Monetary analysis of health outcomes

Verity Watson, Stéphane Luchini (), Dean Regier and Rainer Schulz
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Verity Watson: University of Aberdeen
Stéphane Luchini: AMSE - Aix-Marseille Sciences Economiques - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - École Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique
Dean Regier: UBC - University of British Columbia [Canada]
Rainer Schulz: University of Aberdeen

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Abstract: This chapter presents an intuitive overview of the methods that researchers can use to estimate the monetary value of changes in health outcomes. These methods are separated into two categories: stated preference methods and revealed preference methods. Stated preference methods ask people how much they are willing to pay for health improvements directly using surveys of the relevant population. Revealed preference methods infer the trade-offs that people make between health and money indirectly by observing everyday behavior, such as when people accept a riskier job in return for higher wages; or when they buy products to protect their health from hazards. The chapter discusses the main advantages and disadvantages of each method.

Keywords: Value of a statistical life; hedonic regression; stated preference methods; contingent valuation; choice experiments (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (3)

Published in 978-0-12-812885-5. Cost-Benefit Analysis of Environmental Health Interventions, Elsevier, pp.73-93, 2020, 978-0-12-812885-5. ⟨10.1016/B978-0-12-812885-5.00004-4⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03586395

DOI: 10.1016/B978-0-12-812885-5.00004-4

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