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Related Experiment Video

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Methods for Presenting Real-world Objects Under Controlled Laboratory Conditions

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[The willingness-to-pay concept in question].

Joaquín F Mould Quevedo¹, Iris Contreras Hernández, Juan Garduño Espinosa

¹Unidad de Investigación en Economía de la Salud, Instituto Mexicano del Seguro Social, México DF, Mexico.

Revista De Saude Publica

|February 20, 2009

Summary

Willingness to pay in health economics evaluations faces methodological challenges. Despite increased use in policy, its limitations and potential to distort findings require careful consideration for accurate health economic assessments.

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Area of Science:

Health Economics
Decision Sciences

Context:

Willingness to pay (WTP) is increasingly utilized in health economics evaluations.
Methodological concerns regarding WTP estimates are prevalent in existing literature.
The aggregation of individual preferences into aggregate demand remains a theoretical challenge.

Purpose:

To review the adequacy of willingness to pay in health economics.
To highlight methodological issues and limitations associated with WTP estimates.
To discuss the potential distorting effects of WTP on health policy decisions.

Summary:

The concept of willingness to pay (WTP) in health economics evaluations is critically examined.
Despite significant growth in WTP estimates and their policy influence over two decades, numerous methodological issues persist.
The article outlines the limitations of WTP and its potential to skew health economic assessments.

Impact:

Informs researchers and policymakers about the critical limitations of willingness to pay.
Encourages a more rigorous approach to WTP estimation and application in health policy.
Contributes to a nuanced understanding of the role and reliability of WTP in economic evaluations.