Health Economics Letter
WOULD YOU RATHER BE ILL NOW, OR LATER?
Article first published online: 11 DEC 2012
Copyright © 2012 John Wiley & Sons, Ltd.
Volume 22, Issue 12, pages 1496–1506, December 2013
How to Cite
Attema, A. E. and Versteegh, M. M. (2013), WOULD YOU RATHER BE ILL NOW, OR LATER?. Health Econ., 22: 1496–1506. doi: 10.1002/hec.2894
- Issue published online: 5 NOV 2013
- Article first published online: 11 DEC 2012
- Manuscript Accepted: 11 NOV 2012
- Manuscript Revised: 6 NOV 2012
- Manuscript Received: 5 APR 2012
- ZonMW. Grant Number: 152002039
- EuroQoL foundation
- time preference;
- lead time TTO;
- lag time TTO
The time tradeoff (TTO) method is frequently used to calculate the quality adjustment of the quality adjusted life year and is therefore an important element in the calculation of the benefits of medical interventions. New specifications of TTO, known as ‘lead time’ TTO and ‘lag time’ TTO, have been developed to overcome methodological issues of the ‘classic’ TTO. In the lead time TTO, ill-health is explicitly placed in the future, after a period of good health, whereas in lag time TTO, a health state starts immediately and is followed by a ‘lag time’ of good health. In this study, we take advantage of these timing properties of lead and lag time TTO. In particular, we use data from a previous study that employed lead and lag time TTO to estimate their implied discounting parameters. We show that individuals prefer being ill later, rather than now, with larger per-period discount rates for longer durations of the health states. Copyright © 2012 John Wiley & Sons, Ltd.