Willingness to pay for health risk reduction in the context of altruism
This paper presents results on the valuation of health risks in the presence of altruism. The contingent valuation method is utilised in a split sample experiment for estimating the private and public values in reducing the risk of flu. Data modelling for the dichotomous choice method follows a Bayesian approach, which accounts for zero responses and is adequate for the comparison of small sample results. The results of the experiment suggest that altruism is a positive component in the value of reducing the probability of flu, which depends positively on the number of days involved, the health status and the personal income of the subject. The marginal value of risk is found to be a decreasing function of the reduction in the probability of becoming ill. Copyright © 2002 John Wiley & Sons, Ltd.
Volume (Year): 11 (2002)
Issue (Month): 7 ()
|Contact details of provider:|| Web page: http://www3.interscience.wiley.com/cgi-bin/jhome/5749|
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.:
- Becker, Gary S, 1974.
"A Theory of Social Interactions,"
Journal of Political Economy,
University of Chicago Press, vol. 82(6), pages 1063-93, Nov.-Dec..
- Andrew B. Abel & B. Douglas Bernheim, 1988.
"Fiscal Policy With Impure Intergenerational Altruism,"
NBER Working Papers
2613, National Bureau of Economic Research, Inc.
- Abel, Andrew B & Bernheim, B Douglas, 1991. "Fiscal Policy with Impure Intergenerational Altruism," Econometrica, Econometric Society, vol. 59(6), pages 1687-1711, November.
- Trudy Ann Cameron & Michelle D. James, 1986.
"Efficient Estimation Methods for "Closed-Ended" Contingent Valuation Surveys,"
UCLA Economics Working Papers
404, UCLA Department of Economics.
- Cameron, Trudy Ann & James, Michelle D, 1987. "Efficient Estimation Methods for "Closed-ended' Contingent Valuation Surveys," The Review of Economics and Statistics, MIT Press, vol. 69(2), pages 269-76, May.
- Andreoni, James, 1990. "Impure Altruism and Donations to Public Goods: A Theory of Warm-Glow Giving?," Economic Journal, Royal Economic Society, vol. 100(401), pages 464-77, June.
- Johannesson, Magnus & Johansson, Per-Olov & Kristrom, Bengt & Gerdtham, Ulf-G., 1993. "Willingness to pay for antihypertensive therapy -- further results," Journal of Health Economics, Elsevier, vol. 12(1), pages 95-108, April.
- Johannesson, Magnus & Johansson, Per-Olov & O'Conor, Richard M., 1996.
"The Value of Private Safety versus the Value of Public Safety,"
SSE/EFI Working Paper Series in Economics and Finance
103, Stockholm School of Economics.
- Johannesson, Magnus & Johansson, Per-Olov & O'Conor, Richard M, 1996. "The Value of Private Safety versus the Value of Public Safety," Journal of Risk and Uncertainty, Springer, vol. 13(3), pages 263-75, November.
- Anna Alberini, 1995. "Testing Willingness-to-Pay Models of Discrete Choice Contingent Valuation Survey Data," Land Economics, University of Wisconsin Press, vol. 71(1), pages 83-95.
- Johansson, Per-Olov, 1994. "Altruism and the value of statistical life: Empirical implications," Journal of Health Economics, Elsevier, vol. 13(1), pages 111-118, March.
- Jones-Lee, Michael W & Loomes, Graham & Philips, P R, 1995. "Valuing the Prevention of Non-fatal Road Injuries: Contingent Valuation vs. Standard Gambles," Oxford Economic Papers, Oxford University Press, vol. 47(4), pages 676-95, October.
- Kip Viscusi, W. & Magat, Wesley A. & Huber, Joel, 1991. "Pricing environmental health risks: survey assessments of risk-risk and risk-dollar trade-offs for chronic bronchitis," Journal of Environmental Economics and Management, Elsevier, vol. 21(1), pages 32-51, July.
- Jones-Lee, M W, 1992. "Paternalistic Altruism and the Value of Statistical Life," Economic Journal, Royal Economic Society, vol. 102(410), pages 80-90, January.
- Jones-Lee, M W, 1991. " Altruism and the Value of Other People's Safety," Journal of Risk and Uncertainty, Springer, vol. 4(2), pages 213-19, April.
- Kahneman, Daniel & Knetsch, Jack L., 1992. "Valuing public goods: The purchase of moral satisfaction," Journal of Environmental Economics and Management, Elsevier, vol. 22(1), pages 57-70, January.
- Chib, Siddhartha, 1992. "Bayes inference in the Tobit censored regression model," Journal of Econometrics, Elsevier, vol. 51(1-2), pages 79-99.
- Krupnick, Alan J & Cropper, Maureen L, 1992. " The Effect of Information on Health Risk Valuations," Journal of Risk and Uncertainty, Springer, vol. 5(1), pages 29-48, February.
- Palfrey, Thomas R. & Rosenthal, Howard, 1988. "Private incentives in social dilemmas : The effects of incomplete information and altruism," Journal of Public Economics, Elsevier, vol. 35(3), pages 309-332, April.
When requesting a correction, please mention this item's handle: RePEc:wly:hlthec:v:11:y:2002:i:7:p:623-635. 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: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
If references are entirely missing, you can add them using this form.