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Valuation of the risk of SARS in Taiwan

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Author Info
Jin-Tan Liu (Department of Economics, National Taiwan University, Taiwan, and NBER)
James K. Hammitt (School of Public Health, Harvard University, Boston, Massachusetts, USA)
Jung-Der Wang (School of Public Health, National Taiwan University, Taiwan)
Meng-Wen Tsou (Department of International Trade, Tamkang University, Taiwan)
Abstract

Two surveys conducted in Taiwan during the spring 2003 severe acute respiratory syndrome (SARS) epidemic reveal a high degree of concern about the threat posed by SARS to Taiwan and its residents, although respondents believe they are knowledgeable about the risk of SARS and that it is susceptible to individual control. Willingness to pay (WTP) to reduce the risk of infection and death from SARS is elicited using contingent valuation methods. Estimated WTP is high, implying values per statistical life of US$3 to 12 million. While consistent with estimates for high-income countries, these values are substantially larger than previous estimates for Taiwan and may be attributable to the high degree of concern about SARS at the time the data were collected. Copyright © 2004 John Wiley & Sons, Ltd.

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File URL: http://hdl.handle.net/10.1002/hec.911
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Article provided by John Wiley & Sons, Ltd. in its journal Health Economics.

Volume (Year): 14 (2005)
Issue (Month): 1 ()
Pages: 83-91
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:wly:hlthec:v:14:y:2005:i:1:p:83-91

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. James Hammitt & Jin-Tan Liu, 2004. "Effects of Disease Type and Latency on the Value of Mortality Risk," Journal of Risk and Uncertainty, Springer, vol. 28(1), pages 73-95, January. [Downloadable!] (restricted)
  2. Tsu-Tan Fu & Jin-Tan Liu & James K. Hammitt, 1999. "Consumer Willingness to Pay for Low-Pesticide Fresh Produce in Taiwan," Journal of Agricultural Economics, Blackwell Publishing, vol. 50(2), pages 220-233. [Downloadable!] (restricted)
  3. Thomas C. Brown & Patricia A. Champ & Richard C. Bishop & Daniel W. McCollum, 1996. "Which Response Format Reveals the Truth about Donations to a Public Good?," Land Economics, University of Wisconsin Press, vol. 72(2), pages 152-166. [Downloadable!] (restricted)
  4. Ryan, Mandy & Scott, David A. & Donaldson, Cam, 2004. "Valuing health care using willingness to pay: a comparison of the payment card and dichotomous choice methods," Journal of Health Economics, Elsevier, vol. 23(2), pages 237-258, March. [Downloadable!] (restricted)
  5. W. Kip Viscusi & Joseph E. Aldy, 2003. "The Value of a Statistical Life: A Critical Review of Market Estimates throughout the World," NBER Working Papers 9487, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  6. Whynes, David K. & Frew, Emma & Wolstenholme, Jane L., 2003. "A comparison of two methods for eliciting contingent valuations of colorectal cancer screening," Journal of Health Economics, Elsevier, vol. 22(4), pages 555-574, July. [Downloadable!] (restricted)
  7. Alberini Anna, 1995. "Efficiency vs Bias of Willingness-to-Pay Estimates: Bivariate and Interval-Data Models," Journal of Environmental Economics and Management, Elsevier, vol. 29(2), pages 169-180, September. [Downloadable!] (restricted)
  8. Jin-Tan Liu & James K. Hammitt & Jung-Der Wang & Jin-Long Liu, 2000. "Mother's willingness to pay for her own and her child's health: a contingent valuation study in Taiwan," Health Economics, John Wiley & Sons, Ltd., vol. 9(4), pages 319-326.
  9. Corso, Phaedra S & Hammitt, James K & Graham, John D, 2001. " Valuing Mortality-Risk Reduction: Using Visual Aids to Improve the Validity of Contingent Valuation," Journal of Risk and Uncertainty, Springer, vol. 23(2), pages 165-84, September. [Downloadable!] (restricted)
  10. Hammitt, James K. & Liu, Jin-Tan & Liu, Jin-Long, 2001. "Contingent valuation of a Taiwanese wetland," Environment and Development Economics, Cambridge University Press, vol. 6(02), pages 259-268, May. [Downloadable!]
  11. Hammitt, James K & Graham, John D, 1999. "Willingness to Pay for Health Protection: Inadequate Sensitivity to Probability?," Journal of Risk and Uncertainty, Springer, vol. 18(1), pages 33-62, April. [Downloadable!] (restricted)
  12. Liu, Jin-Tan & Hammitt, James K. & Liu, Jin-Long, 1997. "Estimated hedonic wage function and value of life in a developing country," Economics Letters, Elsevier, vol. 57(3), pages 353-358, December. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Andrea M. Leiter & Gerald J. Pruckner, 2005. "Dying in an Avalanche: Current risks and Valuation," Game Theory and Information 0511009, EconWPA. [Downloadable!]
  2. Minhaj Mahmud, 2006. "Contingent Valuation of Mortality Risk Reduction in Developing Countries: A Mission Impossible?," Keele Economics Research Papers KERP 2006/01, Centre for Economic Research, Keele University. [Downloadable!]
    Other versions:
  3. Xiaoqi Guo & James Hammitt, 2009. "Compensating Wage Differentials with Unemployment: Evidence from China," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 42(2), pages 187-209, February. [Downloadable!] (restricted)
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