Measuring Consumer Willingness to Pay to Reduce Health Risks of Contracting Dengue Fever

Abstract

Located in the subtropics, Taiwan is one of the major epidemic areas for dengue fever, with severe epidemics occurring in recent years. Dengue fever has become a serious health threat to Taiwan’s residents and a potentially serious economic cost to society. This study recruited 730 random participants and adopted the contingent valuation method to understand the factors influencing the populace’s willingness to pay (WTP) to reduce the health risk of dengue fever. The results show that high-income women with children and people with higher preventive perceptions and behavior are more willing to invest in preventive measures against dengue fever. In the evaluation of WTP for preventive treatment for health risks, each person was willing to pay on average NT$751 annually to lower psychological health risks, NT$793 annually to lower the risk of illness, and NT$1086 annually to lower the risk of death.

Willingness to Pay for a Hypothetical COVID-19 Vaccine in the United States: A Contingent Valuation Approach

“…To further confirm the wellness of the model performance, we followed a similar three-step validation process suggested by Palanca-Tan [ 13 ]. First, income was found to be statistically significant and positively related to WTP, a common and expected finding in the past CVM studies [ 17 , 18 , 19 , 20 ]. Second, the log of the bid had a negative sign with a p -value of 0.000.…”

Does COVID-19 Affect Household Financial Behaviors? Fresh Evidence From China

“…The availability bias may lead an actor to misestimate the probability of risk occurrence, thus affecting the demand for insurance (McClelland et al, 1993). For example, under the threat of dengue fever, residents of Taiwan were willing to pay between NT$793 and NT$1086 per person annually to purchase health insurance (Lin et al, 2020). Under the protection of universal healthcare in Britain, households do not typically buy commercial insurance to protect against health risks; however, this may change if the quality of free healthcare deteriorates (Guariglia & Rossi, 2004).…”

“…Conversely, optimistic attitudes toward emergencies encourage consumers to borrow (Aslam et al, 2020). As risk attitude increases, people are more likely to reduce their investment behaviors (Lin et al, 2020). Households who have experienced emergencies tend to exhibit pessimistic attitudes toward investment in stocks and are less likely to save for the future (Fajardo & Dantas, 2018).…”