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- W3124511058 abstract "Rationale: Studies that directly measure monetary values have often found a disparity between a person's willingness to pay for a good and his willingness to accept compensation to forgo the same good. It is unknown whether this disparity also occurs when one indirectly measures monetary values in a discrete choice experiment. Objectives: Our main objective was to compare willingness to accept (WTA) and willingness to pay (WTP) in a discrete choice experiment on hearing aid provision. Additionally, the impact of using a WTA and/or WTP format to elicit monetary valuations in a cost-benefit analysis of the new organization of hearing aid provision was examined. Methods: Choice sets were based on five attributes: performer of the initial assessment, accuracy of the initial assessment, duration of the pathway, follow-up at the Ear Nose and Throat (ENT) specialist, and costs. Persons with hearing complaints randomly received a WTP (costs defined as extra payment) or WTA (costs defined as discount) version of the experiment. In the versions, except for the cost attribute, all choice sets were equal. We used a fractional factorial design to reduce the number of choices to 16. As validity test a dominant pair was added. Interviews were conducted face-to-face with persons with hearing complaints visiting a hearing aid dispenser. Data were analysed using a random effects ordered probit model. Results: 300 persons agreed to complete the survey (75% response rate), equally divided over the two versions (WTA 150, WTP 150). The 291 respondents (97%) who answered the dominant pair correctly were included in the analyses. The cost coefficient was statistically significantly higher in the WTP format (ratio 2.6). Marginal WTA was statistically significantly higher than marginal WTP for the attributes accuracy and follow-up (both ratios 3.0). Implementing the new intervention would only be recommended when using WTP. Conclusions: WTA exceeds WTP, also in a discrete choice experiment. As this affects monetary valuations, it has large consequences when using the discrete choice results for a cost-benefit analysis. More research on when to use a payment or a discount in the cost attribute is needed before discrete choice results can be used in cost-benefit analyses." @default.
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- W3124511058 date "2007-06-12" @default.
- W3124511058 modified "2023-09-23" @default.
- W3124511058 title "Willingness to Accept Versus Willingness to Pay in a Discrete Choice Experiment" @default.
- W3124511058 hasPublicationYear "2007" @default.
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