Public versus private demand for covering long-term care expenditures
This article studies the determinants of the Willingness to Pay (WTP) for Long-Term Care (LTC) insurance coverage. Two alternatives are considered: one compulsory, financed through taxes, the other purchased on a voluntary basis and paid through a premium. WTP was elicited through open-ended contingent valuation within a survey conducted in the Italian region Emilia-Romagna about LTC population needs. We model information on individual WTP as a two-stage process, where respondents first establish their interest for LTC cover, then state their WTP. Results show that interest and WTP are influenced by different variables, and that differences arise also between the WTP for public and private coverage.
Year of publication: |
2010
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Authors: | Brau, Rinaldo ; Bruni, Matteo Lippi ; Pinna, Anna Maria |
Published in: |
Applied Economics. - Taylor & Francis Journals, ISSN 0003-6846. - Vol. 42.2010, 28, p. 3651-3668
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Publisher: |
Taylor & Francis Journals |
Saved in:
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