Transitivity in health utility measurement: An experimental analysis
Several experimental studies have observed substantial violations of transitivity for decisions between risky lotteries over monetary outcomes. The goal of our experiment is to test whether these violations also affect the evaluation of health states. A particular feature of our experimental design is that it takes into account the possible role of decision errors for generating violations of transitivity. Since we find neither substantial nor systematic deviations from transitive choice behaviour, we can conclude that previously reported violations do not seem to bias health utility measurement. Copyright Schmidt and Stolpe; licensee Springer. 2011
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Volume (Year): 1 (2011)
Issue (Month): 1 (December)
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References listed on IDEAS
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- Michael Birnbaum & Ulrich Schmidt, 2008.
"An experimental investigation of violations of transitivity in choice under uncertainty,"
Journal of Risk and Uncertainty,
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- Chris Starmer, 1999. "Cycling with Rules of Thumb: An Experimental Test for a new form of Non-Transitive Behaviour," Theory and Decision, Springer, vol. 46(2), pages 139-157, April.
- Loomes, Graham & Starmer, Chris & Sugden, Robert, 1989. "Preference Reversal: Information-Processing Effect or Rational Non-transitive Choice?," Economic Journal, Royal Economic Society, vol. 99(395), pages 140-51, Supplemen.
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