This study addresses the question of willingness to pay (WTP) for hormone replacement therapy (HRT) in order to alleviate menopausal symptoms. The woman obtains utility from consumption of goods and health. The purchase of a treatment is represented as a shift in the health production function during the treatment period. The mean WTP for the HRT is estimated using a parametric and a non-parame...

The paper explores the merit of the willingness-to-pay (WTP) method as a way to elicit public preferences regarding health care priorities. The aim is to test the extent to which the implicit ranking inferred from the ordinal differences in WTP-values corresponds with respondents' explicit ranking of the same programmes. This issue of convergent validity is explored by face-to-face interviewing...

OBJECTIVE To estimate the willingness to pay (WTP) per quality-adjusted life year (QALY) value for life-saving treatments and to determine factors affecting the WTP per QALY value. DESIGN A cross-sectional survey with multistage sampling and face-to-face interviews. SETTING General population in the southern part of Thailand. PARTICIPANTS A total of 600 individuals were included in the st...

We design and conduct a stated-preference survey to test whether willingness to pay (WTP) to reduce risk of acute illness is proportional to the corresponding change in expected qualityadjusted life years (QALYs). For the short-term illnesses we consider, proportionality is required by economic theory if QALYs measure utility for health. Proportionality implies a constant WTP per QALY and that ...

This paper provides the first willingness-to-pay (WTP) estimates in support of a national climatechange policy that are comparable with the costs of actual legislative efforts in the U.S. Congress. Based on a survey of 2034 American adults, we find that households are, on average, willing to pay between $79 and $89 per year in support of reducing domestic greenhouse-gas (GHG) emissions 17% by 2...

The Effect of Power Outages and Cheap Talk on Willingness to Pay to Reduce Outages Using an open-ended contingent valuation survey, we analyze how (i) experience of a power outage due to one of the worst storms ever to hit Sweden and (ii) a cheap talk script affect respondents’ WTP to avoid power outages. Experience significantly increases and a cheap talk script decreases the proportion of res...

Bid data from a Vickrey auction for pork chops with embedded environmental attributes were analyzed. I t was found that approximately 62% of the participants had a positive WTP for the most "environmentally friendly" ly" package of pork. Thirty percent of the participants had no WTP, and 8% had a negative WTP. A polychoto­ mous choice model was used to accommodate data having an anchoring point...

Quantity discount pricing is a common practice used by business-to-business and business-toconsumer companies. A key characteristic of quantity discount pricing is that the marginal price declines with higher purchase quantities. In this paper, we propose a choice-based conjoint model for estimating consumer-level willingness-to-pay (WTP) for varying quantities of a product and for designing op...

A contingent valuation survey was conducted in Sizuoka, Japan, to estimate the willingness to pay (WTP) for reductions in the risk of dying and calculate the value of statistical life (VSL) for use in environmental policy in Japan. Special attention was devoted to the effects of age and health characteristics on WTP. We find that the VSLs are somewhat lower (103 to 344 million yen) than those f...

Welfare evaluation of a policy that alters the quality of a resource can often be cast as the problem of calculating mean Willingness to Pay (WTP) in a population of consumers with random utilities induced by varying tastes and budgets. This interpretation is particularly useful when some of the components of choice at the level of the individual are discrete. This paper reviews the theory of W...