Willingness to pay for health

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

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 languageEnglish
Pages (from-to)495-501
Number of pages7
JournalEncyclopedia of Health Economics
Volume3
Early online date21 Feb 2014
DOIs
Publication statusPublished - 2014

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Willingness-to-pay
Health
Contingent valuation
Rationale
Public sector

Keywords

  • health economics
  • WTP values
  • public sector

Cite this

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
Baker, Rachel ; Donaldson, Cam ; Mason, Helen ; Jones-Lee, Michael. / Willingness to pay for health. In: Encyclopedia of Health Economics. 2014 ; Vol. 3. pp. 495-501.
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Baker, R, Donaldson, C, Mason, H & Jones-Lee, M 2014, 'Willingness to pay for health', Encyclopedia of Health Economics, vol. 3, pp. 495-501. https://doi.org/10.1016/B978-0-12-375678-7.00503-4

Willingness to pay for health. / Baker, Rachel; Donaldson, Cam; Mason, Helen; Jones-Lee, Michael.

In: Encyclopedia of Health Economics, Vol. 3, 2014, p. 495-501.

Research output: Contribution to journal › Article

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AU - Mason, Helen

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N2 - 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.

AB - 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.

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KW - WTP values

KW - public sector

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

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