We provide a new test of the feasibility of using contingent valuation to value informal care. We start with a theoretical model of informal caregiving and derive that willingness to pay depends positively on wealth and negatively on own health, whereas the effect of other's health is sign-ambiguous
Measuring the value of time for methadone maintenance clients: willingness to pay, willingness to accept, and the wage rate
β Scribed by Natalia N. Borisova; Allen C. Goodman
- Publisher
- John Wiley and Sons
- Year
- 2003
- Tongue
- English
- Weight
- 141 KB
- Volume
- 12
- Category
- Article
- ISSN
- 1057-9230
- DOI
- 10.1002/hec.738
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β¦ Synopsis
Abstract
Three measures of the value of time β willingness to pay (WTP) for a reduction in travel time, willingness to accept (WTA) a monetary compensation to forgo it, and the wage rate β are evaluated and compared. WTP and WTA were estimated from the twoβpart regressions of time price, using contingent valuation methods with primary survey data. Systematic differences are found in comparisons of WTP and WTA with the wage rate. Copyright Β© 2002 John Wiley & Sons, Ltd.
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