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The Intrinsic Value of the Information Contained in Medicine Leaflets

Author

Listed:
  • José María Abellán Perpiñán

    (Universidad de Murcia)

  • Jorge Eduardo Martínez Pérez

    (Universidad de Murcia)

  • Fernando Ignacio Sánchez Martínez

    (Universidad de Murcia)

  • Jorge Luis Gómez Torres

    (Universidad de Murcia)

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.

Suggested Citation

  • José María Abellán Perpiñán & Jorge Eduardo Martínez Pérez & Fernando Ignacio Sánchez Martínez & Jorge Luis Gómez Torres, 2024. "The Intrinsic Value of the Information Contained in Medicine Leaflets," Hacienda Pública Española / Review of Public Economics, IEF, vol. 249(2), pages 83-107, June.
    • Handle: RePEc:hpe:journl:y:2024:v:249:i:2:p:83-107
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    More about this item

    Keywords

    Contingent valuation; Willingness to pay; Patient information leaflets; Risk communication.;
    All these keywords.

    JEL classification:

    • I10 - Health, Education, and Welfare - - Health - - - General
    • I12 - Health, Education, and Welfare - - Health - - - Health Behavior
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health

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