Incorporating psycho-social considerations into health valuation: an experimental study

This study used multiple elicitation question modes and group discussions t o value psyche-social considerations associated with public perceptions of health risks. Values for saving 100 statistical lives in six different poli cy contexts varied by +/-50%, largely due to psyche-social considerations o f choice and control. A "currency effect" was found: value of Life differen tials were smaller when questions were framed directly in the currency of l ives saved rather than willingness to pay or public spending to save lives. Discussions reduced but did not eliminate inconsistencies, and slightly in creased the relative valuations of health interventions involving less choi ce and control by those at risk. (C) 2000 Elsevier Science B.V. All rights reserved. JEL classification: J17.