Abstract
Both the lack of market data and the need to adopt a more holistic approach in the valuation of non-market activities within health care have pointed towards the use of contingent valuation (CV) methods. However, to date, few studies have employed such techniques to value informal care, despite its provision being an important public policy question. We propose an analytical framework that through the use of random parameters models and respondents' certainty scales can incorporate both unobserved and observed heterogeneity in the CV modelling. This is the first CV study of informal care for Scotland (UK) and a £7.68 per hour value is estimated.
Original language | English |
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Pages (from-to) | 1-25 |
Number of pages | 25 |
Journal | Scottish Journal of Political Economy |
Volume | 61 |
Issue number | 1 |
Early online date | 2 Dec 2013 |
DOIs | |
Publication status | Published - Feb 2014 |
Keywords
- carers
- contingent valuation
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Dive into the research topics of 'Modelling Heterogeneity and Uncertainty in Contingent Valuation: an Application to the Valuation of Informal Care'. Together they form a unique fingerprint.Profiles
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Paul McNamee
Person: Academic
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Mandy Ryan
- School of Medicine, Medical Sciences & Nutrition, Health Economics Research Unit - Director of H E R U
- Institute of Applied Health Sciences
Person: Academic