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A comparison of stated preference methods for estimating monetary values
1Health Economics Research Unit, Institute of Applied Health Sciences, Scotland. m.ryan@abdn.ac.uk
Health Economics
|February 26, 2004
Abstract:
This paper presents a comparison of willingness to pay (WTP) estimates generated from a dichotomous choice (DC) contingent valuation experiment and a choice experiment (CE). The study was conducted with subjects undergoing assisted reproductive techniques in the Grampian area of Scotland. Subjects first completed a DC WTP questionnaire. They were sent a CE questionnaire two months later. Welfare estimates for the DC WTP study and CE were not significantly different. Important research questions are raised concerning the validity of the various approaches to estimating WTP.