Age, Health and the Willingness to Pay for Mortality Risk Reductions: A Contingent Valuation Survey of Ontario Residents

• Published in: Journal of risk and uncertainty Vol. 24; no. 2; pp. 161 - 186
• Main Authors: KRUPNICK, ALAN, ALBERINI, ANNA, CROPPER, MAUREEN, SIMON, NATHALIE, O'BRIEN, BERNIE, GOEREE, RON, HEINTZELMAN, MARTIN
• Format: Journal Article
• Language: English
• Published: New York Kluwer Academic Publishers 01-03-2002; Springer Nature B.V
• Subjects: Age groups; Air pollution; Chronic diseases; contingent valuation; Cost-benefit analysis; Death; Health risks; Health status; Mental health; Mortality; Mortality risk; Older adults; Older people; Probabilities; Questionnaires; Risk; risk reduction; Statistical methods; Uncertainty; Willingness to pay; Canada, Ontario
• ISSN: 0895-5646; 1573-0476
• DOI: 10.1023/A:1014020027011

We present the results of a contingent valuation survey eliciting willingness to pay (WTP) for mortality risk reductions. The survey was self-administered using a computer by 930 persons in Hamilton Ontario aged 40 to 75. Visual and audio aides were used to enhance risk comprehension. Mean WTP figures for a contemporaneous risk reduction imply a value of a statistical life of approximately C$1.2 to C$3.8 million (1999 C$). Mean WTP is constant with age up to 70 years, and is about 30 percent lower for persons aged 70 and older. WTP is unaffected by physical health status, but is affected by mental health.