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Willingness to Pay for Health

Lookup NU author(s): Emeritus Professor Michael Jones-Lee

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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.


Publication metadata

Author(s): Baker R, Donaldson C, Mason H, Jones-Lee M

Publication type: Article

Publication status: Published

Journal: Encylopedia of Health Economics

Year: 2014

Volume: 3

Pages: 495 - 501

Print publication date: 21/02/2014

Publisher: Elsevier

URL: http://dx.doi.org/10.1016/B978-0-12-375678-7.00503-4

DOI: 10.1016/B978-0-12-375678-7.00503-4

Notes: ISBN: 978-0-12-375679-4


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