To pay or not to pay? The impact of the price attribute in choice experiments
Discrete choice experiments (DCEs) commonly include a price attribute to generate willingness to pay (WTP) estimates. Concern has been expressed that the inclusion of a price attribute challenges the credibility of the experiment when valuing aspects of publicly funded healthcare systems. However, very little research has explored this issue. We allocated subjects across two versions of a DCE: one including a monetary attribute and the other excluding a monetary attribute. The DCE was identical in all other respects. Analysis is ongoing.
HERU researchers involved in this research project: Mandy Ryan
External Collaborator: M. Genie (University of Venice) and N. Krucien (Evidera)
Krucien, N. and Ryan, M. (2019) 'To pay or not to pay? Investigating the impact of a fake monetary attribute on stated preferences', International Health Economics Association (iHEA) 2019 Congress: New Heights in Health Economics, University of Basel, Basel, Switzerland, 13-17 July 2019.