The willingness to pay for health improvement under comorbidity ambiguity

Yoichiro Fujii and Yusuke Osaki

Journal of Health Economics, 2019, vol. 66, issue C, 91-100

Abstract: Accumulated medical information is necessary to determine comorbidity risk between a primary disease and secondary diseases. However, medical decisions often must be made without conclusive evidence because individuals do not have sufficient information. By introducing ambiguity regarding comorbidities, we describe situations in which individuals face a set of plausible comorbidity risks that determines the correlations between primary and secondary diseases. This study examines the conditions under which the willingness to pay for health improvement is larger with comorbidity ambiguity than without it. This study also examines the effect of changes in ambiguity and ambiguity aversion on the willingness to pay.

Keywords: Comorbidity ambiguity; Cost-benefit analysis; Smooth ambiguity model; α-maxmin model (search for similar items in EconPapers)
JEL-codes: D11 D81 I10 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jhecon:v:66:y:2019:i:c:p:91-100

DOI: 10.1016/j.jhealeco.2019.04.002

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