Question

Cost of Illness Approach (CIA) and Willingness to Pay Approach (WTPA).

13 Jul 2023
Answer :
Word Count : 273
AspectCost of Illness Approach (CIA)Willingness to Pay Approach (WTPA)
DefinitionEstimates the economic burden of illness by calculating direct and indirect costs associated with a disease.Measures the amount an individual is willing to pay to avoid a specific health or educational risk or to gain an improvement.
MethodologyInvolves calculating direct costs (e.g., medical expenses) and indirect costs (e.g., lost wages, premature death).Based on surveys or market behavior to estimate the monetary ______ __________ ___ ___ _______ _________ ___.
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