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The European Journal of Health Economics

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01-12-2013 | Original Paper

Maximal endurable time states and the standard gamble: more preference reversals

Authors: P. F. M. Stalmeier, A. L. Verheijen

Published in: The European Journal of Health Economics | Issue 6/2013

Abstract

Background

The time trade off (TTO) method is not sensitive to maximal endurable time preferences, as preference reversals occur. The standard gamble (SG) method has not been tested regarding its sensitivity to maximal endurable time preferences.

Objective

This study investigates whether preference reversals occur for the SG method as well.

Methods

Fifty-nine respondents stated for several migraine health states their preference for living 10 or 20 years in that state. A migraine state was selected for which a respondent preferred 10–20 years, a maximal endurable time preference. Two probability equivalent gambles were obtained for the migraine states lasting 10 and 20 years, respectively. Preference reversals occurred when the gamble, equivalent to the longer duration, was preferred to the gamble equivalent to the shorter duration.

Results

Out of 59 respondents, 48 had maximal endurable time preferences. Of these 48 respondents, 34 (71 %) showed a preference reversal. This percentage differed significantly from chance, that is 50 % (P = 0.004), indicating that preference reversals occurred reliably.

Conclusion

The observed reversal rate for the standard gamble is similar to rates observed previously with the TTO method. Utility measurement of poor health states is problematic, both with the TTO and standard gamble methods.

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Title: Maximal endurable time states and the standard gamble: more preference reversals
Authors: P. F. M. Stalmeier
A. L. Verheijen
Publication date: 01-12-2013
Publisher: Springer Berlin Heidelberg
Published in: The European Journal of Health Economics / Issue 6/2013
Print ISSN: 1618-7598
Electronic ISSN: 1618-7601
DOI: https://doi.org/10.1007/s10198-012-0445-0

Keynote webinar | Spotlight on medication adherence

Springer Medicine

Maximal endurable time states and the standard gamble: more preference reversals

Abstract

Background

Objective

Methods

Results

Conclusion

Keynote webinar | Spotlight on medication adherence

Springer Medicine

Abstract

Background

Objective

Methods

Results

Conclusion

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