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Valuation of health inputs and convenience in new products

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Author

Summary, in English

The prevalence of illnesses related to the modern diet and a more sedentary lifestyle has increased markedly over the last few decades. There is therefore a need for effective strategies to promote health and to reduce the prevalence of diet-related diseases. In this paper, we study the willingness to pay for a new concept, healthy canteen takeaways. In the analysis, we depart from a household production model. To control for possible endogeneity of the health state, we use a control function approach. The result suggests that health inputs, such as low-fat meat and a larger amount of vegetables, increase respondents’ utility. Respondents’ valuations of the convenience attribute are very heterogenous, with both positive and negative values. From a policy perspective, the IV estimation turns out to be of importance, with a sign change in the valuation of low-fat meals for individuals with a poor health state (high BMI).

Publishing year

2013

Language

English

Publication/Series

Working Paper No 2013:7

Issue

7

Document type

Working paper

Publisher

Department of Economics, Lund University

Topic

  • Economics

Keywords

  • endogen
  • discrete choice
  • health
  • household production
  • instrumental variable

Status

Published