TY - JOUR
T1 - Valuing informal care experience
T2 - does choice of measure matter?
AU - Mentzakis, Emmanouil
AU - McNamee, Paul
AU - Ryan, Mandy
AU - Sutton, Matthew
N1 - Copyright 2011 Elsevier B.V., All rights reserved.
PY - 2012/8/1
Y1 - 2012/8/1
N2 - Well-being equations are often estimated to generate monetary values for non-marketed activities. In such studies, utility is often approximated by either life satisfaction or General Health Questionnaire scores. We estimate and compare monetary valuations of informal care for the first time in the UK employing both measures, using longitudinal data on well-being and informal care provision. The choice of well-being measure has some effect on the estimated parameters and resulting monetary valuations, but any differences are not statistically significant. Further research is needed to confirm the comparability of these measures if researchers are to continue to use them interchangeably.
AB - Well-being equations are often estimated to generate monetary values for non-marketed activities. In such studies, utility is often approximated by either life satisfaction or General Health Questionnaire scores. We estimate and compare monetary valuations of informal care for the first time in the UK employing both measures, using longitudinal data on well-being and informal care provision. The choice of well-being measure has some effect on the estimated parameters and resulting monetary valuations, but any differences are not statistically significant. Further research is needed to confirm the comparability of these measures if researchers are to continue to use them interchangeably.
KW - informal care
KW - compensating variation
KW - subjective well-being
KW - life satisfaction
KW - GHQ
UR - http://www.scopus.com/inward/record.url?scp=79957636966&partnerID=8YFLogxK
U2 - 10.1007/s11205-011-9873-y
DO - 10.1007/s11205-011-9873-y
M3 - Article
AN - SCOPUS:84863108935
SN - 0303-8300
VL - 108
SP - 169
EP - 184
JO - Social Indicators Research
JF - Social Indicators Research
IS - 1
ER -