Trading-off outcomes and policy characteristics of a Universal Basic Income and a Minimum Income Guarantee: Evidence...

Area of Science:

• Health Economics
• Public Health Policy
• Behavioral Economics

Background:

• UK population health trends are worsening, necessitating effective policy interventions.
• Economic analysis traditionally focuses on maximizing health outcomes from resources (outcome utility).
• Health economics highlights the importance of how outcomes are achieved (process utility), often overlooked in public health.

Purpose of the Study:

• To explore public preferences regarding policy characteristics versus outcomes.
• To investigate trade-offs between Universal Basic Income and Minimum Income Guarantee based on these factors.
• To understand the influence of process utility on policy acceptability.

Main Methods:

• Mixed-method exploratory preference-based study.
• Benefit Trade-Off questions and qualitative interviews with 50 general public members.
• Exploration of policy characteristics (e.g., universality vs. targeting) and outcomes.

Main Results:

• A majority prioritized health and non-health outcomes over policy characteristics.
• A significant minority were influenced more by policy characteristics than outcomes.
• Qualitative data confirmed diverse public preferences and trade-offs.

Conclusions:

• Public policy decisions require considering both outcomes and process utility for resource allocation and social acceptability.
• Ignoring process utility may lead to misallocated resources and reduced policy implementation success.
• Understanding varied public preferences is crucial for designing effective and acceptable population health policies.