Showing 11 - 20 of 202
The paper addresses some limitations of the QALY approach and outlines a valuation procedure that may overcome these limitations. In particular, we focus on the following issues: the distinction between assessing individual utility and assessing societal value of health care; the need to...
Persistent link: https://www.econbiz.de/10005690014
This paper is the first to apply prospect theory to societal health-related decision making. In particular, we allow for utility curvature, equity weighting, sign-dependence, and loss aversion in choices concerning quality of life of other people. We find substantial inequity aversion, both for...
Persistent link: https://www.econbiz.de/10011112682
Persistent link: https://www.econbiz.de/10001616717
Persistent link: https://www.econbiz.de/10001572813
Persistent link: https://www.econbiz.de/10001470004
Persistent link: https://www.econbiz.de/10001221053
Persistent link: https://www.econbiz.de/10013387187
Higher order risk preferences are important determinants of economic behaviour. We apply behavioural insights to this topic: we measure higher order risk preferences for pure gains and pure losses by controlling the reference point. We find a reflection effect not only for second order risk...
Persistent link: https://www.econbiz.de/10011932350
Accounting for ambiguity aversion in dynamic decisions generally implies that either dynamic consistency or consequentialism must be given up. To gain insight into which of these principles better describes people's preferences we tested them using a variation of Ellsberg's three-color urn...
Persistent link: https://www.econbiz.de/10012705273
Persistent link: https://www.econbiz.de/10012082349