Lead Time Tto: Leading To Better Health State Valuations?
Health Economics , Volume 22 - Issue 4 p. 376- 392
SUMMARY: Preference elicitation tasks for better than dead (BTD) and worse than dead (WTD) health states vary in the conventional time trade-off (TTO) procedure, casting doubt on uniformity of scale. 'Lead time TTO' (LT-TTO) was recently introduced to overcome the problem. We tested different specifications of LT-TTO in comparison with TTO in a within-subject design. We elicited preferences for six health states and employed an intertemporal ranking task as a benchmark to test the validity of the two methods. We also tested constant proportional trade-offs (CPTO), while correcting for discounting, and the effect of extending the lead time if a health state is considered substantially WTD. LT-TTO produced lower values for BTD states and higher values for WTD states. The validity of CPTO varied across tasks, but it was higher for LT-TTO than for TTO. Results indicate that the ratio of lead time to disease time has a greater impact on results than the total duration of the time frame. The intertemporal ranking task could not discriminate between TTO and LT-TTO.
|Constant proportional trade-offs, Discounting, I10, Lead time TTO, Worse than dead health states|
|Health: General (jel I10)|
|Organisation||Erasmus School of Health Policy & Management (ESHPM)|
Attema, A.E, Versteegh, M.M, Oppe, M, Brouwer, W.B.F, & Stolk, E.A. (2013). Lead Time Tto: Leading To Better Health State Valuations?. Health Economics, 22(4), 376–392. doi:10.1002/hec.2804