Multi-attribute utility function or statistical inference models: a comparison of health state valuation models using the HUI2 health state classification system.
A key issue in health state valuation modelling is the choice of functional form. The two most frequently used preference based instruments adopt different approaches; one based on multi-attribute utility theory (MAUT), the other on statistical analysis. There has been no comparison of these alternative approaches in the context of health economics. We report a comparison of these approaches for the health utilities index mark 2. The statistical inference model predicts more accurately than the one based on MAUT. We discuss possible explanations for the differences in performance, the importance of the findings, and implications for future research.
Stevens
Katherine
K
Health Economics and Decision Science (HEDS), University of Sheffield, Sheffield, UK. k.stevens@sheffield.ac.uk
McCabe
Christopher
C
Brazier
John
J
Roberts
Jennifer
J
D003627:Data Interpretation, Statistical; D005260:Female; D006304:Health Status; D006306:Health Surveys; D006801:Humans; D007407:Interviews as Topic; D008297:Male; D008875:Middle Aged; D008962:Models, Theoretical; D006113:United Kingdom