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Estimating time preferences for health using discrete choice experiments

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  • van der Pol, Marjon
  • Cairns, John

Abstract

This study is the first to use discrete choice experiments to elicit inter-temporal preferences for health. Inter-temporal preferences with respect to one's own future health are compared with inter-temporal preferences with respect to others' future health. Discrete choice experiments are used to measure the relative importance of the duration of ill-health and how far in the future the ill-health occurs. Data were collected by postal questionnaire in the UK. The median implied rates of discount range from 0.055 to 0.091 for own health, depending on the period of delay, and from 0.078 to 0.147 for others' health. The implied discount rate varies with respect to age, self-rated health, and version of the questionnaire. The implied discount rates are broadly comparable with other published estimates using closed-ended methods. One concern is the large percentage of respondents with dominant preferences. This issue needs to be explored before adopting the approach of discrete choice experiments to elicit inter-temporal preferences.

Suggested Citation

  • van der Pol, Marjon & Cairns, John, 2001. "Estimating time preferences for health using discrete choice experiments," Social Science & Medicine, Elsevier, vol. 52(9), pages 1459-1470, May.
  • Handle: RePEc:eee:socmed:v:52:y:2001:i:9:p:1459-1470
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    Citations

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    Cited by:

    1. Andrew J Lloyd, 2003. "Threats to the estimation of benefit: are preference elicitation methods accurate?," Health Economics, John Wiley & Sons, Ltd., vol. 12(5), pages 393-402, May.
    2. Luciana Scalone & Peep Stalmeier & Silvano Milani & Paul Krabbe, 2015. "Values for health states with different life durations," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 16(9), pages 917-925, December.
    3. Galizzi, Matteo M. & Miraldo, Marisa & Stavropoulou, Charitini & van der Pol, Marjon, 2016. "Doctor–patient differences in risk and time preferences: A field experiment," Journal of Health Economics, Elsevier, vol. 50(C), pages 171-182.
    4. Fredslund, Eskild Klausen & Mørkbak, Morten Raun & Gyrd-Hansen, Dorte, 2018. "Different domains – Different time preferences?," Social Science & Medicine, Elsevier, vol. 207(C), pages 97-105.
    5. Andrew Meyer, 2013. "Estimating discount factors for public and private goods and testing competing discounting hypotheses," Journal of Risk and Uncertainty, Springer, vol. 46(2), pages 133-173, April.
    6. Sacha Bourgeois-Gironde & Itzhak Aharon, 2011. "From Neuroeconomics to Genetics: The Intertemporal Choices Case as an Example," Post-Print ijn_00713466, HAL.
    7. Tami L. Mark & Joffre Swait, 2004. "Using stated preference and revealed preference modeling to evaluate prescribing decisions," Health Economics, John Wiley & Sons, Ltd., vol. 13(6), pages 563-573, June.
    8. Alessandro Lizzeri & Leeat Yariv, 2017. "Collective Self-Control," American Economic Journal: Microeconomics, American Economic Association, vol. 9(3), pages 213-244, August.
    9. John Cairns & Marjon van der Pol & Andrew Lloyd, 2002. "Decision making heuristics and the elicitation of preferences: being fast and frugal about the future," Health Economics, John Wiley & Sons, Ltd., vol. 11(7), pages 655-658, October.
    10. W. David Bradford & Paul Dolan & Matteo M. Galizzi, 2019. "Looking ahead: Subjective time perception and individual discounting," Journal of Risk and Uncertainty, Springer, vol. 58(1), pages 43-69, February.
    11. Alessandro Mengoni & Chiara Seghieri & Sabina Nuti, 2013. "The application of discrete choice experiments in health economics: a systematic review of the literature," Working Papers 201301, Scuola Superiore Sant'Anna of Pisa, Istituto di Management.
    12. Shane Frederick & George Loewenstein & Ted O'Donoghue, 2002. "Time Discounting and Time Preference: A Critical Review," Journal of Economic Literature, American Economic Association, vol. 40(2), pages 351-401, June.
    13. Emily Lancsar & Peter Burge, 2014. "Choice modelling research in health economics," Chapters, in: Stephane Hess & Andrew Daly (ed.), Handbook of Choice Modelling, chapter 28, pages 675-687, Edward Elgar Publishing.
    14. Arthur E. Attema & Werner B.F. Brouwer, 2014. "Deriving Time Discounting Correction Factors For Tto Tariffs," Health Economics, John Wiley & Sons, Ltd., vol. 23(4), pages 410-425, April.
    15. Takeuchi, Kan, 2011. "Non-parametric test of time consistency: Present bias and future bias," Games and Economic Behavior, Elsevier, vol. 71(2), pages 456-478, March.
    16. Arthur E. Attema & Werner B. F. Brouwer & Karl Claxton, 2018. "Discounting in Economic Evaluations," PharmacoEconomics, Springer, vol. 36(7), pages 745-758, July.
    17. Bech, Mickael, 2003. "Politicians' and hospital managers' trade-offs in the choice of reimbursement scheme: a discrete choice experiment," Health Policy, Elsevier, vol. 66(3), pages 261-275, December.
    18. Miraldo, M & Galizzi, M & Stavropoulou, C, 2013. "Doctor-patient differences in risk preferences, and their links to decision-making: a field experiment," Working Papers 12578, Imperial College, London, Imperial College Business School.
    19. McDonald, R.L. & Chilton, S.M. & Jones-Lee, M.W. & Metcalf, H.R.T., 2017. "Evidence of variable discount rates and non-standard discounting in mortality risk valuation," Journal of Environmental Economics and Management, Elsevier, vol. 82(C), pages 152-167.
    20. Kara Hanson & Barbara McPake & Pamela Nakamba & Luke Archard, 2005. "Preferences for hospital quality in Zambia: results from a discrete choice experiment," Health Economics, John Wiley & Sons, Ltd., vol. 14(7), pages 687-701, July.
    21. Bart Neuts, 2016. "An econometric approach to crowding in touristic city centres," Tourism Economics, , vol. 22(5), pages 1055-1074, October.
    22. Vasquez-Lavín, Felipe & Ponce Oliva, Roberto D. & Hernández, José Ignacio & Gelcich, Stefan & Carrasco, Moisés & Quiroga, Miguel, 2019. "Exploring dual discount rates for ecosystem services: Evidence from a marine protected area network," Resource and Energy Economics, Elsevier, vol. 55(C), pages 63-80.
    23. K. R. Shanmugam, 2011. "Discount Rate for Health Benefits and the Value of Life in India," Working Papers id:4524, eSocialSciences.

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