Abstract:
:This paper directly compares the relative sensitivity of time-trade-off (TTO) and willingness-to-pay (WTP) values obtained for various levels of change in health status. This was achieved by administering a TTO and WTP survey to a population of 50 subjects, assessing their valuation of various degrees of change in health status. It was found that, overall, WTP is more sensitive than TTO in distinguishing between different dimensions of health at the same nominal level of health status (only four WTP values not significantly different, compared with eight TTO values). In addition, WTP was also more sensitive to differences in quality of life between different levels of health within each dimension (all values significantly different from each other, with TTO yielding three insignificant relationships). These results tentatively suggest, therefore, that WTP seems to be a more sensitive measure of change in health status than TTO.
journal_name
Health Econjournal_title
Health economicsauthors
Smith RDdoi
10.1002/hec.604keywords:
subject
Has Abstractpub_date
2001-09-01 00:00:00pages
487-97issue
6eissn
1057-9230issn
1099-1050pii
10.1002/hec.604journal_volume
10pub_type
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