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Aiding priority setting in health care: is there a role for the contingent valuation method?
Author(s) -
Olsen Jan Abel
Publication year - 1997
Publication title -
health economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.55
H-Index - 109
eISSN - 1099-1050
pISSN - 1057-9230
DOI - 10.1002/(sici)1099-1050(199711)6:6<603::aid-hec285>3.0.co;2-2
Subject(s) - respondent , contingent valuation , framing (construction) , health care , willingness to pay , valuation (finance) , ranking (information retrieval) , actuarial science , empirical evidence , limiting , public economics , economics , psychology , microeconomics , political science , computer science , accounting , mechanical engineering , philosophy , structural engineering , epistemology , machine learning , law , engineering , economic growth
The paper discusses some methodological and measurement aspects with the contingent valuation (CV) method which appear to create problems when eliciting preferences for the relative social valuation of alternative health care programmes. After pointing to biases which tend to exaggerate the true valuations, emphasis is placed on framing issues when applied to health care. Thereafter the paper discusses the extent to which preferences elicited through one's willingness to pay can be used to infer how the respondent would prioritise between the health care programmes in question. New empirical evidence is presented which suggest discrepancies between a CV ranking and the ranking expressed when making a direct ordinal comparison. © 1997 John Wiley & Sons, Ltd.