Advanced Search
MyIDEAS: Login to save this paper or follow this series

Irreversible Indifference Curves, Reference Points, and the Practice of Eliciting Preferences from the Public


Author Info

  • Gwendolyn C Morrison
Registered author(s):


    Over the last decade, evidence has accumulated in the mainstream economics literature indicating that, contrary to economic theory, indifference curves are irreversible. The methods in question - willingness to pay versus willingness to accept and standard gamble versus certainty equivalence - are frequently used by health economists. Clearly, these findings raise doubts about the results obtained using these methods. The purpose of this paper is, first, to bring such discrepancies to the attention of the health economists that employ these methods (or the health status indices obtained from these methods), and then to address some implications that these findings have on the practices of eliciting preferences regarding health and health care from the public.

    Download Info

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below under "Related research" whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Bibliographic Info

    Paper provided by Centre for Research into Industry, Enterprise, Finance and the Firm in its series CRIEFF Discussion Papers with number 9502.

    as in new window
    Date of creation: Oct 1995
    Date of revision:
    Handle: RePEc:san:crieff:9502

    Contact details of provider:
    Postal: School of Economics and Finance, University of St. Andrews, Fife KY16 9AL
    Phone: 01334 462420
    Fax: 01334 462438
    Web page:
    More information through EDIRC

    Related research

    Keywords: willingness to pay; willingness to accept; standard gamble; certainty equivalent; indifference curves;

    Find related papers by JEL classification:


    No references listed on IDEAS
    You can help add them by filling out this form.



    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.


    Access and download statistics


    When requesting a correction, please mention this item's handle: RePEc:san:crieff:9502. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Bram Boskamp).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.