Using Contingent Valuation in Hypothetical Settings: Estimating the WTP for an HIV/AIDS Vaccine

Camilla von Keyserlingk and Bruce Rhodes

Journal of Interdisciplinary Economics, 2007, vol. 18, issue 1, 71-89

Abstract: A contingent valuation survey was carried out to assess willingness to pay (WTP) for an HIV/AIDS vaccine. The survey was conducted among students at the University of KwaZulu-Natal (UKZN), Durban. The payment card method was used to elicit willingness to pay estimates. Questions on demographics, socio-economic status, sexual behaviour, HIV risk and HIV testing were also collected and analysed in an ANOVA regression model to determine their effect on the WTP variable. Among the respondents, 71.5% would want to be vaccinated at a mean WTP of $108 (R648) and median of $33.4 (R200). The most common reasons for not wanting to be vaccinated were concerns about the safety of the vaccine and a low perceived risk of contracting HIV. Higher ability to pay (higher monthly income) was positively associated with WTP. Having been tested for HIV before and being female were both found to decrease WTP. While the limits of the willingness to pay method were acknowledged, the results have important implications regarding investment decisions into vaccine research and development as well as the design of marketing campaigns for a future AIDS vaccine. Indeed this is the first study asking such questions for a potential high risk specific target group of 16–24 year old adults.

Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:sae:jinter:v:18:y:2007:i:1:p:71-89

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