Willingness to Pay and QALYs: What Can We Learn about Valuing Foodborne Risk?
Författare
Summary, in English
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.
Publiceringsår
2015
Språk
Engelska
Sidor
727-752
Publikation/Tidskrift/Serie
Journal of Agricultural Economics
Volym
66
Issue
3
Dokumenttyp
Artikel i tidskrift
Förlag
Wiley-Blackwell
Ämne
- Other Agricultural Sciences not elsewhere specified
- Economics
Nyckelord
- food risks
- QALY
- valuation
- willingness to pay
Status
Published
ISBN/ISSN/Övrigt
- ISSN: 1477-9552