ECM - École Centrale de Marseille : UMR7316 (Pôle de l'étoile - Technopole de Château-Gombert - 38 rue Frédéric Joliot-Curie - 13013 Marseille - France)
3UBC - University of British Columbia (Vancouver Campus, , 2329 West Mall, Vancouver, BC, V6T 1Z4 /
Okanagan Campus, 3333 University Way, Kelowna, BC, V1V 1V7 - Canada)
Abstract : This chapter presents an intuitive overview of the methods that researchers can use to estimate the monetary value of changes in health outcomes. These methods are separated into two categories: stated preference methods and revealed preference methods. Stated preference methods ask people how much they are willing to pay for health improvements directly using surveys of the relevant population. Revealed preference methods infer the trade-offs that people make between health and money indirectly by observing everyday behavior, such as when people accept a riskier job in return for higher wages; or when they buy products to protect their health from hazards. The chapter discusses the main advantages and disadvantages of each method.