Time-trade-off
Time-trade-off
Time-trade-off (pronunciation: /taɪm treɪd ɒf/) is a method used in health economics to measure the quality of life and quality-adjusted life years (QALYs). This method is often used in cost-effectiveness analyses to compare the efficiency of different healthcare interventions.
Etymology
The term "time-trade-off" is derived from the concept that individuals are asked to trade off their time to gain better health status. The term was first used in the field of health economics in the late 20th century.
Method
In a time-trade-off exercise, an individual is asked to choose between remaining in a certain health state for a specific period of time, or living a shorter amount of time in perfect health. The time in perfect health is varied until the individual is indifferent between the two scenarios. The point of indifference is used to calculate the utility of the health state.
Related Terms
- Utility: In economics, utility is a measure of preferences over a set of goods and services. In the context of health economics, utility is often measured in terms of health-related quality of life.
- Cost-utility analysis: This is a form of economic analysis used to guide procurement decisions. The most common method is to use QALYs to quantify the benefit of a health care intervention.
- Preference-based measures: These are a type of patient-reported outcome measures that are used in the calculation of QALYs. Time-trade-off is a method to derive preference weights for these measures.
External links
- Medical encyclopedia article on Time-trade-off
- Wikipedia's article - Time-trade-off
This WikiMD dictionary article is a stub. You can help make it a full article.
Languages: - East Asian
中文,
日本,
한국어,
South Asian
हिन्दी,
Urdu,
বাংলা,
తెలుగు,
தமிழ்,
ಕನ್ನಡ,
Southeast Asian
Indonesian,
Vietnamese,
Thai,
မြန်မာဘာသာ,
European
español,
Deutsch,
français,
русский,
português do Brasil,
Italian,
polski