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Monetary analysis of health outcomes

Author

Listed:
  • 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)

  • Rainer Schulz

    (University of Aberdeen)

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.

Suggested Citation

  • Verity Watson & Stéphane Luchini & Dean Regier & Rainer Schulz, 2020. "Monetary analysis of health outcomes," Post-Print hal-03586395, HAL.
    • Handle: RePEc:hal:journl:hal-03586395
    DOI: 10.1016/B978-0-12-812885-5.00004-4
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    Cited by:

    1. Dardanoni, Valentino & Guerriero, Carla, 2021. "Young people' s willingness to pay for environmental protection," Ecological Economics, Elsevier, vol. 179(C).
    2. Peter Zweifel, 2022. "Preference measurement in health using experiments," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 30(1), pages 49-66, March.

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