Dataset Information

The Measurement of Subjective Value and Its Relation to Contingent Valuation and Environmental Public Goods.

ABSTRACT: Environmental public goods--including national parks, clean air/water, and ecosystem services--provide substantial benefits on a global scale. These goods have unique characteristics in that they are typically "nonmarket" goods, with values from both use and passive use that accrue to a large number of individuals both in current and future generations. In this study, we test the hypothesis that neural signals in areas correlated with subjective valuations for essentially all other previously studied categories of goods (ventromedial prefrontal cortex and ventral striatum) also correlate with environmental valuations. We use contingent valuation (CV) as our behavioral tool for measuring valuations of environmental public goods. CV is a standard stated preference approach that presents survey respondents with information on an issue and asks questions that help policymakers determine how much citizens are willing to pay for a public good or policy. We scanned human subjects while they viewed environmental proposals, along with three other classes of goods. The presentation of all four classes of goods yielded robust and similar patterns of temporally synchronized brain activation within attentional networks. The activations associated with the traditional classes of goods replicate previous correlations between neural activity in valuation areas and behavioral preferences. In contrast, CV-elicited values for environmental proposals did not correlate with brain activity at either the individual or population level. For a sub-population of participants, CV-elicited values were correlated with activity within the dorsomedial prefrontal cortex, a region associated with cognitive control and shifting decision strategies. The results show that neural activity associated with the subjective valuation of environmental proposals differs profoundly from the neural activity associated with previously examined goods and preference measures.

SUBMITTER: Khaw MW

PROVIDER: S-EPMC4519262 | biostudies-literature | 2015

REPOSITORIES: biostudies-literature

ACCESS DATA

Publications

The Measurement of Subjective Value and Its Relation to Contingent Valuation and Environmental Public Goods.

Khaw Mel W MW Grab Denise A DA Livermore Michael A MA Vossler Christian A CA Glimcher Paul W PW

PloS one 20150729 7

Environmental public goods--including national parks, clean air/water, and ecosystem services--provide substantial benefits on a global scale. These goods have unique characteristics in that they are typically "nonmarket" goods, with values from both use and passive use that accrue to a large number of individuals both in current and future generations. In this study, we test the hypothesis that neural signals in areas correlated with subjective valuations for essentially all other previously st ...[more]

PMID: 26221734

Similar Datasets

Project description:BackgroundA greater emphasis on providing high-value orthopaedic interventions has resulted in increased health economic reporting. The contingent-valuation method (CVM) is used to determine consumer valuation of the benefits provided by healthcare interventions. CVM is an important value-based health economic tool that is underutilized in orthopaedic surgery.Questions/purposesThe purpose of this study was to (1) identify previously published CVM studies in the orthopaedic literature, (2) assess the methodologies used for CVM research, and (3) understand how CVM has been used in the orthopaedic cost-benefit analysis framework.MethodsA systematic review of the literature using the MEDLINE database was performed to compile CVM studies. Search terms incorporated the phrase willingness to pay (WTP) or willingness to accept (WTA) in combination with orthopaedic clinical key terms. Study methodology was appraised using previously defined empirical and conceptual criteria for CVM studies.ResultsOf the 160 studies retrieved, 22 (13.8%) met our inclusion criteria. The economics of joint arthroplasty (n?=?6, 27.3%) and non-operative osteoarthritis care (n?=?4, 18.2%) were the most common topics. Most studies used CVM for pricing and/or demand forecasting (n?=?16, 72.7%); very few studies used CVM for program evaluation (n?=?6). WTP was used in all included studies, and one study used both WTP and WTA. Otherwise, there was little consistency among included studies in terms of CVM methodology. Open-ended questioning was used by only ten studies (45.5%), a significant number of studies did not perform a sensitivity analysis (n?=?9, 40.9%), and none of the studies accounted for the risk preference of subjects. Only two of the included studies applied CVM within a cost-benefit analysis framework.ConclusionCVM is not commonly reported in orthopaedic surgery and is seldom used in the context of cost-benefit analysis. There is wide variability in the methods used to perform CVM. We propose that CVM is an appropriate and underappreciated method for understanding the value of orthopaedic interventions. Increased attention should be paid to consumer valuations for orthopaedic interventions.

Dataset Information

The Measurement of Subjective Value and Its Relation to Contingent Valuation and Environmental Public Goods.

Publications

The Measurement of Subjective Value and Its Relation to Contingent Valuation and Environmental Public Goods.

Similar Datasets

OmicsDI is part of the ELIXIR infrastructure

Tweets