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Willingness To Pay And Its Role In Health Economics
ISSN: 2617 - 9482
Publisher: author
Willingness To Pay And Its Role In Health Economics
Indexed in
Health Sciences
ARTICLE-FACTOR
1.3
Article Basics Score: 2
Article Transparency Score: 2
Article Operation Score: 3
Article Articles Score: 3
Article Accessibility Score: 2
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International Category Code (ICC):
ICC-0702
Publisher: Bahria University Medical And Dental College
International Journal Address (IAA):
IAA.ZONE/261798859482
eISSN
:
2617 - 9482
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Abstract
Page-62providing them hypothetical market scenarios to documenttheir responses5,6. Morris explains that the theoretical basisof stated preference is psychological which is often disagreedby extreme views associated with Austrian economics whichstate that choices in real market have relevance to economicanalysis. However, most economists have the view thatstated preference or willingness to pay is acceptable methodif inclined with the aims of economic analysis. Olsen explainsthat one of the greatest challenges for publicly financedhealth services is the setting of priorities among competinghealthcare programs. He further comments that non- healthbenefits derived from healthcare beyond the benefit derivedfrom health outcome are important to acknowledge ineconomic evaluations. To capture such non-health benefitsderived from healthcare WTP becomes more appropriatethan just a Quality Adjusted Life Year calculated in costutility analysis7.T...
