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The Implications of Linking Questions within the SG and TTO Methods

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  • Anne Spencer

    (Queen Mary, University of London)

Abstract

We consider the impact of introducing intermediate stages, chained together, into the Standard Gamble (SG) and Time Trade-Off (TTO) methods. We broadly replicate the patterns of responses observed in other SG studies. Less is known about the impact of intermediate stages, chained together, in the TTO method. We find that the TTO responses do not replicate the patterns found in the SG responses. We discuss additional issues that are brought to bear in the TTO responses compared to the SG responses and consider whether these can account for the different results.

Suggested Citation

  • Anne Spencer, 2001. "The Implications of Linking Questions within the SG and TTO Methods," Working Papers 438, Queen Mary University of London, School of Economics and Finance.
  • Handle: RePEc:qmw:qmwecw:wp438
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    File URL: http://www.econ.qmul.ac.uk/media/econ/research/workingpapers/archive/wp438.pdf
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    References listed on IDEAS

    as
    1. Susan Chilton & Anne Spencer, 2001. "Empirical evidence of inconsistency in Standard Gamble choices under direct and indirect elicitation methods," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 137(I), pages 65-86, March.
    2. Loewenstein, George, 1987. "Anticipation and the Valuation of Delayed Consumption," Economic Journal, Royal Economic Society, vol. 97(387), pages 666-684, September.
    3. Dolan, Paul & Jones-Lee, Michael, 1997. "The time trade-off: A note on the effect of lifetime reallocation of consumption and discounting," Journal of Health Economics, Elsevier, vol. 16(6), pages 731-739, December.
    4. 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.
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    More about this item

    Keywords

    Standard Gamble; Time Trade-Off; Chaining;

    JEL classification:

    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being

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