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2002•Health EconomicsRequires access

Measuring the value of time for methadone maintenance clients: willingness to pay, willingness to accept, and the wage rate

Natalia N. Borisova, Allen C. Goodman

Open publisher page 45 citations

Abstract

Three measures of the value of time - willingness to pay (WTP) for a reduction in travel time, willingness to accept (WTA) a monetary compensation to forgo it, and the wage rate - are evaluated and compared. WTP and WTA were estimated from the two-part regressions of time price, using contingent valuation methods with primary survey data. Systematic differences are found in comparisons of WTP and WTA with the wage rate.

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What this paper is about

Three measures of the value of time - willingness to pay (WTP) for a reduction in travel time, willingness to accept (WTA) a monetary compensation to forgo it, and the wage rate - are evaluated and compared. WTP and WTA were estimated from the two-part regressions of time price, using contingent valuation methods with primary survey data. Systematic differences are found in comparisons of WTP and WTA with the wage rate.

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OpenAlex reports 45 citations for this work. Citation counts describe recorded attention and do not establish research quality.

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Available abstract

Three measures of the value of time - willingness to pay (WTP) for a reduction in travel time, willingness to accept (WTA) a monetary compensation to forgo it, and the wage rate - are evaluated and compared. WTP and WTA were estimated from the two-part regressions of time price, using contingent valuation methods with primary survey data. Systematic differences are found in comparisons of WTP and WTA with the wage rate.

Key concepts: Willingness to pay, Willingness to accept, Contingent valuation, Economics, Wage, Wage rate, Value of time, Value (mathematics)

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