Estimating the Demand for Business Training
Evidence from Jamaica
Bibliographic Data
| ID | 4360899 |
|---|---|
| Authors | Alessandro Maffioli (0000-0003-1576-1817, Islamic Development Bank), David Mckenzie (0000-0002-1885-2426), David R McKenzie (0000-0002-2476-1301), Diego Ubfal (0000-0003-0807-7945) |
| Year | 2023 |
| Volume | 72 |
| Issue | 1 |
| Pages | 123-158 |
| Publication date | 2023-10-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Economic Development and Cultural Change (JOURNAL) |
| Journal identifiers | ISSN: 0013-0079 • E-ISSN: 1539-2988 |
| Publisher | University of Chicago Press (PUBLISHER • US) |
| DOI | 10.1086/719031 |
| OpenAlex | W4221092891 |
| Language | EN |
| Citations received | 2 |
| References cited | 15 |
Business-training programs are typically offered for free. Charging a price for training provides potential benefits such as financial sustainability, but little is known about how price affects demand. We conducted two experiments in Jamaica using the Becker-DeGroot-Marschak (BDM) mechanism and take-it-or-leave-it offers to estimate the demand for training. Most entrepreneurs have positive willingness to pay for training, but demand falls sharply as price increases. Offering the chance to pay in installments does not increase demand. Higher prices screen out poorer, less educated entrepreneurs who have smaller firms. However, charging a higher price does increase attendance among those who pay. Finally, our paper points to the limitations of using a BDM mechanism in a context of low contract enforcement and when payments for purchasing an intangible service do not occur immediately
Attendance · Business · Context (archaeology) · Demand curve · Derived demand · Economic growth · Economics · Enforcement · Labour economics · Microeconomics · Operations management · Payment · Purchasing · Service (business) · Sustainability · Training (meteorology) · Willingness to pay · Economic Zones and Regional Development · Finance · Islamic Finance and Banking Studies · Marketing · Migration and Labor Dynamics
Teaching personal initiative beats traditional training in boosting small business in West Africa
Measuring utility by a single-response sequential method
The Psychology of Entrepreneurship
The impact of soft-skills training for entrepreneurs in Jamaica
A new data set of educational attainment in the world, 1950–2010
Do non-monetary prices target the poor? Evidence from a field experiment in India
Testing willingness to pay elicitation mechanisms in the field
Eliciting and Utilizing Willingness to Pay
Information and Consumer Behavior
| Unique citing works | 2 |
|---|---|
| Citations per year | 0,5 |
| Citation span | 2022 - 2024 (3) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 1 |