Willingness to pay and QALYs: What can we learn about valuing foodborne risk?

Andersson, Henrik, Hammitt, James K. and Sundström, Kristian (2011) Willingness to pay and QALYs: What can we learn about valuing foodborne risk? TSE Working Paper, n. 11-272

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Official URL: http://tse-fr.eu/pub/25461

Abstract

This study examines the value of reducing foodborne risk. Research on the valuation of health risk has been dominated by the study of mortality risk. Foodborne risk is, however, in most cases non-fatal and this study therefore focuses on individuals' preferences for reducing morbidity risk related to food consumption. We obtain estimates of the value of a statistical case (VSC) for morbidity risk and the value of a statistical life (VSL) for mortality risk in line with previous findings in the literature. However, we also examine whether WTP is proportional to the expected change in QALYs and estimate a WTP per QALY. We find that WTP is increasing with but not proportional to the
change in QALYs. Our monetary estimates are significantly higher than expected and suggest that respondents may have found it dificult to evaluate both a change in risk and health level.

Item Type: Monograph (Working Paper)
Language: English
Date: 9 November 2011
Uncontrolled Keywords: Contingent valuation, Food safety, QALY, Willingness to pay
Subjects: B- ECONOMIE ET FINANCE
Divisions: TSE-R (Toulouse)
Institution: Université Toulouse 1 Capitole
Site: UT1
Date Deposited: 09 Jul 2014 17:22
Last Modified: 07 Mar 2018 13:22
OAI ID: oai:tse-fr.eu:25461
URI: http://publications.ut-capitole.fr/id/eprint/15185

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