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Journal of Risk and Uncertainty

, Volume 13, Issue 2, pp 163–174 | Cite as

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

  • Magnus Johannesson
  • Per-Olov Johansson
Article

Abstract

This study reports an attempt to measure the value of an increased survival probability at advanced ages. It turns out that the average willingness to pay for a program 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).

Key words

expected length of life time preference contingent valuation willingness to pay 

JEL Classification

J17 

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Copyright information

© Kluwer Academic Publishers 1996

Authors and Affiliations

  • Magnus Johannesson
    • 1
  • Per-Olov Johansson
    • 2
  1. 1.Department of EconomicsStockholm School of EconomicsStockholmSweden
  2. 2.Department of EconomicsStockholm School of EconomicsStockholmSweden

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