Jove
Visualize
Contact Us
JoVE
x logofacebook logolinkedin logoyoutube logo
ABOUT JoVE
OverviewLeadershipBlogJoVE Help Center
AUTHORS
Publishing ProcessEditorial BoardScope & PoliciesPeer ReviewFAQSubmit
LIBRARIANS
TestimonialsSubscriptionsAccessResourcesLibrary Advisory BoardFAQ
RESEARCH
JoVE JournalMethods CollectionsJoVE Encyclopedia of ExperimentsArchive
EDUCATION
JoVE CoreJoVE BusinessJoVE Science EducationJoVE Lab ManualFaculty Resource CenterFaculty Site
Terms & Conditions of Use
Privacy Policy
Policies

Related Concept Videos

The Availability Heuristic01:08

The Availability Heuristic

A heuristic is a general problem-solving framework (Tversky & Kahneman, 1974). You can think of these as mental shortcuts that are used to solve problems. Different types of heuristics are used in different types of situations, and the impulse to use a heuristic occurs when one of five conditions is met (Pratkanis, 1989):
Framing Effects03:26

Framing Effects

Information is everywhere and its presentation—such as how and when items are presented—can impact our perceptions and decisions surrounding the info. This broad concept umbrellas framing effects—influences that occur due to the way information is framed in its appearance, whether it’s purely the order or the specific wording of a message. Let’s take a look at numerous ways in which two versions of something can objectively say the same thing, yet we respond in different ways based on the...
Pharmacokinetic–Pharmacodynamic Relationship: Influence of Elimination Half-Life on Effect Duration01:23

Pharmacokinetic–Pharmacodynamic Relationship: Influence of Elimination Half-Life on Effect Duration

Drug elimination from the body primarily occurs through metabolic and excretion pathways. Hepatic metabolism transforms lipophilic drugs into hydrophilic forms for excretion, typically via enzymatic processes classified as phase I (modification) and phase II (conjugation). Renal excretion eliminates drugs and metabolites through filtration and secretion in the kidneys. Impairment in liver or kidney function can hinder these processes, delaying drug clearance and extending the drug’s half-life.
Chronopharmacokinetics: Circadian Rhythms and Influence on Drug Response01:15

Chronopharmacokinetics: Circadian Rhythms and Influence on Drug Response

Circadian rhythms are cyclic changes that are crucial in plasma drug concentrations. Various standard circadian parameters, including core body temperature, heart rate, and other cardiovascular factors, directly impact disease states and the therapeutic response to drug therapy.
The time of drug administration is an important factor to consider, as it can influence the toxic dose of a drug. For example, a study conducted by Prins et al. in 1997 examined the effects of the timing of...
Chronopharmacokinetics: Time-Dependent Pharmacokinetics01:20

Chronopharmacokinetics: Time-Dependent Pharmacokinetics

Chronopharmacokinetics studies the temporal change in drug absorption and elimination. These changes can be cyclical or non-cyclical. Cyclical changes occur over a regular interval, while non-cyclical changes occur over a longer, irregular period.
Time-dependent pharmacokinetics refers to non-cyclical changes in drug rate processes over a period of time. It can lead to nonlinear pharmacokinetics, where the relationship between drug concentration and time is not proportional. Non-cyclical...
Regression Toward the Mean01:52

Regression Toward the Mean

Regression toward the mean (“RTM”) is a phenomenon in which extremely high or low values—for example, and individual’s blood pressure at a particular moment—appear closer to a group’s average upon remeasuring. Although this statistical peculiarity is the result of random error and chance, it has been problematic across various medical, scientific, financial and psychological applications. In particular, RTM, if not taken into account, can interfere when researchers try to extrapolate results...

You might also read

Related Articles

Articles linked to this work by shared authors, journal, and citation graph.

Sort by
Same author

Evaluating hospital performance.

The European journal of health economics : HEPAC : health economics in prevention and care·2026
Same author

The labor and health economics of breast cancer.

Journal of health economics·2026
Same author

When women take over: Physician gender and health care provision.

Journal of health economics·2025
Same author

Influence of prior knowledge and experience on willingness to pay for home hospice services: a contingent valuation study.

International journal of health economics and management·2025
Same author

A hard pill to swallow? Parental health shocks and children's mental health.

Health economics·2023
Same author

Looking into the black box of "Medical Innovation": rising health expenditures by illness type.

The European journal of health economics : HEPAC : health economics in prevention and care·2022

Related Experiment Video

Updated: May 10, 2026

Measuring Delay Discounting in Humans Using an Adjusting Amount Task
07:47

Measuring Delay Discounting in Humans Using an Adjusting Amount Task

Published on: January 9, 2016

Timing effects in health valuations.

Andrea M Leiter1, Gerald J Pruckner

  • 1Department of Economics and Statistics, University of Innsbruck, Innsbruck, Austria.

Health Economics
|June 19, 2013
PubMed
Summary

Individual willingness to pay (WTP) for reduced mortality risk is influenced by recent fatal accident frequency. Findings suggest risk attitudes vary seasonally, impacting WTP for risk reduction.

Area of Science:

  • Environmental Science
  • Risk Analysis
  • Behavioral Economics

Background:

  • Individual willingness to pay (WTP) for risk reduction is a key metric in environmental and health economics.
  • Understanding how external information, such as the frequency of risky events, influences WTP is crucial for accurate risk assessment.
  • Mortality risks often exhibit temporal variations, necessitating the study of their impact on economic valuations.

Purpose of the Study:

  • To analyze the impact of time-varying external information, specifically the frequency of fatal accidents, on individual willingness to pay for mortality risk reduction.
  • To investigate whether individual WTP for risk reduction differs between periods with varying levels of perceived risk.
  • To assess the influence of seasonal risk variations on WTP using snow avalanche accidents as a case study.
Keywords:
contingent valuationmortality riskrisk preventionwillingness to pay

More Related Videos

The Joint Effect of Social Comparison and Social Distance on Evaluation of Intertemporal Choice Outcomes in Event-related Potential Studies
08:24

The Joint Effect of Social Comparison and Social Distance on Evaluation of Intertemporal Choice Outcomes in Event-related Potential Studies

Published on: August 25, 2023

Errors as a Means of Reducing Impulsive Food Choice
07:07

Errors as a Means of Reducing Impulsive Food Choice

Published on: June 5, 2016

Related Experiment Videos

Last Updated: May 10, 2026

Measuring Delay Discounting in Humans Using an Adjusting Amount Task
07:47

Measuring Delay Discounting in Humans Using an Adjusting Amount Task

Published on: January 9, 2016

The Joint Effect of Social Comparison and Social Distance on Evaluation of Intertemporal Choice Outcomes in Event-related Potential Studies
08:24

The Joint Effect of Social Comparison and Social Distance on Evaluation of Intertemporal Choice Outcomes in Event-related Potential Studies

Published on: August 25, 2023

Errors as a Means of Reducing Impulsive Food Choice
07:07

Errors as a Means of Reducing Impulsive Food Choice

Published on: June 5, 2016

Main Methods:

  • A contingent valuation (CV) exercise was conducted in two distinct periods (fall and winter) to capture seasonal differences.
  • Data collection focused on fatal snow avalanche accidents, a risk with known seasonal patterns.
  • Statistical analysis was employed to compare mean WTP figures between the fall and winter samples.

Main Results:

  • A statistically significant difference in mean WTP was observed between the two sampling periods.
  • Individuals exhibited slightly lower mean WTP for mortality risk reduction during the winter compared to the fall.
  • This variation is attributed to time-varying individual risk attitudes influenced by the perceived frequency of fatal events.

Conclusions:

  • The frequency of risky events, particularly those with seasonal variations, significantly impacts individual willingness to pay for risk reduction.
  • Individual risk attitudes are not static and can change based on temporal information, affecting economic valuations of risk.
  • It is recommended to control for time-varying risk attitudes and information in contingent valuation surveys for more accurate risk assessment.