The Intrinsic Value of the Information Contained in Medicine Leaflets

José María Abellán Perpiñán (), Jorge Eduardo Martínez Pérez (), Fernando Ignacio Sanchez Martinez and Jorge Luis Gómez Torres ()
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José María Abellán Perpiñán: Universidad de Murcia
Jorge Eduardo Martínez Pérez: Universidad de Murcia
Jorge Luis Gómez Torres: Universidad de Murcia

Hacienda Pública Española / Review of Public Economics, 2024, vol. 249, issue 2, 83-107

Abstract: This paper applies contingent valuation methodology to estimate the monetary value of the information contained in medicine leaflets. By surveying a sample of the general population, we obtain willingness-to-pay estimates of the value of providing additional quantitative information on potential benefits and side effects of a hypothetical medicine, according to the best evidence available about risk communication. The willingness-to-pay estimates found in our study ranged from 60 cents to 1 euro per month. In addition, some consistency tests of the robustness of our estimates are also presented, as well as evidence on their feasibility, reliability and validity.

Keywords: Contingent valuation; Willingness to pay; Patient information leaflets; Risk communication. (search for similar items in EconPapers)
JEL-codes: I10 I12 I18 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:hpe:journl:y:2024:v:249:i:2:p:83-107

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