Average willingness to pay for disease prevention with personalized health information

David Crainich and Louis Eeckhoudt

No 2016-EQM-02, Working Papers from IESEG School of Management

Abstract: Personal health related information modifies individuals’ willingness to pay for disease programs inasmuch as it allows health status assessment based on intrinsic (instead of average) characteristics. In this paper, we examine the effect that personalized about the baseline probability of disease has on the average willingness to pay programs reducing either the probability of disease (self-protection) or the severity of disease (self-insurance). We show that such an information rises the average willingness to pay for self-protection while it increases the average willingness to pay for self-insurance if health and wealth are complements (i.e. the marginal utility of wealth rises with health).

Keywords: Personalized health information; disease prevention; willingness to pay (search for similar items in EconPapers)
JEL-codes: D81 I18 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2016-02
New Economics Papers: this item is included in nep-hea and nep-upt
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Related works:
Journal Article: Average willingness to pay for disease prevention with personalized health information (2017)
Working Paper: Average willingness to pay for disease prevention with personalized health information (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:ies:wpaper:e201602

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