Experience-based utility and own health state valuation for a health state classification system: why and how to do it

John Brazier (), Donna Rowen (), Milad Karimi, Tessa Peasgood, Aki Tsuchiya () and Julie Ratcliffe
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Donna Rowen: University of Sheffield
Milad Karimi: University of Sheffield
Tessa Peasgood: University of Sheffield
Julie Ratcliffe: University of South Australia

The European Journal of Health Economics, 2018, vol. 19, issue 6, No 11, 891 pages

Abstract: Abstract In the estimation of population value sets for health state classification systems such as the EuroQOL five dimensions questionnaire (EQ-5D), there is increasing interest in asking respondents to value their own health state, sometimes referred to as “experience-based utility values” or, more correctly, own rather than hypothetical health states. Own health state values differ to hypothetical health state values, and this may be attributable to many reasons. This paper critically examines whose values matter; why there is a difference between own and hypothetical values; how to measure own health state values; and why to use own health state values. Finally, the paper examines other ways that own health state values can be taken into account, such as including the use of informed general population preferences that may better take into account experience-based values.

Keywords: Experience-based utility; Own health state valuation; Hypothetical health state values; Informed preferences (search for similar items in EconPapers)
JEL-codes: I10 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (5)

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DOI: 10.1007/s10198-017-0931-5

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