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Nonparametric willingness-to-pay measures and confidence statements

M Tambour1, N Zethraeus

  • 1Stockholm School of Economics, Sweden. hemt@hhs.se

Medical Decision Making : an International Journal of the Society for Medical Decision Making
|July 29, 1998
PubMed
Summary

This study introduces a new bootstrap method for estimating willingness to pay (WTP) in healthcare economic evaluations. The nonparametric approach provides reliable confidence intervals, showing higher WTP for severe menopausal symptoms.

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Area of Science:

  • Health Economics
  • Biostatistics

Background:

  • Willingness to pay (WTP) is crucial for healthcare program valuation.
  • Nonparametric methods offer advantages over parametric approaches in contingent valuation (CV) studies.
  • Existing nonparametric methods lack clear procedures for statistical testing and confidence interval estimation.

Purpose of the Study:

  • To propose a bootstrap-based procedure for statistical inference on WTP estimates from nonparametric CV models.
  • To enable hypothesis testing and confidence interval estimation for mean WTP across different subgroups.
  • To address limitations in existing nonparametric approaches for WTP analysis.

Main Methods:

  • A novel bootstrap technique was developed for nonparametric WTP estimation.
  • The method was applied to contingent valuation data for hormone replacement therapy.

Related Experiment Videos

  • Confidence intervals and hypothesis tests were generated using the proposed bootstrap procedure.

    • Main Results:

    • The bootstrap procedure was successfully implemented with low computational cost.
    • Mean WTP was estimated for the full sample and stratified by menopausal symptom severity.
    • A significantly higher mean WTP was observed in women with severe menopausal symptoms compared to those with mild symptoms.

    Conclusions:

    • The proposed bootstrap method provides a practical and statistically sound approach for WTP estimation in nonparametric CV studies.
    • This method facilitates robust comparisons of WTP across different population subgroups.
    • Findings highlight the economic value of hormone replacement therapy, particularly for women with severe menopausal symptoms.