A comparison of individual and collective decision making for standard gamble and time trade-off
Olivier l’Haridon and
Stefan A. Lipman ()
Additional contact information
Han Bleichrodt: Erasmus University
Olivier l’Haridon: CREM, Université de Rennes 1
Stefan A. Lipman: Erasmus University
Authors registered in the RePEc Author Service: Olivier L'Haridon
The European Journal of Health Economics, 2020, vol. 21, issue 3, No 12, 465-473
Abstract Quality-Adjusted Life-Years (QALYs) are typically derived from individual preferences over health episodes. This paper reports the first experimental investigation into the effects of collective decision making on health valuations, using both time trade-off (TTO) and standard gamble (SG) tasks. We investigated collective decision making in dyads, by means of a mixed-subjects design where we control for learning effects. Our data suggest that collective decision making has little effect on decision quality, as no effects were observed on decision consistency and monotonicity for both methods. Furthermore, QALY weights remained similar between individual and collective decisions, and the typical difference in elicited weights between TTO and SG was not affected. These findings suggest that consulting with others has little effect on health state valuation, although learning may have. Additionally, our findings add to the literature of the effect of collective decision making, suggesting that no such effect occurs for TTO and SG.
Keywords: Collective decision making; Health state valuation; Standard gamble; Time trade-off (search for similar items in EconPapers)
JEL-codes: D90 I10 I19 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed
Downloads: (external link)
http://link.springer.com/10.1007/s10198-019-01155-x Abstract (text/html)
Access to the full text of the articles in this series is restricted.
Working Paper: A comparison of individual and collective decision making for standard gamble and time trade-off (2020)
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:spr:eujhec:v:21:y:2020:i:3:d:10.1007_s10198-019-01155-x
Ordering information: This journal article can be ordered from
http://www.springer. ... cs/journal/10198/PS2
Access Statistics for this article
The European Journal of Health Economics is currently edited by J.-M.G.v.d. Schulenburg
More articles in The European Journal of Health Economics from Springer, Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ) Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().