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Economic valuation of informal care: the contingent valuation method applied to informal caregiving

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  • Bernard van denBerg
  • Werner Brouwer
  • Job van Exel
  • Marc Koopmanschap

Abstract

This paper reports the results of the application of the contingent valuation method (CVM) to determine a monetary value of informal care. We discuss the current practice in valuing informal care and a theoretical model of the costs and benefits related to the provision of informal care. In addition, we developed a survey in which informal caregivers' willingness to accept (WTA) to provide an additional hour of informal care was elicited. This method is better than normally recommended valuation methods able to capture the heterogeneity and dynamics of informal care. Data were obtained from postal surveys. A total of 153 informal caregivers and 149 care recipients with rheumatoid arthritis returned a completed survey. Informal caregivers reported a mean WTA to provide a hypothetical additional hour of informal care of 9.52 Euro (n=124). Many hypotheses derived from the theoretical model and the literature were supported by the data. CVM is a promising alternative for existing methods like the opportunity cost method and the proxy good method to determine a monetary value of informal care that can be incorporated in the numerator of any economic evaluation. Copyright © 2004 John Wiley & Sons, Ltd.

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  • Bernard van denBerg & Werner Brouwer & Job van Exel & Marc Koopmanschap, 2005. "Economic valuation of informal care: the contingent valuation method applied to informal caregiving," Health Economics, John Wiley & Sons, Ltd., vol. 14(2), pages 169-183.
  • Handle: RePEc:wly:hlthec:v:14:y:2005:i:2:p:169-183
    DOI: 10.1002/hec.893
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    1. repec:eee:energy:v:130:y:2017:i:c:p:365-372 is not listed on IDEAS
    2. van den Berg, Bernard & Brouwer, Werner & van Exel, Job & Koopmanschap, Marc & van den Bos, Geertrudis A.M. & Rutten, Frans, 2006. "Economic valuation of informal care: Lessons from the application of the opportunity costs and proxy good methods," Social Science & Medicine, Elsevier, vol. 62(4), pages 835-845, February.
    3. Bernard van den Berg & Ada Ferrer-i-Carbonell, 2007. "Monetary valuation of informal care: the well-being valuation method," Health Economics, John Wiley & Sons, Ltd., vol. 16(11), pages 1227-1244.
    4. Lucy Kok & Caroline Berden & Klarita Sadiraj, 2015. "Costs and benefits of home care for the elderly versus residential care: a comparison using propensity scores," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 16(2), pages 119-131, March.
    5. Emmanouil Mentzakis & Mandy Ryan & Paul McNamee, 2014. "Modelling Heterogeneity and Uncertainty in Contingent Valuation: an Application to the Valuation of Informal Care," Scottish Journal of Political Economy, Scottish Economic Society, vol. 61(1), pages 1-25, February.
    6. Renske Hoefman & Job Exel & Werner Brouwer, 2013. "How to Include Informal Care in Economic Evaluations," PharmacoEconomics, Springer, vol. 31(12), pages 1105-1119, December.
    7. Emmanouil Mentzakis & Paul McNamee & Mandy Ryan & Matthew Sutton, 2012. "Valuing Informal Care Experience: Does Choice of Measure Matter?," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 108(1), pages 169-184, August.
    8. Claudine de Meijer & Werner Brouwer & Marc Koopmanschap & Bernard van den Berg & Job van Exel, 2010. "The value of informal care-a further investigation of the feasibility of contingent valuation in informal caregivers," Health Economics, John Wiley & Sons, Ltd., vol. 19(7), pages 755-771.
    9. van den Berg, Bernard & Fiebig, Denzil G. & Hall, Jane, 2014. "Well-being losses due to care-giving," Journal of Health Economics, Elsevier, vol. 35(C), pages 123-131.
    10. Juan Oliva-Moreno & Marta Trapero-Bertran & Luz Maria Peña-Longobardo & Raúl del Pozo-Rubio, 2017. "The Valuation of Informal Care in Cost-of-Illness Studies: A Systematic Review," PharmacoEconomics, Springer, vol. 35(3), pages 331-345, March.
    11. 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.
    12. Rinaldo Brau & Matteo Lippi Bruni & Anna Maria Pinna, 2010. "Public versus private demand for covering long-term care expenditures," Applied Economics, Taylor & Francis Journals, vol. 42(28), pages 3651-3668.
    13. James Shearer & Paul McCrone & Renee Romeo, 2016. "Economic Evaluation of Mental Health Interventions: A Guide to Costing Approaches," PharmacoEconomics, Springer, vol. 34(7), pages 651-664, July.
    14. Costa-Font, Joan & Rovira-Forns, Joan, 2008. "Who is willing to pay for long-term care insurance in Catalonia?," Health Policy, Elsevier, vol. 86(1), pages 72-84, April.
    15. Hareth Al-Janabi & Nikki McCaffrey & Julie Ratcliffe, 2013. "Carer Preferences in Economic Evaluation and Healthcare Decision Making," The Patient: Patient-Centered Outcomes Research, Springer;Johns Hopkins Bloomberg School of Public Health, vol. 6(4), pages 235-239, December.
    16. van Exel, N.J.A. & Brouwer, W.B.F. & van den Berg, B. & Koopmanschap, M.A., 2006. "With a little help from an anchor: Discussion and evidence of anchoring effects in contingent valuation," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 35(5), pages 836-853, October.
    17. repec:eso:journl:v:48:y:2017:i:3:p:337-364 is not listed on IDEAS
    18. Bernard Berg & Werner Brouwer & Marc Koopmanschap, 2004. "Economic valuation of informal care," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 5(1), pages 36-45, February.
    19. 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.
    20. Riewpaiboon, Arthorn & Riewpaiboon, Wachara & Ponsoongnern, Kanyarat & Van den Berg, Bernard, 2009. "Economic valuation of informal care in Asia: A case study of care for disabled stroke survivors in Thailand," Social Science & Medicine, Elsevier, vol. 69(4), pages 648-653, August.
    21. Jane Hall & Patricia Kenny & Ishrat Hossain, 2007. "The provision of informal care in terminal illness: An analysis of carers? needs using a discrete choice experiment," Working Papers 2007/12, CHERE, University of Technology, Sydney.

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