Comparing the results of applying different methods of eliciting time preferences for health

Gyrd-Hansen, Dorte (2002) Comparing the results of applying different methods of eliciting time preferences for health. European Journal of Health Economics, 3 1: 10-16. doi:10.1007/s10198-002-0098-5


Author Gyrd-Hansen, Dorte
Title Comparing the results of applying different methods of eliciting time preferences for health
Journal name European Journal of Health Economics   Check publisher's open access policy
ISSN 1439-3972
1618-7598
Publication date 2002
Sub-type Article (original research)
DOI 10.1007/s10198-002-0098-5
Volume 3
Issue 1
Start page 10
End page 16
Total pages 7
Place of publication New York, United States
Publisher Springer
Abstract Four methods of eliciting time preferences were tested in a pilot study, with the aim of disclosing individual time preference incorporating and excluding risk, social interpersonal preference incorporating elements of risk and social intertemporal preference. All standard gamble questions resulted in significantly higher individual time preference estimates than elicited through the time-tradeoff method. The social interpersonal preference estimate was significantly higher than the social intertemporal preference. The individual time preference elicited by the time tradeoff was, however, not significantly different from the social intertemporal preference. The analysis proposes that equity and uncertainty have significant and major impacts on the time preference over life time. Hence, applying the social intertemporal preference when estimating the present value of a stream of life-years may seriously overestimate the true present value of health streams by ignoring preferences for equity and uncertainty over life time.
Keyword Time preference
Economic evaluation
Q-Index Code C1
Q-Index Status Provisional Code
Institutional Status Non-UQ

Document type: Journal Article
Sub-type: Article (original research)
Collection: School of Medicine Publications
 
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Created: Thu, 20 Oct 2011, 14:19:36 EST by Dorte Gyrd-hansen on behalf of Medicine - Royal Brisbane and Women's Hospital