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Measuring Heart Patients' Willingness to Pay for Changes in Angina Symptoms

Author

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  • Lauraine G. Chestnut
  • L. Robin Keller
  • William E. Lambert
  • Robert D. Rowe

Abstract

Willingness-to-pay (WTP) measures of the effects of changes in health on a person's welfare are more comprehensive than traditional cost-of-illness (COI) measures, but they are some times difficult to obtain. The authors investigated two approaches for measuring heart pa tients' WTP for changes in their angina symptoms. First, actual expenditures and perceived angina episodes avoided were used to infer an averting-behavior measurement of WTP. Second, a contingent-valuation approach was used to ask direct WTP questions regarding a hypothetical medical treatment that could be purchased to avoid additional angina episodes. The results indicated that although negligible COI changes were expected with small changes in angina frequency, the subjects had significant WTP to avoid increases in angina. The average WTP to avoid additional angina episodes revealed by the averting-behavior ques tions was comparable to the directly-elicited WTP, providing a test of the validity of the contingent-valuation approach. Key words: willingness to pay; contingent valuation; cost of illness; cost-benefit analysis; averting behavior; angina symptoms, welfare effects. (Med Decis Making 1996;16:65-77)

Suggested Citation

  • Lauraine G. Chestnut & L. Robin Keller & William E. Lambert & Robert D. Rowe, 1996. "Measuring Heart Patients' Willingness to Pay for Changes in Angina Symptoms," Medical Decision Making, , vol. 16(1), pages 65-76, February.
    • Handle: RePEc:sae:medema:v:16:y:1996:i:1:p:65-76
    DOI: 10.1177/0272989X9601600115
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    References listed on IDEAS

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    4. George Van Houtven & John Powers & Amber Jessup & Jui‐Chen Yang, 2006. "Valuing avoided morbidity using meta‐regression analysis: what can health status measures and QALYs tell us about WTP?," Health Economics, John Wiley & Sons, Ltd., vol. 15(8), pages 775-795, August.
    5. Galina Williams, 2015. "Households Willingness to Pay for the Emissions Reduction Policy, Queensland, Australia," SAGE Open, , vol. 5(3), pages 21582440156, September.
    6. Tilling, C & Krol, M & Tsuchiya, A & Brazier, J & van Exel, J & Brouwer, W, 2009. "Measuring the value of life: exploring a new method for deriving the monetary value of a QALY," MPRA Paper 29911, University Library of Munich, Germany.
    7. Dr Clevo I. Wilson, 1999. "A WTP Model Showing the Relationships Between Three Approaches For Pollution," Discussion Papers Series 268, School of Economics, University of Queensland, Australia.
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    10. Alan Diener & Bernie O'Brien & Amiram Gafni, 1998. "Health care contingent valuation studies: a review and classification of the literature," Health Economics, John Wiley & Sons, Ltd., vol. 7(4), pages 313-326, June.
    11. Wagner, Todd H. & Hu, Teh-wei & Duenas, Grace V. & Pasick, Rena J., 2000. "Willingness to pay for mammography: item development and testing among five ethnic groups," Health Policy, Elsevier, vol. 53(2), pages 105-121, September.
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    13. George L. Van Houtven & Subhrendu K. Pattanayak & V. Kerry Smith, 2004. "Benefit Transfer Functions for Avoided Morbidity: A Preference Calibration Approach," NCEE Working Paper Series 200404, National Center for Environmental Economics, U.S. Environmental Protection Agency, revised Apr 2004.
    14. Olsen, Jan Abel & Donaldson, Cam & Pereira, Joao, 2004. "The insensitivity of 'willingness-to-pay' to the size of the good: New evidence for health care," Journal of Economic Psychology, Elsevier, vol. 25(4), pages 445-460, August.
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