Revealed preference valuation compared to contingent valuation: radon-induced lung cancer prevention.
This paper explores and compares two tools of economic valuation, revealed preference and contingent valuation, with the purpose of ultimately informing the use of two methods of economic evaluation, CEA and CBA. The valuation methods are applied to empirical data for radon-induced lung cancer prevention. However, only the single bound CV and the subjective revealed preference estimates have overlapping confidence intervals, indicating that they do have external validity as assessed by convergent validity. The revealed preference subjective risk valuation was (180 pounds sterling (144 pounds sterling, 247 pounds sterling)) and the single bounded contingent valuation estimate was (269 pounds sterling (201 pounds sterling, 343 pounds sterling)).
D000396:Air Pollutants, Radioactive / Q000191:economics / Q000528:radiation effects*; D003362:Cost-Benefit Analysis / Q000379:methods*; D004739:England; D005191:Family Characteristics; D005382:Financing, Personal; D006801:Humans; D008175:Lung Neoplasms / Q000191:economics* / Q000209:etiology / Q000517:prevention & control; D009381:Neoplasms, Radiation-Induced / Q000191:economics* / Q000517:prevention & control; D017060:Patient Satisfaction / Q000191:economics*; D011886:Radon / Q000191:economics / Q000528:radiation effects*; D040242:Risk Reduction Behavior; D011795:Surveys and Questionnaires; D026712:Value of Life / Q000191:economics*
D000396:Air Pollutants, Radioactive; D011886:Radon