Willingness to pay for reductions in health risks under anticipated regret

2021 ◽  
pp. 102476
Author(s):  
Jiakun Zheng
Keyword(s):  
Willingness To Pay ◽  
Health Risks ◽  
Anticipated Regret

Determinants of Individuals' Willingness to Pay for Perceived Reductions in Environmental Health Risks: A Case Study of Bathing Water Quality

1998 ◽  
Vol 30 (4) ◽  
pp. 577-594 ◽  
Author(s):  
S Georgiou ◽  
I H Langford ◽  
I J Bateman ◽  
R K Turner
Keyword(s):  
Water Quality ◽  
Willingness To Pay ◽  
Health Risks ◽  
East Anglia ◽  
Environmental Health Risks ◽  
Bathing Water ◽  
Measures Of Risk ◽  
Bathing Water Quality

A contingent valuation (CV) study was undertaken to investigate individuals' stated willingness to pay (WTP) to reduce perceived risks of illness from the quality of bathing water at two beaches in East Anglia, United Kingdom. One beach, Great Yarmouth, failed to meet the EC (European Community) Bathing Water Quality Directive standard, whereas the other at Lowestoft passed. The analysis focuses on determinants of individuals' WTP, including measures of risk perception and attitudes to health not usually measured in CV studies. A conceptual model is then presented which sets the valuation of individual preferences in the context of personal worldviews, and external cultural, societal, and environmental factors which may influence, directly or indirectly, an individual's stated WTP.

scholarly journals The effect of risk perception on public preferences and willingness to pay for reductions in the health risks posed by toxic cyanobacterial blooms

2012 ◽  
Vol 426 ◽  
pp. 32-44 ◽  
Author(s):  
Peter D. Hunter ◽  
Nick Hanley ◽  
Mikołaj Czajkowski ◽  
Kathryn Mearns ◽  
Andrew N. Tyler ◽  
...  
Keyword(s):  
Risk Perception ◽  
Willingness To Pay ◽  
Health Risks ◽  
Cyanobacterial Blooms ◽  
Public Preferences

scholarly journals Defensive spending on tap water substitutes: the value of reducing perceived health risks

2011 ◽  
Vol 10 (1) ◽  
pp. 56-68 ◽  
Author(s):  
Diane P. Dupont ◽  
Nowshin Jahan
Keyword(s):  
Escherichia Coli ◽  
Willingness To Pay ◽  
Health Risks ◽  
National Survey ◽  
Water Consumption ◽  
Tap Water ◽  
Perceived Health ◽  
Consumer Spending

We examine factors that explain consumer spending on tap water substitutes using information from a national survey undertaken with a representative set of Canadian respondents. We develop a model to predict the percentage of households that undertake such spending for the purpose of reducing perceived health risks from tap water consumption. Using results from the model we estimate the magnitude of defensive expenditures to be over half a billion dollars (2010 US$) per year for Canada, as a whole. This is equivalent to approximately $48 per household per year or about $19 per person per year. Residents of Ontario, the province in which an Escherichia coli incident took place in 2000, have the highest willingness-to-pay of approximately $60 per household per year.

Economic Value of Reducing Exposure to Environmental Health Risks

2020 ◽  
Author(s):  
W. Kip Viscusi ◽  
Rachel Dalafave
Keyword(s):  
Willingness To Pay ◽  
Environmental Health ◽  
Risk Reduction ◽  
Health Risks ◽  
Stated Preference ◽  
Economic Value ◽  
Revealed Preference ◽  
Personal Characteristics ◽  
The United States ◽  
Environmental Health Risks

Valuing the benefit of reduced exposures to environmental health risks requires assessment of the willingness to pay for the risk reduction. Usual measures typically estimate individual local rates of substitution between money and the reduced probability of the adverse health impact. Benefit-cost analyses then aggregate individuals’ willingness to pay to calculate society’s willingness to pay for the health risk reduction benefit. The theoretical basis for this approach is well established and is similar for mortality risks and health outcomes involving morbidity effects. Researchers have used both stated preference methods and revealed preference data that draw on values implicit in economic decisions. Continuing controversies with respect to valuation of environmental health impacts include the treatment of behavioral anomalies, such as the gap between willingness-to-pay and willingness-to-accept values, and the degree to which heterogeneity in values because of personal characteristics such as income and age should influence benefit values. A considerable literature exists on the value of a statistical life (VSL), the local tradeoff between fatality risk and money, which is used to value mortality risk reductions. Many VSL estimates use data from the United States for regulatory analyses of environmental policies, but several other countries have distinct valuation practices. There are empirical estimates of the benefits associated with reducing the risks of many environmental health effects, including cancer, respiratory diseases, gastrointestinal illnesses, and other health consequences that have morbidity effects.

Willingness to pay for reductions in health risks when probabilities are distorted

2006 ◽  
Vol 15 (2) ◽  
pp. 211-214 ◽  
Author(s):  
Han Bleichrodt ◽  
Louis Eeckhoudt
Keyword(s):  
Willingness To Pay ◽  
Health Risks

scholarly journals Measuring Consumer Willingness to Pay to Reduce Health Risks of Contracting Dengue Fever

2020 ◽  
Vol 17 (5) ◽  
pp. 1810
Author(s):  
Cheng-Te Lin ◽  
Yu-Sheng Huang ◽  
Lu-Wen Liao ◽  
Chung-Te Ting
Keyword(s):  
Willingness To Pay ◽  
Dengue Fever ◽  
Health Risks ◽  
Psychological Health ◽  
Contingent Valuation Method ◽  
Economic Cost ◽  
Preventive Treatment ◽  
Risk Of Death ◽  
Valuation Method ◽  
And Behavior

Located in the subtropics, Taiwan is one of the major epidemic areas for dengue fever, with severe epidemics occurring in recent years. Dengue fever has become a serious health threat to Taiwan’s residents and a potentially serious economic cost to society. This study recruited 730 random participants and adopted the contingent valuation method to understand the factors influencing the populace’s willingness to pay (WTP) to reduce the health risk of dengue fever. The results show that high-income women with children and people with higher preventive perceptions and behavior are more willing to invest in preventive measures against dengue fever. In the evaluation of WTP for preventive treatment for health risks, each person was willing to pay on average NT$751 annually to lower psychological health risks, NT$793 annually to lower the risk of illness, and NT$1086 annually to lower the risk of death.

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