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Valuation of the risk of SARS in Taiwan

  • Jin-Tan Liu

    (Department of Economics, National Taiwan University, Taiwan, and NBER)

  • James K. Hammitt

    (School of Public Health, Harvard University, Boston, Massachusetts, USA)

  • Jung-Der Wang

    (School of Public Health, National Taiwan University, Taiwan)

  • Meng-Wen Tsou

    (Department of International Trade, Tamkang University, Taiwan)

Two surveys conducted in Taiwan during the spring 2003 severe acute respiratory syndrome (SARS) epidemic reveal a high degree of concern about the threat posed by SARS to Taiwan and its residents, although respondents believe they are knowledgeable about the risk of SARS and that it is susceptible to individual control. Willingness to pay (WTP) to reduce the risk of infection and death from SARS is elicited using contingent valuation methods. Estimated WTP is high, implying values per statistical life of US$3 to 12 million. While consistent with estimates for high-income countries, these values are substantially larger than previous estimates for Taiwan and may be attributable to the high degree of concern about SARS at the time the data were collected. Copyright © 2004 John Wiley & Sons, Ltd.

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File URL: http://hdl.handle.net/10.1002/hec.911
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Article provided by John Wiley & Sons, Ltd. in its journal Health Economics.

Volume (Year): 14 (2005)
Issue (Month): 1 ()
Pages: 83-91

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Handle: RePEc:wly:hlthec:v:14:y:2005:i:1:p:83-91
Contact details of provider: Web page: http://www3.interscience.wiley.com/cgi-bin/jhome/5749

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  2. Ryan, Mandy & Scott, David A. & Donaldson, Cam, 2004. "Valuing health care using willingness to pay: a comparison of the payment card and dichotomous choice methods," Journal of Health Economics, Elsevier, vol. 23(2), pages 237-258, March.
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  4. James Hammitt & Jin-Tan Liu, 2004. "Effects of Disease Type and Latency on the Value of Mortality Risk," Journal of Risk and Uncertainty, Springer, vol. 28(1), pages 73-95, January.
  5. Hammitt, James K & Graham, John D, 1999. "Willingness to Pay for Health Protection: Inadequate Sensitivity to Probability?," Journal of Risk and Uncertainty, Springer, vol. 18(1), pages 33-62, April.
  6. Hammitt, James K. & Liu, Jin-Tan & Liu, Jin-Long, 2001. "Contingent valuation of a Taiwanese wetland," Environment and Development Economics, Cambridge University Press, vol. 6(02), pages 259-268, May.
  7. Alberini Anna, 1995. "Efficiency vs Bias of Willingness-to-Pay Estimates: Bivariate and Interval-Data Models," Journal of Environmental Economics and Management, Elsevier, vol. 29(2), pages 169-180, September.
  8. Corso, Phaedra S & Hammitt, James K & Graham, John D, 2001. " Valuing Mortality-Risk Reduction: Using Visual Aids to Improve the Validity of Contingent Valuation," Journal of Risk and Uncertainty, Springer, vol. 23(2), pages 165-84, September.
  9. W. Kip Viscusi & Joseph E. Aldy, 2003. "The Value of a Statistical Life: A Critical Review of Market Estimates throughout the World," NBER Working Papers 9487, National Bureau of Economic Research, Inc.
  10. Jin-Tan Liu & James K Hammitt, 1999. "Perceived risk and value of workplace safety in a developing country," Journal of Risk Research, Taylor & Francis Journals, vol. 2(3), pages 263-275, July.
  11. Tsu-Tan Fu & Jin-Tan Liu & James K. Hammitt, 1999. "Consumer Willingness to Pay for Low-Pesticide Fresh Produce in Taiwan," Journal of Agricultural Economics, Wiley Blackwell, vol. 50(2), pages 220-233.
  12. Jin-Tan Liu & James K. Hammitt & Jung-Der Wang & Jin-Long Liu, 2000. "Mother's willingness to pay for her own and her child's health: a contingent valuation study in Taiwan," Health Economics, John Wiley & Sons, Ltd., vol. 9(4), pages 319-326.
  13. repec:reg:rpubli:282 is not listed on IDEAS
  14. Liu, Jin-Tan & Hammitt, James K. & Liu, Jin-Long, 1997. "Estimated hedonic wage function and value of life in a developing country," Economics Letters, Elsevier, vol. 57(3), pages 353-358, December.
  15. Thomas C. Brown & Patricia A. Champ & Richard C. Bishop & Daniel W. McCollum, 1996. "Which Response Format Reveals the Truth about Donations to a Public Good?," Land Economics, University of Wisconsin Press, vol. 72(2), pages 152-166.
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