The Intrinsic Value of the Information Contained in Medicine Leaflets

This paper applies contingent valuation methodology to estimate the monetary value of the information contained in medicine leaflets. By surveying a sample of the general population, we obtain willingness-to-pay estimates of the value of providing additional quantitative information on potential ben...

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Bibliographic Details
Published in:	Hacienda pública española no. 249; pp. 83 - 107
Main Authors:	Perpiñán, José María Abellán, Pérez, Jorge Eduardo Martínez, Martínez, Fernando Ignacio Sánchez, Torres, Jorge Luis Gómez
Format:	Magazine Article
Language:	English
Published:	Madrid Instituto de Estudios Fiscales, Ministerio de Hacienda y Administraciones Publicas 01-01-2024
Subjects:	Anticoagulants Brochures Communication Contingent valuation Estimates Feasibility Leaflets Medicine Patients Questionnaires Reliability Risk communication Robustness Side effects Valuation Visual aids Willingness to pay
Online Access:	Get full text
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Summary:	This paper applies contingent valuation methodology to estimate the monetary value of the information contained in medicine leaflets. By surveying a sample of the general population, we obtain willingness-to-pay estimates of the value of providing additional quantitative information on potential benefits and side effects of a hypothetical medicine, according to the best evidence available about risk communication. The willingness-to-pay estimates found in our study ranged from 60 cents to 1 euro per month. In addition, some consistency tests of the robustness of our estimates are also presented, as well as evidence on their feasibility, reliability and validity.
ISSN:	0210-1173 2386-4176
DOI:	10.7866/HPE-RPE.24.2.4