Gymcelled
Genetically shackled to hell
★★★★★
- Joined
- Jul 15, 2019
- Posts
- 11,131
Not a super serious study but it has interesting tit-bits
167 men were asked how much they'd be willing to pay to improve their hair coverage by a certain amount of points on the Norwood Scale.
It's kind of obvious that men are willing to pay big bucks for hair, but the idea of estimating the worth of something tied to genetics reminded me of those studies that try to quantify the worth of height with money.
"What’s the average willingness to pay to move from a glistening cue ball to a luscious mane? About $30,000"
"[...] our study allows us to estimate the average WTP (Willingness To Pay) to move from a current Bruce Willis (NW7) to a current Prince William (NW4). That value? A measly $15,960. We know what you are thinking at this point. What is the value of moving from a current Bruce Willis (NW7) to a Die Hard Bruce Willis (NW3) to a Moonlighting Bruce Willis (NW2)? The answer is $21,280 for the 7 to 3 jump and then another $5,320 for the 3 to 2 jump."
Something interesting was that they identified 2 types of behaviors among balding men looking for cure: (a) Some men are willing to disregard the price of a hair treatment and (b) Some men disregard the magnitude of the positive effect so long as it's positive (they'll take any hair gain they can get, no matter how small it is). Really shows the levels of desperation
"Another empirical concern is that balding men will behave strategically in an online survey. In a desperate attempt to mitigate hair loss some men may ignore the randomly assigned price in order to maximize the chance that this miracle product will be brought to market. Another type of response behavior might be to ignore the level of hair change; that is, these guys might not care how much of an improvement they get as long as it is positive. To consider this behavior we estimate the equality constrained latent class (ECLC) model."
Lastly the authors say that government programs don't talk about balding enough
"Some things in life money cannot buy. Unfortunately, hair is not one of them. Balding men are willing to pay considerable amounts of money for an improvement in coverage. These results have significant implications for participants in a market economy. There are obvious incentives for innovation in the hair care industry. Government subsidies toward hair growing technology programs would be welfare-enhancing. Government programs that address the causes of balding, such stress and aging, and that provide information about behaviors that could lead to balding, such as the tight ponytail and smoking, are needed."
Lastly I'll include the distribution of Norwoods among the respondents. NW 3 were by far the most common respondent.
@ReturnOfSaddam @Selinity @soymonkcel @Tenshi @Ecstasy @epillepsy
167 men were asked how much they'd be willing to pay to improve their hair coverage by a certain amount of points on the Norwood Scale.
It's kind of obvious that men are willing to pay big bucks for hair, but the idea of estimating the worth of something tied to genetics reminded me of those studies that try to quantify the worth of height with money.
"What’s the average willingness to pay to move from a glistening cue ball to a luscious mane? About $30,000"
"[...] our study allows us to estimate the average WTP (Willingness To Pay) to move from a current Bruce Willis (NW7) to a current Prince William (NW4). That value? A measly $15,960. We know what you are thinking at this point. What is the value of moving from a current Bruce Willis (NW7) to a Die Hard Bruce Willis (NW3) to a Moonlighting Bruce Willis (NW2)? The answer is $21,280 for the 7 to 3 jump and then another $5,320 for the 3 to 2 jump."
Something interesting was that they identified 2 types of behaviors among balding men looking for cure: (a) Some men are willing to disregard the price of a hair treatment and (b) Some men disregard the magnitude of the positive effect so long as it's positive (they'll take any hair gain they can get, no matter how small it is). Really shows the levels of desperation
"Another empirical concern is that balding men will behave strategically in an online survey. In a desperate attempt to mitigate hair loss some men may ignore the randomly assigned price in order to maximize the chance that this miracle product will be brought to market. Another type of response behavior might be to ignore the level of hair change; that is, these guys might not care how much of an improvement they get as long as it is positive. To consider this behavior we estimate the equality constrained latent class (ECLC) model."
Lastly the authors say that government programs don't talk about balding enough
"Some things in life money cannot buy. Unfortunately, hair is not one of them. Balding men are willing to pay considerable amounts of money for an improvement in coverage. These results have significant implications for participants in a market economy. There are obvious incentives for innovation in the hair care industry. Government subsidies toward hair growing technology programs would be welfare-enhancing. Government programs that address the causes of balding, such stress and aging, and that provide information about behaviors that could lead to balding, such as the tight ponytail and smoking, are needed."
Lastly I'll include the distribution of Norwoods among the respondents. NW 3 were by far the most common respondent.
(PDF) WILLINGNESS TOUPEE
PDF | In this paper we tackle the hairy problem of male pattern baldness. We survey balding men and elicit their willingness to pay to move from their... | Find, read and cite all the research you need on ResearchGate
www.researchgate.net
@ReturnOfSaddam @Selinity @soymonkcel @Tenshi @Ecstasy @epillepsy
Last edited: