Published in

Elsevier, Journal of Health Economics, 1(28), p. 234-243

DOI: 10.1016/j.jhealeco.2008.10.004

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The correction of TTO-scores for utility curvature using a risk-free utility elicitation method

Journal article published in 2009 by Arthur E. Attema, Werner B. F. Brouwer ORCID
This paper was not found in any repository, but could be made available legally by the author.
This paper was not found in any repository, but could be made available legally by the author.

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Abstract

This paper describes and employs a new method to correct time tradeoff (TTO)-scores for utility of life duration curvature. In contrast to most previous attempts to do so, it uses a risk-free method that corresponds well to the risk-free properties of the TTO-method. In addition, the method is robust to several biases that occur under methods that incorporate risk. Our results show a significant degree of curvature in utility of life duration and therefore a clear bias in TTO-scores. The risk-free method seems to be useful to correct TTO-scores for this influence and leads to significantly higher quality-adjustment factors.