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Willingness to pay for a QALY

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  • Dorte Gyrd-Hansen

    (Institute of Public Health, University of Southern Denmark, Winsl�wparken, Denmark)

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    Abstract

    A willingness to pay (WTP) per quality-adjusted-life year (QALY) of DKK 88 was estimated on the basis of elicited preferences for health states. The WTP per QALY estimate presented here differs considerably from that implied in contingent valuation studies, suggesting that WTP for reducing risk of death is based on other preference structures than is ex post WTP for improvements in quality of life. Results further suggest that different preference structures may exist when respondents are faced with WTP questions in which case elimination of minor health problems are associated with negligible utility. Copyright © 2003 John Wiley & Sons, Ltd.

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    File URL: http://hdl.handle.net/10.1002/hec.799
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    Bibliographic Info

    Article provided by John Wiley & Sons, Ltd. in its journal Health Economics.

    Volume (Year): 12 (2003)
    Issue (Month): 12 ()
    Pages: 1049-1060

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    Handle: RePEc:wly:hlthec:v:12:y:2003:i:12:p:1049-1060

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    Web page: http://www3.interscience.wiley.com/cgi-bin/jhome/5749

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    1. Beggs, S. & Cardell, S. & Hausman, J., 1981. "Assessing the potential demand for electric cars," Journal of Econometrics, Elsevier, vol. 17(1), pages 1-19, September.
    2. Eugene M. Laska & Morris Meisner & Carole Siegel & Aaron A. Stinnett, 1999. "Ratio-based and net benefit-based approaches to health care resource allocation: proofs of optimality and equivalence," Health Economics, John Wiley & Sons, Ltd., vol. 8(2), pages 171-174.
    3. Bethan George & Anthony Harris & Andrew Mitchell, 2001. "Cost-Effectiveness Analysis and the Consistency of Decision Making: Evidence from Pharmaceutical Reimbursement in Australia (1991 to 1996)," PharmacoEconomics, Springer Healthcare | Adis, vol. 19(11), pages 1103-1109.
    4. Ryan, Mandy, 1999. "Using conjoint analysis to take account of patient preferences and go beyond health outcomes: an application to in vitro fertilisation," Social Science & Medicine, Elsevier, vol. 48(4), pages 535-546, February.
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    Cited by:
    1. Helen Mason & Michael Jones-Lee & Cam Donaldson, 2009. "Modelling the monetary value of a QALY: a new approach based on UK data," Health Economics, John Wiley & Sons, Ltd., vol. 18(8), pages 933-950.
    2. Bobinac, Ana & van Exel, N. Job A. & Rutten, Frans F.H. & Brouwer, Werner B.F., 2012. "GET MORE, PAY MORE? An elaborate test of construct validity of willingness to pay per QALY estimates obtained through contingent valuation," Journal of Health Economics, Elsevier, vol. 31(1), pages 158-168.
    3. Marija Bockarjova & Piet Rietveld & Erik T. Verhoef, 2012. "Composite Valuation of Immaterial Damage in Flooding: Value of Statistical Life, Value of Statistical Evacuation and Value of Statistical Injury," Tinbergen Institute Discussion Papers 12-047/3, Tinbergen Institute.
    4. Powdthavee, Nattavudh & van den Berg, Bernard, 2011. "Putting different price tags on the same health condition: Re-evaluating the well-being valuation approach," Journal of Health Economics, Elsevier, vol. 30(5), pages 1032-1043.
    5. Coskeran, Thomas & Denman, Antony & Phillips, Paul & Tornberg, Roger, 2007. "The cost-effectiveness of radon-proof membranes in new homes: A case study from Brixworth, Northamptonshire, UK," Health Policy, Elsevier, vol. 81(2-3), pages 195-206, May.
    6. Takeru Shiroiwa & Yoon-Kyoung Sung & Takashi Fukuda & Hui-Chu Lang & Sang-Cheol Bae & Kiichiro Tsutani, 2010. "International survey on willingness-to-pay (WTP) for one additional QALY gained: what is the threshold of cost effectiveness?," Health Economics, John Wiley & Sons, Ltd., vol. 19(4), pages 422-437.
    7. Andersson, Henrik & Hammitt, James & Sundström, Kristian, 2011. "Willingness to pay and QALYs: What can we learn about valuing foodborne risk?," TSE Working Papers 11-272, Toulouse School of Economics (TSE).
    8. Jose Luis Pinto Prades & Graham Loomes & Raul Brey, 2008. "Trying to estimate a monetary value for the QALY," Working Papers 08.09, Universidad Pablo de Olavide, Department of Economics.
    9. Tilling, C & Krol, M & Tsuchiya, A & Brazier, J & van Exel, J & Brouwer, W, 2009. "Measuring the value of life: exploring a new method for deriving the monetary value of a QALY," MPRA Paper 29911, University Library of Munich, Germany.
    10. Marija Bockarjova & Piet Rietveld & Erik T. Verhoef, 2012. "Composite Valuation of Immaterial Damage in Flooding: Value of Statistical Life, Value of Statistical Evacuation and Value of Statistical Injury," Tinbergen Institute Discussion Papers 12-047/3, Tinbergen Institute.
    11. Svensson, Mikael & Hultkrantz, Lars, 2012. "The Willingness to Pay for a QALY - Results based on value of statistical life estimates in Sweden," Karlstad University Working Papers in Economics 2, Department of Economics, Karlstad University.
    12. Katherine Stackelberg & James Hammitt, 2009. "Use of Contingent Valuation to Elicit Willingness-to-Pay for the Benefits of Developmental Health Risk Reductions," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 43(1), pages 45-61, May.
    13. Hammitt, James & Haninger, Kevin, 2011. "Valuing Morbidity Risk: Willingness to Pay per Quality-Adjusted Life Year," LERNA Working Papers 11.09.343, LERNA, University of Toulouse.
    14. Robinson, Angela & Gyrd-Hansen, Dorte & Bacon, Philomena & Baker, Rachel & Pennington, Mark & Donaldson, Cam, 2013. "Estimating a WTP-based value of a QALY: The ‘chained’ approach," Social Science & Medicine, Elsevier, vol. 92(C), pages 92-104.
    15. Miraldo, M & Galizzi, M & Stavropoulou, C, 2013. "In sickness but not in wealth: Field evidence on patients? risk preferences in the financial and health domain," Working Papers 12579, Imperial College, London, Imperial College Business School.

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