The correction of TTO-scores for utility curvature using a risk-free utility elicitation method
Arthur Attema and
Werner Brouwer ()
Journal of Health Economics, 2009, vol. 28, issue 1, 234-243
This paper describes and employs a new method to correct time tradeoff (TTO)-scores for utility of life duration curvature. In contrast to most previous attempts to do so, it uses a risk-free method that corresponds well to the risk-free properties of the TTO-method. In addition, the method is robust to several biases that occur under methods that incorporate risk. Our results show a significant degree of curvature in utility of life duration and therefore a clear bias in TTO-scores. The risk-free method seems to be useful to correct TTO-scores for this influence and leads to significantly higher quality-adjustment factors.
Keywords: Time; tradeoff; method; Utility; of; life; duration; Risk-free; method; Double; discounting (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (13) Track citations by RSS feed
Downloads: (external link)
Full text for ScienceDirect subscribers only
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eee:jhecon:v:28:y:2009:i:1:p:234-243
Access Statistics for this article
Journal of Health Economics is currently edited by J. P. Newhouse, A. J. Culyer, R. Frank, K. Claxton and T. McGuire
More articles in Journal of Health Economics from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().