Equivalent income and the economic evaluation of health care
We argue that the economic evaluation of health care (cost-benefit analysis) should respect individual preferences and should incorporate distributional consid- erations. Relying on individual preferences does not imply subjective welfarism. We propose a particular non- welfarist approach, based on the concept of equivalent income, and show how it helps to define distributional weights. We illustrate the feasibility of our approach with empirical results from a pilot survey.
|Date of creation:||01 Jan 2010|
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