Determinants and Willingness to Pay for Purchasing Mask against COVID-19: A Protection Motivation Theory Perspective

Currently, coronavirus disease 2019 (COVID-19) is spreading globally, which poses great challenges to the whole world and human beings. The aim of this research is to understand the determinants and residents’ willingness to pay (WTP) for purchasing masks against COVID-19 in China. On the basis of protection motivation theory and contingent value method, this research shows that most residents are willing to purchase masks against COVID-19. COVID-19 knowledge, perceived severity, perceived vulnerability, and response efficacy are positively and significantly associated with residents’ WTP and the WTP value. However, self-efficacy is only significantly associated with residents’ WTP while not with WTP value. Furthermore, compared with other residents, residents in Hubei province have a higher level of COVID-19 knowledge, perceived severity, perceived vulnerability, self-efficacy and response efficacy, and the WTP value is higher. The average value of residents’ WTP value for purchasing masks against COVID-19 in Hubei province is ¥120.92 ($18.73) per month during the epidemic, while it is ¥100.16 ($15.50) for other residents. In addition, the effects of demographic factors such as age, gender, income, etc., on residents’ WTP and WTP value have also been examined.