Measuring the public's willingness to pay for intergenerational programme in Singapore : a contingent valuation approach
Amid the tide of silver tsunami and rising life expectancies in developed countries, the ability to provide for the elderly to age well is imperative. To foster stronger intergenerational ties and empower the elderly, Singapore is advocating Intergenerational Programmes (IPs) - programmes that encou...
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| Main Authors: | , , |
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| Other Authors: | |
| Format: | Final Year Project |
| Language: | English |
| Published: |
2018
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10356/73515 |
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| Institution: | Nanyang Technological University |
| Language: | English |
| Summary: | Amid the tide of silver tsunami and rising life expectancies in developed countries, the ability to provide for the elderly to age well is imperative. To foster stronger intergenerational ties and empower the elderly, Singapore is advocating Intergenerational Programmes (IPs) - programmes that encourage elderly and pre-schoolers to interact in activities together. This has led to an increase in the number of IPs conducted across eldercare and childcare centres. As the Singapore government intends to allocate more resources to IPs, it is timely to investigate the public’s valuation of IP, regarding their Willingness-To-Pay (WTP). This paper thus presents an analysis on individuals’ WTP for an IP in Singapore using a Contingent Valuation (CV) survey. Direct elicitation of the public's valuation of IP was carried out through face-to-face interviews, and the CV questionnaire utilised a Double-Bounded Dichotomous Choice (DBDC) model. The paper estimates that the average WTP for an IP is $176.64. Ordered Probit regression of the results also revealed that an individual’s age, education level and whether one has children are significant factors that affect one’s WTP. Additionally, respondents’ attitudes towards various intergenerational issues, which were elicited through attitudinal statements, were observed to alter one’s WTP. Given that this is a pioneering study on the evaluation of an individual’s WTP for IP in Singapore, this paper may catalyse more comprehensive research in the future and impact the way future IP-related policies may be formed in Singapore. |
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