AN AUSTRALIAN DISCRETE CHOICE EXPERIMENT TO VALUE EQ-5D HEALTH STATES

SUMMARY Conventionally, generic quality-of-life health states, defined within multi-attribute utility instruments, have been valued using a Standard Gamble or a Time Trade-Off. Both are grounded in expected utility theory but impose strong assumptions about the form of the utility function. Preference elicitation tasks for both are complicated, limiting the number of health states that each respondent can value and, therefore, that can be valued overall. The usual approach has been to value a set of the possible health states and impute values for the remainder.

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AN AUSTRALIAN DISCRETE CHOICE EXPERIMENT TO VALUE EQ-5D HEALTH STATES