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Deriving welfare measures in discrete choice experiments: a comment to Lancsar and Savage (1)

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  • Mandy Ryan

    (Health Economics Research Unit, University of Aberdeen, Polwarth Building, Foresterhill, UK)

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    Abstract

    Lancsar and Savage argue that current methods of deriving welfare estimates, using discrete choice experiments, are inconsistent with random utility and welfare theory. In this paper I show that this not the case. The general formula proposed by Small and Rosen for estimating welfare, which Lancsar and Savage claim should be used, reduces to the method used by health economists for state of the world models. The important question then becomes when are state of the world models, as opposed to multiple alternative models, appropriate? Copyright © 2004 John Wiley & Sons, Ltd.

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    File URL: http://hdl.handle.net/10.1002/hec.869
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    Bibliographic Info

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

    Volume (Year): 13 (2004)
    Issue (Month): 9 ()
    Pages: 909-912

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    Handle: RePEc:wly:hlthec:v:13:y:2004:i:9:p:909-912

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

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    1. Harvey S. Rosen & Kenneth A. Small, 1979. "Applied Welfare Economics with Discrete Choice Models," NBER Working Papers 0319, National Bureau of Economic Research, Inc.
    2. Adamowicz W. & Louviere J. & Williams M., 1994. "Combining Revealed and Stated Preference Methods for Valuing Environmental Amenities," Journal of Environmental Economics and Management, Elsevier, vol. 26(3), pages 271-292, May.
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    Cited by:
    1. Arne Risa Hole, 2006. "A comparison of approaches to estimating confidence intervals for willingness to pay measures," Working Papers 008cherp, Centre for Health Economics, University of York.
    2. Rinaldo Brau & Matteo Lippi Bruni, 2006. "Eliciting the Demand for Long Term Care Coverage: A Discrete Choice Modelling Analysis," Working Papers 2006.71, Fondazione Eni Enrico Mattei.
    3. Deborah A. Marshall & F. Reed Johnson & Nathalie A. Kulin & Semra Özdemir & Judith M. E. Walsh & John K. Marshall & Stephanie Van Bebber & Kathryn A. Phillips, 2009. "How do physician assessments of patient preferences for colorectal cancer screening tests differ from actual preferences? A comparison in Canada and the United States using a stated-choice survey," Health Economics, John Wiley & Sons, Ltd., vol. 18(12), pages 1420-1439.
    4. Clark, Michael & Moro, Domenico & Szczepura, Ala, 2009. "Balancing patient preferences and clinical needs: Community versus hospital based care for patients with suspected DVT," Health Policy, Elsevier, vol. 90(2-3), pages 313-319, May.

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