Title: Valuation of ICT innovation: estimating customer willingness to pay for legal digital archiving
Authors: Alex Durand; Clémentine Fry
Addresses: CRP Henri Tudor, 29, Avenue J.F. Kennedy, L-1855 Luxembourg, Luxembourg ' CRP Henri Tudor, 29, avenue J.F. Kennedy, L-1855 Luxembourg
Abstract: Development of Luxembourgish regulation for legal digital archiving provides opportunities to banks to collaborate with professional of financial sector (PFS) to offer full documents dematerialisation service to their customers. This paper attempts to analyse the diffusion process of legal digital archiving service and utilises the contingent valuation method to determine an ideal base profile for the resident workforce in Luxembourg according to their estimated willingness to pay (WTP). The survey was conducted using a representative sample of 735 respondents and it shows that the average willingness to pay for the benefits of such a service varies in six price bands ranging from 3.3 to 7.7 euros per month per person, depending on the consumption profile that characterises the respondent. The average WTP for the entire population is 6.6 euros per month per person.
Keywords: marketing innovation; legal digital archiving; service valuation; willingness to pay; WTP; Luxembourg; ICT innovation; information and communications technology; information technology.
International Journal of Business Innovation and Research, 2014 Vol.8 No.5, pp.552 - 565
Received: 08 May 2021
Accepted: 12 May 2021
Published online: 16 Aug 2014 *