IDEAS home Printed from https://ideas.repec.org/a/sae/toueco/v29y2023i4p1100-1120.html
   My bibliography  Save this article

Willingness to pay for attributes of Templestay and implications on marginal utility of different meditation forms

Author

Listed:
  • Se-Hyuk Kim
  • James W Mjelde
  • Tae-Kyun Kim
  • Choong-Ki Lee
  • Byunggil Chun

Abstract

Templestays are a form of cultural tourism in which participants visit a Buddhist temple to experience their culture. Using a choice experiment, the marginal willingness to pay (MWTP) is estimated for various attributes of Templestay programs of location, accommodations, and type of meditation. Respondents are willing to pay a premium for private accommodations and to experience the natural mountain settings over an urban setting. The MWTP varies by type of meditation and by how often respondents have participated in a Templestay. For the most physically demanding form of meditation, 108 prostrations, there is weak evidence marginal utility decreases with increasing number of visits. Brewing tea and talking to a monk do not lead to a change in marginal utility. The most spiritually demanding meditation, Seon meditation, shows increasing marginal utility. Seon meditators could benefit from additional stays, as the benefits of this form of meditation can only be achieved through practice and learning from experienced meditators. It is expected that these results will provide information for the diversification of Templestay experience programs.

Suggested Citation

  • Se-Hyuk Kim & James W Mjelde & Tae-Kyun Kim & Choong-Ki Lee & Byunggil Chun, 2023. "Willingness to pay for attributes of Templestay and implications on marginal utility of different meditation forms," Tourism Economics, , vol. 29(4), pages 1100-1120, June.
    • Handle: RePEc:sae:toueco:v:29:y:2023:i:4:p:1100-1120
    DOI: 10.1177/13548166221095796
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/13548166221095796
    Download Restriction: no
    File URL: https://libkey.io/10.1177/13548166221095796?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Anouk Festjens & Chris Janiszewski, 2015. "The Value of Time," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 42(2), pages 178-195.
    2. Bagh Adib & Kusunose Yoko, 2020. "On the Economic Value of Signals," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 20(1), pages 1-19, January.
    3. Petar Filipic, 2010. "The Legitimacy Of Increasing Marginal Utility In Social Services – The Case Of University Examinations," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 55(186), pages 67-88, July – Se.
    4. Won Seok Lee & Joon-Kyu Lee & Joonho Moon, 2018. "Study on the preference for capsule hotel attributes using a choice experiment," Tourism Economics, , vol. 24(4), pages 492-499, June.
    5. Bagh Adib & Kusunose Yoko, 2020. "On the Economic Value of Signals," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 20(1), pages 1-19, January.
    6. Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74(2), pages 132-132.
    7. Johnson, F. Reed & Desvousges, William H., 1997. "Estimating Stated Preferences with Rated-Pair Data: Environmental, Health, and Employment Effects of Energy Programs," Journal of Environmental Economics and Management, Elsevier, vol. 34(1), pages 79-99, September.
    8. Ching-Fu Chen & Pei-Chun Chen, 2012. "Exploring Tourists' Stated Preferences for Heritage Tourism Services – the Case of Tainan City, Taiwan," Tourism Economics, , vol. 18(2), pages 457-464, April.
    9. Wam, Hilde Karine & Pedersen, Hans Chr. & Hjeljord, Olav, 2012. "Balancing hunting regulations and hunter satisfaction: An integrated biosocioeconomic model to aid in sustainable management," Ecological Economics, Elsevier, vol. 79(C), pages 89-96.
    10. Nick Hanley & Douglas MacMillan & Robert E. Wright & Craig Bullock & Ian Simpson & Dave Parsisson & Bob Crabtree, 1998. "Contingent Valuation Versus Choice Experiments: Estimating the Benefits of Environmentally Sensitive Areas in Scotland," Journal of Agricultural Economics, Wiley Blackwell, vol. 49(1), pages 1-15, March.
    11. Nick Hanley & Susana Mourato & Robert E. Wright, 2001. "Choice Modelling Approaches: A Superior Alternative for Environmental Valuatioin?," Journal of Economic Surveys, Wiley Blackwell, vol. 15(3), pages 435-462, July.
    12. Young H. Lee & Trenton G. Smith, 2008. "Why Are Americans Addicted To Baseball? An Empirical Analysis Of Fandom In Korea And The United States," Contemporary Economic Policy, Western Economic Association International, vol. 26(1), pages 32-48, January.
    13. Wright, William C.C. & Eppink, Florian V., 2016. "Drivers of heritage value: A meta-analysis of monetary valuation studies of cultural heritage," Ecological Economics, Elsevier, vol. 130(C), pages 277-284.
    14. Marco Alderighi & Eleonora Lorenzini, 2012. "Cultural goods, cultivation of taste, satisfaction and increasing marginal utility during vacations," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 36(1), pages 1-26, February.
    15. Becker, Gary S & Murphy, Kevin M, 1988. "A Theory of Rational Addiction," Journal of Political Economy, University of Chicago Press, vol. 96(4), pages 675-700, August.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Caroline Roussy & Aude Ridier & Karim Chaïb, 2014. "Adoption d’innovations par les agriculteurs : rôle des perceptions et des préférences," Post-Print hal-01123427, HAL.
    2. Bart Neuts & Peter Nijkamp & Eveline Van Leeuwen, 2012. "Crowding Externalities from Tourist Use of Urban Space," Tourism Economics, , vol. 18(3), pages 649-670, June.
    3. Alemu I, Jahson Berhane & Schuhmann, Peter & Agard, John, 2019. "Mixed preferences for lionfish encounters on reefs in Tobago: Results from a choice experiment," Ecological Economics, Elsevier, vol. 164(C), pages 1-1.
    4. Mandy Ryan & Angela Bate, 2001. "Testing the assumptions of rationality, continuity and symmetry when applying discrete choice experiments in health care," Applied Economics Letters, Taylor & Francis Journals, vol. 8(1), pages 59-63.
    5. Baselice, Antonio & Colantuoni, Francesca & Lass, Daniel A. & Nardone, Gianluca & Stasi, Antonio, 2014. "EU Consumers’ Perceptions of Fresh-cut Fruit and Vegetables Attributes: a Choice Experiment Model," 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota 170527, Agricultural and Applied Economics Association.
    6. Mandy Ryan & Verity Watson, 2009. "Comparing welfare estimates from payment card contingent valuation and discrete choice experiments," Health Economics, John Wiley & Sons, Ltd., vol. 18(4), pages 389-401, April.
    7. Catalina M. Torres Figuerola & Antoni Riera Font, 2009. "Defining environmental attributes as external costs in choice experiments: A discussion," CRE Working Papers (Documents de treball del CRE) 2009/1, Centre de Recerca Econòmica (UIB ·"Sa Nostra").
    8. Aude Ridier & Caroline Roussy & Karim Chaib, 2021. "Adoption of crop diversification by specialized grain farmers in south-western France: evidence from a choice-modelling experiment," Review of Agricultural, Food and Environmental Studies, Springer, vol. 102(3), pages 265-283, September.
    9. Pfarr, Christian & Schmid, Andreas, 2013. "The political economics of social health insurance: the tricky case of individuals’ preferences," MPRA Paper 44534, University Library of Munich, Germany.
    10. Kanchanaroek, Yingluk & Termansen, Mette & Quinn, Claire, 2013. "Property rights regimes in complex fishery management systems: A choice experiment application," Ecological Economics, Elsevier, vol. 93(C), pages 363-373.
    11. Domínguez-Torreiro, Marcos & Soliño, Mario, 2011. "Provided and perceived status quo in choice experiments: Implications for valuing the outputs of multifunctional rural areas," Ecological Economics, Elsevier, vol. 70(12), pages 2523-2531.
    12. Victor Ginsburgh, 2013. "Mark Blaug and the economics of the arts," Chapters, in: Marcel Boumans & Matthias Klaes (ed.), Mark Blaug: Rebel with Many Causes, chapter 15, pages 208-224, Edward Elgar Publishing.
    13. Anne Bretteville-Jensen, 2006. "Drug Demand – Initiation, Continuation and Quitting," De Economist, Springer, vol. 154(4), pages 491-516, December.
    14. Gómez-Limón, José A. & Granado-Díaz, Rubén, 2023. "Assessing the demand for hydrological drought insurance in irrigated agriculture," Agricultural Water Management, Elsevier, vol. 276(C).
    15. del Saz Salazar, Salvador & Hernandez Sancho, Francesc & Sala Garrido, Ramon, 2009. "Estimación del valor económico de la calidad del agua de un río mediante una doble aproximación: una aplicación de los principios económicos de la Directiva Marco del Agua," Economia Agraria y Recursos Naturales, Spanish Association of Agricultural Economists, vol. 9(01), pages 1-27.
    16. Rambonilaza, Mbolatiana, 2004. "Évaluation de la demande de paysage : état de l’art et réflexions sur la méthode du transfert des benefices," Cahiers d'Economie et de Sociologie Rurales (CESR), Institut National de la Recherche Agronomique (INRA), vol. 70.
    17. Veisten, Knut, 2007. "Contingent valuation controversies: Philosophic debates about economic theory," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 36(2), pages 204-232, April.
    18. Rodolfo Nayga, 2001. "Effect of Schooling on Obesity: Is Health Knowledge a Moderating Factor?," Education Economics, Taylor & Francis Journals, vol. 9(2), pages 129-137.
    19. Hasan-Basri, Bakti & Mohd Mustafa, Muzafarshah & Bakar, Normizan, 2019. "Are Malaysian Consumers Willing to Pay for Hybrid Cars’ Attributes?," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 53(1), pages 121-134.
    20. Landmann, D. & Feil, J.-H. & Lagerkvist, C.J. & Otter, V., 2018. "Designing capacity development activities of small-scale farmers in developing countries based on discrete choice experiments," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 277738, International Association of Agricultural Economists.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:toueco:v:29:y:2023:i:4:p:1100-1120. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.