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Valuation of Health Inputs and Convenience in New Products

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Abstract

The prevalence of illnesses related to the modern diet and a more sedentary lifestyle has increased markedly over the last few decades. There is therefore a need for effective strategies to promote health and to reduce the prevalence of diet-related diseases. In this paper, we study the willingness to pay for a new concept, healthy canteen takeaways. In the analysis, we depart from a household production model. To control for the endogeneity of the health state, we use a control function approach. The result suggests that health inputs, such as low-fat meat and a larger amount of vegetables, increase respondents’ utility. Respondents’ valuations of the convenience attribute are very heterogenous, with both positive and negative values. From a policy perspective, the IV estimation turns out to be of importance, with a sign change in the valuation of low-fat meals for individuals with a poor health state (high MBI).

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  • Nordström, Jonas, 2013. "Valuation of Health Inputs and Convenience in New Products," Working Papers 2013:7, Lund University, Department of Economics.
    • Handle: RePEc:hhs:lunewp:2013_007
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    File URL: http://project.nek.lu.se/publications/workpap/papers/WP13_7.pdf
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    More about this item

    Keywords

    endogen; discrete choice; health; household production; instrumental variable;
    All these keywords.

    JEL classification:

    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • D13 - Microeconomics - - Household Behavior - - - Household Production and Intrahouse Allocation
    • I10 - Health, Education, and Welfare - - Health - - - General

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