Willingness to pay for long-term home care services: Evidence from a stated preferences analysis
Anna Amilon,
Jacob Ladenburg,
Anu Siren and
Stine Vernstrøm Østergaard
The Journal of the Economics of Ageing, 2020, vol. 17, issue C
Abstract:
Population aging is expected to result in an increased demand for long-term home care services world-wide. In Denmark, long-term home care is predominately provided by local municipalities and is publicly financed. This paper uses a stated preferences approach to study the willingness to pay (WTP) for various components of long-term home care services, using household taxes as the payment vehicle. In our discrete choice experiment, we ask respondents to consider a hypothetical individual – an 83-year-old woman with physical limitations who lives alone – and to choose among various service packages for her. We find that respondents, on average, have strong preferences for improving long-term home care services. However, these average results are strongly driven by positive WTP among respondents with left-wing political views. Furthermore, WTP is positively associated with age, which implies an increasing demand for improved services as longevity increases. We conclude that WTP for tax-financed, long-term home care services is closely linked to respondent characteristics.
Keywords: long-term home care; willingness to pay; discrete choice experiment (search for similar items in EconPapers)
JEL-codes: J14 J18 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (11)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:joecag:v:17:y:2020:i:c:s2212828x20300037
DOI: 10.1016/j.jeoa.2020.100238
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