A comparison between willingness to pay and willingness to give up time |
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Authors: | Debby van Helvoort-Postulart Carmen D Dirksen Alfons G H Kessels Jos M A van Engelshoven M G Myriam Hunink |
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Institution: | (1) Department of Clinical Epidemiology and Medical Technology Assessment, University Hospital Maastricht, PO Box 5800, 6202 AZ Maastricht, The Netherlands;(2) Department of Radiology, University Hospital Maastricht and Cardiovascular Research Institute Maastricht, Maastricht, The Netherlands;(3) Department of Epidemiology and Biostatistics and Department of Radiology, Erasmus Medical Center, Rotterdam, The Netherlands;(4) Department of Health Policy and Management, Harvard School of Public Health, Boston, MA, USA |
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Abstract: | We compared the willingness-to-pay and willingness to give up time methods to assess preferences for digital subtraction angiography
(DSA), computed tomography angiography (CTA) and magnetic resonance angiography (MRA). Respondents were hypertensive patients
suspected of having renal artery stenosis. Data were gathered using telephone interviews. Both the willingness-to-pay and
willingness to give up time methods revealed that patients preferred CTA to MRA in order to avoid DSA. The agreement between
willingness-to-pay and willingness to give up time responses was high (kappa 0.65–0.85). The willingness-to-pay method yielded
relatively more protest answers (12%) as compared to willingness to give up time (2%). So, our results provided evidence for
the comparability of willingness to pay and willingness to give up time. The high percentage of protest answers on the willingness-to-pay
questions raises questions with respect to the application of the willingness-to-pay method in a broad decision-making context.
On the other hand, the strength of willingness-to-pay is that the method directly arrives at a monetary measure well founded
in economic theory, whereas the willingness to give up time method requires conversion to monetary units.
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Keywords: | Cost-benefit analysis Willingness-to-pay Utilities and preferences Health economics |
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