Using discrete choice experiments to value informal care tasks: exploring preference heterogeneity
Using discrete choice experiments to value informal care tasks: exploring preference heterogeneity
Abstract While informal care is a significant part of non-market economic activity, its value is rarely acknowledged, perhaps reflecting a lack of market data. Traditional methods to value such care include opportunity and replacement cost. This study is the first to employ the discrete choice experiment methodology to value informal care tasks. A monetary value is estimated for three tasks (personal care, supervising and household tasks). The relationship between time spent on formal and informal care is also modelled and preference heterogeneity investigated using the Latent Class Model. Complementarity between supervising tasks and formal care is observed. Monetary compensation is important, with willingness to accept per hour values ranging from Ã?£0.38 to
informal care, valuation, discrete choice experiments, latent class model
930-944
Mentzakis, Emmanouil
c0922185-18c7-49c2-a659-8ee6d89b5d74
Ryan, Mandy
92290d80-9a03-4b84-a695-9b3573319e52
McNamee, Paul
ebb7a998-46dd-42e1-9579-53e48cf3350b
26 August 2011
Mentzakis, Emmanouil
c0922185-18c7-49c2-a659-8ee6d89b5d74
Ryan, Mandy
92290d80-9a03-4b84-a695-9b3573319e52
McNamee, Paul
ebb7a998-46dd-42e1-9579-53e48cf3350b
Mentzakis, Emmanouil, Ryan, Mandy and McNamee, Paul
(2011)
Using discrete choice experiments to value informal care tasks: exploring preference heterogeneity.
Health Economics, 20 (8), .
(doi:10.1002/hec.1656).
Abstract
Abstract While informal care is a significant part of non-market economic activity, its value is rarely acknowledged, perhaps reflecting a lack of market data. Traditional methods to value such care include opportunity and replacement cost. This study is the first to employ the discrete choice experiment methodology to value informal care tasks. A monetary value is estimated for three tasks (personal care, supervising and household tasks). The relationship between time spent on formal and informal care is also modelled and preference heterogeneity investigated using the Latent Class Model. Complementarity between supervising tasks and formal care is observed. Monetary compensation is important, with willingness to accept per hour values ranging from Ã?£0.38 to
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Published date: 26 August 2011
Keywords:
informal care, valuation, discrete choice experiments, latent class model
Organisations:
Economics
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Local EPrints ID: 345213
URI: http://eprints.soton.ac.uk/id/eprint/345213
ISSN: 1099-1050
PURE UUID: 2031f4c9-1aac-41f7-946d-6ff65f43c230
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Date deposited: 13 Nov 2012 14:37
Last modified: 15 Mar 2024 03:42
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Contributors
Author:
Mandy Ryan
Author:
Paul McNamee
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