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The Joint Effect of Social Comparison and Social Distance on Evaluation of Intertemporal Choice Outcomes in Event-related Potential Studies
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When are person tradeoffs valid?

Jason N Doctor1, John Miyamoto, Han Bleichrodt

  • 1Department of Clinical Pharmacy & Pharmaceutical Economics & Policy, School of Pharmacy, University of Southern California, Los Angeles, CA 90089-9004, USA. jdoctor@usc.edu

Journal of Health Economics
|August 18, 2009
PubMed
Summary
This summary is machine-generated.

This study provides a theoretical basis for the person tradeoff (PTO) method used in health economics. However, experimental testing found limited support for the validity of PTO measurements.

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Area of Science:

  • Health Economics
  • Decision Science
  • Behavioral Economics

Background:

  • The person tradeoff (PTO) is a widely applied method in health economic evaluations.
  • Currently, the PTO lacks a robust theoretical foundation, limiting its established validity.
  • This gap necessitates the development of theoretical underpinnings for its common applications.

Purpose of the Study:

  • To establish a theoretical basis for the person tradeoff (PTO) method.
  • To identify and justify the core assumptions underlying PTO measurements.
  • To evaluate the empirical validity of these assumptions in practical contexts.

Main Methods:

  • Theoretical analysis to derive assumptions for PTO.
  • Experimental design to test the identified central assumptions of PTO.
  • Statistical analysis of experimental data to assess assumption validity.

Main Results:

  • A theoretical framework for PTO was developed based on a set of assumptions.
  • Experimental results provided only limited empirical support for the validity of the PTO.
  • Key assumptions underlying common PTO applications were not consistently validated.

Conclusions:

  • While PTO is common in health economics, its theoretical basis is weak.
  • Empirical evidence suggests limitations in the validity of current PTO measurement assumptions.
  • Further research is needed to refine or replace PTO methods for reliable health economic evaluations.