Willingness-to-pay to prevent Alzheimer’s disease: a contingent valuation approach
As the prevalence of Alzheimer’s disease (AD) increases, the need to develop effective and well-tolerated pharmacotherapies for the prevention of AD is becoming increasingly important. Understanding determinants and magnitudes of individuals’ preferences for AD prevention programs is important while estimating the benefits of any new pharmacological intervention that targets the prevention of the disease. This paper applied contingent valuation, a method frequently used for economic valuation of goods or services not transacted in the markets, to estimate the willingness-to-pay (WTP) to prevent AD based on the nationally representative Health and Retirement Survey data. The WTP was associated in predictable ways with respondent characteristics. The mean estimated WTP for preventing AD is $155 per month (95 % CI $153–$157) based on interval regression. On average, a higher WTP for the prescription drug for AD prevention was reported by respondents with higher perceived risks, and greater household wealth. The findings provide useful information about determinants and the magnitude of individuals’ preferences for AD prevention drugs for healthcare payers and individual families while making decisions to prevent AD. Copyright Springer Science+Business Media New York 2013
Volume (Year): 13 (2013)
Issue (Month): 3 (December)
|Contact details of provider:|| Web page: http://www.springerlink.com/link.asp?id=106603 |
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.:
- Cameron, Trudy Ann & Huppert, Daniel D., 1989. "OLS versus ML estimation of non-market resource values with payment card interval data," Journal of Environmental Economics and Management, Elsevier, vol. 17(3), pages 230-246, November.
- John Cawley, 2006.
"Contingent Valuation Analysis of Willingness to Pay To Reduce Childhood Obesity,"
NBER Working Papers
12510, National Bureau of Economic Research, Inc.
- Cawley, John, 2008. "Contingent valuation analysis of willingness to pay to reduce childhood obesity," Economics & Human Biology, Elsevier, vol. 6(2), pages 281-292, July.
- V. Kerry Smith & Donald H. Taylor & Frank A. Sloan, 2001.
"Longevity Expectations and Death: Can People Predict Their Own Demise?,"
American Economic Review,
American Economic Association, vol. 91(4), pages 1126-1134, September.
- Smith, V. Kerry & Taylor, Donald H., Jr. & Sloan, Frank A., 2000. "Longevity Expectations and Death: Can People Predict Their Own Demise?," Working Papers 00-15, Duke University, Department of Economics.
- Cameron, Trudy Ann, 1988. "A new paradigm for valuing non-market goods using referendum data: Maximum likelihood estimation by censored logistic regression," Journal of Environmental Economics and Management, Elsevier, vol. 15(3), pages 355-379, September.
- Michael Milligan & Alok Bohara & José Pagán, 2010. "Assessing willingness to pay for cancer prevention," International Journal of Health Care Finance and Economics, Springer, vol. 10(4), pages 301-314, December.
- Wagner, Todd H. & Hu, Teh-wei & Duenas, Grace V. & Kaplan, Celia P. & Nguyen, Bang H. & Pasick, Rena J., 2001. "Does willingness to pay vary by race/ethnicity? An analysis using mammography among low-income women," Health Policy, Elsevier, vol. 58(3), pages 275-288, December.
- Viscusi, W Kip, 1990. "Do Smokers Underestimate Risks?," Journal of Political Economy, University of Chicago Press, vol. 98(6), pages 1253-69, December.
- Watson, Verity & Ryan, Mandy, 2007. "Exploring preference anomalies in double bounded contingent valuation," Journal of Health Economics, Elsevier, vol. 26(3), pages 463-482, May.
- John C. Whitehead, 2002. "Incentive Incompatibility and Starting-Point Bias in Iterative Valuation Questions," Land Economics, University of Wisconsin Press, vol. 78(2), pages 285-297.
- Klose, Thomas, 1999. "The contingent valuation method in health care," Health Policy, Elsevier, vol. 47(2), pages 97-123, May.
- Jorge E. Ara�a & Carmelo J. León, 2002. "Willingness to pay for health risk reduction in the context of altruism," Health Economics, John Wiley & Sons, Ltd., vol. 11(7), pages 623-635.
When requesting a correction, please mention this item's handle: RePEc:kap:ijhcfe:v:13:y:2013:i:3:p:233-245. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn)or (Christopher F. Baum)
If references are entirely missing, you can add them using this form.