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Contingent Valuation of Mortality Risk Reduction in Developing Countries: A Mission Impossible?

Author

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  • Minhaj Mahmud

    (Keele University, Centre for Economic Research and School of Economic and Management Studies)

Abstract

We 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.

Suggested Citation

  • Minhaj Mahmud, 2006. "Contingent Valuation of Mortality Risk Reduction in Developing Countries: A Mission Impossible?," Keele Economics Research Papers KERP 2006/01, Centre for Economic Research, Keele University.
    • Handle: RePEc:kee:kerpuk:2006/01
    Note: An earlier version of this paper is available as Working Paper No 169, Department of Economics, Göteborg University, 2005.
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    File URL: http://www.keele.ac.uk/depts/ec/wpapers/kerp0601.pdf
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    Cited by:

    1. Havet, Nathalie & Morelle, Magali & Remonnay, Raphaël & Carrere, Marie-Odile, 2011. "Valuing the Benefit for Cancer Patients of Receiving Blood Transfusions at Home," Journal of Benefit-Cost Analysis, Cambridge University Press, vol. 2(3), pages 1-19, August.
    2. Nathalie Havet & Magali Morelle & Raphaël Remonnay & Marie-Odile Carrere, 2012. "Cancer patients’ willingness to pay for blood transfusions at home: results from a contingent valuation study in a French cancer network," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 13(3), pages 289-300, June.

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    JEL classification:

    • I1 - Health, Education, and Welfare - - Health
    • D6 - Microeconomics - - Welfare Economics
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty
    • H4 - Public Economics - - Publicly Provided Goods

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