Willingness to Pay for Hair Restoration Among Balding Men

    March 2019 in “ Economic Inquiry ”
    David M. McEvoy, O. Ashton Morgan, John C. Whitehead
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    TLDR Balding men value hair restoration highly, willing to pay over $5,000 for a slight improvement.
    In the 2019 study, researchers surveyed 151 balding men from Amazon's Mechanical Turk to assess their willingness to pay for hair restoration. Participants rated their baldness using the Norwood Baldness Scale and indicated their willingness to pay for improvements in hair coverage. The findings revealed that the average willingness to pay for a one-unit improvement on the Norwood scale ranged from $5,324 to $5,812, highlighting a high valuation of hair restoration among balding men and suggesting a significant market for hair care products and potential benefits from government subsidies for hair growth technology.
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