and cultural values, in comparison with ordinary urban trees. Residents with low familiarity with heritage trees (who rarely visit sites with heritage trees, know little about management and conservation techniques, and consider present management to be ineffective) are likely to act as protesters with the "distrust of government" belief. Only if more opportunities are provided for residents to obtain access to urban heritage tree sites, more information (about

Are children rational decision makers when they are asked to value their own health? A contingent valuation study conducted with children and their parents.

PubMed

Guerriero, Carla; Cairns, John; Bianchi, Fabrizio; Cori, Liliana

2018-02-01

Despite the importance of including children's preferences in the valuation of their own health benefits, no study has investigated the ability of children to understand willingness-to-pay (WTP) questions. Using a contingent valuation method, we elicit children's and parents' WTP to reduce children's risk of an asthma attack. Our results suggest that children are able to understand and value their own health risk reductions, and their ability to do so improves with age. Child age was found to be inversely related to parents' and children's WTP. The results also suggest that non-paternalistic altruism is predictive of children's WTP. For parents, care for their own health was found to be inversely related with their WTP for children's risk reductions. Comparison of parents' and children's WTP suggests that parents are willing to sacrifice for their child's health risk reduction an amount that is approximately twice that of their children. The analysis of matched pairs of parents and children suggest that there are within-household similarities as the child's WTP is positively related to parents' WTP. Copyright © 2017 John Wiley & Sons, Ltd.

Does responsibility affect the public's valuation of health care interventions? A relative valuation approach to health care safety.

PubMed

Singh, Jeshika; Lord, Joanne; Longworth, Louise; Orr, Shepley; McGarry, Teresa; Sheldon, Rob; Buxton, Martin

2012-01-01

Health services often spend more on safety interventions than seems cost-effective. This study investigates whether the public value safety-related health care improvements more highly than the same improvements in contexts where the health care system is not responsible. An online survey was conducted to elicit the relative importance placed on preventing harms caused by 1) health care (hospital-acquired infections, drug administration errors, injuries to health care staff), 2) individuals (personal lifestyle choices, sports-related injuries), and 3) nature (genetic disorders). Direct valuations were obtained from members of the public by using a person trade-off or "matching" method. Participants were asked to choose between two preventative interventions of equal cost and equal health benefit per person for the same number of people, but differing in causation. If participants indicated a preference, their strength of preference was measured by using person trade-off. Responses were obtained from 1030 people, reflecting the sociodemographic mix of the UK population. Participants valued interventions preventing hospital-acquired infections (1.31) more highly than genetic disorders (1.0), although drug errors were valued similarly to genetic disorders (1.07), and interventions to prevent injury to health care staff were given less weight than genetic disorders (0.71). Less weight was also given to interventions related to lifestyle (0.65) and sports injuries (0.41). Our results suggest that people do not attach a simple fixed premium to "safety-related" interventions but that preferences depend more subtly on context. The use of the results of such public preference surveys to directly inform policy would therefore be premature. Copyright © 2012 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.

Probabilistic choice models in health-state valuation research: background, theories, assumptions and applications.

PubMed

Arons, Alexander M M; Krabbe, Paul F M

2013-02-01

Interest is rising in measuring subjective health outcomes, such as treatment outcomes that are not directly quantifiable (functional disability, symptoms, complaints, side effects and health-related quality of life). Health economists in particular have applied probabilistic choice models in the area of health evaluation. They increasingly use discrete choice models based on random utility theory to derive values for healthcare goods or services. Recent attempts have been made to use discrete choice models as an alternative method to derive values for health states. In this article, various probabilistic choice models are described according to their underlying theory. A historical overview traces their development and applications in diverse fields. The discussion highlights some theoretical and technical aspects of the choice models and their similarity and dissimilarity. The objective of the article is to elucidate the position of each model and their applications for health-state valuation.

Measurement and valuation of quality of life in economic appraisal of cancer treatment.

PubMed

Uyl-de Groot, C A; Rutten, F F; Bonsel, G J

1994-01-01

In the economic evaluation (EE) of technologies in cancer treatment at least three endpoints are relevant: costs, survival and quality of life (QoL). This article is focused on QoL. EE requires the use of generic and valuation QoL instruments at a disease non-specific level, but the inclusion of cancer-specific instruments may be advisable, particularly for reasons of explanation if changes in dimensions are small or conflicting. Given the pros and cons of the available questionnaires, we advocate the use of the Nottingham Health Profile, the EuroQol and the Rotterdam Symptom Checklist. In our experience the QoL issue in EE linked with cancer trials is associated with practical problems like questionnaire composition, follow-up time, interviewing schedule, patients' compliance and doctors' acceptance. These problems are discussed and some practical guidelines for the design of QoL measurement in cancer trials are given.

What is a hospital bed day worth? A contingent valuation study of hospital Chief Executive Officers.

PubMed

Page, Katie; Barnett, Adrain G; Graves, Nicholas

2017-02-14

Decreasing hospital length of stay, and so freeing up hospital beds, represents an important cost saving which is often used in economic evaluations. The savings need to be accurately quantified in order to make optimal health care resource allocation decisions. Traditionally the accounting cost of a bed is used. We argue instead that the economic cost of a bed day is the better value for making resource decisions, and we describe our valuation method and estimations for costing this important resource. We performed a contingent valuation using 37 Australian Chief Executive Officers' (CEOs) willingness to pay (WTP) to release bed days in their hospitals, both generally and using specific cases. We provide a succinct thematic analysis from qualitative interviews post survey completion, which provide insight into the decision making process. On average CEOs are willing to pay a marginal rate of $216 for a ward bed day and $436 for an Intensive Care Unit (ICU) bed day, with estimates of uncertainty being greater for ICU beds. These estimates are significantly lower (four times for ward beds and seven times for ICU beds) than the traditional accounting costs often used. Key themes to emerge from the interviews include the importance of national funding and targets, and their associated incentive structures, as well as the aversion to discuss bed days as an economic resource. This study highlights the importance for valuing bed days as an economic resource to inform cost effectiveness models and thus improve hospital decision making and resource allocation. Significantly under or over valuing the resource is very likely to result in sub-optimal decision making. We discuss the importance of recognising the opportunity costs of this resource and highlight areas for future research.

Is council tax valuation band a predictor of mortality?

PubMed Central

Beale, Norman R; Taylor, Gordon J; Straker-Cook, Dawn MK

2002-01-01

Background All current UK indices of socio-economic status have inherent problems, especially those used to govern resource allocation to the health sphere. The search for improved markers continues: this study proposes and tests the possibility that Council Tax Valuation Band (CTVB) might match requirements. Presentation of the hypothesis To determine if there is an association between CTVB of final residence and mortality risk using the death registers of a UK general practice. Testing the hypothesis Standardised death rates and odds ratios (ORs) for groups defined by CTVB of dwelling (A – H) were calculated using one in four denominator samples from the practice lists. Analyses were repeated three times – between number of deaths and CTVB of residence of deceased 1992 – 1994 inclusive, 1995 – 1997 inc., 1998 – 2000 inc. In 856 deaths there were consistent and significant differences in death rates between CTVBs: above average for bands A and B residents; below average for other band residents. There were significantly higher ORs for A, B residents who were female and who died prematurely (before average group life expectancy). Implications of the hypothesis CTVB of final residence appears to be a proxy marker of mortality risk and could be a valuable indicator of health needs resource at household level. It is worthy of further exploration. PMID:12207828

RESEARCH: An Ecoregional Approach to the Economic Valuation of Land- and Water-Based Recreation in the United States

PubMed

Bhat; Bergstrom; Teasley; Bowker; Cordell

1998-01-01

/ This paper describes a framework for estimating the economic value of outdoor recreation across different ecoregions. Ten ecoregions in the continental United States were defined based on similarly functioning ecosystem characters. The individual travel cost method was employed to estimate recreation demand functions for activities such as motor boating and waterskiing, developed and primitive camping, coldwater fishing, sightseeing and pleasure driving, and big game hunting for each ecoregion. While our ecoregional approach differs conceptually from previous work, our results appear consistent with the previous travel cost method valuation studies.KEY WORDS: Recreation; Ecoregion; Travel cost method; Truncated Poisson model

Willingness to pay for improved public health care services in Saudi Arabia: a contingent valuation study among heads of Saudi households.

PubMed

Al-Hanawi, Mohammed K; Alsharqi, Omar; Vaidya, Kirit

2018-06-04

The bulk of health care service provision in Saudi Arabia is undertaken by the public health care sector through the Ministry of Health, which is funded annually by the total government budget, which, in turn, is derived primarily from oil revenue. Public health care services in Saudi Arabia are characterised by an overload, overuse, and shortage of medical personnel, which can result in dissatisfaction with the quality of the current public health care services. This study uses a contingent valuation method to investigate the willingness of Saudi people to pay for improvements to the quality of public health care services. This study also determines the association between the willingness to pay for quality improvements and respondents' demographic and socioeconomic characteristics. A pre-tested interviewer-administered questionnaire was used to collect data from 1187 heads of household in Jeddah Province over a five-month period. Multi-stage sampling was employed to recruit participants. Partial Tobit regression and corresponding marginal effects analyses were used to analyse the data. These empirical analyses show that the majority of the sample was willing to pay for quality improvements in the public health care services. The results of this study might be of use to policymakers to help with both priority setting and fund allocation.

Increase Economic Valuation of Marine Ecotourism Spots In Small Islands

NASA Astrophysics Data System (ADS)

Rahakbauw, Siska D.; Teniwut, Wellem A.; Renjaan, Meiskyana R.; Hungan, Marselus

2017-10-01

Ecotourism is one of the fast-growing sectors especially in the developing country as a source of revenue. To get a sustainable development of ecotourism, it needs broad and comprehensive effort from central government and local government, perfect example in that regards in Indonesia is Bali and Lombok. For another area in Indonesia like Kei Islands which located in two administrative governments have a major problem to build a sustainable nature-based tourism because of the location of this area to the major cities in the country makes the travel cost is high. This situation makes the role of local community as the backbone of the growth and development of nature-based tourism is critical. By using structural equation modeling (SEM), we constructed a model to enhance local community perception on economic valuation of ecotourism spots in the area. Results showed that perceived quality as the mediation driven by the intensity of appearance on national television and the internet could increase community attachment to increase willingness to pay from the local community on ecotourism in Kei islands. Also, the result also indicated that WTP value for the local community on ecotourism in Kei Islands was 10.81 per trip, with average trip per month was 1 to 4 times.