Econometric investigation of health preferences elicited using stated preference methods in adolescents

external supervisor

Miguel Ballester, Professor of Economics, University of Oxford

background

Valuing health is central to measuring the benefits of competing alternatives for the economic evaluation of health care technologies. Cost-utility analyses (where benefits are measured using quality-adjusted life years (QALYs)) are still preferred to assess value for money by international reimbursement organisations. The estimation of QALYs requires data on how individuals value health. In the context of paediatric populations, questions arise, such as whether society should incorporate the preferences of adolescents when valuing health for decision-making? Recent stakeholder consultations suggests so, and established stated preference methods such discrete choice experiments are typically used. However, evidence on the validity of these responses is mixed, and depends to a large degree on the model used to interpret and understand preferences. Thus, a detailed econometric investigation is needed to clarify the role of eliciting health preferences from adolescents for healthcare decision-making.  

RESEARCH EXPERIENCE, RESEARCH METHODS AND TRAINING

This project will involve a search of the econometric literature focused on the analysis of stated preferences in vulnerable populations. This search will help the student to identify key econometric methods (e.g. discrete choice modelling). The behavioural assumption currently used in all current applications – utility maximisation – will be examined, and alternative assumptions identified. The student may use existing models embodying alternative assumptions (e.g. Decision Field Theoretic models) or adapt existing econometric models to include behavioural heuristics in choice making. Econometric models will be estimated using data from health valuation studies estimating preferences for the paediatric health-related quality of life instrument EQ-5D-Y conducted using an international protocol in more than ten countries with around 1,000 individuals in each country.

FIELD WORK, SECONDMENTS, INDUSTRY PLACEMENTS AND TRAINING

Training in advanced statistics and econometric methods, programming, and scientific writing will be provided. Candidate will be encouraged to attend seminars, workshops and courses offered by the Department and the University. Training in advanced statistics and econometric methods, programming, and scientific writing will be provided. Candidate will be encouraged to attend seminars, workshops and courses offered by the department and the University. 

PROSPECTIVE  STUDENT

This project would suit a candidate with a strong interest in the econometric analysis of preferences using data from stated preference experiments. The candidate will have a background in economics, health economics or health policy with a proven record of quantitative skills (mathematics, statistics, economics) and experience in a research environment in an academic or private sector.