| Original language | English |
|---|---|
| Title of host publication | Encyclopedia of Health Economics |
| Editors | Anthony J. Culyer |
| Publisher | Elsevier |
| Pages | 495-501 |
| Number of pages | 7 |
| ISBN (Print) | 9780123756794 |
| DOIs | |
| Publication status | Published - 2014 |
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.
Publication series
| Name | Encyclopedia of Health Economics |
|---|
Keywords
- health economics
- WTP values
- public sector
- benefits of health care
- contingent valuation
- revealed preference
- value of a QALY
- value of health
- value of life
- value of a prevented fatality
- willingness to pay
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Cite this
Baker, R., Donaldson, C., Mason, H., & Jones-Lee, M. (2014). Willingness to pay for health. In A. J. Culyer (Ed.), Encyclopedia of Health Economics (pp. 495-501). (Encyclopedia of Health Economics). Elsevier. https://doi.org/10.1016/B978-0-12-375678-7.00503-4