Studies from Woosong University Add New Findings in the Area of COVID-19 (Willingness To Pay for Travel Insurance As a Risk Reduction Behavior: Health-related Risk Perception After the Outbreak of Covid-19): Coronavirus – COVID-19

NewsRx COVID-19 Daily

2022 FEB 25 (NewsRx) -- By a News Reporter-Staff News Editor at NewsRx COVID-19 Daily -- New research on Coronavirus - COVID-19 is the subject of a report. According to news originating from Daejeon, South Korea, by NewsRx correspondents, research stated, “This study aims to identify the effects of health-related risk perception and sociodemographic characteristics on the willingness to pay (WTP) for travel insurance as a risk reduction behavior following the outbreak of COVID-19.”

Our news journalists obtained a quote from the research from Woosong University, “Through the application of a double-bounded dichotomous choice contingent valuation method, this study found several determinants for travel insurance price (i.e., risk perception toward traveling, perception about the influence of COVID-19, past travel insurance purchase experience, age, and education). The mean WTP was estimated to be approximately KRW 11,700 (USD 10.23).”

According to the news editors, the research concluded: “Several theoretical and managerial implications regarding risk perception and travel insurance are discussed.”

This research has been peer-reviewed.

For more information on this research see: Willingness To Pay for Travel Insurance As a Risk Reduction Behavior: Health-related Risk Perception After the Outbreak of Covid-19. Service Business, 2022. Service Business can be contacted at: Springer Heidelberg, Tiergartenstrasse 17, D-69121 Heidelberg, Germany. (Springer - www.springer.com; Service Business - http://www.springerlink.com/content/1862-8516/)

The news correspondents report that additional information may be obtained from Hyesun Kim, Woosong University, Dept. of Hotel & Tourism Management, 171 Dongdaejeon Ro, Daejeon 34606, South Korea. Additional authors for this research include Yeongbae Choe and Youngjoon Choi.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1007/s11628-022-00479-8. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

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