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Validity of discrete-choice experiments evidence for health risk reduction


Telser, Harry; Zweifel, Peter (2007). Validity of discrete-choice experiments evidence for health risk reduction. Applied Economics, 39(1):69-78.

Abstract

There is growing interest in discrete-choice experiment (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 now. 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 favour of external validity of the DCE method.

Abstract

There is growing interest in discrete-choice experiment (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 now. 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 favour of external validity of the DCE method.

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Additional indexing

Item Type:Journal Article, refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Economics
Dewey Decimal Classification:330 Economics
Language:English
Date:2007
Deposited On:11 Feb 2008 12:21
Last Modified:05 Apr 2016 12:17
Publisher:Taylor & Francis
ISSN:0003-6846
Additional Information:This is an electronic version of an article published in Applied Economics 2007, 39(1):69-78. Applied Economics is available online at http://www.informaworld.com/smpp/content?content=10.1080/00036840500427858
Publisher DOI:https://doi.org/10.1080/00036840500427858

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