Your right arm for a publication in AER?

Attema, Arthur and Brouwer, Werner and van Exel, J (2012): Your right arm for a publication in AER?

Abstract

The time tradeoff (TTO) method is popular in medical decision making for valuing health states. We use it to elicit economists’ preferences for publishing in top economic journals and living without limbs. The economists value the journals highly, and have a clear preference between them, with American Economic Review (AER) the most preferred. Their responses imply they would sacrifice more than half a thumb for publishing in AER. The TTO results are consistent with ranking and willingness to pay results, and indicate that preferences for journals are neither guided by influence factors, nor by expectations of a resulting salary rise.

• Item Type: MPRA Paper
• Language: English
• Keywords: Utility Measurement; Time Tradeoff; Willingness to pay; Publications
• Subjects: A - General Economics and Teaching > A1 - General Economics > A10 - General; B - History of Economic Thought, Methodology, and Heterodox Approaches > B4 - Economic Methodology > B41 - Economic Methodology; I - Health, Education, and Welfare > I1 - Health > I10 - General

References

Arrow, Kenneth J., and Robert C. Lind. 1970. "Uncertainty and the Evaluation of Public Investment Decisions." The American Economic Review, 60(3): pp. 364-378.

Arrow, Kenneth J., R. M. Solow, Paul R. Portney, Edward E. Leamer, Roy Radner, and Howard Schuman. 1993. "Report of the NOAA Panel on contingent valuation." Federal Register, 58(10): 4601-4614.

Attema, Arthur E., Han Bleichrodt, and Peter P. Wakker. forthcoming. "A direct method for measuring discounting and QALYs more easily and reliably." Medical Decision Making.

Bostic, Raphael, Richard J. Herrnstein, and R. D. Luce. 1990. "The effect on the preference-reversal phenomenon of using choice indifferences." Journal of Economic Behavior & Organization, 13(2): 193-212.

Brookshire, David S., and Don L. Coursey. 1987. "Measuring the Value of a Public Good: An Empirical Comparison of Elicitation Procedures." The American Economic Review, 77(4): pp. 554-566.

Dardis, Rachel. 1980. "The Value of a Life: New Evidence from the Marketplace." The American Economic Review, 70(5): pp. 1077-1082.

Dolan, Paul, Claire Gudex, Paul Kind, and Alan Williams. 1996. "The time trade-off method: Results from a general population study." Health Economics, 5(2): 141-154.

Kahneman, Daniel, and Amos Tversky. 1979. "Prospect Theory: An Analysis of Decision under Risk." Econometrica, 47(2): 263-291.

Knetsch, Jack L. 1989. "The Endowment Effect and Evidence of Nonreversible Indifference Curves." The American Economic Review, 79(5): 1277-1284.

Lamers, Leida M., Joseph McDonnell, Peep F. M. Stalmeier, Paul F. M. Krabbe, and Jan J. V. Busschbach. 2006. "The Dutch tariff: results and arguments for an effective design for national EQ-5D valuation studies." Health Economics, 15(10): 1121-1132.

Torrance, George W., Warren H. Thomas, and David L. Sackett. 1972. "A utility maximization model for evaluation of health care programs." Health Services Research, 7(2): 118-133.

Tversky, Amos, and Daniel Kahneman. 1991. "Loss aversion in riskless choice: A reference-dependent model." Quarterly Journal of Economics, 106(4): 1039-1061.