In two independent and thematically connected chapters, I investigate consumers' willingness to pay a price premium in response to product development that entails prosocial attributes (PATs), those that allude to the reduction of negative externalities to benefit society, and to an innovative participatory pricing design called 'Pay-What-You-Want' (PWYW) pricing, a…
In two independent and thematically connected chapters, I investigate consumers' willingness to pay a price premium in response to product development that entails prosocial attributes (PATs), those that allude to the reduction of negative externalities to benefit society, and to an innovative participatory pricing design called 'Pay-What-You-Want' (PWYW) pricing, a mechanism that relinquishes the determination of payments in exchange for private goods to the consumers themselves partly relying on their prosocial preferences to drive positive payments. First, I propose a novel statistical approach built on the choice based contingent valuation technique to estimate incremental willingness to pay (IWTP) for PATs that accounts for consumer heterogeneity, dependence in the decision making processes, and incentive compatibility. I validate the approach by estimating IWTP for a variety of PATs and contrast the theoretical and managerial benefits of using the proposed approach over extant techniques used in the literature for this purpose. Second, I propose a general and flexible statistical modeling framework for estimating PWYW payments that exceed zero. It relies on the joint estimation of three types of consumer decision processes namely, the consumer propensity to default to an explicit price recommendation, the propensity to pay a least legitimate price, and the payment of a freely-chosen non-zero payment. Of particular interest is the model's ability to account for a wide variety of design constraints such as the setting of price bounds, explicit price recommendations, and the provision of a menu of discrete prices to choose from. I validate the approach by estimating PWYW payments for a variety of products such as music licenses, snacks, and sports tickets. I specifically examine and report the differential impact of three managerially controllable variables namely, 'payment anonymity', 'information on payment recipients' and 'information of product value/quality'.
The United States healthcare system does not perform as well as other countries including Germany and England, despite spending the most money on healthcare. It is well-established that there have been attempts at reform in the U.S. healthcare system multiple times in the past. This research paper describes the health…
The United States healthcare system does not perform as well as other countries including Germany and England, despite spending the most money on healthcare. It is well-established that there have been attempts at reform in the U.S. healthcare system multiple times in the past. This research paper describes the health care systems in the U.S., Germany, and England to analyze the strengths to create practical healthcare reform ideas for the U.S. This was done by describing each of the country's health care systems in detail, including the history of each country's health care system, the quality of care, the access to care, and the funding of the health care system. Based on this analysis of these health care systems, recommendations for health care reform are provided for the U.S. with revisions to the Affordable Care Act.
