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Comorbidities and the willingness to pay for reducing the risk of a targeted disease: introducing endogenous effort for risk reduction

  • Liqun Liu

    (Private Enterprise Research Center, Texas A&M University, College Station, USA)

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    Previous studies demonstrated that the willingness to pay (WTP) for reducing the risk of a targeted disease increases with the severity of a comorbidity condition. They evaluated the WTPs at positions where otherwise identical individuals who have unequal comorbidity conditions all have the same consumption of wealth and the same probability of getting a targeted disease. This paper endogenizes the individual effort to reduce the risk of the targeted disease. It finds that individuals with more severe comorbidity will spend more on reducing the risk of the targeted disease and, therefore, have a lower probability of getting the targeted disease and a lower net consumption of wealth at equilibrium. Nonetheless, we find that the previous conclusion concerning the relationship between the WTP for the targeted risk reduction and the comorbidity is robust. Copyright © 2004 John Wiley & Sons, Ltd.

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    File URL: http://hdl.handle.net/10.1002/hec.865
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    Article provided by John Wiley & Sons, Ltd. in its journal Health Economics.

    Volume (Year): 13 (2004)
    Issue (Month): 5 ()
    Pages: 493-498

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    Handle: RePEc:wly:hlthec:v:13:y:2004:i:5:p:493-498
    Contact details of provider: Web page: http://www3.interscience.wiley.com/cgi-bin/jhome/5749

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    1. Cropper, Maureen L & Aydede, Sema K & Portney, Paul R, 1994. "Preferences for Life Saving Programs: How the Public Discounts Time and Age," Journal of Risk and Uncertainty, Springer, vol. 8(3), pages 243-65, May.
    2. Bleichrodt, Han & Crainich, David & Eeckhoudt, Louis, 2003. "Comorbidities and the willingness to pay for health improvements," Journal of Public Economics, Elsevier, vol. 87(11), pages 2399-2406, October.
    3. Browning, Edgar K & Gronberg, Timothy & Liu, Liqun, 2000. "Alternative Measures of the Marginal Cost of Funds," Economic Inquiry, Western Economic Association International, vol. 38(4), pages 591-99, October.
    4. Johannesson, Magnus & Johansson, Per-Olov, 1997. "Is the valuation of a QALY gained independent of age? Some empirical evidence," Journal of Health Economics, Elsevier, vol. 16(5), pages 589-599, October.
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    7. Dreze, Jean & Stern, Nicholas, 1987. "The theory of cost-benefit analysis," Handbook of Public Economics, in: A. J. Auerbach & M. Feldstein (ed.), Handbook of Public Economics, edition 1, volume 2, chapter 14, pages 909-989 Elsevier.
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