The internal consistency of the standard gamble: tests after adjusting for prospect theory.

Abstract:

:This article reports a study that tests whether the internal consistency of the standard gamble can be improved upon by incorporating loss weighting and probability transformation parameters in the standard gamble valuation procedure. Five alternatives to the standard EU formulation are considered: (1) probability transformation within an EU framework; and, within a prospect theory framework, (2) loss weighting and full probability transformation, (3) no loss weighting and full probability transformation, (4) loss weighting and no probability transformation, and (5) loss weighting and partial probability transformation. Of the five alternatives, only the prospect theory formulation with loss weighting and no probability transformation offers an improvement in internal consistency over the standard EU valuation procedure.

journal_name

J Health Econ

authors

Oliver A

doi

10.1016/S0167-6296(03)00023-7

subject

Has Abstract

pub_date

2003-07-01 00:00:00

pages

659-74

issue

4

eissn

0167-6296

issn

1879-1646

pii

S0167-6296(03)00023-7

journal_volume

22

pub_type

杂志文章
  • Estimating treatment cost functions for progressive diseases: a multiproduct approach with an application to breast cancer.

    abstract::Using the theory of multiproduct cost functions, a treatment cost function is derived for diseases which progress through a number of stages. The output classes are conceived as the stages at detection of the disease, with the unit of output within each class being the treated case. The derivation clarifies the assump...

    journal_title:Journal of health economics

    pub_type: 杂志文章

    doi:10.1016/0167-6296(95)00007-5

    authors: Butler JR,Furnival CM,Hart RF

    更新日期:1995-08-01 00:00:00

  • Having the wrong friends? Peer effects in adolescent substance use.

    abstract::Swedish cross-sectional survey data on young individuals aged 12-18-year-old was used to analyse school-class based peer effects in binge drinking, smoking and illicit-drug use. Significant and positive peer effects were found for all three activities. By introducing school/grade fixed effects, the estimated peer effe...

    journal_title:Journal of health economics

    pub_type: 杂志文章

    doi:10.1016/j.jhealeco.2005.02.001

    authors: Lundborg P

    更新日期:2006-03-01 00:00:00

  • Economics, health and health economics: HYEs (healthy-years equivalent) versus QALYs (quality-adjusted live-year)

    abstract::This paper responds to Culyer and Wagstaff's (CW) and Buckingham's (B) arguments. We refute their claim about the equivalence of HYEs and QALYs; they fail to distinguish between choice under uncertainty and under certainty. CW assume that all individuals have a specific form of utility function, which yields their con...

    journal_title:Journal of health economics

    pub_type: 杂志文章

    doi:10.1016/0167-6296(93)90015-7

    authors: Gafni A,Birch S,Mehrez A

    更新日期:1993-10-01 00:00:00

  • Provider practice style and patient health outcomes: The case of heart attacks.

    abstract::When a patient arrives at the Emergency Room with acute myocardial infarction (AMI), the provider on duty must quickly decide how aggressively the patient should be treated. Using Florida data on all such patients from 1992 to 2014, we decompose practice style into two components: The provider's probability of conduct...

    journal_title:Journal of health economics

    pub_type: 杂志文章

    doi:10.1016/j.jhealeco.2016.01.013

    authors: Currie J,MacLeod WB,Van Parys J

    更新日期:2016-05-01 00:00:00

  • How far to the hospital? The effect of hospital closures on access to care.

    abstract::Do urban hospital closures affect health care access or health outcomes? We study closures in Los Angeles County between 1997 and 2003, through their effect on distance to the nearest hospital. We find that increased distance to the closest hospital increases deaths from heart attacks and unintentional injuries. This ...

    journal_title:Journal of health economics

    pub_type: 杂志文章

    doi:10.1016/j.jhealeco.2005.10.006

    authors: Buchmueller TC,Jacobson M,Wold C

    更新日期:2006-07-01 00:00:00

  • Medical malpractice liability and its effect on prenatal care utilization and infant health.

    abstract::In this paper we conduct the first national evaluation of the effect of malpractice liability pressure, as measured by malpractice premiums, on prenatal care utilization and infant health. Our results indicate that a decrease in malpractice premiums that would result from a feasible policy reform would lead to a decre...

    journal_title:Journal of health economics

    pub_type: 杂志文章

    doi:10.1016/s0167-6296(01)00082-0

    authors: Dubay L,Kaestne R,Waidmann T

    更新日期:2001-07-01 00:00:00

  • Using a discrete choice experiment to elicit the demand for a nutritious food: willingness-to-pay for orange maize in rural Zambia.

    abstract::Using a discrete choice experiment, this paper estimates the willingness to pay for biofortified orange maize in rural Zambia. The study design has five treatment arms, which enable an analysis of the impact of nutrition information, comparing the use of simulated radio versus community leaders in transmitting the nut...

    journal_title:Journal of health economics

    pub_type: 杂志文章

    doi:10.1016/j.jhealeco.2012.01.002

    authors: Meenakshi JV,Banerji A,Manyong V,Tomlins K,Mittal N,Hamukwala P

    更新日期:2012-01-01 00:00:00

  • Narrow provider networks and willingness to pay for continuity of care and network breadth.

    abstract::Tiered and narrow provider networks are mechanisms implemented by health plans to reduce health care costs. The benefits of narrow networks for consumers usually come in the form of lower premiums in exchange for access to fewer providers. Narrow networks may disrupt continuity of care and access to usual sources of c...

    journal_title:Journal of health economics

    pub_type: 杂志文章

    doi:10.1016/j.jhealeco.2018.06.006

    authors: Higuera L,Carlin CS,Dowd B

    更新日期:2018-07-01 00:00:00

  • The virtuous tax: lifesaving and crime-prevention effects of the 1991 federal alcohol-tax increase.

    abstract::The last time that federal excise taxes on alcoholic beverages were increased was 1991. The changes were larger than the typical state-level changes that have been used to study price effects, but the consequences have not been assessed due to the lack of a control group. Here we develop and implement a novel method f...

    journal_title:Journal of health economics

    pub_type: 杂志文章

    doi:10.1016/j.jhealeco.2012.11.003

    authors: Cook PJ,Durrance CP

    更新日期:2013-01-01 00:00:00

  • Treatment decisions under ambiguity.

    abstract::Many health risks are ambiguous in the sense that reliable and credible information about these risks is unavailable. In health economics, ambiguity is usually handled through sensitivity analysis, which implicitly assumes that people are neutral towards ambiguity. However, empirical evidence suggests that people are ...

    journal_title:Journal of health economics

    pub_type: 杂志文章

    doi:10.1016/j.jhealeco.2013.02.001

    authors: Berger L,Bleichrodt H,Eeckhoudt L

    更新日期:2013-05-01 00:00:00

  • Demand elasticities and service selection incentives among competing private health plans.

    abstract::We examine selection incentives by health plans while refining the selection index of McGuire et al. (2014) to reflect not only service predictability and predictiveness but also variation in cost sharing, risk-adjusted profits, profit margins, and newly-refined demand elasticities across 26 disaggregated types of ser...

    journal_title:Journal of health economics

    pub_type: 杂志文章

    doi:10.1016/j.jhealeco.2017.09.006

    authors: Ellis RP,Martins B,Zhu W

    更新日期:2017-12-01 00:00:00

  • Overworked? On the relationship between workload and health worker performance.

    abstract::The shortage of health workers in many low-income countries poses a threat to the quality of health services. When the number of patients per health worker grows sufficiently high, there will be insufficient time to diagnose and treat all patients adequately. This paper tests the hypothesis that high caseload reduces ...

    journal_title:Journal of health economics

    pub_type: 杂志文章

    doi:10.1016/j.jhealeco.2010.05.006

    authors: Maestad O,Torsvik G,Aakvik A

    更新日期:2010-09-01 00:00:00

  • The social value of mortality risk reduction: VSL versus the social welfare function approach.

    abstract::We examine how different welfarist frameworks evaluate the social value of mortality risk reduction. These frameworks include classical, distributively unweighted cost-benefit analysis--i.e., the "value per statistical life" (VSL) approach-and various social welfare functions (SWFs). The SWFs are either utilitarian or...

    journal_title:Journal of health economics

    pub_type: 杂志文章

    doi:10.1016/j.jhealeco.2014.02.001

    authors: Adler MD,Hammitt JK,Treich N

    更新日期:2014-05-01 00:00:00

  • On the use of survival analysis techniques to estimate medical care costs.

    abstract::Measurement of treatment costs is important in the evaluation of medical interventions. Accurate cost estimation is problematic, when cost records are incomplete. Methods from the survival analysis literature have been proposed for estimating costs using available data. In this article, we clarify assumptions necessar...

    journal_title:Journal of health economics

    pub_type: 杂志文章

    doi:10.1016/s0167-6296(98)00056-3

    authors: Etzioni RD,Feuer EJ,Sullivan SD,Lin D,Hu C,Ramsey SD

    更新日期:1999-06-01 00:00:00

  • Note. Evaluating exclusionary interventions.

    abstract::In evaluation research, some interventions are designed to affect both the subjects that receive the intervention and those that do not. Preferred provider organizations (PPOs) are an example, because if they are successful, PPOs will direct patients away from non-preferred providers towards preferred providers. When ...

    journal_title:Journal of health economics

    pub_type: 杂志文章

    doi:10.1016/0167-6296(91)90034-k

    authors: Dowd B,Feldman R

    更新日期:1991-10-01 00:00:00

  • Financial incentives in health: New evidence from India's Janani Suraksha Yojana.

    abstract::This paper studies the health effects of one of the world's largest demand-side financial incentive programmes--India's Janani Suraksha Yojana. Our difference-in-difference estimates exploit heterogeneity in the implementation of the financial incentive programme across districts. We find that cash incentives to women...

    journal_title:Journal of health economics

    pub_type: 杂志文章

    doi:10.1016/j.jhealeco.2015.07.001

    authors: Powell-Jackson T,Mazumdar S,Mills A

    更新日期:2015-09-01 00:00:00

  • Do increased premium subsidies affect how much health insurance is purchased? Evidence from the self-employed.

    abstract::This paper estimates the effect of recent federal and state level increases in the deductibility of health insurance premiums for self-employed individuals, which reduced the after-tax price of health insurance, on both the take-up of coverage and the amount of insurance purchased. Using a panel of tax returns filed b...

    journal_title:Journal of health economics

    pub_type: 杂志文章

    doi:10.1016/j.jhealeco.2009.07.002

    authors: Heim BT,Lurie IZ

    更新日期:2009-12-01 00:00:00

  • Valuing health states: a comparison of methods.

    abstract::In eliciting health state valuations, two widely used methods are the standard gamble (SG) and the time trade off (TTO). Both methods make assumptions about individual preferences that are too restrictive to allow them to act as perfect proxies for utility. Therefore, a choice between them might instead be made on emp...

    journal_title:Journal of health economics

    pub_type: 杂志文章

    doi:10.1016/0167-6296(95)00038-0

    authors: Dolan P,Gudex C,Kind P,Williams A

    更新日期:1996-04-01 00:00:00

  • Defining health inequality: why Rawls succeeds where social welfare theory fails.

    abstract::While there has been an important increase in methodological and empirical studies on health inequality, not much has been written on the theoretical foundation of health inequality measurement. We discuss several reasons why the classic welfare approach, which is the foundation of income inequality analysis, fails to...

    journal_title:Journal of health economics

    pub_type: 杂志文章

    doi:10.1016/s0167-6296(01)00138-2

    authors: Bommier A,Stecklov G

    更新日期:2002-05-01 00:00:00

  • An evaluation of Medicaid selective contracting in California.

    abstract::This study used 1982-1986 data on 262 private community hospitals to evaluate the effects of selective contracting for inpatient services by California's Medicaid program. Selective contracting by Medicaid significantly reduced the rate of inflation in average costs per admission and per patient day, while slightly in...

    journal_title:Journal of health economics

    pub_type: 杂志文章

    doi:10.1016/0167-6296(90)90025-x

    authors: Robinson JC,Phibbs CS

    更新日期:1989-01-01 00:00:00

  • On the estimation of hospital cost functions.

    abstract::Data from 166 general hospitals in New York State (1981) is used to estimate a quadratic and logarithmic long-run cost function. Both equations fit the data very well but give very different results. The quadratic appears in confirm the commonly-held view of a shallow U-shaped average cost curve, whereas the log funct...

    journal_title:Journal of health economics

    pub_type: 杂志文章

    doi:10.1016/0167-6296(87)90018-x

    authors: Vitaliano DF

    更新日期:1987-12-01 00:00:00

  • The growth of public health expenditures in OECD countries: do government ideology and electoral motives matter?

    abstract::This paper empirically evaluates whether government ideology and electoral motives influenced the growth of public health expenditures in 18 OECD countries over the 1971-2004 period. The results suggest that incumbents behaved opportunistically and increased the growth of public health expenditures in election years. ...

    journal_title:Journal of health economics

    pub_type: 杂志文章

    doi:10.1016/j.jhealeco.2010.07.008

    authors: Potrafke N

    更新日期:2010-12-01 00:00:00

  • Health dynamics shape life-cycle incomes.

    abstract::This paper empirically investigates the long-run effects of major health improvements on income growth in the United States. To isolate exogenous changes in health, the econometric model uses quasi-experimental variation in cardiovascular disease mortality across states over time. Based on data for the white populatio...

    journal_title:Journal of health economics

    pub_type: 杂志文章

    doi:10.1016/j.jhealeco.2020.102398

    authors: Kotschy R

    更新日期:2021-01-01 00:00:00

  • The internet and children's psychological wellbeing.

    abstract::Late childhood and adolescence is a critical time for social and emotional development. Over the past two decades, this life stage has been hugely affected by the almost universal adoption of the internet as a source of information, communication, and entertainment. We use a large representative sample of over 6300 ch...

    journal_title:Journal of health economics

    pub_type: 杂志文章

    doi:10.1016/j.jhealeco.2019.102274

    authors: McDool E,Powell P,Roberts J,Taylor K

    更新日期:2020-01-01 00:00:00

  • The long-term health impacts of Medicaid and CHIP.

    abstract::This paper estimates the effect of US public health insurance programs for children on health. Previous work in this area has typically focused on the relationship between current program eligibility and current health. But because health is a stock variable which reflects the cumulative influence of health inputs, it...

    journal_title:Journal of health economics

    pub_type: 杂志文章

    doi:10.1016/j.jhealeco.2016.12.003

    authors: Thompson O

    更新日期:2017-01-01 00:00:00

  • The effect of physician-hospital affiliations on hospital prices in California.

    abstract::During the 1990s, a record number of U.S. hospitals entered into some form of vertical combination with physicians. During the same period, many integrated hospital-physician arrangements broke up. Using data from California, we investigate whether such vertical activity affected hospital pricing. We find that neither...

    journal_title:Journal of health economics

    pub_type: 杂志文章

    doi:10.1016/j.jhealeco.2005.04.008

    authors: Ciliberto F,Dranove D

    更新日期:2006-01-01 00:00:00

  • Firm-sponsored general education and mobility frictions: evidence from hospital sponsorship of nursing schools and faculty.

    abstract::This study asks why hospitals provide direct financial support to nursing schools and faculty. This support is striking because nursing education is clearly general, clearly paid by the firm, and information asymmetries appear minimal. Using AHA and survey data, I find hospitals employing a greater share of their MSA'...

    journal_title:Journal of health economics

    pub_type: 杂志文章

    doi:10.1016/j.jhealeco.2012.09.002

    authors: Benson A

    更新日期:2013-01-01 00:00:00

  • The changing effects of competition on non-profit and for-profit hospital pricing behavior.

    abstract::Has the nature of hospital competition changed from a medical arms race in which hospitals compete for patients by offering their doctors high quality services to a price war for the patients of payors? This paper uses time-series cross-sectional methods on California hospital discharge data from 1986-1994 to show the...

    journal_title:Journal of health economics

    pub_type: 杂志文章

    doi:10.1016/s0167-6296(98)00036-8

    authors: Keeler EB,Melnick G,Zwanziger J

    更新日期:1999-01-01 00:00:00

  • Simulation sample sizes for Monte Carlo partial EVPI calculations.

    abstract::Partial expected value of perfect information (EVPI) quantifies the value of removing uncertainty about unknown parameters in a decision model. EVPIs can be computed via Monte Carlo methods. An outer loop samples values of the parameters of interest, and an inner loop samples the remaining parameters from their condit...

    journal_title:Journal of health economics

    pub_type: 杂志文章

    doi:10.1016/j.jhealeco.2010.03.006

    authors: Oakley JE,Brennan A,Tappenden P,Chilcott J

    更新日期:2010-05-01 00:00:00

  • Pro-cyclical mortality across socioeconomic groups and health status.

    abstract::Using variation across geographic regions, a number of studies from the U.S. and other developed countries have found more deaths in economic upturns and less deaths in economic downturns. We use data from regions in Norway for 1977-2008 and find the same pro-cyclical patterns. Using individual-level register data for...

    journal_title:Journal of health economics

    pub_type: 杂志文章

    doi:10.1016/j.jhealeco.2014.08.005

    authors: Haaland VF,Telle K

    更新日期:2015-01-01 00:00:00