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Updated: Jul 12, 2026

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
Published on: September 19, 2012
Using discrete choice experiments to estimate a preference-based measure of outcome--an application to social care
Mandy Ryan1, Ann Netten, Diane Skåtun
1Health Economics Research Unit, Institute of Applied Health Sciences, University of Aberdeen, Polwarth Building, Foresterhill, Aberdeen, United Kingdom. m.ryan@abdn.ac.uk <m.ryan@abdn.ac.uk>
Abstract:
This paper reports the results of a study that used discrete choice experiment (DCE) methodology to estimate quality weights for a of social care outcome measure. To reflect different states of need, a five-dimensional profile measure was developed. Experimental design techniques were used to derive a sample of states for which preferences were elicited. The DCE approach was employed to elicit values and regression techniques used to estimate a model that could predict index scores for all 243 possible outcomes. The utility model, estimated on the basis of 297 responses, had good test-retest reliability and converged with preferences elicited from a rating exercise.
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