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A theoretical framework for TTO valuations of health

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Author Info
Ken Buckingham (Department of Preventive and Social Medicine, Otago University, New Zealand)
Nancy Devlin (City Health Economics Centre, Economics Department, City University, UK)

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Abstract

This paper proposes a theoretical framework, drawing on Hicks utility theory, for the Time Trade-off (TTO) method conventionally used to value health states. We briefly describe that theory and posit four distinctive TTO valuation approaches suggested by it: each of compensating variation and equivalent variation for both gains and losses in health, with valuation of health states in each case derived from trade-offs between health and length of life. Recent developments and research on TTO valuation are placed in the context of this framework. Copyright © 2006 John Wiley & Sons, Ltd.

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File URL: http://hdl.handle.net/10.1002/hec.1122
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Publisher Info
Article provided by John Wiley & Sons, Ltd. in its journal Health Economics.

Volume (Year): 15 (2006)
Issue (Month): 10 ()
Pages: 1149-1154
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Handle: RePEc:wly:hlthec:v:15:y:2006:i:10:p:1149-1154

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Web page: http://www3.interscience.wiley.com/cgi-bin/jhome/5749

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Han Bleichrodt & José Luis Pinto & José María Abellán-Perpiñán, 2003. "A Consistency Test of the Time Trade-Off," Working Papers, Research Center on Health and Economics 676, Department of Economics and Business, Universitat Pompeu Fabra. [Downloadable!]
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  2. Anne Spencer, 2003. "The TTO method and procedural invariance," Health Economics, John Wiley & Sons, Ltd., vol. 12(8), pages 655-668. [Downloadable!]
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Ken Buckingham & Nancy Devlin, 2008. "A note on the nature of utility in time and health and implications for cost utility analysis," City University Economics Discussion Papers 08/02, Department of Economics, City University, London. [Downloadable!]
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This page was last updated on 2009-11-16.

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