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Measuring the value of time for methadone maintenance clients: willingness to pay, willingness to accept, and the wage rate

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  • Natalia N. Borisova

    (Wayne State University, Detroit, USA)

  • Allen C. Goodman

    (Wayne State University, Detroit, USA)

Abstract

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.

Suggested Citation

  • Natalia N. Borisova & Allen C. Goodman, 2003. "Measuring the value of time for methadone maintenance clients: willingness to pay, willingness to accept, and the wage rate," Health Economics, John Wiley & Sons, Ltd., vol. 12(4), pages 323-334.
  • Handle: RePEc:wly:hlthec:v:12:y:2003:i:4:p:323-334
    DOI: 10.1002/hec.738
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    References listed on IDEAS

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    Cited by:

    1. van den Berg, Bernard & Gafni, Amiram & Portrait, France, 2017. "Attributing a monetary value to patients' time: A contingent valuation approach," Social Science & Medicine, Elsevier, vol. 179(C), pages 182-190.
    2. Ovaskainen, Ville & Neuvonen, Marjo & Pouta, Eija, 2012. "Modelling recreation demand with respondent-reported driving cost and stated cost of travel time: A Finnish case," Journal of Forest Economics, Elsevier, vol. 18(4), pages 303-317.
    3. Daniel E. Jonas & Louise B. Russell & Jon Chou & Michael Pignone, 2010. "Willingness-to-pay to avoid the time spent and discomfort associated with screening colonoscopy," Health Economics, John Wiley & Sons, Ltd., vol. 19(10), pages 1193-1211.
    4. Nathalie Havet & Magali Morelle & Alexis Penot & Raphaël Remonnay, 2012. "The information content of the WTP-WTA gap: An empirical analysis among severely ill patients," Working Papers 1213, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
    5. Bernard van den Berg & Han Bleichrodt & Louis Eeckhoudt, 2005. "The economic value of informal care: a study of informal caregivers' and patients' willingness to pay and willingness to accept for informal care," Health Economics, John Wiley & Sons, Ltd., vol. 14(4), pages 363-376.
    6. Bernard van den Berg & Amiram Gafni & France Portrait, 2013. "Attributing a monetary value to patients’ time: A contingent valuation approach," Working Papers 090cherp, Centre for Health Economics, University of York.
    7. van den Berg, Bernard & Al, Maiwenn & Brouwer, Werner & van Exel, Job & Koopmanschap, Marc, 2005. "Economic valuation of informal care: The conjoint measurement method applied to informal caregiving," Social Science & Medicine, Elsevier, vol. 61(6), pages 1342-1355, September.
    8. Bishai, D. & Sindelar, J. & Ricketts, E.P. & Huettner, S. & Cornelius, L. & Lloyd, J.J. & Havens, J.R. & Latkin, C.A. & Strathdee, S.A., 2008. "Willingness to pay for drug rehabilitation: Implications for cost recovery," Journal of Health Economics, Elsevier, vol. 27(4), pages 959-972, July.

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