Measuring the value of time for methadone maintenance clients: willingness to pay, willingness to accept, and the wage rate
Three measures of the value of time - willingness to pay (WTP) for a reduction in travel time, willingness to accept (WTA) a monetary compensation to forgo it, and the wage rate - are evaluated and compared. WTP and WTA were estimated from the two-part regressions of time price, using contingent valuation methods with primary survey data. Systematic differences are found in comparisons of WTP and WTA with the wage rate. Copyright © 2002 John Wiley & Sons, Ltd.
Volume (Year): 12 (2003)
Issue (Month): 4 ()
|Contact details of provider:|| Web page: http://www3.interscience.wiley.com/cgi-bin/jhome/5749|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Smith, V. Kerry, 1997.
"Time and the Valuation of Environmental Resources,"
97-36, Duke University, Department of Economics.
- Shogren, Jason F. & Seung Y. Shin & Dermot J. Hayes & James B. Kliebenstein, 1994.
"Resolving Differences in Willingness to Pay and Willingness to Accept,"
American Economic Review,
American Economic Association, vol. 84(1), pages 255-70, March.
- Shogren, Jason F. & Shin, Seung Youll & Hayes, Dermot J. & Kliebenstein, James, 1994. "Resolving Differences in Willingness to Pay and Willingness to Accept," Staff General Research Papers Archive 701, Iowa State University, Department of Economics.
- Johannesson, Magnus & Jonsson, Bengt & Borgquist, Lars, 1991. "Willingness to pay for antihypertensive therapy -- results of a Swedish pilot study," Journal of Health Economics, Elsevier, vol. 10(4), pages 461-473.
- Wilman, Elizabeth A., 1980. "The value of time in recreation benefit studies," Journal of Environmental Economics and Management, Elsevier, vol. 7(3), pages 272-286, September.
- Gwendolyn Morrison, 1997. "Willingness to pay and willingness to accept: some evidence of an endowment effect," Applied Economics, Taylor & Francis Journals, vol. 29(4), pages 411-417.
- Jan Abel Olsen & Richard D. Smith, 2001. "Theory versus practice: a review of 'willingness-to-pay' in health and health care," Health Economics, John Wiley & Sons, Ltd., vol. 10(1), pages 39-52.
- Johannesson, Magnus & Johansson, Per-Olov & Kristrom, Bengt & Gerdtham, Ulf-G., 1993. "Willingness to pay for antihypertensive therapy -- further results," Journal of Health Economics, Elsevier, vol. 12(1), pages 95-108, April.
- Smith, V. Kerry & Mansfield, Carol, 1996.
"Buying Time: Real and Hypothetical Offers,"
96-04, Duke University, Department of Economics.
- Jan Paul Acton, 1976. "Demand for Health Care among the Urban Poor, with Special Emphasis on the Role of Time," NBER Chapters, in: The Role of Health Insurance in the Health Services Sector, pages 163-214 National Bureau of Economic Research, Inc.
- Manning, W. G. & Duan, N. & Rogers, W. H., 1987. "Monte Carlo evidence on the choice between sample selection and two-part models," Journal of Econometrics, Elsevier, vol. 35(1), pages 59-82, May.
- Cauley, Stephen Day, 1987. "The Time Price of Medical Care," The Review of Economics and Statistics, MIT Press, vol. 69(1), pages 59-66, February.
- Johansson, Per-Olov, 1997. "On the use of market prices to evaluate medical treatments," Journal of Health Economics, Elsevier, vol. 16(5), pages 609-615, October.
- Brookshire, David S & Coursey, Don L, 1987. "Measuring the Value of a Public Good: An Empirical Comparison of Elicitation Procedures," American Economic Review, American Economic Association, vol. 77(4), pages 554-66, September.
- Duan, Naihua, et al, 1983. "A Comparison of Alternative Models for the Demand for Medical Care," Journal of Business & Economic Statistics, American Statistical Association, vol. 1(2), pages 115-26, April.
- Allen C. Goodman & Miron Stano & John M. Tilford, 1999. "Household Production of Health Investment: Analysis and Applications," Southern Economic Journal, Southern Economic Association, vol. 65(4), pages 791-806, April.
When requesting a correction, please mention this item's handle: RePEc:wly:hlthec:v:12:y:2003:i:4:p:323-334. 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: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
If references are entirely missing, you can add them using this form.