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A new and more robust test of QALYs

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  • Doctor, Jason N.
  • Bleichrodt, Han
  • Miyamoto, John
  • Temkin, Nancy R.
  • Dikmen, Sureyya
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    File URL: http://www.sciencedirect.com/science/article/B6V8K-4BSVBW0-1/2/ba5ceebbe30522f9f36bb7964340552f
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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Health Economics.

    Volume (Year): 23 (2004)
    Issue (Month): 2 (March)
    Pages: 353-367

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    Handle: RePEc:eee:jhecon:v:23:y:2004:i:2:p:353-367

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    Web page: http://www.elsevier.com/locate/inca/505560

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    References

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    1. Amos Tversky & Daniel Kahneman, 1979. "Prospect Theory: An Analysis of Decision under Risk," Levine's Working Paper Archive 7656, David K. Levine.
    2. Diecidue, Enrico & Wakker, Peter P., 2002. "Dutch books: avoiding strategic and dynamic complications, and a comonotonic extension," Mathematical Social Sciences, Elsevier, Elsevier, vol. 43(2), pages 135-149, March.
    3. Bleichrodt, Han & Wakker, Peter & Johannesson, Magnus, 1997. "Characterizing QALYs by Risk Neutrality," Journal of Risk and Uncertainty, Springer, Springer, vol. 15(2), pages 107-14, November.
    4. Matthew Rabin., 2000. "Risk Aversion and Expected-Utility Theory: A Calibration Theorem," Economics Working Papers, University of California at Berkeley E00-279, University of California at Berkeley.
    5. Han Bleichrodt & Jose Luis Pinto, 2000. "A Parameter-Free Elicitation of the Probability Weighting Function in Medical Decision Analysis," Management Science, INFORMS, INFORMS, vol. 46(11), pages 1485-1496, November.
    6. Benartzi, Shlomo & Thaler, Richard H, 1995. "Myopic Loss Aversion and the Equity Premium Puzzle," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 110(1), pages 73-92, February.
    7. Fox, Craig R & Rogers, Brett A & Tversky, Amos, 1996. "Options Traders Exhibit Subadditive Decision Weights," Journal of Risk and Uncertainty, Springer, Springer, vol. 13(1), pages 5-17, July.
    8. Yaari, Menahem E, 1987. "The Dual Theory of Choice under Risk," Econometrica, Econometric Society, Econometric Society, vol. 55(1), pages 95-115, January.
    9. Peter Wakker & Daniel Deneffe, 1996. "Eliciting von Neumann-Morgenstern Utilities When Probabilities Are Distorted or Unknown," Management Science, INFORMS, INFORMS, vol. 42(8), pages 1131-1150, August.
    10. Mohammed Abdellaoui, 2000. "Parameter-Free Elicitation of Utility and Probability Weighting Functions," Management Science, INFORMS, INFORMS, vol. 46(11), pages 1497-1512, November.
    11. John M. Miyamoto & Peter P. Wakker & Han Bleichrodt & Hans J. M. Peters, 1998. "The Zero-Condition: A Simplifying Assumption in QALY Measurement and Multiattribute Utility," Management Science, INFORMS, INFORMS, vol. 44(6), pages 839-849, June.
    12. Reinhard Selten & Abdolkarim Sadrieh & Klaus Abbink, 1999. "Money Does Not Induce Risk Neutral Behavior, but Binary Lotteries Do even Worse," Theory and Decision, Springer, Springer, vol. 46(3), pages 213-252, June.
    13. Bateman, Ian J, et al, 1997. "A Test of the Theory of Reference-Dependent Preferences," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 112(2), pages 479-505, May.
    14. Tversky, Amos & Kahneman, Daniel, 1992. " Advances in Prospect Theory: Cumulative Representation of Uncertainty," Journal of Risk and Uncertainty, Springer, Springer, vol. 5(4), pages 297-323, October.
    15. John C. Hershey & Paul J. H. Schoemaker, 1985. "Probability Versus Certainty Equivalence Methods in Utility Measurement: Are they Equivalent?," Management Science, INFORMS, INFORMS, vol. 31(10), pages 1213-1231, October.
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    Cited by:
    1. Jens Leth Hougaard & Juan D. Moreno-Ternero & Lars Peter Østerdal, 2011. "A new axiomatic approach to the evaluation of population health," Discussion Papers 11-24, University of Copenhagen. Department of Economics.
    2. José-Mar�a Abellán-Perpi�án & José-Luis Pinto-Prades & Ildefonso Méndez-Mart�nez & Xabier Bad�a-Llach, 2006. "Towards a better QALY model," Health Economics, John Wiley & Sons, Ltd., vol. 15(7), pages 665-676.
    3. Han Bleichrodt & Jose Maria Abellan-Perpiñan & Jose Luis Pinto-Prades & Ildefonso Mendez-Martinez, 2007. "Resolving Inconsistencies in Utility Measurement Under Risk: Tests of Generalizations of Expected Utility," Management Science, INFORMS, INFORMS, vol. 53(3), pages 469-482, March.
    4. Attema, Arthur E. & Brouwer, Werner B.F., 2012. "A test of independence of discounting from quality of life," Journal of Health Economics, Elsevier, Elsevier, vol. 31(1), pages 22-34.
    5. Peter P. Wakker, 2008. "Explaining the characteristics of the power (CRRA) utility family," Health Economics, John Wiley & Sons, Ltd., vol. 17(12), pages 1329-1344.
    6. Bleichrodt, Han & Filko, Martin, 2008. "New tests of QALYs when health varies over time," Journal of Health Economics, Elsevier, Elsevier, vol. 27(5), pages 1237-1249, September.
    7. Spencer, Anne & Robinson, Angela, 2007. "Tests of utility independence when health varies over time," Journal of Health Economics, Elsevier, Elsevier, vol. 26(5), pages 1003-1013, September.
    8. Kvamme, Maria Knoph & Gyrd-Hansen, Dorte & Olsen, Jan Abel & Kristiansen, Ivar Sønbø, 2010. "Increasing marginal utility of small increases in life-expectancy?: Results from a population survey," Journal of Health Economics, Elsevier, Elsevier, vol. 29(4), pages 541-548, July.
    9. Anne Spencer & Angela Robinson, 2007. "Tests of Utility Independence When Health Varies over Time," Working Papers, Queen Mary, University of London, School of Economics and Finance 596, Queen Mary, University of London, School of Economics and Finance.
    10. Henry Stott, 2006. "Cumulative prospect theory's functional menagerie," Journal of Risk and Uncertainty, Springer, Springer, vol. 32(2), pages 101-130, March.

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