The European Journal of Health Economics

, Volume 19, Issue 3, pp 315–325 | Cite as

Emotions and scope effects in the monetary valuation of health

  • María V. Avilés Blanco
  • Raúl Brey
  • Jorge Araña
  • José Luis Pinto Prades
Original Paper

Abstract

This study presents evidence on the role of emotions in the monetary evaluation of health technologies, namely, drug-eluting stents (DES) in our case. It is shown that subjects who are very afraid of having to undergo an angioplasty are: (a) less sensitive to the size of the risk reduction provided by DES and (b) willing to pay more. The lack of scope sensitivity questions the normative validity of the responses of highly emotional subjects. We provide evidence of this effect using what we call the cognitive-emotional random utility model and the responses of a face-to-face, computer-assisted personal interview survey conducted in a representative sample of the Spanish general population (n = 1663).

Keywords

Health technology evaluation Scope sensitivity Emotions Willingness to pay 

JEL classifications

H41 H51 I11 I18 I31 

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Copyright information

© Springer-Verlag Berlin Heidelberg 2017

Authors and Affiliations

  1. 1.University of SevilleSevilleSpain
  2. 2.University Pablo de OlavideSevilleSpain
  3. 3.University of Las Palmas de Gran CanariaLas PalmasSpain
  4. 4.University of NavarraPamplonaSpain
  5. 5.Glasgow Caledonian UniversityGlasgowUK

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