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On the contingent valuation of mortality risk reduction in developing countries

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  • Minhaj Mahmud

Abstract

Using the contingent valuation method in developing countries to value mortality risk reduction is particularly challenging because of the low level education of the respondents. In this article, we investigate whether some brief training regarding probability and risk concepts has any significant effect on the willingness-to-pay (WTP) responses. We elicit individuals' risk perceptions by providing information on age specific mortality risks and find that people on average overestimate the mortality risk at younger ages and underestimate it at older ages. Our results indicate a significantly higher WTP for the trained sub-sample and WTP is sensitive to the magnitude of risk reduction for both the sub-samples.

Suggested Citation

  • Minhaj Mahmud, 2009. "On the contingent valuation of mortality risk reduction in developing countries," Applied Economics, Taylor & Francis Journals, vol. 41(2), pages 171-181.
    • Handle: RePEc:taf:applec:v:41:y:2009:i:2:p:171-181
    DOI: 10.1080/00036840600994252
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    1. Henrik Andersson & Mikael Svensson, 2008. "Cognitive ability and scale bias in the contingent valuation method," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 39(4), pages 481-495, April.
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    1. repec:hal:wpspec:tel-03767752 is not listed on IDEAS
    2. Gaviria, Carlos Felipe & Martínez, Daniel, 2013. "Air pollution and the willingness to pay of exposed individuals in downtown Medellín, Colombia," Revista Lecturas de Economía, Universidad de Antioquia, CIE, issue 80, pages 153-182, July.
    3. Grisolía, José M. & Longo, Alberto & Hutchinson, George & Kee, Frank, 2018. "Comparing mortality risk reduction, life expectancy gains, and probability of achieving full life span, as alternatives for presenting CVD mortality risk reduction: A discrete choice study of framing ," Social Science & Medicine, Elsevier, vol. 211(C), pages 164-174.

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