Table 4.
|
|
With experience |
With no experience |
||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
|
|
Regression1 |
Incremental WTP (£) |
Their preference is for: |
Regression1 |
Incremental WTP (£) |
Their preferences is for: |
||||
Value | (SD) | Value | (SD) | Value | (SD) | Value | (SD) | ||||
ASCSURGERY |
Coefficient |
1.6300 |
(0.457) |
488.02 |
- |
Surgery (compared
with current situation) |
1.3400 |
(0.310) |
445.18 |
- |
Surgery (compared with
current situation) |
ASCCREAM |
Coefficient |
2.6100 |
(0.719) |
781.44 |
- |
Imiquimod cream (compared
with current situation) |
3.0500 |
(0.488) |
1013.29 |
- |
Imiquimod cream (compared with
current situation) |
COST |
Coefficient |
−0.0033 |
(0.001) |
|
|
Decreased cost |
−0.0030 |
(0.001) |
|
|
Decreased cost |
CHANCE2 |
Mean |
0.0898 |
(0.033) |
26.89 |
(44.61) |
Increased chance (compared
with deceased; 73% of
respondents) |
0.1210 |
(0.026) |
40.20 |
(37.54) |
Increased chance (compared with
decreased; 86% of respondents) |
|
SD |
0.1490 |
(0.058) |
|
|
|
0.1130 |
(0.023) |
|
|
|
MILD SIDE EFFECTS |
Mean |
1.1500 |
(0.553) |
344.31 |
(616.77) |
Mild side effects
(compared with severe;
71% of respondents) |
1.3700 |
(0.390) |
455.15 |
(541.53) |
Mild side effects (compared with
severe; 80% of respondents) |
|
SD |
2.0600 |
(0.474) |
|
|
|
1.6300 |
(0.327) |
|
|
|
MODERATE SIDE
EFFECTS2–3 |
Mean |
1.1600 |
(0.480) |
347.31 |
(−153.89) |
Moderate side effects
(compared with severe;
99% of respondents) |
0.6710 |
(0.312) |
222.92 |
(−199.67) |
Moderate side effects (compared
with severe; 87% of respondents) |
|
SD |
0.5140 |
(0.519) |
|
|
|
0.6010 |
(0.423) |
|
|
|
NORMAL
APPEARANCE2-3 |
Mean |
1.3100 |
(0.531) |
392.22 |
(377.25) |
Normal appearance (compared
with severe change; 97% of
respondents) |
0.9000 |
(0.304) |
299.00 |
(158.80) |
Normal appearance (compared with
severe change, 85% of respondents) |
|
SD |
1.2600 |
(0.633) |
|
|
|
0.4780 |
(0.498) |
|
|
|
MODERATE CHANGE
IN APPEARANCE |
Mean |
0.9230 |
(0.564) |
276.35 |
(407.19) |
Moderate change
(compared with severe;
75% of respondents) |
0.4630 |
(0.433) |
153.82 |
(634.55) |
Moderate change (compared
with severe; 60% of respondents) |
|
SD |
1.3600 |
(0.539) |
|
|
|
1.9100 |
(0.408) |
|
|
|
No. respondents |
|
56 |
118 |
||||||||
No. observations |
|
896 (=56 respondents*16 choices) |
1869 (=115 respondents*16 choices+
1 respondent*14 choices+1 respondent*
8 choices+1 respondent*7 choices) |
||||||||
Log-likelihood |
|
−649.27 |
−1350.8 |
||||||||
Adj Rho-square |
|
0.327 |
0.336 |
||||||||
LR statistic | 670.18 | 1405.08 |
Note: Alternative specific constants (ASC) for surgery (ASCSURGERY) and for cream (ASCCREAM) show the preferences of these alternatives relative to the current situation, everything else being equal. WTP estimates are based on the regression results in column 3 and rounded to 2 decimal places. The standard deviations are in parentheses. 1 The preferred model is a MLM and presents all characteristics (apart from ‘COST’, ‘ASCSURGERY’, ‘ASCCREAM’) as random and independently normally distributed. The simulation process is based on 500 draws. All coefficients (either fixed or random) and the standard deviations of the random coefficients are statistically significant at 95% 2 Differences in marginal WTP between groups are significant at the 95% level. 3Differences in preference distribution between groups are significant at the 99% level.
Key: SD = standard deviation, WTP = Willingness to Pay, LR = Likelihood Ratio, No. = Number of.