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- Title
Measuring willingness-to-pay for risk reduction: an application of conjoint analysis.
- Authors
Telser, Harry; Zweifel, Peter
- Abstract
This study applies conjoint analysis (CA) to estimate the marginal willingness-to-pay (MWTP) of elderly individuals for a reduction of the risk of fracture of the femur. The good in question is a hypothetical hip protector which lowers the risk of a fracture by different amounts. Other attributes are ease of handling, wearing comfort, and out-of-pocket cost, which are traded off against risk reduction. In 500 face-to-face interviews, pensioners stated whether or not they would buy the product. Results suggest that MWTP for wearing comfort exceeds that for risk reduction. Indeed, willingness-to-pay for the product as a whole is negative, indicating that it should not be included as a mandatory benefit in health insurance.
- Subjects
MEDICAL care; CONJOINT analysis; WILLINGNESS to pay; BONE fractures; HEALTH insurance; FEMUR; BONE fracture prevention; COMPARATIVE studies; CUSTOMER satisfaction; COST effectiveness; DECISION making; ECONOMICS; ACCIDENTAL falls; HIP joint injuries; INTERVIEWING; PROTECTIVE clothing; RESEARCH methodology; MEDICAL needs assessment; MEDICAL cooperation; RESEARCH; EVALUATION research; RELATIVE medical risk; QUALITY-adjusted life years; STATISTICAL models
- Publication
Health Economics, 2002, Vol 11, Issue 2, p129
- ISSN
1057-9230
- Publication type
journal article
- DOI
10.1002/hec.653