Measurement of consumer-patient preferences using a hybrid contingent valuation method.
This study introduces a hybrid, two-stage, contingent valuation method applied to asthma treatment. Respondents are initially offered a choice between hypothetical medications, implying a tradeoff between safety and efficacy. Stage two elicits willingness to pay (WTP) for an improvement along a single risk dimension. Estimates of the value of asthma control based on the initial risk tradeoff stage range from approximately US$1400 to US$2100 per year, assuming a US $6 million value of life. Analysis of the second-stage WTP responses yield estimates for the value of a statistical life of approximately US$9 million and for asthma control of approximately US$2200 per year.
O'Conor
R M
RM
Centre for Health Economics, Stockholm School of Economics Stockholm, Sweden.
Blomquist
G C
GC
D001249:Asthma / Q000188:drug therapy* / Q000191:economics* / Q000401:mortality; D003258:Consumer Behavior / Q000191:economics*; D017281:Cost of Illness; D016527:Drug Costs; D005260:Female; D005382:Financing, Personal; D019538:Health Care Surveys; D006801:Humans; D007182:Income; D007629:Kentucky / Q000453:epidemiology; D016015:Logistic Models; D008297:Male; D018803:Models, Economic; D017063:Outcome Assessment, Health Care / Q000191:economics; D011336:Probability; D018570:Risk Assessment; D012449:Safety; D014481:United States / Q000453:epidemiology; D026712:Value of Life