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ON THE IMPORTANCE OF INTRODUCING PSYCHOLOGICAL VARIABLES IN THE WTP MODELS Sonia Pellegrini

ON THE IMPORTANCE OF INTRODUCING PSYCHOLOGICAL VARIABLES IN THE WTP MODELS Sonia Pellegrini Institute for Economic and Regional Research (IRER), University of Neuchâtel, Switzerland. R ESEARCH QUESTION The explanatory power of the WTP models is often quite low. Why?. R ESULTS

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ON THE IMPORTANCE OF INTRODUCING PSYCHOLOGICAL VARIABLES IN THE WTP MODELS Sonia Pellegrini

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  1. ON THE IMPORTANCE OF INTRODUCING PSYCHOLOGICAL VARIABLES IN THE WTP MODELS Sonia Pellegrini Institute for Economic and Regional Research (IRER), University of Neuchâtel, Switzerland. RESEARCH QUESTION The explanatory power of the WTP models is often quite low. Why? RESULTS The addition of the new variables yields a significant increase of the adjusted R2 of 3.95 points (+16.8%) (prob(F-test)=0.02). Joint insignificance of the new variables is rejected (prob(Wald test)=0.03). Among the usual variables, the income, the level of education, the sex of the respondents and the fact of having children are significant. An internal locus of control and the intensity with which illness is feared are the psychological features that influence the WTP. ASSUMPTION Important predictors may be omitted. The variables usually tested are the socio-economic characteristics of the respondents. Psychological features are absent of the models, even though they are likely to influence the perception of the illness. METHOD To test whether introducing new variables increases the explanatory power of the model, we will compare a basic model, which only contains usual variables, to an extended model with both usual and new variables. The model is a loglinear specification and is estimated with the ordinary least square. The Fisher test is used to assess the relevance of introducing the set of new variables in the model. The hypothesis of the nullity of all the new variables is tested with the Wald test . WTP FOR A TREATMENT CURING CHRONIC LBP • SURVEY • WTP is asked for a treatment curing chronic low back pain (LBP). • Sample of 180 people from the Swiss general population; • Face-to-face interviews; • Quota sampling according to sex, age and socio-economic status. • POTENTIAL PREDICTORS • Personal characteristics: sex, age, education, income, wealth, children, living in an urban area; • Prior experience with LBP, personally or through a relative; prior experience with chronic pain; Subjective health state; • Psychological features: anxiety, depression, locus of control, fear of illness in general and anticipated difficulty to cope with LBP. CONCLUSIONS Results encourage further investigation of the role of psychological variables in the formulation of the WTP. Difficulty is to seize psychological features through a questionnaire. Semi-structured interviews could be a relevant method. CONTACT Institute for Economic and Regional Research (IRER)University of NeuchâtelPierre-à-Mazel 7, 2000 Neuchâtel, SwitzerlandTel. 0041 32 718 14 71 E-mail: sonia.pellegrini@unine.ch

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