Hypothetical versus real preferences: results from an opportunistic field experiment

Stirling Bryan and Sue Jowett

Health Economics, 2010, vol. 19, issue 12, 1502-1509

Abstract: Over recent years there has been renewed interest in cost‐benefit analysis (CBA) in health care but the ‘hypothetical bias’ concern (i.e. the belief that WTP values overstate real preferences) is a remaining anxiety. This paper reports new empirical data comparing hypothetical and real preferences in a health care context, using the clinical setting of patient self‐management (PSM) of anticoagulation (warfarin) therapy. The data offer considerable support for the use of WTP and CBAs in a self‐management health care context; the hypothetical bias hypothesis is not supported by our data. The generalisability of these results to other health care settings needs to be explored. Copyright © 2009 John Wiley & Sons, Ltd.

Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:wly:hlthec:v:19:y:2010:i:12:p:1502-1509

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