Mentzakis, Emmanouil, Ryan, Mandy and McNamee, Paul
Using discrete choice experiments to value informal care tasks: exploring preference heterogeneity
Health Economics, 20, (8), . (doi:10.1002/hec.1656).
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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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