Interpretations of Utility and Their Implications for the Valuation of Health
Bibliographic Data
| ID | 9703934 |
|---|---|
| Authors | Paul Dolan (0000-0001-6180-2849, Imperial College London), Daniel Kahneman (Princeton University) |
| Year | 2008 |
| Volume | 118 |
| Issue | 525 |
| Pages | 215-234 |
| Publication date | 2008-01-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/j.1468-0297.2007.02110.x |
| OpenAlex | W1903921685 |
| Language | EN |
| Citations received | 98 |
| References cited | 71 |
The term 'utility' can be interpreted in terms of the hedonic experience of an outcome (experienced utility) or in terms of the preference or desire for that outcome (decision utility). It is this second interpretation that lies at the heart of the methods that economists have developed to value non-market goods, such as health. In this article, we argue that decision utility is unlikely to generate meaningful data on the utility associated with different experiences, and instead economists should look towards developing measures that focus more directly on experienced utility. Copyright 2008 The Author(s). Journal compilation Royal Economic Society 2008
Actuarial science · Economics · Public economics · Valuation (finance · Finance · Global Health Care Issues · Health Systems, Economic Evaluations, Quality of Life · Healthcare Policy and Management
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| Unique citing works | 98 |
|---|---|
| Citations per year | 4,9 |
| Citation span | 2006 - 2026 (21) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 97 |