If the price is right : vagueness and values clarification in contingent valuation

Shiell, Alan and Gold, Lisa 2003, If the price is right : vagueness and values clarification in contingent valuation, Health economics, vol. 12, no. 11, pp. 909-919.

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Title If the price is right : vagueness and values clarification in contingent valuation
Author(s) Shiell, Alan
Gold, Lisa
Journal name Health economics
Volume number 12
Issue number 11
Start page 909
End page 919
Publisher John Wiley & Sons Ltd
Place of publication Bognor Regis, England
Publication date 2003
ISSN 1057-9230
1099-1050
Keyword(s) willingness to pay
completeness
vagueness
values clarification
Summary The use of willingness to pay to value the benefits of health care is increasing. Much of this work assumes that health preferences are well formed or complete and readily revealed if the right question is asked in the right way. We examined this assumption, seeking evidence in a mixed-methods study that explored the meaning and implications of vague responses to a payment-scale based willingness to pay exercise.

One-half of the sample said that their vagueness meant that their maximum willingness to pay was actually greater than the amount that they had previously said it was. Thirty percent agreed that they would probably pay £10 more than a sum that they had previously said they would most definitely not pay, if they found this to be the cost of the vaccine. Interview data supported the view that the payment scale had failed to elicit the maximum willingness to pay and that some participants used the information on cost to help clarify their values, in contrast to the theory underpinning willingness to pay. The results suggest a need to consider values-clarification in health economic evaluations. Copyright © 2002 John Wiley & Sons, Ltd.
Notes Published Online: Dec 10 2002
Language eng
Field of Research 140208 Health Economics
HERDC Research category C1.1 Refereed article in a scholarly journal
Copyright notice ©2002, John Wiley & Sons, Ltd.
Persistent URL http://hdl.handle.net/10536/DRO/DU:30006549

Document type: Journal Article
Collection: Faculty of Health
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