IDEAS home Printed from https://ideas.repec.org/a/spr/eujhec/v24y2023i2d10.1007_s10198-022-01466-6.html
   My bibliography  Save this article

Time and lexicographic preferences in the valuation of EQ-5D-Y with time trade-off methodology

Author

Listed:
  • Stefan A. Lipman

    (Erasmus University Rotterdam)

  • Liying Zhang

    (Erasmus University Rotterdam)

  • Koonal K. Shah

    (National Institute for Health and Care Excellence
    University of Sheffield
    PHMR Ltd)

  • Arthur E. Attema

    (Erasmus University Rotterdam)

Abstract

In the valuation of EQ-5D-Y-3L, adult respondents are asked to complete composite time trade-off (cTTO) tasks for a 10-year-old child. Earlier work has shown that cTTO utilities elicited in such a child perspective are generally higher than when adults take their own perspective. We explore how differences in time preference in child and adult perspectives could explain this effect. Furthermore, as cTTO valuation in a child perspective involves explicit consideration of immediate death for a child, we also consider how cTTO utilities could be affected by decision-makers lexicographically avoiding death in children. We report the results of an experiment in which 219 respondents valued 5 health states in both adult and child perspectives with either a standard cTTO or a lead-time TTO only approach, in which immediate death is less focal. Time preferences were measured in both perspectives. Our results suggest that utilities were lower when lead-time TTO, rather than cTTO, was used. We find large heterogeneity in time preference in both perspectives, with predominantly negative time preference. The influence of time preferences on utilities, however, was small, and correcting for time preferences did not reduce differences between utilities elicited in both perspectives. Surprisingly, we found more evidence for differences in utilities between adult and child perspectives when lead-time TTO was used. Overall, these results suggest that time and lexicographic preferences affect time trade-off valuation in child and adult perspectives, but are not the explanation for differences between these perspectives. We discuss the implications of our findings for EQ-5D-Y-3L valuation.

Suggested Citation

  • Stefan A. Lipman & Liying Zhang & Koonal K. Shah & Arthur E. Attema, 2023. "Time and lexicographic preferences in the valuation of EQ-5D-Y with time trade-off methodology," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 24(2), pages 293-305, March.
    • Handle: RePEc:spr:eujhec:v:24:y:2023:i:2:d:10.1007_s10198-022-01466-6
    DOI: 10.1007/s10198-022-01466-6
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s10198-022-01466-6
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s10198-022-01466-6?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Nancy Devlin & Ken Buckingham & Koonal Shah & Aki Tsuchiya & Carl Tilling & Grahame Wilkinson & Ben van Hout, 2013. "A Comparison Of Alternative Variants Of The Lead And Lag Time Tto," Health Economics, John Wiley & Sons, Ltd., vol. 22(5), pages 517-532, May.
    2. Stefan A. Lipman, 2021. "Time for Tele-TTO? Lessons Learned From Digital Interviewer-Assisted Time Trade-Off Data Collection," The Patient: Patient-Centered Outcomes Research, Springer;International Academy of Health Preference Research, vol. 14(5), pages 459-469, September.
    3. 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.
    4. Heather J. Sutherland & Hilary Llewellyn-Thomas & Norman F. Boyd & James E. Till, 1982. "Attitudes Toward Quality of Survival," Medical Decision Making, , vol. 2(3), pages 299-309, August.
    5. Valentina Prevolnik Rupel & Marko Ogorevc, 2021. "EQ-5D-Y Value Set for Slovenia," PharmacoEconomics, Springer, vol. 39(4), pages 463-471, April.
    6. Juan M. Ramos-Goñi & Mark Oppe & Elly Stolk & Koonal Shah & Simone Kreimeier & Oliver Rivero-Arias & Nancy Devlin, 2020. "International Valuation Protocol for the EQ-5D-Y-3L," PharmacoEconomics, Springer, vol. 38(7), pages 653-663, July.
    7. Arthur E. Attema & Han Bleichrodt & Olivier L’Haridon & Patrick Peretti-Watel & Valérie Seror, 2018. "Discounting health and money: New evidence using a more robust method," Journal of Risk and Uncertainty, Springer, vol. 56(2), pages 117-140, April.
    8. Joseph S. Pliskin & Donald S. Shepard & Milton C. Weinstein, 1980. "Utility Functions for Life Years and Health Status," Operations Research, INFORMS, vol. 28(1), pages 206-224, February.
    9. Lipman, Stefan A. & Brouwer, Werner B.F. & Attema, Arthur E., 2020. "Living up to expectations: Experimental tests of subjective life expectancy as reference point in time trade-off and standard gamble," Journal of Health Economics, Elsevier, vol. 71(C).
    10. Bas Janssen & Mark Oppe & Matthijs Versteegh & Elly Stolk, 2013. "Introducing the composite time trade-off: a test of feasibility and face validity," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 14(1), pages 5-13, July.
    11. Federico Augustovski & Lucila Rey-Ares & Vilma Irazola & Mark Oppe & Nancy Devlin, 2013. "Lead versus lag-time trade-off variants: does it make any difference?," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 14(1), pages 25-31, July.
    12. Marjon M. Van Der Pol & John A. Cairns, 2000. "Negative and zero time preference for health," Health Economics, John Wiley & Sons, Ltd., vol. 9(2), pages 171-175, March.
    13. Lowenstein, George & Prelec, Drazen, 1991. "Negative Time Preference," American Economic Review, American Economic Association, vol. 81(2), pages 347-352, May.
    14. Nancy J. Devlin & Richard Brooks, 2017. "EQ-5D and the EuroQol Group: Past, Present and Future," Applied Health Economics and Health Policy, Springer, vol. 15(2), pages 127-137, April.
    15. 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.
    16. Fenja V Ziegler & Richard J Tunney, 2012. "Decisions for Others Become Less Impulsive the Further Away They Are on the Family Tree," PLOS ONE, Public Library of Science, vol. 7(11), pages 1-5, November.
    17. Matthijs Versteegh & Arthur Attema & Mark Oppe & Nancy Devlin & Elly Stolk, 2013. "Time to tweak the TTO: results from a comparison of alternative specifications of the TTO," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 14(1), pages 43-51, July.
    18. A E Attema, 2012. "Developments in time preference and their implications for medical decision making," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 63(10), pages 1388-1399, October.
    19. Mark Oppe & Kim Rand-Hendriksen & Koonal Shah & Juan M. Ramos‐Goñi & Nan Luo, 2016. "EuroQol Protocols for Time Trade-Off Valuation of Health Outcomes," PharmacoEconomics, Springer, vol. 34(10), pages 993-1004, October.
    20. Koonal K. Shah & Juan Manuel Ramos-Goñi & Simone Kreimeier & Nancy J. Devlin, 2020. "An exploration of methods for obtaining 0 = dead anchors for latent scale EQ-5D-Y values," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 21(7), pages 1091-1103, September.
    21. Paul A. Samuelson, 1937. "A Note on Measurement of Utility," Review of Economic Studies, Oxford University Press, vol. 4(2), pages 155-161.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Stefan A. Lipman & Liying Zhang & Koonal K. Shah & Arthur E. Attema, 2022. "Correction to: Time and lexicographic preferences in the valuation of EQ-5D-Y with time trade-off methodology," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 23(9), pages 1613-1615, December.
    2. S. A. Lipman & V. T. Reckers-Droog & M. Karimi & M. Jakubczyk & A. E. Attema, 2021. "Self vs. other, child vs. adult. An experimental comparison of valuation perspectives for valuation of EQ-5D-Y-3L health states," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 22(9), pages 1507-1518, December.
    3. Attema, Arthur E. & Brouwer, Werner B.F., 2012. "A test of independence of discounting from quality of life," Journal of Health Economics, Elsevier, vol. 31(1), pages 22-34.
    4. Arthur E. Attema & Han Bleichrodt & Olivier L’Haridon & Patrick Peretti-Watel & Valérie Seror, 2018. "Discounting health and money: New evidence using a more robust method," Journal of Risk and Uncertainty, Springer, vol. 56(2), pages 117-140, April.
    5. Stefan A Lipman & Arthur E Attema, 2020. "Good things come to those who wait—Decreasing impatience for health gains and losses," PLOS ONE, Public Library of Science, vol. 15(3), pages 1-15, March.
    6. 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.
    7. Arthur E. Attema & Jona J. Frasch & Olivier L’Haridon, 2022. "Multivariate risk preferences in the quality‐adjusted life year model," Health Economics, John Wiley & Sons, Ltd., vol. 31(2), pages 382-398, February.
    8. Finch, Aureliano Paolo & Meregaglia, Michela & Ciani, Oriana & Roudijk, Bram & Jommi, Claudio, 2022. "An EQ-5D-5L value set for Italy using videoconferencing interviews and feasibility of a new mode of administration," Social Science & Medicine, Elsevier, vol. 292(C).
    9. Mohammed Abdellaoui & Cédric Gutierrez & Emmanuel Kemel, 2018. "Temporal discounting of gains and losses of time: An experimental investigation," Journal of Risk and Uncertainty, Springer, vol. 57(1), pages 1-28, August.
    10. Stefan A. Lipman & Arthur E. Attema & Matthijs M. Versteegh, 2022. "Correcting for discounting and loss aversion in composite time trade‐off," Health Economics, John Wiley & Sons, Ltd., vol. 31(8), pages 1633-1648, August.
    11. Giles W Story & Ivaylo Vlaev & Ben Seymour & Joel S Winston & Ara Darzi & Raymond J Dolan, 2013. "Dread and the Disvalue of Future Pain," PLOS Computational Biology, Public Library of Science, vol. 9(11), pages 1-18, November.
    12. Giles W Story & Ivo Vlaev & Peter Dayan & Ben Seymour & Ara Darzi & Raymond J Dolan, 2015. "Anticipation and Choice Heuristics in the Dynamic Consumption of Pain Relief," PLOS Computational Biology, Public Library of Science, vol. 11(3), pages 1-32, March.
    13. Arthur E. Attema & Marieke Krol & Job Exel & Werner B. F. Brouwer, 2018. "New findings from the time trade-off for income approach to elicit willingness to pay for a quality adjusted life year," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 19(2), pages 277-291, March.
    14. Pavlo R. Blavatskyy, 2022. "Intertemporal choice as a tradeoff between cumulative payoff and average delay," Journal of Risk and Uncertainty, Springer, vol. 64(1), pages 89-107, February.
    15. Peasgood, Tessa & Bourke, Mackenzie & Devlin, Nancy & Rowen, Donna & Yang, Yaling & Dalziel, Kim, 2023. "Randomised comparison of online interviews versus face-to-face interviews to value health states," Social Science & Medicine, Elsevier, vol. 323(C).
    16. Mohammed Abdellaoui & Han Bleichrodt & Olivier l'Haridon & Corina Paraschiv, 2013. "Is There One Unifying Concept of Utility?An Experimental Comparison of Utility Under Risk and Utility Over Time," Management Science, INFORMS, vol. 59(9), pages 2153-2169, September.
    17. Marjon Pol & Larissa Roux, 2005. "Time preference bias in time trade-off," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 6(2), pages 107-111, June.
    18. Koonal K. Shah & Juan Manuel Ramos-Goñi & Simone Kreimeier & Nancy J. Devlin, 2020. "An exploration of methods for obtaining 0 = dead anchors for latent scale EQ-5D-Y values," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 21(7), pages 1091-1103, September.
    19. 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.
    20. 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.

    More about this item

    Keywords

    Time trade-off; Health state valuation; EQ-5D-Y; Time preferences; Lexicographic preferences; Perspective;
    All these keywords.

    JEL classification:

    • I10 - Health, Education, and Welfare - - Health - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:eujhec:v:24:y:2023:i:2:d:10.1007_s10198-022-01466-6. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.