위험관리 | Cases and Studies of Risk Management in Lottery & Gambling | 危險管理
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- Article] Visual analog scales, standard gambles, and relative risk aversion
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DocNo of ILP: 6601
Doc. Type: Article
Title: Visual analog scales, standard gambles, and relative risk aversion
Authors: Robinson, A; Loomes, G; Jones-Lee, M
Full Name of Authors: Robinson, A; Loomes, G; Jones-Lee, M
Keywords by Author: visual analog scales; standard gambles; measurable value functions; context effects; range-frequency theory
Keywords Plus: SOCIAL PREFERENCES; RATING-SCALES; HEALTH STATES; CHOICE
Abstract: Background. It has been argued that visual analog scales (VASs) elicit an individual's measurable value function. The theoretical link between an individual's measurable value function v(.) and his or her von Neumann-Morgenstern utility function u(.) appears to provide a justification for transforming VAS scores into standard gamble (SG) utilities. However, VAS scores have been found to be subject to the effects of context, which casts doubt that the procedure is properly revealing v(.). Methods. The authors tested for the effects of context on VAS and SG scores. They also explored whether the range-frequency (R-F) model of Parducci offers a means of correcting VAS scores for the effects of context. Results and conclusions. The R-F model may provide a means of correcting VAS scores for the effects of context, but no stable relationship exists between these corrected scores and SG utilities. Hence, there remain no grounds for transforming VAS scores into SG utilities. Key words: visual analog scales; standard gambles; measurable value functions; context effects; range-frequency theory.
Cate of OECD: Health sciences
Year of Publication: 2001
Business Area: gamble
Detail Business: gamble
Country: USA
Study Area:
Name of Journal: MEDICAL DECISION MAKING
Language: English
Country of Authors: Univ Newcastle Upon Tyne, Sch Med, Div Epidemiol & Publ Hlth, Newcastle Upon Tyne NE2 4HH, Tyne & Wear, England; Univ Newcastle Upon Tyne, Dept Econ, Newcastle Upon Tyne NE2 4HH, Tyne & Wear, England
Press Adress: Robinson, A (reprint author), Univ Newcastle Upon Tyne, Sch Med, Div Epidemiol & Publ Hlth, Newcastle Upon Tyne NE2 4HH, Tyne & Wear, England.
Email Address:
Citaion:
Funding:
Lists of Citation: Bleichrodt H, 1997, MED DECIS MAKING, V17, P208, DOI 10.1177/0272989X9701700212; CURRIM IS, 1984, MANAGE SCI, V30, P543, DOI 10.1287/mnsc.30.5.543; DYER JS, 1982, MANAGE SCI, V28, P875, DOI 10.1287/mnsc.28.8.875; DYER JS, 1979, OPER RES, V27, P810, DOI 10.1287/opre.27.4.810; JONESLEE M, 1993, WPSRC2 TRL; JONESLEE MW, 1994, WHAT DO VISUAL ANALO; KAHNEMAN D, 1979, ECONOMETRICA, V47, P263, DOI 10.2307/1914185; Keeney R.L., 1976, DECISIONS MULTIPLE O; Krantz D. H., 1971, FDN MEASUREMENT, V1; PARDUCCI A, 1986, J EXP PSYCHOL HUMAN, V12, P496, DOI 10.1037/0096-1523.12.4.496; PARDUCCI A, 1983, MODERN TRENDS PERCEP; Schwartz A, 1998, MED DECIS MAKING, V18, P236; SLOVIC P, 1975, J EXP PSYCHOL HUMAN, V1, P280, DOI 10.1037/0096-1523.1.3.280; TORRANCE GW, 1982, OPER RES, V30, P1043, DOI 10.1287/opre.30.6.1043; TORRANCE GW, 1976, SOCIO ECON PLAN SCI, V10, P129, DOI 10.1016/0038-0121(76)90036-7; TVERSKY A, 1988, PSYCHOL REV, V95, P371, DOI 10.1037//0033-295X.95.3.371
Number of Citaion: 16
Publication: SAGE PUBLICATIONS INC
City of Publication: THOUSAND OAKS
Address of Publication: 2455 TELLER RD, THOUSAND OAKS, CA 91320 USA
ISSN: 0272-989X
29-Character Source Abbreviation: MED DECIS MAKING
ISO Source Abbreviation: Med. Decis. Mak.
Volume: 21
Version: 1
Start of File: 17
End of File: 27
DOI:
Number of Pages: 11
Web of Science Category: Health Care Sciences & Services; Medical Informatics
Subject Category: Health Care Sciences & Services; Medical Informatics
Document Delivery Number: 469EL
Unique Article Identifier: WOS:000170801600003
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