Valuing health care using willingness to pay: a comparison of the payment card and dichotomous choice methods
Valuing health care using willingness to pay: a comparison of the payment card and dichotomous choice methods
This paper compares willingness to pay (WTP) estimates generated from the dichotomous choice (DC) and payment card (PC) approaches. In a split-sample WTP experiment concerned with allocating scarce health care resources across three health care interventions, the DC approach is shown consistently to generate larger welfare estimates than the PC. Observed difference between PC and DC experiments cannot be explained by the inclusion of non-demanders or methods of statistical analysis but may be partly explained by "yea-saying". No evidence of range bias or mid-point bias was found with PC responses. Data were also collected on respondents' ordinal rankings of the three interventions and person-trade-offs (PTOs). Neither of these approaches converged with WTP. Future work must address the decision heuristics individuals employ when responding to valuation experiments.
Air Ambulances/economics, Attitude to Health, Bias, Cardiac Surgical Procedures/economics, Choice Behavior, Financing, Personal/statistics & numerical data, Health Services Research/methods, Humans, Models, Econometric, Neoplasms/economics, Probability, Resource Allocation, Scotland, Social Welfare, Surveys and Questionnaires
237-258
Ryan, Mandy
92290d80-9a03-4b84-a695-9b3573319e52
Scott, David A
19b5fd34-9974-4ae4-8be0-27a693639e20
Donaldson, Cam
7bed1418-f75f-4e11-aa7c-9c854163bbbb
March 2004
Ryan, Mandy
92290d80-9a03-4b84-a695-9b3573319e52
Scott, David A
19b5fd34-9974-4ae4-8be0-27a693639e20
Donaldson, Cam
7bed1418-f75f-4e11-aa7c-9c854163bbbb
Ryan, Mandy, Scott, David A and Donaldson, Cam
(2004)
Valuing health care using willingness to pay: a comparison of the payment card and dichotomous choice methods.
Journal of Health Economics, 23 (2), .
(doi:10.1016/j.jhealeco.2003.09.003).
Abstract
This paper compares willingness to pay (WTP) estimates generated from the dichotomous choice (DC) and payment card (PC) approaches. In a split-sample WTP experiment concerned with allocating scarce health care resources across three health care interventions, the DC approach is shown consistently to generate larger welfare estimates than the PC. Observed difference between PC and DC experiments cannot be explained by the inclusion of non-demanders or methods of statistical analysis but may be partly explained by "yea-saying". No evidence of range bias or mid-point bias was found with PC responses. Data were also collected on respondents' ordinal rankings of the three interventions and person-trade-offs (PTOs). Neither of these approaches converged with WTP. Future work must address the decision heuristics individuals employ when responding to valuation experiments.
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Accepted/In Press date: 11 September 2003
e-pub ahead of print date: 2 December 2003
Published date: March 2004
Keywords:
Air Ambulances/economics, Attitude to Health, Bias, Cardiac Surgical Procedures/economics, Choice Behavior, Financing, Personal/statistics & numerical data, Health Services Research/methods, Humans, Models, Econometric, Neoplasms/economics, Probability, Resource Allocation, Scotland, Social Welfare, Surveys and Questionnaires
Identifiers
Local EPrints ID: 441365
URI: http://eprints.soton.ac.uk/id/eprint/441365
ISSN: 0167-6296
PURE UUID: b97e8b71-3c82-4c0d-bf99-140e472e6079
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Date deposited: 10 Jun 2020 16:31
Last modified: 17 Mar 2024 04:02
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Author:
Mandy Ryan
Author:
David A Scott
Author:
Cam Donaldson
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