Estimating the monetary value of health care: lessons from environmental economics
- 25 October 2002
- journal article
- review article
- Published by Wiley in Health Economics
- Vol. 12 (1), 3-16
- https://doi.org/10.1002/hec.763
Abstract
In the recent past, considerable effort in health economics has been made on applying stated preference methods such as contingent valuation and choice experiments. Despite this increased use, there is still considerable scepticism concerning the value of these approaches. The application of contingent valuation in environmental economics has a long history and has been widely accepted. Whilst choice experiments were introduced to the environmental and health economics literature at a similar time, the wider acceptance of monetary measures of benefit in environmental economics has meant that they have also been more widely applied. The purpose of this paper is to identify some of the key issues and debates that have taken place in the environmental economics literature, summarise the state of the art with respect to these issues, and consider how health economists have addressed these issues. Important areas for future research in health economics are identified. Copyright © 2002 John Wiley & Sons, Ltd.Keywords
This publication has 60 references indexed in Scilit:
- Testing a meta-analysis model for benefit transfer in international outdoor recreationEcological Economics, 2001
- Environmental value transfer: state of the art and future prospectsEcological Economics, 1999
- Yea-Saying in Contingent Valuation SurveysLand Economics, 1999
- Non-users' Willingness to Pay for a National Park: An Application and Critique of the Contingent Valuation MethodRegional Studies, 1997
- DOES PART–WHOLE BIAS EXIST? AN EXPERIMENTAL INVESTIGATIONThe Economic Journal, 1997
- Validity of open-ended and payment scale approaches to eliciting willingness to payApplied Economics, 1997
- Ethical Beliefs and Behaviour in Contingent Valuation SurveysJournal of Environmental Planning and Management, 1996
- Preferences, information and biodiversity preservationEcological Economics, 1995
- Willingness to pay for antihypertensive therapy — results of a Swedish pilot studyJournal of Health Economics, 1991
- What Do Patients Value?Medical Care, 1985