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The contingent valuation method--appraising the appraisers

M Johannesson1

  • 1Centre for Health Economics, Stockholm School of Economics, Sweden.

Health Economics
|December 1, 1993
PubMed
Summary
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This paper critiques Morrison & Gyldmark's review of contingent valuation (CV) in health economics. It highlights limitations in their literature review, evaluation criteria, and premature comparisons with QALYs and HYEs.

Area of Science:

  • Health Economics
  • Health Policy Evaluation
  • Willingness to Pay Measurement

Background:

  • Morrison & Gyldmark's review examined contingent valuation (CV) for measuring willingness to pay in healthcare.
  • The review is a valuable contribution to understanding CV's role in health economics.
  • However, the appraisal by Morrison & Gyldmark has several limitations.

Discussion:

  • The paper identifies inaccuracies in Morrison & Gyldmark's literature review.
  • It critiques the limited criteria proposed for evaluating CV studies.
  • The comparison of CV with QALYs and HYEs is deemed premature and counterproductive.

Key Insights:

  • Contingent valuation (CV) is a key method for assessing willingness to pay in health economics.
  • Critique of Morrison & Gyldmark's appraisal highlights need for rigorous literature review and evaluation criteria.

Related Experiment Videos

  • Early comparison of CV with QALYs and HYEs may hinder, not clarify, economic debates.

    • Outlook:

    • Further research should refine evaluation criteria for CV studies in healthcare.
    • Clarifying the distinct roles of CV, QALYs, and HYEs is crucial for health economic policy.
    • Future work should focus on methodological advancements and appropriate application of economic valuation techniques.