Threats to the estimation of benefit: are preference elicitation methods accurate?

@article{Lloyd2003ThreatsTT,
  title={Threats to the estimation of benefit: are preference elicitation methods accurate?},
  author={Andrew Lloyd},
  journal={Health economics},
  year={2003},
  volume={12 5},
  pages={393-402}
}
Stated preference methods are used to estimate the value that people place on health care. The data that emerges from these studies is used to guide health policy. However, relatively little is known about how individuals make decisions in a preference elicitation task. Two methods (willingness to pay and conjoint analysis) are considered within the context of the literature from psychology (and also environmental economics) regarding how people construct preferences, process information, and… CONTINUE READING