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To Be, or Not to Be, That Is the Question: An Empirical Study of the WTP for an Increased Life Expectancy at an Advanced Age

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  • Johannesson, Magnus
  • Johansson, Per-Olov

Abstract

This study reports an attempt to measure the value of an increased survival probability at advanced ages. It turns out that the average willingness to pay for a program which would increase the expected length of life by one year, conditional on having survived to the age of 75 years, is lower than $1,500. The willingness to pay increases with a person's age, but at a low and seemingly constant rate (1-4 percent per year). Copyright 1996 by Kluwer Academic Publishers

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Bibliographic Info

Article provided by Springer in its journal Journal of Risk and Uncertainty.

Volume (Year): 13 (1996)
Issue (Month): 2 (September)
Pages: 163-74

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Handle: RePEc:kap:jrisku:v:13:y:1996:i:2:p:163-74

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Web page: http://www.springerlink.com/link.asp?id=100299

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