Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/20840 
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dc.contributor.authorGroot, Wimen
dc.contributor.authorMaassen van den Brink, Henriëtteen
dc.contributor.authorPlug, Eriken
dc.date.accessioned2009-01-28T16:17:12Z-
dc.date.available2009-01-28T16:17:12Z-
dc.date.issued2002-
dc.identifier.urihttp://hdl.handle.net/10419/20840-
dc.description.abstractThis paper introduces a new method to calculate the extent to which individuals are willing to trade money for improvements in their health status. An individual welfare function of income (WFI) is applied to calculate the compensating income variation of health impairments. We believe that this approach avoids various drawbacks of alternative willingness-to-paymethods. The WFI is used to calculate the compensating variation of cardiovascular diseases. It is found that for a 25-year old male the compensating variation of a heart disease ranges from 160,000 Euro to 430,000 Euro depending on the welfare level. This is about 8,000 to 32,000 Euro for an additional life year, depending on the quality of life. The compensating variation declines with age and is lower for women than for men. Theestimates further vary by the discount rate chosen. The estimates of the compensating variation are generally higher than the money spent on heart related medical interventions per QALY.en
dc.language.isoengen
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen
dc.relation.ispartofseries|aIZA Discussion Papers |x653en
dc.subject.jelI10en
dc.subject.jelI12en
dc.subject.ddc330en
dc.subject.keywordcompensating income variationsen
dc.subject.keywordcardiovascular diseaseen
dc.subject.keywordsubjective incomeen
dc.subject.stwGesundheiten
dc.subject.stwHerzkrankheiten
dc.subject.stwKosten-Nutzen-Analyseen
dc.subject.stwKompensationslösungen
dc.subject.stwNiederlandeen
dc.titleMoney for Health: The Compensating Variation of Cardiovascular Diseases-
dc.typeWorking Paperen
dc.identifier.ppn846320207en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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