Willingness-to-Pay and Demand Curves: A Comparison of Results Obtained Using Different Elicitation Formats

Health economists use "willingness-to-pay" to assess the prospective value of novel interventions. The technique remains controversial, not least with respect to the formats under which values are elicited. The paper analyses the results of a series of studies of the same intervention valued by the ... Ausführliche Beschreibung

1. Person: Whynes, David K.
Weitere Personen: Frew, Emma J. verfasserin; Wolstenholme, Jane L. verfasserin
Quelle: in International journal of health care finance and economics : the international forum for economists covering high quality, analytical research on issues in health care finance Vol. 5, No. 4 (2005), p. 369-386
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Format: Online-Artikel
Sprache: English
Veröffentlicht: 2005
Beschreibung: Online-Ressource
Schlagworte: research-article
Consumer surplus
Demand
Market research
Valuation
Optimal pricing
Willingness to pay
D12
I10
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Anmerkung: Copyright: Copyright 2005 Springer Science + Business Media, Inc.
Zusammenfassung: Health economists use "willingness-to-pay" to assess the prospective value of novel interventions. The technique remains controversial, not least with respect to the formats under which values are elicited. The paper analyses the results of a series of studies of the same intervention valued by the same population, in which different elicitation formats were employed. The findings support the hypothesis that data collected using different formats give rise to different demand curves, from which different inferences about demand elasticity, profitability and consumer surplus will be derived. Judgements as to the relative merits of rival interventions depend crucially upon whichever format has been used to evaluate each intervention.
ISSN: 1573-6962

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