Journal of Health Economics, vol 22, pp. 1037 – 1052. (2003).
Autores: Han Bleichrodt, Jose Luis Pinto, José María Abellán-Perpiñán.
Abstract:
This paper tests the internal consistency of time trade-off utilities. We find significant violationsof consistency in the direction predicted by loss aversion. The violations disappear for higher gaugedurations. We show that loss aversion can also explain that for short gauge durations time trade-offutilities exceed standard gamble utilities.
Our results suggest that time trade-off measurements thatuse relatively short gauge durations, like the widely used EuroQol algorithm, are affected by lossaversion and lead to utilities that are too high.