By Anthony Scott, Alan Maynard, Robert Elliott

It will be tricky to overstate the status of the authors. Many HERU alumni are one of the such a lot hugely esteemed health and wellbeing economists within the world. - Steve Morgan, college of British Columbia

it is a sequence of essays to mark the 25 anniversary of HERU. present and previous HERU employees write approximately their designated pursuits and paintings documents. This e-book addresses many present coverage concerns which exist within the Scottish (and English) nationwide wellbeing and fitness process.

  • HERU is without doubt one of the major wellbeing and fitness financial institutes within the united kingdom
  • members are all distinctive participants of the future health economics group
  • Covers quite a lot of concerns which are proper to the appliance of well-being economics now and into the long run.

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CONTINUITY OF PREFERENCES Estimation of a latent utility function implies that individuals have continuous preferences. It is from this assumption that marginal rates of substitution can be estimated. A number of issues are raised here. The first concerns current 34 ADVANCES IN HEALTH ECONOMICS methods of testing for continuous preferences. e. whether they have dominant preferences. For example, if respondents always choose the option with the best level for a particular attribute it is concluded that they are dominant with respect to this attribute.

The method also fits more closely with Kaldor–Hicks theory (Hicks 1939; Kaldor 1939). The simple rule provided by this theory is that a change should be made if the utility gains of those benefiting are greater than the utility losses of those who lose out from the change. e. e. those who prefer experimental care), assuming that costs are not under consideration. Three studies have been conducted using the marginal approach to evaluate close substitutes amongst user groups (Donaldson et al. 1997a, 1998a; Gibb et al.

1991), the problem with (health) economic theory is that very often there is little a priori guidance for researchers on what interactions or higher-order effects should be considered in a design. Selected two-way interactions, in particular, may be sufficiently important to be included if they are expected to be as, or more, significant than an individual main effect in explaining model variance. To ignore these effects or pay insufficient attention to them will undermine the model. Focus on main effects plans mirrors past practice in the environmental economics literature, but here the view is changing and it would be apposite for health economists to keep apace of these developments (Adamowicz 2001).

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