Presenter Information

Max Pollinger, Colby CollegeFollow

Location

Parker-Reed, SSWAC

Start Date

1-5-2014 10:00 AM

End Date

1-5-2014 11:00 AM

Project Type

Poster

Description

Improving biological sustainability through health and wellness improvements in the built environment is currently being applied to high-end real estate development in both the residential and commercial environment in the United States. However, the market for health and wellness extends well beyond the top income bracket. This study adopts a choice experiment (CE) approach to investigate individuals willingness to pay for health and wellness improvements within their homes. The results suggest that individuals value health as an inelastic good independent of income, and they are willing to pay significant premiums to ensure biological sustainability within their homes. In addition, individuals who exercise and individuals who have already updated their homes to be more energy efficient are willing to pay more than the other respondents of the survey.

Faculty Sponsor

Sahan Dissanayake

Sponsoring Department

Colby College. Economics Dept.

CLAS Field of Study

Social Sciences

Event Website

http://www.colby.edu/clas

ID

261

Included in

Economics Commons

Share

COinS
 
May 1st, 10:00 AM May 1st, 11:00 AM

Individuals Willingness to Pay for Health and Wellness Improvements within the Built Environment

Parker-Reed, SSWAC

Improving biological sustainability through health and wellness improvements in the built environment is currently being applied to high-end real estate development in both the residential and commercial environment in the United States. However, the market for health and wellness extends well beyond the top income bracket. This study adopts a choice experiment (CE) approach to investigate individuals willingness to pay for health and wellness improvements within their homes. The results suggest that individuals value health as an inelastic good independent of income, and they are willing to pay significant premiums to ensure biological sustainability within their homes. In addition, individuals who exercise and individuals who have already updated their homes to be more energy efficient are willing to pay more than the other respondents of the survey.

http://digitalcommons.colby.edu/clas/2014/program/280