Willingness to pay for health

Rachel Baker; Cam Donaldson; Helen Mason; Michael Jones-Lee

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

Willingness to pay for health

Rachel Baker, Cam Donaldson, Helen Mason, Michael Jones-Lee

Yunus Centre

Research output: Contribution to journal › Article

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.

Original language	English
Pages (from-to)	495-501
Number of pages	7
Journal	Encyclopedia of Health Economics
Volume	3
Early online date	21 Feb 2014
DOIs	https://doi.org/10.1016/B978-0-12-375678-7.00503-4
Publication status	Published - 2014

Keywords

health economics
WTP values
public sector

Documents and Links

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

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Baker, R., Donaldson, C., Mason, H., & Jones-Lee, M. (2014). Willingness to pay for health. Encyclopedia of Health Economics, 3, 495-501. https://doi.org/10.1016/B978-0-12-375678-7.00503-4

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