 Societal value, the person trade‐off, and the dilemma of whose values to measure for cost‐effectiveness analysisPeter A. Ubel, Jeff Richardson () and Paul Menzel Health Economics, 2000, vol. 9, issue 2, 127-136 Abstract: In a previous paper, it was argued that Societal Value measurement through person trade‐off (PTO) elicitation offers a way to include the values of both general public and patients into cost‐effectiveness analysis (CEA). It was said that patients’ values could be used to estimate the effect that various health care dimensions have on health‐related utility and that public values could be used to estimate the Societal Value of these changes in utility. However, this previous proposal still creates opportunities for the public to misvalue the benefit of health care interventions because of bias or misunderstanding about what the health‐related utility really is of various illnesses or disabilities. A procedure that combines patient and public values into CEA to partially correct for this bias is suggested in this paper. In addition, it is pointed out that, although Societal Value measurement offers a role for distinctly public preferences in CEA, it still does not answer the question of whose utilities ought to be included in CEA. Copyright © 2000 John Wiley & Sons, Ltd. Date: 2000 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:wly:hlthec:v:9:y:2000:i:2:p:127-136 Access Statistics for this article Health Economics is currently edited by Alan Maynard, John Hutton and Andrew Jones More articles in Health Economics from John Wiley & Sons, Ltd. |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.