Contingent Valuation of Mortality Risk Reduction in Developing Countries: A Mission Impossible?
AbstractWe examine the effect of training the respondents regarding probabilities and risk reductions, in addition to using visual aids to communicate risk and risk reductions, in a contingent valuation survey of mortality risk reduction in Bangladesh. We elicit individuals’ risk perception and find that people on average overestimate the mortality risk at younger ages and underestimate it at older ages. Our results indicate a significantly higher WTP for the trained sub-sample, and WTP is sensitive to the magnitude of risk reduction both with and without the training.
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Bibliographic InfoPaper provided by Centre for Economic Research, Keele University in its series Keele Economics Research Papers with number KERP 2006/01.
Length: 23 pages
Date of creation: Jan 2006
Date of revision:
Note: An earlier version of this paper is available as Working Paper No 169, Department of Economics, Göteborg University, 2005.
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Postal: Centre for Economic Research, Research Institute for Public Policy and Management, Keele University, Staffordshire ST5 5BG - United Kingdom
Other versions of this item:
- Mahmud, Minhaj, 2005. "Contingent Valuation of Mortality Risk Reduction in Developing Countries: A Mission Impossible?," Working Papers in Economics 169, University of Gothenburg, Department of Economics.
- I1 - Health, Education, and Welfare - - Health
- D6 - Microeconomics - - Welfare Economics
- D8 - Microeconomics - - Information, Knowledge, and Uncertainty
- H4 - Public Economics - - Publicly Provided Goods
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-05-13 (All new papers)
- NEP-HEA-2006-05-13 (Health Economics)
- NEP-PBE-2006-05-13 (Public Economics)
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