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Values and preferences are not necessarily the same

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  • Alan Shiell
  • Penelope Hawe
  • Janelle Seymour

Abstract

Economic theory typically draws no distinction between preferences and values, assumes that preferences are stable and complete and that all that need be done to elicit them is to ask the right question in the right way. It is argued here that values for some fundamental aspects of life, such as health, are not the same as preferences. The former are less differentiated and require construction and clarification before they can be elicited. The implications of this for health state valuation are discussed. © 1997 John Wiley & Sons, Ltd.

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  • Alan Shiell & Penelope Hawe & Janelle Seymour, 1997. "Values and preferences are not necessarily the same," Health Economics, John Wiley & Sons, Ltd., vol. 6(5), pages 515-518, September.
    • Handle: RePEc:wly:hlthec:v:6:y:1997:i:5:p:515-518
    DOI: 10.1002/(SICI)1099-1050(199709)6:5<515::AID-HEC292>3.0.CO;2-N
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    References listed on IDEAS

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    Cited by:

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    9. Scott, Anthony, 2002. "Identifying and analysing dominant preferences in discrete choice experiments: An application in health care," Journal of Economic Psychology, Elsevier, vol. 23(3), pages 383-398, June.
    10. Abelson, Julia & Giacomini, Mita & Lehoux, Pascale & Gauvin, Francois-Pierre, 2007. "Bringing `the public' into health technology assessment and coverage policy decisions: From principles to practice," Health Policy, Elsevier, vol. 82(1), pages 37-50, June.

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