Deriving welfare measures from discrete choice experiments: inconsistency between current methods and random utility and welfare theory.

@article{Lancsar2004DerivingWM,
  title={Deriving welfare measures from discrete choice experiments: inconsistency between current methods and random utility and welfare theory.},
  author={Emily Lancsar and Elizabeth M Savage},
  journal={Health economics},
  year={2004},
  volume={13 9},
  pages={901-7}
}
Discrete choice experiments (DCEs) are being used increasingly in health economics to elicit preferences for products and programs. The results of such experiments have been used to calculate measures of welfare or more specifically, respondents' 'willingness to pay' (WTP) for products and programs and their 'marginal willingness to pay' (MWTP) for the attributes that make up such products and programs. In this note we show that the methods currently used to derive measures of welfare from DCEs… CONTINUE READING

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