GET MORE, PAY MORE? An elaborate test of construct validity of willingness to pay per QALY estimates obtained through contingent valuation
Estimates of WTP per QALY can be taken as an indication of the monetary value of health gains, which may carry information regarding the appropriate height of the cost-effectiveness threshold. Given the far-reaching consequences choosing a particular threshold, and thus the potential relevance of WTP per QALY estimates, it is important to address the validity of these estimates. This study addresses this issue. Our findings offer little support to the validity of WTP per QALY estimates obtained in this study. Implications for general WTP per QALY estimates and further research are discussed.
|Keywords||Contingent valuation, QALY, Sensitivity to scale, Validity, WTP, Willingness to pay|
|JEL||Health: General (jel I10), General Welfare; Basic Needs; Living Standards; Quality of Life; Happiness (jel I31)|
|Persistent URL||dx.doi.org/10.1016/j.jhealeco.2011.09.004, hdl.handle.net/1765/34722|
|Journal||Journal of Health Economics|
Bobinac, A, van Exel, N.J.A, Rutten-van Mölken, M.P.M.H, & Brouwer, W.B.F. (2012). GET MORE, PAY MORE? An elaborate test of construct validity of willingness to pay per QALY estimates obtained through contingent valuation. Journal of Health Economics, 31(1), 158–168. doi:10.1016/j.jhealeco.2011.09.004