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The price of pain and the value of suffering
Date:4/22/2009

e price they were willing to pay was based on what they were given (money-in-the-pocket) rather than on their overall wealth.

These findings suggest that the value we place on relief from suffering is flexible and that activity of health markets cannot be predicted by the behavior of individuals. This is the first scientific study showing that our reaction towards pain is a relative judgment, based on our previous experience with that pain. The authors conclude that pain is a major health issue and with around $60 billion spent on painkillers worldwide each year, they note that these findings "are likely to have substantial economic implications."


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Contact: Barbara Isanski
bisanski@psychologicalscience.org
Association for Psychological Science
Source:Eurekalert

Page: 1 2

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