When are person tradeoffs valid?
September 2009
Article
volume 28, issue 5 pp 1018-1027.
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The person tradeoff (PTO) is commonly used in health economic applications. However, to date it has no theoretical basis. The purpose of this paper is to provide this basis from a set of assumptions that together justify the most common applications of the PTO method. Our analysis identifies the central assumptions in PTO measurements. We test these assumptions in an experiment, but find only limited support for the validity of the PTO.
Keywords
- article
- health care management
- Utility theory
- welfare economics
- health economics
- social welfare
- health care policy
- health care utilization
- health status
- trade-off
- validity
- experimental study
- theory
- Social welfare
- Person tradeoff
- analytical method
