Willingness to Pay and QALYs: What Can We Learn about Valuing Foodborne Risk?
(2015) In Journal of Agricultural Economics 66(3). p.727-752- 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.... (More)
- 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. (Less)
Please use this url to cite or link to this publication:
https://lup.lub.lu.se/record/7972179
- author
- Andersson, Henrik ; Hammitt, James K. and Sundström, Kristian LU
- organization
- publishing date
- 2015
- type
- Contribution to journal
- publication status
- published
- subject
- keywords
- food risks, QALY, valuation, willingness to pay
- in
- Journal of Agricultural Economics
- volume
- 66
- issue
- 3
- pages
- 727 - 752
- publisher
- Wiley-Blackwell
- external identifiers
-
- wos:000360017000008
- scopus:84939464720
- ISSN
- 1477-9552
- DOI
- 10.1111/1477-9552.12109
- language
- English
- LU publication?
- yes
- id
- e3b25a27-c134-4cea-88fc-74025751c561 (old id 7972179)
- date added to LUP
- 2016-04-01 10:09:37
- date last changed
- 2023-12-22 20:00:15
@article{e3b25a27-c134-4cea-88fc-74025751c561, 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.}}, author = {{Andersson, Henrik and Hammitt, James K. and Sundström, Kristian}}, issn = {{1477-9552}}, keywords = {{food risks; QALY; valuation; willingness to pay}}, language = {{eng}}, number = {{3}}, pages = {{727--752}}, publisher = {{Wiley-Blackwell}}, series = {{Journal of Agricultural Economics}}, title = {{Willingness to Pay and QALYs: What Can We Learn about Valuing Foodborne Risk?}}, url = {{http://dx.doi.org/10.1111/1477-9552.12109}}, doi = {{10.1111/1477-9552.12109}}, volume = {{66}}, year = {{2015}}, }