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).
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Johannesson, M., Johansson, PO. 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. J Risk Uncertainty 13, 163–174 (1996). https://doi.org/10.1007/BF00057866
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DOI: https://doi.org/10.1007/BF00057866