Using stated preference and revealed preference modeling to evaluate prescribing decisions
The use of stated preference analyses to evaluate choice of health care products has been growing in recent years. This paper shows how revealed preference data can be enriched with stated preference data and highlights the relative advantages of revealed and stated preference data. The techniques were applied to a study of determinants of physicians' prescriptions of alcoholism medications. Analyses were conducted on the relationship between physicians' perceptions of existing alcoholism medication attributes and their prescribing rates of those medications. Analyses were also conducted on physicians' decisions to prescribe hypothetical alcoholism medications with varying attributes such as efficacy, side effects, compliance, mode of action, and price. Finally, analyses were conducted on the combined stated and revealed preference data. Joint estimation suggests that parameters from the revealed and stated preference data are equal, up to scale. Joint analyses highlight how stated preference data can be used to estimate parameters for attributes that are not observed in the marketplace, that do not vary in the marketplace, or that are highly collinear with other attributes in actual markets. Copyright © 2003 John Wiley & Sons, Ltd.
Volume (Year): 13 (2004)
Issue (Month): 6 ()
|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.:
- van der Pol, Marjon & Cairns, John, 2001. "Estimating time preferences for health using discrete choice experiments," Social Science & Medicine, Elsevier, vol. 52(9), pages 1459-1470, May.
- Klein, Noreen M & Bither, Stewart W, 1987. " An Investigation of Utility-Directed Cutoff Selection," Journal of Consumer Research, Oxford University Press, vol. 14(2), pages 240-256, September.
- Louviere,Jordan J. & Hensher,David A. & Swait,Joffre D., 2000. "Stated Choice Methods," Cambridge Books, Cambridge University Press, number 9780521788304, December.
- Hensher, David & Louviere, Jordan & Swait, Joffre, 1998. "Combining sources of preference data," Journal of Econometrics, Elsevier, vol. 89(1-2), pages 197-221, November.
- Harris, Katherine & Schultz, Jennifer & Feldman, Roger, 2002. "Measuring consumer perceptions of quality differences among competing health benefit plans," Journal of Health Economics, Elsevier, vol. 21(1), pages 1-17, January.
- Vick, Sandra & Scott, Anthony, 1998. "Agency in health care. Examining patients' preferences for attributes of the doctor-patient relationship," Journal of Health Economics, Elsevier, vol. 17(5), pages 587-605, October.
- Huber, Joel & Klein, Noreen M, 1991. " Adapting Cutoffs to the Choice Environment: The Effects of Attribute Correlation and Reliability," Journal of Consumer Research, Oxford University Press, vol. 18(3), pages 346-357, December.
- Swait, Joffre, 2001. "A non-compensatory choice model incorporating attribute cutoffs," Transportation Research Part B: Methodological, Elsevier, vol. 35(10), pages 903-928, November.
- Mandy Ryan & Jenny Hughes, 1997. "Using Conjoint Analysis to Assess Women's Preferences for Miscarriage Management," Health Economics, John Wiley & Sons, Ltd., vol. 6(3), pages 261-273.
- Stirling Bryan & Lisa Gold & Rob Sheldon & Martin Buxton, 2000. "Preference measurement using conjoint methods: an empirical investigation of reliability," Health Economics, John Wiley & Sons, Ltd., vol. 9(5), pages 385-395.
- Jane Hall & Patricia Kenny & Madeleine King & Jordan Louviere & Rosalie Viney & Angela Yeoh, 2002. "Using stated preference discrete choice modelling to evaluate the introduction of varicella vaccination," Health Economics, John Wiley & Sons, Ltd., vol. 11(5), pages 457-465.
When requesting a correction, please mention this item's handle: RePEc:wly:hlthec:v:13:y:2004:i:6:p:563-573. 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.