Interpretations of Utility and Their Implications for the Valuation of Health  

Oleh:

Dolan, Paul ; Kahneman, Daniel

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Economic Journal (EBSCO) vol. 118 no. 525 (Jan. 2008), page 215-234.
Topik: Interpretations of Utility; Valuation of Health; Hedonic Experience; Decision Utility
Fulltext: 215.pdf (157.12KB)

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE28.27 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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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 hearth 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 foucs more directly on experienced utility.

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