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The European Journal of Health Economics

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24.03.2017 | Original Paper

Emotions and scope effects in the monetary valuation of health

verfasst von: María V. Avilés Blanco, Raúl Brey, Jorge Araña, José Luis Pinto Prades

Erschienen in: The European Journal of Health Economics | Ausgabe 3/2018

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Abstract

This study presents evidence on the role of emotions in the monetary evaluation of health technologies, namely, drug-eluting stents (DES) in our case. It is shown that subjects who are very afraid of having to undergo an angioplasty are: (a) less sensitive to the size of the risk reduction provided by DES and (b) willing to pay more. The lack of scope sensitivity questions the normative validity of the responses of highly emotional subjects. We provide evidence of this effect using what we call the cognitive-emotional random utility model and the responses of a face-to-face, computer-assisted personal interview survey conducted in a representative sample of the Spanish general population (n = 1663).

We present the question for a 39% risk of the BMS. The question was repeated for three other risk levels.

The degree of risk reduction depends on several characteristics of the patient (e.g., diabetic or not) or of the lesion (e.g., diameter of the artery in the occluded part).

Similar conclusions in relation to our hypothesis were drawn when using only the response to the first dichotomous choice question for each of the four risk reduction levels. These results are available from the authors upon request.

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Titel: Emotions and scope effects in the monetary valuation of health
verfasst von: María V. Avilés Blanco
Raúl Brey
Jorge Araña
José Luis Pinto Prades
Publikationsdatum: 24.03.2017
Verlag: Springer Berlin Heidelberg
Erschienen in: The European Journal of Health Economics / Ausgabe 3/2018
Print ISSN: 1618-7598
Elektronische ISSN: 1618-7601
DOI: https://doi.org/10.1007/s10198-017-0885-7

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