Choosing from multiple alternatives in cost-effectiveness analysis with fuzzy willingness-to-pay/accept and uncertainty
dc.contributor.author | Jakubczyk, Michał | |
dc.date.accessioned | 2023-07-18T10:22:36Z | |
dc.date.available | 2023-07-18T10:22:36Z | |
dc.date.issued | 2016-04 | |
dc.identifier.citation | Jakubczyk M., Choosing from multiple alternatives in cost-effectiveness analysis with fuzzy willingness-to-pay/accept and uncertainty, " KAE Working Papers", 2016, nr 2016-005, s. 1-31 | en |
dc.identifier.uri | http://hdl.handle.net/20.500.12182/1082 | |
dc.description.abstract | Cost-effectiveness analysis of medical technologies requires valuing health, an uneasy task, as confirmed by variability of published estimates. Treating the willingness-to-pay/accept (WTP/WTA) as fuzzy seems an intuitive solution. Based on this premise, I construct a framework allowing to compare multiple health technologies using choice functions. The final choice must be crisp, so I discuss various defuzzification methods and show that using indecisiveness point (IP) for WTP/WTA (the value the decision maker equally approves/disapproves) has desirable properties: satisfying the independence of irrelevant alternatives and not treating the Likert scale as interval. I suggest three approaches to infer about IP with Likert-based surveys in random samples (hypothesis testing, Bayesian or frequentist estimation). No difference between IPs for WTP/WTA is found, and an explanation of the WTP-WTA disparity is provided. Estimating IP results in stochastic uncertainty, and I show how to conduct sensitivity analysis in the framework and what new insight is gained. | en |
dc.language.iso | en | |
dc.rights | Dozwolony użytek | * |
dc.subject | Willingness-to-pay/accept | en |
dc.subject | Fuzzy sets | en |
dc.subject | Preference elicitation | en |
dc.subject | Cost-effectiveness analysis | en |
dc.subject | Sensitivity analysis | en |
dc.subject.classification | C44 | en |
dc.subject.classification | C13 | en |
dc.subject.classification | D81 | en |
dc.subject.classification | D61 | en |
dc.title | Choosing from multiple alternatives in cost-effectiveness analysis with fuzzy willingness-to-pay/accept and uncertainty | en |
dc.type | workingPaper | en |
dc.description.number | 2016-006 | en |
dc.description.physical | 1-31 | en |
dc.description.series | SGH KAE Working Papers Series | en |
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