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 individual’s willingness to pay (WTP) 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 independent of household income.
"Individuals Willingness to Pay for Health and Wellness in the Built Environment,"
Journal of Environmental and Resource Economics at Colby: Vol. 01
, Article 5.
Available at: http://digitalcommons.colby.edu/jerec/vol01/iss01/5