title: A theoretical framework for TTO valuations of health.
abstract: This paper proposes a theoretical framework, drawing on Hicks utility theory, for the Time Trade-off (TTO) method conventionally used to value health states. We briefly describe that theory and posit four distinctive TTO valuation approaches suggested by it: each of compensating variation and equivalent variation for both gains and losses in health, with valuation of health states in each case derived from trade-offs between health and length of life. Recent developments and research on TTO valuation are placed in the context of this framework.
authors.affiliation: Department of Preventive and Social Medicine, Otago University, New Zealand.
authors.forename: Ken
authors.initials: K
authors.lastname: Buckingham
authors.forename: Nancy
authors.initials: N
authors.lastname: Devlin
mesh_terms: D001294:Attitude to Health; D006304:Health Status; D006801:Humans; D008136:Longevity; D008962:Models, Theoretical; D019057:Quality-Adjusted Life Years