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- Title
Willingness-to-pay and demand curves: a comparison of results obtained using different elicitation formats.
- Authors
Whynes, David K.; Frew, Emma J.; Wolstenholme, Jane L.
- Abstract
Health economists use "willingness-to-pay" to assess the prospective value of novel interventions. The technique remains controversial, not least with respect to the formats under which values are elicited. The paper analyses the results of a series of studies of the same intervention valued by the same population, in which different elicitation formats were employed. The findings support the hypothesis that data collected using different formats give rise to different demand curves, from which different inferences about demand elasticity, profitability and consumer surplus will be derived. Judgements as to the relative merits of rival interventions depend crucially upon whichever format has been used to evaluate each intervention.
- Subjects
UNITED States; MEDICAL economics; ECONOMISTS; MEDICAL care; MEDICAL care cost shifting; HEALTH services administration; MEDICAL care costs; SOCIAL scientists; COMPARATIVE studies; ECONOMICS; EXPERIMENTAL design; RESEARCH methodology; MEDICAL needs assessment; MEDICAL cooperation; RESEARCH; USER charges; EVALUATION research; PATIENTS' attitudes; STATISTICAL models
- Publication
International Journal of Health Care Finance & Economics, 2005, Vol 5, Issue 4, p369
- ISSN
1389-6563
- Publication type
journal article
- DOI
10.1007/s10754-005-4014-2