Willingness to PayWTP, Maximum Price Payable
The maximum amount of money an individual would give up to obtain a good or avoid a negative outcome.
Cost-Effectiveness Analysis
Terms used to compare the costs and health effects of alternative interventions and judge value for money.
- Topic: Cost-Effectiveness Analysis
- 42 terms
- Editor reviewed
Willingness-to-Pay ThresholdWTP Threshold, Cost-Effectiveness Willingness-to-Pay
The maximum amount a decision-maker is prepared to pay for an additional unit of health benefit, used to judge acceptable value for money.