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The internal consistency of the standard gamble: tests after adjusting for prospect theory

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  • Oliver, Adam

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  • Oliver, Adam, 2003. "The internal consistency of the standard gamble: tests after adjusting for prospect theory," Journal of Health Economics, Elsevier, vol. 22(4), pages 659-674, July.
  • Handle: RePEc:eee:jhecon:v:22:y:2003:i:4:p:659-674
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    10. George Wu & Richard Gonzalez, 1999. "Nonlinear Decision Weights in Choice Under Uncertainty," Management Science, INFORMS, vol. 45(1), pages 74-85, January.
    11. Bleichrodt, Han, 2001. "Probability Weighting in Choice under Risk: An Empirical Test," Journal of Risk and Uncertainty, Springer, vol. 23(2), pages 185-198, September.
    12. Peter Wakker & Daniel Deneffe, 1996. "Eliciting von Neumann-Morgenstern Utilities When Probabilities Are Distorted or Unknown," Management Science, INFORMS, vol. 42(8), pages 1131-1150, August.
    13. Torrance, George W., 1986. "Measurement of health state utilities for economic appraisal : A review," Journal of Health Economics, Elsevier, vol. 5(1), pages 1-30, March.
    14. Tversky, Amos & Kahneman, Daniel, 1986. "Rational Choice and the Framing of Decisions," The Journal of Business, University of Chicago Press, vol. 59(4), pages 251-278, October.
    15. John C. Hershey & Paul J. H. Schoemaker, 1985. "Probability Versus Certainty Equivalence Methods in Utility Measurement: Are they Equivalent?," Management Science, INFORMS, vol. 31(10), pages 1213-1231, October.
    16. Oliver, Adam, 2003. "A quantitative and qualitative test of the Allais paradox using health outcomes," Journal of Economic Psychology, Elsevier, vol. 24(1), pages 35-48, February.
    17. Mohammed Abdellaoui, 2000. "Parameter-Free Elicitation of Utility and Probability Weighting Functions," Management Science, INFORMS, vol. 46(11), pages 1497-1512, November.
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    Cited by:

    1. Attema, Arthur E. & Brouwer, Werner B.F. & l’Haridon, Olivier, 2013. "Prospect theory in the health domain: A quantitative assessment," Journal of Health Economics, Elsevier, vol. 32(6), pages 1057-1065.
    2. L. M. Lamers & C. A. M. Bouwmans & A. van Straten & M. C. H. Donker & L. Hakkaart, 2006. "Comparison of EQ‐5D and SF‐6D utilities in mental health patients," Health Economics, John Wiley & Sons, Ltd., vol. 15(11), pages 1229-1236, November.
    3. Brazier, J, 2005. "Current state of the art in preference-based measures of health and avenues for further research," MPRA Paper 29762, University Library of Munich, Germany.
    4. Arthur E. Attema & Han Bleichrodt & Peter P. Wakker, 2012. "A Direct Method for Measuring Discounting and QALYs More Easily and Reliably," Medical Decision Making, , vol. 32(4), pages 583-593, July.
    5. John Brazier & Christopher McCabe, 2007. "‘Is there a case for using visual analogue scale valuations in CUA’ by Parkin and Devlin a response: ‘yes there is a case, but what does it add to ordinal data?’," Health Economics, John Wiley & Sons, Ltd., vol. 16(6), pages 645-647, June.
    6. Adam Oliver, 2006. "On the lottery equivalents method: a response to Spencer et al," Health Economics, John Wiley & Sons, Ltd., vol. 15(3), pages 323-325, March.
    7. 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, vol. 53(3), pages 469-482, March.
    8. José María Abellán Perpiñán & Fernando Ignacio Sánchez Martínez & Jorge Eduardo Martínez Pérez & Ildefonso Méndez, 2012. "Lowering The ‘Floor’ Of The Sf‐6d Scoring Algorithm Using A Lottery Equivalent Method," Health Economics, John Wiley & Sons, Ltd., vol. 21(11), pages 1271-1285, November.
    9. Stefan A. Lipman & Werner B.F. Brouwer & Arthur E. Attema, 2019. "QALYs without bias? Nonparametric correction of time trade‐off and standard gamble weights based on prospect theory," Health Economics, John Wiley & Sons, Ltd., vol. 28(7), pages 843-854, July.
    10. Stefan A. Lipman & Werner B. F. Brouwer & Arthur E. Attema, 2019. "A QALY loss is a QALY loss is a QALY loss: a note on independence of loss aversion from health states," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 20(3), pages 419-426, April.
    11. A. Spencer & J. Covey & S. Chilton & M. Taylor, 2005. "Testing the internal consistency of the lottery equivalents method using health outcomes: a comment to Oliver," Health Economics, John Wiley & Sons, Ltd., vol. 14(2), pages 161-167, February.
    12. Adam Oliver, 2018. "Your money and your life: Risk attitudes over gains and losses," Journal of Risk and Uncertainty, Springer, vol. 57(1), pages 29-50, August.
    13. Oliver, Adam, 2018. "Your money and your life: risk attitudes over gains and losses," LSE Research Online Documents on Economics 88583, London School of Economics and Political Science, LSE Library.
    14. Kharroubi, Samer & Brazier, John E. & O'Hagan, Anthony, 2007. "Modelling covariates for the SF-6D standard gamble health state preference data using a nonparametric Bayesian method," Social Science & Medicine, Elsevier, vol. 64(6), pages 1242-1252, March.
    15. Craig, Benjamin M. & Oppe, Mark, 2010. "From a different angle: A novel approach to health valuation," Social Science & Medicine, Elsevier, vol. 70(2), pages 169-174, January.
    16. Jose Mª Abellán Perpiñán & Fernando Ignacio Sánchez Martínez & Jorge Eduardo Martínez Pérez & Ildefonso Méndez Martínez, 2009. "The QALY model wich came in from a general population survey: roughly multiplicative, broadly nonlinear and sometimes contex-dependt," Economic Working Papers at Centro de Estudios Andaluces E2009/04, Centro de Estudios Andaluces.
    17. Adam Oliver, 2005. "Testing the internal consistency of the lottery equivalents method using health outcomes," Health Economics, John Wiley & Sons, Ltd., vol. 14(2), pages 149-159, February.

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