IDEAS home Printed from https://ideas.repec.org/a/sae/medema/v21y2001i1p57-59.html
   My bibliography  Save this article

Health Values and Prospect Theory

Author

Listed:
  • Diana Stratmann-Schoene

    (Department of Health Economics, University of Ulm, Germany)

  • Thomas Klose

    (Department of Health Economics, University of Ulm, Germany, thomas.klose@mathematik.uni-ulm.de)

Abstract

In a recent volume of Medical Decision Making, Treadwell and Lenert stated that under prospect theory, community members compared with patients underestimate the utility of health improvements. In this comment, the authors show that this statement holds only for a subset of possible preference functions. Furthermore, the authors provide arguments that, in general, the rater’s current health state is not the appropriate reference level if applying prospect theory to health valuations.

Suggested Citation

  • Diana Stratmann-Schoene & Thomas Klose, 2001. "Health Values and Prospect Theory," Medical Decision Making, , vol. 21(1), pages 57-59, February.
    • Handle: RePEc:sae:medema:v:21:y:2001:i:1:p:57-59
    DOI: 10.1177/0272989X0102100107
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/0272989X0102100107
    Download Restriction: no
    File URL: https://libkey.io/10.1177/0272989X0102100107?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Sean Murphy & Robert Rosenman & Jonathan Yoder & Daniel Friesner, 2011. "Patients' perceptions and treatment effectiveness," Applied Economics, Taylor & Francis Journals, vol. 43(24), pages 3275-3288.
    2. Matthias Wrede, 2005. "Health Values, Preference Inconsistency, and Insurance Demand," CESifo Working Paper Series 1634, CESifo.

    More about this item

    Keywords

    prospect theory; health state valuation;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:medema:v:21:y:2001:i:1:p:57-59. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.