Baseline risk and marginal willingness to pay for health risk reduction.
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ABSTRACT:
SUBMITTER: Gerking S
PROVIDER: S-EPMC5816778 | biostudies-literature | 2017
REPOSITORIES: biostudies-literature
Publications
Baseline risk and marginal willingness to pay for health risk reduction.
Gerking Shelby S Adamowicz Wiktor W Dickie Mark M Veronesi Marcella M
Journal of risk and uncertainty 20171213 2
Empirical results presented in this paper suggest that parents' marginal willingness to pay (MWTP) for a reduction in morbidity risk from heart disease is inversely related to baseline risk (i.e., the amount of risk initially faced) both for themselves and for their children. For instance, a 40% reduction from the mean of baseline risk results in an increase in MWTP by 70% or more. Thus, estimates of monetary benefits of public programs to reduce heart disease risk would be understated if the st ...[more]
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