Valuing Changes in Morbidity: WTP Versus COI Measures

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This paper uses economic theory to examine behavior to mitigate adverse health effects and to compare cost of illness and willingness to pay measures of damages. It also provides estimates of conceptually correct willingness to pay economic benefit measures for changes in asthma severity. These willingness to pay measures are compared to cost of illness measures, variations of which are frequently used to value change in adverse health symptoms. Consistency checks on these willingness to pay estimates, obtained through a contingent valuation bidding approach, are developed and discussed.

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Date Linked: 04/19/2001

Valuing Changes in Morbidity: WTP Versus COI Measures

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