Andersson, Henrik, Hammitt, James K. and Sundström, Kristian (2015) Willingness to pay and QALYs: What can we learn about valuing foodborne risk? American Journal of Agricultural Economics, 66 (3). pp. 727-752.

Preview

Text Download (926kB) | Preview

Abstract

This paper examines the value of reducing foodborne risk. Previous research on the valuation of health risk has been dominated by the study of mortality risk. However, in most cases foodborne illnesses are non-fatal, so we focus on individuals’ preferences for reducing morbidity risk, while also including a realistic, if remote, chance of death. We use a contingent valuation method on a Swedish sample and we estimate a value of a statistical illness consistent with previous findings in the literature. We also examine how willingness to pay (WTP) varies with the expected change in quality-adjusted life years (QALYs) and estimate the WTP per QALY. We find that WTP increases with, though less than proportionally to, a change in QALYs. However, our results also suggest that respondents may have found it difficult to evaluate compound risks of both morbidity and mortality simultaneously.

Available Versions of this Item

• Willingness to pay and QALYs: What can we learn about valuing foodborne risk? (deposited 09 Jul 2014 17:22)
  • Willingness to pay and QALYs: What can we learn about valuing foodborne risk? (deposited 15 Mar 2016 14:13) [Currently Displayed]