Use, option and externality values: are contingent valuation studies in health care mis-specified?


Smith, R; (2007) Use, option and externality values: are contingent valuation studies in health care mis-specified? Health economics. ISSN 1057-9230 DOI: 10.1002/hec.1189

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Abstract

A general population sample of Australian respondents completed a contingent valuation (CV) survey that asked them to value six scenarios. These varied according to whether the scenario was seeking to elicit: (i) use value; (ii) externality value; (iii) option value; or (iv) a combination. Results indicate that use plus externality and/or option value was significantly greater than use value alone. As CV studies in health (care) overwhelmingly focus on use value alone - often implicitly through study design rather than explicitly - this raises the possibility of mis-specification in CV research in health (care). The implications for CV in health (care) are considered. Copyright (c) 2006 John Wiley & Sons, Ltd.

Item Type: Article
Faculty and Department: Faculty of Public Health and Policy
Research Centre: Centre for Global Non-Communicable Diseases (NCDs)
PubMed ID: 17177324
Web of Science ID: 248502000007
URI: http://researchonline.lshtm.ac.uk/id/eprint/10099

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