Monetary analysis of health outcomes

Verity Watson*, Stéphane Luchini, Dean Regier, Rainer Schulz

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingChapter

1 Citation (Scopus)

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.

Original languageEnglish
Title of host publicationCost-Benefit Analysis of Environmental Health Interventions
PublisherElsevier
Pages73-93
Number of pages21
ISBN (Electronic)9780128129364
ISBN (Print)9780128128855
DOIs
Publication statusE-pub ahead of print - 24 Jan 2020

Keywords

  • Choice experiments
  • Contingent valuation
  • Hedonic regression
  • Stated preference methods
  • Value of a statistical life

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