A theoretical framework for TTO valuations of health
This paper proposes a theoretical framework, drawing on Hicks utility theory, for the Time Trade-off (TTO) method conventionally used to value health states. We briefly describe that theory and posit four distinctive TTO valuation approaches suggested by it: each of compensating variation and equivalent variation for both gains and losses in health, with valuation of health states in each case derived from trade-offs between health and length of life. Recent developments and research on TTO valuation are placed in the context of this framework. Copyright © 2006 John Wiley & Sons, Ltd.
Year of publication: |
2006
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Authors: | Buckingham, Ken ; Devlin, Nancy |
Published in: |
Health Economics. - John Wiley & Sons, Ltd., ISSN 1057-9230. - Vol. 15.2006, 10, p. 1149-1154
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Publisher: |
John Wiley & Sons, Ltd. |
Saved in:
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