 International differences in willingness to pay for reduced risks due to risk representation: evidence from cross-country surveys in Northeast AsiaGuofang Zhai Journal of Risk Research, 2011, vol. 14, issue 10, 1177-1190 Abstract: International benefit transfer from developed countries is often used to evaluate international aid projects due to the lack of primary study in the policy country, particularly when the policy country is a developing one. This paper shows that different countries may have considerable differences in their willingness to pay (WTP) for risk reduction using three surveys with the same protocol carried out around the same time in a coastal city in China, Japan, and South Korea. Japanese WTP is more than the South Korean one. Chinese WTP changes greatly depending on price adjustment coefficients: purchasing power price index or real exchange rate, but it is not impacted by risk reduction representation as in Japan and South Korea. This result suggests that more attention needs to be paid to the effect of international cultural settings when applying international benefit transfers. Date: 2011 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:taf:jriskr:v:14:y:2011:i:10:p:1177-1190 Ordering information: This journal article can be ordered from DOI: 10.1080/13669877.2011.587889 Access Statistics for this article Journal of Risk Research is currently edited by Bryan MacGregor More articles in Journal of Risk Research from Taylor & Francis Journals |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.