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A theoretical framework for TTO valuations of health

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  • Ken Buckingham

    (Department of Preventive and Social Medicine, Otago University, New Zealand)

  • Nancy Devlin

    (City Health Economics Centre, Economics Department, City University, UK)

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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Bibliographic 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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  1. Bleichrodt, Han & Pinto, Jose Luis & Maria Abellan-Perpinan, Jose, 2003. "A consistency test of the time trade-off," Journal of Health Economics, Elsevier, vol. 22(6), pages 1037-1052, November.
  2. Anne Spencer, 2003. "The TTO method and procedural invariance," Health Economics, John Wiley & Sons, Ltd., vol. 12(8), pages 655-668.
  3. Drummond, Michael F. & Sculpher, Mark J. & Torrance, George W. & O'Brien, Bernie J. & Stoddart, Greg L., 2005. "Methods for the Economic Evaluation of Health Care Programmes," OUP Catalogue, Oxford University Press, edition 3, number 9780198529453, September.
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Cited by:
  1. Daniel M. Hausman, 2010. "Valuing health: a new proposal," Health Economics, John Wiley & Sons, Ltd., vol. 19(3), pages 280-296.
  2. Buckingham, K. & Devlin, N., 2008. "A note on the nature of utility in time and health and implications for cost utility analysis," Working Papers 08/02, Department of Economics, City University London.
  3. Bansback, Nick & Brazier, John & Tsuchiya, Aki & Anis, Aslam, 2010. "Using a discrete choice experiment to estimate societal health state utility values," MPRA Paper 29933, University Library of Munich, Germany.

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