To Be, or Not to Be, that is the Question: An Empirical Study of the WTP for an Increased Life Expectancy at an Advanced Age
JOURNAL OF RISK AND UNCERTAINTY, Vol. 13, No. 2
Posted: 5 May 1998
This study reports an attempt to measure the value of an increased survival probability at high ages. It turns out that the average willingness to pay for a programme which would increase the expected length of life by one year, conditional on having survived to the age of 75 years, is lower than $1,500. The willingness to pay increases with a person's age, but at a low and seemingly constant rate (1-4 percent per year).
JEL Classification: J17
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