Average willingness to pay for disease prevention with personalized health information

David Crainich and Louis Eeckhoudt ()
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Louis Eeckhoudt: LEM - Lille économie management - UMR 9221 - UA - Université d'Artois - UCL - Université catholique de Lille - Université de Lille - CNRS - Centre National de la Recherche Scientifique

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Abstract: Personal health related information modifies individuals' willingness to pay for disease prevention programs inasmuch as it allows health status assessment based on intrinsic (instead of average) characteristics. In this paper, we examine the effect that personalized information about the baseline probability of disease has on the average willingness to pay for programs reducing either the probability of disease (self-protection) or the severity of disease (self-insurance). We show that such information raises the average willingness to pay for self-protection while it increases the average willingness to pay for self-insurance if health and wealth are complements (i.e. the marginal utility of wealth rises with health).

Keywords: Personalized health information; disease prevention; willingness to pay (search for similar items in EconPapers)
Date: 2017
Note: View the original document on HAL open archive server: https://hal.science/hal-01744522
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Citations: View citations in EconPapers (7)

Published in Journal of Risk and Uncertainty, 2017, 55 (1), pp.29 - 39. ⟨10.1007/s11166-017-9265-z⟩

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Journal Article: Average willingness to pay for disease prevention with personalized health information (2017)
Working Paper: Average willingness to pay for disease prevention with personalized health information (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01744522

DOI: 10.1007/s11166-017-9265-z

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