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KMID : 1170320100160010001
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Korean Journal of Health Economics and Policy
2010 Volume.16 No. 1 p.1 ~ p.22
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Estimation of Willingness to Pay for Reducing the Risk of Foodborne Disease Using Contingent Valuation Method
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Lee Sue-Hyung
Shin Ho-Sung
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Abstract
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This study estimated the WTP(Willingness-to-pay) for reducing the risk of foodborne disease using contingent valuation method. WTP is elicited with double-bounded dichotomous choice questions in which respondents(selected from the Seoul population using survey design and are aged above 19, n=499) decided whether to purchase a more expensive food to reduce the risk of foodborne disease. For data analyses, the study employed a relative likelihoods of the Interval-data Model Method and Bayesian estimation method. The study found that bids, income, age and education were associated with the probability of higher WTP for reducing the risk of foodborne disease. Respondents answered that they would be willing to pay minimum 3,108[2,759, 3,454] ~ maximum 3,997[3,101, 4,752] Korean won.
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KEYWORD
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Foodbome Disease, Contingent Valuation Method, Double-bounded Dichotomous Choice, Willingness to Pay, Interval-data Model, Modified Bivariate Model, Bayesian Estimation
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