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Comparing the results of applying different methods of eliciting time preferences for health

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  • Dorte Gyrd-Hansen

Abstract

Four methods of eliciting time preferences were tested in a pilot study, with the aim of disclosing individual time preference incorporating and excluding risk, social interpersonal preference incorporating elements of risk and social intertemporal preference. All standard gamble questions resulted in significantly higher individual time preference estimates than elicited through the time-tradeoff method. The social interpersonal preference estimate was significantly higher than the social intertemporal preference. The individual time preference elicited by the time tradeoff was, however, not significantly different from the social intertemporal preference. The analysis proposes that equity and uncertainty have significant and major impacts on the time preference over life time. Hence, applying the social intertemporal preference when estimating the present value of a stream of life-years may seriously overestimate the true present value of health streams by ignoring preferences for equity and uncertainty over life time. Copyright Springer-Verlag Berlin Heidelberg 2002

Suggested Citation

  • Dorte Gyrd-Hansen, 2002. "Comparing the results of applying different methods of eliciting time preferences for health," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 3(1), pages 10-16, March.
    • Handle: RePEc:spr:eujhec:v:3:y:2002:i:1:p:10-16
    DOI: 10.1007/s10198-002-0098-5
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    Citations

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    Cited by:

    1. Joseph G Eisenhauer, 2012. "Measuring Aversion to Health Risks," Journal of Economics and Behavioral Studies, AMH International, vol. 4(2), pages 96-107.
    2. Harsha Thirumurthy & Kami Hayashi & Sebastian Linnemayr & Rachel C Vreeman & Irwin P Levin & David R Bangsberg & Noel T Brewer, 2015. "Time Preferences Predict Mortality among HIV-Infected Adults Receiving Antiretroviral Therapy in Kenya," PLOS ONE, Public Library of Science, vol. 10(12), pages 1-8, December.
    3. Irvine, Alastair & van der Pol, Marjon & Phimister, Euan, 2019. "A comparison of professional and private time preferences of General Practitioners," Social Science & Medicine, Elsevier, vol. 222(C), pages 256-264.
    4. Versteegh, MM & Attema, AE & Oppe, M & Devlin, NJ & Stolk, EA, 2012. "Time to tweak the TTO. But how?," MPRA Paper 37989, University Library of Munich, Germany.
    5. van der Pol, Marjon & Cairns, John, 2008. "Comparison of two methods of eliciting time preference for future health states," Social Science & Medicine, Elsevier, vol. 67(5), pages 883-889, September.
    6. Kossova, Tatiana & Kossova, Elena & Sheluntcova, Maria, 2018. "Anti-smoking policy in Russia: Relevant factors and program planning," Evaluation and Program Planning, Elsevier, vol. 69(C), pages 43-52.
    7. Kristian Schultz Hansen & Lars Peter Østerdal, 2004. "QALYs When Health Varies Over Time: An Analysis of Model Identification and Parameter Estimation from Time Trade-Off and Standard Gamble Scores," Discussion Papers 04-05, University of Copenhagen. Department of Economics.
    8. Cairns, John, 2006. "Developments in discounting: With special reference to future health events," Resource and Energy Economics, Elsevier, vol. 28(3), pages 282-297, August.
    9. Marjon Pol & Larissa Roux, 2005. "Time preference bias in time trade-off," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 6(2), pages 107-111, June.
    10. Arthur Attema & Yvette Edelaar-Peeters & Matthijs Versteegh & Elly Stolk, 2013. "Time trade-off: one methodology, different methods," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 14(1), pages 53-64, July.

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