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Prices need no preferences: social trends determine decisions in experimental markets for pain relief.

Vlaev, I and Seymour, B and Chater, N and Winston, JS and Yoshida, W and Wright, N and Symmonds, M and Dolan, R (2014) Prices need no preferences: social trends determine decisions in experimental markets for pain relief. Health Psychol, 33. pp. 66-76.

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Abstract

A standard view in health economics is that, although there is no market that determines the "prices" for health states, people can nonetheless associate health states with monetary values (or other scales, such as quality adjusted life year [QALYs] and disability adjusted life year [DALYs]). Such valuations can be used to shape health policy, and a major research challenge is to elicit such values from people; creating experimental "markets" for health states is a theoretically attractive way to address this. We explore the possibility that this framework may be fundamentally flawed-because there may not be any stable values to be revealed. Instead, perhaps people construct ad hoc values, influenced by contextual factors, such as the observed decisions of others.

Item Type: Article
Uncontrolled Keywords: Adult Commerce Consumer Satisfaction Decision Making Female Health Policy Humans Male Marketing of Health Services Pain Social Behavior Young Adult
Subjects: UNSPECIFIED
Divisions: Div F > Computational and Biological Learning
Depositing User: Cron Job
Date Deposited: 07 Mar 2014 11:22
Last Modified: 12 May 2014 01:00
DOI: 10.1037/a0030372

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