A consistency test of the time trade-off

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Journal of Health Economics, 2003, vol. 22, issue 6, pp. 1037-1052
http://hdl.handle.net/10230/741
To cite or link this document: http://hdl.handle.net/10230/741
dc.contributor.author Bleichrodt, Han
dc.contributor.author Pinto, José Luis
dc.contributor.author Abellán-Perpiñán, José María
dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
dc.date.issued 2003-03-01
dc.identifier.citation Journal of Health Economics, 2003, vol. 22, issue 6, pp. 1037-1052
dc.identifier.uri http://hdl.handle.net/10230/741
dc.description.abstract This paper tests the internal consistency of time trade-off utilities. We find significant violations of consistency in the direction predicted by loss aversion. The violations disappear for higher gauge durations. We show that loss aversion can also explain that for short gauge durations time trade-off utilities exceed standard gamble utilities. Our results suggest that time trade-off measurements that use relatively short gauge durations, like the widely used EuroQol algorithm (Dolan 1997), are affected by loss aversion and lead to utilities that are too high.
dc.language.iso eng
dc.relation.ispartofseries Economics and Business Working Papers Series; 676
dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.title A consistency test of the time trade-off
dc.type info:eu-repo/semantics/workingPaper
dc.date.modified 2014-06-03T07:14:09Z
dc.subject.keyword Labour, Public, Development and Health Economics
dc.subject.keyword cost-utility analysis
dc.subject.keyword time trade-off
dc.subject.keyword loss aversion
dc.rights.accessRights info:eu-repo/semantics/openAccess


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