Within the last decades an increasing number of people practice risky sports in their leisure time. Although there exists a vast number of economic literature on risk-taking behavior, an estimation of the individual willingness to pay (WTP) for the option to exercise risk-taking is missing. Monetarized values could support private industries in design pricing schemes that set incentives to redu...

We compare two approaches for estimating the distribution of consumers’ willingness to pay (WTP) in discrete choice models. The usual procedure is to estimate the distribution of the utility coefficients and then derive the distribution of WTP, which is the ratio of coefficients. The alternative is to estimate the distribution of WTP directly. We apply both approaches to data on site choice in ...

Copyright 2010 Northeastern Agricultural and Resource Economics Association It is especially important that researchers be cautious about presenting willingness to pay (WTP) point estimates to policy makers when the estimates are sensitive to subjective decisions that the researchers make during the estimation process. It is well known that WTP point estimates are sensitive to the choice regard...

Contingent valuation (CV) and conjoint analysis were used to estimate landowner’s willingness to pay (WTP) for ecosystem management on non-industrial private forest land. The results suggest that even when conjoint and CV questions are the same, except for rating and pricing format, respectively, WTP estimates are quite different. Since most conjoint models essentially count ‘maybe’ responses t...

The concept of fuzzy random variable has been applied in several papers to model the present value of life insurance liabilities. It allows the fuzzy uncertainty of the interest rate and the probabilistic behaviour of mortality to be used throughout the valuation process without any loss of information. Using this framework, and considering a triangular interest rate, this paper develops closed...

In our earlier work we have developed the axiomatic theory of the scalar cardinality of interval-valued fuzzy sets following Wygralak’s axiomatic theory of scalar cardinalities of fuzzy sets. The cardinality has been defined as a mapping from the set of interval-valued fuzzy sets with finite support to the set of closed subintervals of [0,+∞). We have shown that each scalar cardinality of inter...

In this contribution we present a Learner Model (LM) of Historical Text Comprehension (HTC), which infers the cognitive profile of learner’s global comprehension concerning the recognition or not of the three fundamental cognitive categories: action, state and event. Moreover the LM infers the profile descriptor, which displays the learner’s learning difficulties. The diagnostic module of the L...

This paper introduces a new logic approach to reason about the dynamic belief revision by extending wellknown Aucher’s dynamic belief revision approach to fuzzy environments. In our system, propositions take a valuation in linguistic truth term set, and a belief revision is also in a qualitative way. Moreover, we reveal some properties of our system in epistemic style and do a comparison betwee...