Dolan, Paul and Kahneman, Daniel (2008) Interpretations of utility and their implications for the valuation of health. The Economic Journal, 118 (525). pp. 215-234. ISSN 0013-0133
Full text not available from this repository.Abstract
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.
| Item Type: | Article |
|---|---|
| Official URL: | http://onlinelibrary.wiley.com/journal/10.1111/(IS... |
| Additional Information: | © 2008 John Wiley & Sons, Inc. |
| Divisions: | Social Policy |
| Subjects: | R Medicine > RA Public aspects of medicine |
| Date Deposited: | 15 Feb 2011 09:48 |
| Last Modified: | 23 Nov 2024 05:36 |
| URI: | http://eprints.lse.ac.uk/id/eprint/32565 |
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