Valuing Health Benefits: How Much Are People Willing to Pay?
Cost–Benefit Analysis (CBA) is a way to figure out if the benefits of a program are worth the costs. Scientists try to put a money value on health benefits like reducing the risk of getting sick or dying. They ask people how much they would pay for these benefits. One method is to ask people if they would accept or reject different amounts of money for these benefits. By doing this, scientists can estimate how much people are willing to pay for health benefits.