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Validity of Discrete-Choice Experiments - Evidence for Health Risk Reduction

  • Harry Telser

    ()

    (Socioeconomic Institute, University of Zurich)

  • Peter Zweifel

    ()

    (Socioeconomic Institute, University of Zurich)

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    There is growing interest in discrete-choice experiments (DCE) as a method to elicit consumers' preferences in the health care sector. Increasingly this method is used to determine willingness-to-pay (WTP) for health-related goods. However, its external validity in the health care domain has not been investigated until today. This paper examines the external validity of DCE concerning the reduction of a health risk. Convergent validity is examined by comparing the value of a statistical life with other preference elicitation techniques, such as revealed preference. Criterion validity is shown by comparing WTP values derived from stated choices in the experiment with those derived from actual choices made by the same individuals. Both tests provide strong evidence in favor of external validity of the DCE method.

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    File URL: http://www.soi.uzh.ch/research/wp/2003/wp0313.pdf
    File Function: Revised version, 2005
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    Paper provided by Socioeconomic Institute - University of Zurich in its series SOI - Working Papers with number 0313.

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    Length: 21 pages
    Date of creation: Oct 2003
    Date of revision: Feb 2005
    Publication status: Published in Applied Economics 39(1), 69-78, 2007
    Handle: RePEc:soz:wpaper:0313
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    1. Dennis L. Gärtner & Daniel Halbheer, 2008. "Are There Waves in Merger Activity After All?," Working Papers 0092, University of Zurich, Institute for Strategy and Business Economics (ISU).
    2. Buehler, Stefan & Schmutzler, Armin & Benz, Men-Andri, 2004. "Infrastructure quality in deregulated industries: is there an underinvestment problem?," International Journal of Industrial Organization, Elsevier, vol. 22(2), pages 253-267, February.
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    7. Polk, Andreas & Schmutzler, Armin, 2005. "Lobbying against environmental regulation vs. lobbying for loopholes," European Journal of Political Economy, Elsevier, vol. 21(4), pages 915-931, December.
    8. Yves Schneider & Peter Zweifel, 2002. "How Much Internalization of Nuclear Risk Through Liability Insurance?," SOI - Working Papers 0211, Socioeconomic Institute - University of Zurich.
    9. Daniel Halbheer & Sarah Niggli & Armin Schmutzler, 2003. "What does it take to sell Environmental Policy? An empirical Analysis of Referendum Data," SOI - Working Papers 0304, Socioeconomic Institute - University of Zurich, revised Apr 2005.
    10. Thomas Borek & Stefan Buehler & Armin Schmutzler, 2004. "Mergers under Asymmetric Information – Is there a Lemons Problem?," SOI - Working Papers 0408, Socioeconomic Institute - University of Zurich.
    11. Yves Schneider & Peter Zweifel, 2005. "Spatial Effects in Willingness-to-Pay: The Case of Two Nuclear Risks," SOI - Working Papers 0502, Socioeconomic Institute - University of Zurich, revised Sep 2007.
    12. Mandy Ryan, 2004. "A comparison of stated preference methods for estimating monetary values," Health Economics, John Wiley & Sons, Ltd., vol. 13(3), pages 291-296.
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