TY - JOUR
T1 - Millennials’ willingness to pay for green restaurants
AU - Nicolau, Juan Luis
AU - Guix, Mireia
AU - Hernandez-Maskivker, Gilda
AU - Molenkamp, Noemí
N1 - Publisher Copyright:
© 2020 Elsevier Ltd
PY - 2020/9
Y1 - 2020/9
N2 - The hospitality industry is currently witnessing an increase in the number of restaurant companies with sustainable business models. This research explores the determinant factors of millennials’ willingness to pay (WTP) by looking at the qualitative decision of whether to pay more and the quantitative decision of how much extra to pay. While literature has investigated the factors that lead people to choose green restaurants, no analysis that simultaneously considers the qualitative and quantitative decisions has been conducted for the millennial generation. This study fills this gap by estimating the Heckit model, which (1) allows us to simultaneously model both decisions and detect their determinants—“green consumerism,” “health consciousness,” “income,” and two psychographics (“green restaurant preference” and “predisposition to make an effort in terms of time and distance”)—and (2) permits the control of sample selections bias, which turns out to be a critical issue in this research.
AB - The hospitality industry is currently witnessing an increase in the number of restaurant companies with sustainable business models. This research explores the determinant factors of millennials’ willingness to pay (WTP) by looking at the qualitative decision of whether to pay more and the quantitative decision of how much extra to pay. While literature has investigated the factors that lead people to choose green restaurants, no analysis that simultaneously considers the qualitative and quantitative decisions has been conducted for the millennial generation. This study fills this gap by estimating the Heckit model, which (1) allows us to simultaneously model both decisions and detect their determinants—“green consumerism,” “health consciousness,” “income,” and two psychographics (“green restaurant preference” and “predisposition to make an effort in terms of time and distance”)—and (2) permits the control of sample selections bias, which turns out to be a critical issue in this research.
KW - Green consumerism
KW - Green restaurants
KW - Health consciousness
KW - Heckit model
KW - Social media
KW - Willingness to pay
UR - http://www.scopus.com/inward/record.url?scp=85087377971&partnerID=8YFLogxK
UR - https://www.webofscience.com/api/gateway?GWVersion=2&SrcApp=pure_univeritat_ramon_llull&SrcAuth=WosAPI&KeyUT=WOS:000573058700012&DestLinkType=FullRecord&DestApp=WOS_CPL
U2 - 10.1016/j.ijhm.2020.102601
DO - 10.1016/j.ijhm.2020.102601
M3 - Article
AN - SCOPUS:85087377971
SN - 0278-4319
VL - 90
JO - International Journal of Hospitality Management
JF - International Journal of Hospitality Management
M1 - 102601
ER -