Prospect theory in the health domain: A quantitative assessment

B-Tier
Journal: Journal of Health Economics
Year: 2013
Volume: 32
Issue: 6
Pages: 1057-1065

Score contribution per author:

0.670 = (α=2.01 / 3 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

It is well-known that expected utility (EU) has empirical deficiencies. Cumulative prospect theory (CPT) has developed as an alternative with more descriptive validity. However, CPT's full function had not yet been quantified in the health domain. This paper is therefore the first to simultaneously measure utility of life duration, probability weighting, and loss aversion in this domain.

Technical Details

RePEc Handle
repec:eee:jhecon:v:32:y:2013:i:6:p:1057-1065
Journal Field
Health
Author Count
3
Added to Database
2026-01-24