The relationship between reliability and size of willingness-to-pay values: a qualitative insight


Smith, RD; (2007) The relationship between reliability and size of willingness-to-pay values: a qualitative insight. Health economics, 16 (2). pp. 211-6. ISSN 1057-9230 DOI: https://doi.org/10.1002/hec.1155

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Abstract

In a previous paper, the reliability of willingness-to-pay (WTP) values was found to be an increasing function of the size of WTP expressed. Here, the results of a qualitative exercise conducted alongside this quantitative study are presented. The results of this exercise suggest that higher WTP values may require more thought from the respondent which, in turn, gives them greater stability. At low levels of WTP, values appear to be taken from a 'discretionary account', where expenditure is more volatile. Caveats to this result, and suggestions for future research, are considered in the discussion. Copyright (c) 2006 John Wiley & Sons, Ltd.

Item Type: Article
Keywords: Adult, Attitude to Health, Budgets, Choice Behavior, Consumer Satisfaction, economics, Cost-Benefit Analysis, Financing, Personal, statistics & numerical data, Humans, Income, statistics & numerical data, Interviews, Qualitative Research, Reproducibility of Results, Value of Life, economics, Victoria
Faculty and Department: Faculty of Public Health and Policy
Research Centre: Centre for Global Non-Communicable Diseases (NCDs)
PubMed ID: 16929470
Web of Science ID: 244233500008
URI: http://researchonline.lshtm.ac.uk/id/eprint/10096

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