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Willingness-to-pay to prevent Alzheimer’s disease: a contingent valuation approach

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  • Rashmita Basu

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    Abstract

    As the prevalence of Alzheimer’s disease (AD) increases, the need to develop effective and well-tolerated pharmacotherapies for the prevention of AD is becoming increasingly important. Understanding determinants and magnitudes of individuals’ preferences for AD prevention programs is important while estimating the benefits of any new pharmacological intervention that targets the prevention of the disease. This paper applied contingent valuation, a method frequently used for economic valuation of goods or services not transacted in the markets, to estimate the willingness-to-pay (WTP) to prevent AD based on the nationally representative Health and Retirement Survey data. The WTP was associated in predictable ways with respondent characteristics. The mean estimated WTP for preventing AD is $155 per month (95 % CI $153–$157) based on interval regression. On average, a higher WTP for the prescription drug for AD prevention was reported by respondents with higher perceived risks, and greater household wealth. The findings provide useful information about determinants and the magnitude of individuals’ preferences for AD prevention drugs for healthcare payers and individual families while making decisions to prevent AD. Copyright Springer Science+Business Media New York 2013

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    File URL: http://hdl.handle.net/10.1007/s10754-013-9129-2
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    Bibliographic Info

    Article provided by Springer in its journal International Journal of Health Care Finance and Economics.

    Volume (Year): 13 (2013)
    Issue (Month): 3 (December)
    Pages: 233-245

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    Handle: RePEc:kap:ijhcfe:v:13:y:2013:i:3:p:233-245

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    Web page: http://www.springerlink.com/link.asp?id=106603

    Related research

    Keywords: Alzheimer’s disease; Perceived risk; Willingness-to-pay; Contingent valuation method; Interval regression; I18; I19;

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    1. Cameron, Trudy Ann & Huppert, Daniel D., 1989. "OLS versus ML estimation of non-market resource values with payment card interval data," Journal of Environmental Economics and Management, Elsevier, vol. 17(3), pages 230-246, November.
    2. Viscusi, W Kip, 1990. "Do Smokers Underestimate Risks?," Journal of Political Economy, University of Chicago Press, vol. 98(6), pages 1253-69, December.
    3. Smith, V. Kerry & Taylor, Donald H., Jr. & Sloan, Frank A., 2000. "Longevity Expectations and Death: Can People Predict Their Own Demise?," Working Papers 00-15, Duke University, Department of Economics.
    4. Klose, Thomas, 1999. "The contingent valuation method in health care," Health Policy, Elsevier, vol. 47(2), pages 97-123, May.
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    7. Cameron, Trudy Ann, 1988. "A new paradigm for valuing non-market goods using referendum data: Maximum likelihood estimation by censored logistic regression," Journal of Environmental Economics and Management, Elsevier, vol. 15(3), pages 355-379, September.
    8. Wagner, Todd H. & Hu, Teh-wei & Duenas, Grace V. & Kaplan, Celia P. & Nguyen, Bang H. & Pasick, Rena J., 2001. "Does willingness to pay vary by race/ethnicity? An analysis using mammography among low-income women," Health Policy, Elsevier, vol. 58(3), pages 275-288, December.
    9. Michael Milligan & Alok Bohara & José Pagán, 2010. "Assessing willingness to pay for cancer prevention," International Journal of Health Care Finance and Economics, Springer, vol. 10(4), pages 301-314, December.
    10. Jorge E. Ara�a & Carmelo J. León, 2002. "Willingness to pay for health risk reduction in the context of altruism," Health Economics, John Wiley & Sons, Ltd., vol. 11(7), pages 623-635.
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