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The value of normal body weight: evidence from Iceland

Author

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  • Tinna Laufey Ásgeirsdóttir
  • Arnar Buason
  • Brynja Jonbjarnardottir
  • Thorhildur Ólafsdóttir

Abstract

Calculations of societal costs of underweight, overweight and obesity have generally failed to include the value of the utility reductions, associated with deviations from normal weight. To remedy this, the monetary compensation needed to offset the welfare loss associated with being underweight, overweight, or obese, according to World Health Organizations standards, is estimated. For this purpose, the compensating income variation (CIV) method is applied to individual-level data from an Icelandic health and lifestyle survey carried out in 2007, 2009, 2012, and 2017. The results show that both males and females would on average be willing to pay a positive amount to move from obesity to normal weight, albeit a varying amount by income group. The CIV for moving from obesity to normal weight among males for the low-, medium-, and high-income groups are $18,022, $25,768, and $632,002 per year. In comparison the same results for females are $9,191, $16,239, and $95,494. However, only females show a positive willingness to pay for not being overweight. The CIV for overweight females for the three income groups is $3,608, $6,375, and $37,488 per year.

Suggested Citation

  • Tinna Laufey Ásgeirsdóttir & Arnar Buason & Brynja Jonbjarnardottir & Thorhildur Ólafsdóttir, 2021. "The value of normal body weight: evidence from Iceland," Applied Economics, Taylor & Francis Journals, vol. 53(20), pages 2292-2304, April.
    • Handle: RePEc:taf:applec:v:53:y:2021:i:20:p:2292-2304
    DOI: 10.1080/00036846.2020.1859450
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    Cited by:

    1. Tinna Laufey Ásgeirsdóttir & Arnar Buason & Ásthildur Margrét Jóhannsdóttir, 2023. "Valuing the Wellbeing Associated with Psychosocial Factors at Work," Applied Research in Quality of Life, Springer;International Society for Quality-of-Life Studies, vol. 18(4), pages 1737-1759, August.
    2. Patel, Pankaj C. & Tsionas, Mike G. & Oghazi, Pejvak, 2023. "Compensating income variation in health and subjective well-being for the self-employed," Journal of Business Research, Elsevier, vol. 160(C).

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