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Willingness To Pay Thesis

willingness to pay thesis

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You may have noticed that, though the above paragraph aligns pretty closely with the provided outline, there is one large exception: These words are example of a transitional phrase — others include "furthermore," "moreover," but also "by contrast" and "on the other hand" — and are the hallmark of good writing. Transitional phrases are useful for showing the reader where one section ends and another begins. It may be helpful to see them as the written equivalent of the kinds of spoken cues used in formal speeches that signal the end of one set of ideas and the beginning of another.

In essence, they lead the reader from one section of the paragraph of another. Hopefully this example not only provides another example of an effective body paragraph but also illustrates how transitional phrases can be used to distinguish between them.

Although the conclusion paragraph comes at the end of your essay it should not be seen as an afterthought. As the final paragraph is represents your last chance to make your case and, as such, should follow an extremely rigid format. One way to think of the conclusion is, paradoxically, as a second introduction because it does in fact contain many of the same features. While it does not need to be too long — four well-crafted sentence should be enough — it can make or break and essay.

Effective conclusions open with a concluding transition "in conclusion," "in the end," etc. After that you should immediately provide a restatement of your thesis statement. This should be the fourth or fifth time you have repeated your thesis so while you should use a variety of word choice in the body paragraphs it is a acceptable idea to use some but not all of the original language you used in the introduction. This echoing effect not only reinforces your argument but also ties it nicely to the second key element of the conclusion: Having done all of that, the final element — and final sentence in your essay — should be a "global statement" or "call to action" that gives the reader signals that the discussion has come to an end.

The conclusion paragraph can be a difficult paragraph to write effectively but, as it is your last chance to convince or otherwise impress the reader, it is worth investing some time in. Take this opportunity to restate your thesis with confidence; if you present your argument as "obvious" then the reader might just do the same.

Although you can reuse the same key words in the conclusion as you did in the introduction, try not to copy whole phrases word for word. Instead, try to use this last paragraph to really show your skills as a writer by being as artful in your rephrasing as possible. Although it may seem like a waste of time — especially during exams where time is tight — it is almost always better to brainstorm a bit before beginning your essay.

This should enable you to find the best supporting ideas — rather than simply the first ones that come to mind — and position them in your essay accordingly. Your best supporting idea — the one that most strongly makes your case and, simultaneously, about which you have the most knowledge — should go first. Even the best-written essays can fail because of ineffectively placed arguments. Sentences and vocabulary of varying complexity are one of the hallmarks of effective writing.

When you are writing, try to avoid using the same words and phrases over and over again. If you are asked about "money," you could try "wealth" or "riches. In the end, though, remember that good writing does not happen by accident. Similarly, the number of certified producer organizations and individual farmers who benefit from Fair Trade sales increased enormously in the last decade. Not surprisingly, Fair Trade products are somewhat more expensive than similar conventional products Bauer et al.

For example, I pay about 0,70 Euro more for my favorite Fair Trade chocolate at the supermarket, as compared with other chocolates I use to buy. Sutcliffe, , enhanced costs for trading companies e.

The growing popularity of Fair Trade products noted above suggests that people are generally willing to pay this premium for Fair Trade products. How much extra are people willing to pay?

The present thesis seeks to review the prior research and answer this question. In addition, factors that underlie the willingness to pay for Fair Trade products are studied.

The thesis provides an overview of the published research on this topic and analyzes the recent empirical results. Specifically, the work focuses on 1 the prevalence to pay a premium i. Based on the findings, implications for marketing are drawn. Fair Trade products are closely related to ethical consumption, as they represent classical ethical products Langen, Fair Trade hereafter also FT has been defined as a trading partnership that seeks greater equity in international trade and sustainable development by offering better trading conditions to, and securing the rights of, marginalized producers and workers — especially in the South EFTA, Hence, FT represents a market-driven commercial model, rather than charity or aid mechanisms.

It addresses three interlinked objectives cf. The first is to alleviate extreme poverty through creating market access for the most disadvantaged producers in developing countries. The second objective includes empowering workers and farmers to use trade relationships and develop their own businesses in order to enhance their social capital. Last, Fair Trade aims to support the wider campaign for global trade reform and trade justice.

The FT model thus operates in stark contrast to the conventional trade relationships i. Fair Trade is specifically defined by a series of social and environmental criteria all of which have to be guaranteed to allow labeling a product cf.

Prices that covers the cost of production, provision for family members, and farm improvements are calculated and guaranteed. Hence, these prices are above the cost of production and allow producers to invest in their business, which promotes sustainability. To receive this extra premium, farmers and workers must form an association that decides democratically how to use the money.

FT seeks to minimize the influence of brokers, consolidators and other agents in global supply chain. Compared to other trade, the goods passes through remarkably few hands on its way from suppliers to consumers. This also applies to the money on its way from consumers to a poor farmer. FT creates long-term relationships between purchasers and producers, which allows producers to plan ahead and invest in the future e.

FT fosters purchaser-producer relationships based on mutual respect. This enables farmers to pre-finance production without the necessity to raise a loan with high rates. Full information about market movement and about how the market price of a good is determined in the different transactions.

Resource management plans are required. Moreover, certain pesticides are prohibited and farmers are fostered to invest in organic certification. No labor abuses may occur during the production process. This also includes the prohibition of child and slave labor abuse. Hence, Fair Trade may be broadly characterized as the market-based approach to help producers in improving their living condition by building a fair trade conditions. FT guarantees prices above the cost of production, promotes sustainability, enables investments and business development through the long-term trading relationship, improves working conditions, and fosters social responsibility.

According to Nicholls and Opal , the growth of Fair Trade can be seen as developing in four waves. Charities in Western Europe e. Similarly, in the Unites States, Ten Thousand Villages formerly Self Help Crafts started buying needlework from Puerto Rico in order to accelerate their economic growth and decrease poverty.

In the second wave , market-oriented alternative trading organizations ATOs arose with the aim to stimulate beneficial trade models for producers in developing countries, for example by offering trade conditions without the control of middlemen who would inevitably squeeze prices at the beginning of the supply chain cf.

However, the sales volume of FT products was rather small as they were sold mostly in catalogues and world shops during this period.

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CONSUMERS’ WILLINGNESS TO PAY USING AN EXPERIMENTAL AUCTION METHODOLOGY: APPLICATIONS TO BRAND EQUITY. By. YAN-MING LI. A thesis submitted in partial fulfillment of.

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