Does timing matter? The role of health information shocks in measuring willingness to pay

Carolin Brinkmann (), Sebastian Neumann-Böhme, Werner Brouwer and Tom Stargardt
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Carolin Brinkmann: University of Hamburg
Sebastian Neumann-Böhme: University of Hamburg
Tom Stargardt: University of Hamburg

The European Journal of Health Economics, 2025, vol. 26, issue 8, No 6, 1413 pages

Abstract: Abstract Objectives The optimal point in time to measure willingness-to-pay (WTP) remains unclear. We investigated the role of health information shocks (HIS) in individuals’ WTP, analyzing the extent to which news of SARS-CoV-2 infections among people they know/themselves altered WTP for booster vaccinations. Methods We elicited WTP in eight European countries using the European Covid Survey. First, we presented participants with a hypothetical setting recommending a booster vaccination that had to be paid out-of-pocket. To measure WTP, we elicited a lower and upper WTP limit, and a WTP value contingent on both of these. To measure HIS, we asked about the duration since participants received news of COVID-19 cases among people they know (including themselves), as well as the degree of personal connection to these cases and their severity. We used a two-part model to estimate the association between HIS and individuals’ WTP. Results Among the 5809 observations, 76.8% stated a WTP for a booster vaccination greater than €0. At least one HIS was reported by 61.9% of participants. The occurrence of a HIS was associated with an increase in WTP of €14.54 (logistic: P

Keywords: Willingness to pay; Information shock; Health shock; Vaccination; I10; I12 (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/s10198-025-01774-7

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