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Willingness to Pay for Health

Authors
Publisher
Elsevier Inc.
Identifiers
DOI: 10.1016/b978-0-12-375678-7.00503-4
Keywords
  • Benefits Of Health Care
  • Contingent Valuation
  • Revealed Preference
  • Value Of A Qaly
  • Value Of Health
  • Value Of Life
  • Value Of A Prevented Fatality
  • Willingness To Pay
Disciplines
  • Economics

Abstract

Abstract The valuation of health in monetary terms can be estimated by observing real choices or by eliciting willingness to pay (WTP) through presentation of hypothetical choices to respondents (contingent valuation). Contingent valuation is commonly used in other areas of the public sector and its use is growing in health. In this article, the authors outline the rationale for such monetary valuation via WTP measurement before going on to discuss challenges associated with different approaches and provide examples from some recent case studies of how such monetary measurement has been achieved.

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