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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- Han Bleichrodt & Jose Luis Pinto-Prades, 2007. "A new preference reversal in health utility measurement," Economic Working Papers at Centro de Estudios Andaluces E2007/15, Centro de Estudios Andaluces.
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- 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.
- Starmer, Chris & Sugden, Robert, 1998. "Testing Alternative Explanations of Cyclical Choices," Economica, London School of Economics and Political Science, vol. 65(259), pages 347-61, August.
- Loomes, Graham & Taylor, Caron, 1992. "Non-transitive Preferences over Gains and Losses," Economic Journal, Royal Economic Society, vol. 102(411), pages 357-65, March.
- Robinson, Angela & Dolan, Paul & Williams, Alan, 1997. "Valuing health status using VAS and TTO: What lies behind the numbers?," Social Science & Medicine, Elsevier, vol. 45(8), pages 1289-1297, October.
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