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On the utility of gambling: extending the approach of Meginniss (1976)

✍ Scribed by Che Tat Ng; R. Duncan Luce; Anthony A. J. Marley

Book ID
118296553
Publisher
Springer
Year
2008
Tongue
English
Weight
288 KB
Volume
76
Category
Article
ISSN
0001-9054

No coin nor oath required. For personal study only.

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## Abstract Health effects for cost‐effectiveness analysis are best measured in life years, with quality of life in each life year expressed in terms of utilities. The standard gamble (SG) has been the gold standard for utility measurement. However, the biases of probability weighting, loss aversio