Hacienda Pública Española/ Review of Public Economics, 249(2/2024), pp. 83-107. (2024)
Autores: José María Abellán Perpiñán, Jorge E. Martínez Pérez, Fernando I. Sánchez Martínez y Jorge Luis Gómez Torres
Abstract
This paper applies contingent valuation methodology to estimate the monetary value of the information contained in medicine leaflets. By surveying a sample of the general population, we obtain willingness-to-pay estimates of the value of providing additional quantitative information on potential benefits and side effects of a hypothetical medicine, according to the best evidence available about risk communication. The willingness-to-pay estimates found in our study ranged from 60 cents to 1 euro per month. In addition, some consistency tests of the robustness of our estimates are also presented, as well as evidence on their feasibility, reliability and validity.