Valuing depression using the well-being valuation approach

Daniela Andrén ()

No 2020:14, Working Papers from Örebro University, School of Business

Abstract: The continuously dramatic increase of the number of people suffering from depression attracts an increasing demand for effective ways of preventing depression. Without the need for new interventions, there is also a continuous call for a more robust framework for economic evaluation of public interventions. Taking in account people’s preferences for public goods is not straightforward to quantify, and therefore, without the importance of designing new technique for valuing nonmarket goods and services, it is equally important to use methods that are not yet established as traditional. One less used method to assess the cost of depression in monetary terms is the well-being valuation method or the life satisfaction approach, which requires answers to questions that are significantly less time demanding for the respondents than more traditional approaches to valuation. We added a well-being question to a contingent valuation web-survey that describes hypothetical interventions aimed to prevent depression and estimated that the loss in life satisfaction for individuals who directly and/or indirectly experienced depression varies between approximately 5000 and 17000 Euro per year.

Keywords: depression; subjective well-being; well-being valuation method (WVM); life satisfaction approach (LSA) (search for similar items in EconPapers)
JEL-codes: A12 D60 I31 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2020-11-11
New Economics Papers: this item is included in nep-evo, nep-hap and nep-ltv
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.oru.se/globalassets/oru-sv/institution ... s2020/wp-14-2020.pdf Full text (application/pdf)

Related works:
Journal Article: Valuing Depression Using the Well-Being Valuation Approach (2023)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hhs:oruesi:2020_014

Access Statistics for this paper

More papers in Working Papers from Örebro University, School of Business Örebro University School of Business, SE - 701 82 ÖREBRO, Sweden. Contact information at EDIRC.
Bibliographic data for series maintained by ().