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The implications of linking questions within the SG and TTO methods

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  • Anne Spencer

Abstract

We consider the impact of introducing intermediate stages, chained together, into the standard gamble (SG) and time trade‐off (TTO) methods. Less is known about the impact of intermediate stages, chained together, in the TTO method. We broadly replicate the patterns of responses observed in other SG studies which have been accounted for by loss aversion. We find that the TTO responses do not replicate the patterns found in the SG responses. The results support the notion that additional issues arise in the TTO method that counteract loss aversion. Copyright © 2004 John Wiley & Sons, Ltd.

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  • Anne Spencer, 2004. "The implications of linking questions within the SG and TTO methods," Health Economics, John Wiley & Sons, Ltd., vol. 13(8), pages 807-818, August.
    • Handle: RePEc:wly:hlthec:v:13:y:2004:i:8:p:807-818
    DOI: 10.1002/hec.863
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    References listed on IDEAS

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    1. Anne Spencer, 2001. "The Implications of Linking Questions within the SG and TTO Methods," Working Papers 438, Queen Mary University of London, School of Economics and Finance.
    2. Tversky, Amos & Kahneman, Daniel, 1992. "Advances in Prospect Theory: Cumulative Representation of Uncertainty," Journal of Risk and Uncertainty, Springer, vol. 5(4), pages 297-323, October.
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    9. Susan Chilton & Anne Spencer, 2001. "Empirical evidence of inconsistency in Standard Gamble choices under direct and indirect elicitation methods," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 137(I), pages 65-86, March.
    10. Anne Spencer, 2001. "The Implications of Linking Questions within the SG and TTO Methods," Working Papers 438, Queen Mary University of London, School of Economics and Finance.
    11. Dolan, Paul & Jones-Lee, Michael, 1997. "The time trade-off: A note on the effect of lifetime reallocation of consumption and discounting," Journal of Health Economics, Elsevier, vol. 16(6), pages 731-739, December.
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    14. Anne Spencer, 2003. "The TTO method and procedural invariance," Health Economics, John Wiley & Sons, Ltd., vol. 12(8), pages 655-668, August.
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    Cited by:

    1. 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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