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Revealed preference valuation compared to contingent valuation: radon-induced lung cancer prevention

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  • Christine A. Kennedy

Abstract

This paper explores and compares two tools of economic valuation, revealed preference and contingent valuation, with the purpose of ultimately informing the use of two methods of economic evaluation, CEA and CBA. The valuation methods are applied to empirical data for radon-induced lung cancer prevention. However, only the single bound CV and the subjective revealed preference estimates have overlapping confidence intervals, indicating that they do have external validity as assessed by convergent validity. The revealed preference subjective risk valuation was (£180 (£144, £247)) and the single bounded contingent valuation estimate was (£269 (£201, £343)). Copyright © 2002 John Wiley & Sons, Ltd.

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  • Christine A. Kennedy, 2002. "Revealed preference valuation compared to contingent valuation: radon-induced lung cancer prevention," Health Economics, John Wiley & Sons, Ltd., vol. 11(7), pages 585-598.
  • Handle: RePEc:wly:hlthec:v:11:y:2002:i:7:p:585-598
    DOI: 10.1002/hec.724
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    Cited by:

    1. Y Mehmet Kutluay & Richard S. J. Tol, 2015. "Valuing malaria morbidity: Results from a global metaanalysis," Working Paper Series 7615, Department of Economics, University of Sussex.
    2. Tianviwat, Sukanya & Chongsuvivatwong, Virasakdi & Birch, Stephen, 2008. "Prevention versus cure: Measuring parental preferences for sealants and fillings as treatments for childhood caries in Southern Thailand," Health Policy, Elsevier, vol. 86(1), pages 64-71, April.
    3. Mandy Ryan & Verity Watson, 2009. "Comparing welfare estimates from payment card contingent valuation and discrete choice experiments," Health Economics, John Wiley & Sons, Ltd., vol. 18(4), pages 389-401.
    4. Watson, Verity & Ryan, Mandy, 2007. "Exploring preference anomalies in double bounded contingent valuation," Journal of Health Economics, Elsevier, vol. 26(3), pages 463-482, May.
    5. Michaël Schwarzinger & Fabrice Carrat & Stéphane Luchini, 2009. ""If you have the flu symptoms, your asymptomatic spouse may better answer the willingness-to-pay question". Evidence from a double-bounded dichotomous choice model with heterogeneous anchori," Post-Print inserm-00636179, HAL.
    6. Zoë Philips & David K. Whynes & Mark Avis, 2006. "Testing the construct validity of willingness to pay valuations using objective information about risk and health benefit," Health Economics, John Wiley & Sons, Ltd., vol. 15(2), pages 195-204.
    7. Schwarzinger, Michaël & Carrat, Fabrice & Luchini, Stéphane, 2009. ""If you have the flu symptoms, your asymptomatic spouse may better answer the willingness-to-pay question": Evidence from a double-bounded dichotomous choice model with heterogeneous anchori," Journal of Health Economics, Elsevier, vol. 28(4), pages 873-884, July.
    8. Munro, Alistair, 2007. "When is some number really better than no number? On the optimal choice between non-market valuation methods," MPRA Paper 8978, University Library of Munich, Germany.

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