Valuing Health States of the Korean EQ-5D Using Time Trade-Off

Posted: 28 Jun 2007

See all articles by Eunjeong Kang

Eunjeong Kang

Korea Institute for Health and Social Affairs (KIHASA)

Hosung Shin

affiliation not provided to SSRN


There is a need for economic evaluations in order for the efficient use of the limited resources and for evidence-based public health policies. QALY is an important tool for evidence-based policies. In order to calculate QALY, we need a value set for various health states. The purpose of this study was to obtain value scores for the 243 health states of the Korean EQ-5D. We evaluated 17 states out of the 243 states of the Korean EQ-5D by time trade-off method. We followed the MVH protocol as the survey method. The final sample included 287 individuals, who were asked to complete the time trade-off exercises for all the 17 states. To find a right model, we tried various models using many interaction terms and combinations of them that had been used in the previous studies. We also compared results from random effect model and fixed effect model for a given model. We found two random effect models that produced exactly the same value set of the 243 health states which were logically consistent. Both models included an interaction term which was the square of one less than the number of level-two's. Slightly different interaction terms for the level-three were included in the two models: one was N3, the number of level-three's and the other was I3, one less than the number of level-three's. In both model, the main effect of the level two for Mobility was not significant, which warranted an investigation of the validity of the translation for this dimension. In conclusion, the valuation model for the Korean EQ-5D was different from the previous models found in other countries. The study results can be useful in estimating health-adjusted life expectancy and conducting cost-utility analyses in Korea.

Keywords: valuation, Korean EQ-5D, time trade-off

JEL Classification: I19

Suggested Citation

Kang, Eunjeong and Shin, Hosung, Valuing Health States of the Korean EQ-5D Using Time Trade-Off. iHEA 2007 6th World Congress: Explorations in Health Economics Paper. Available at SSRN:

Eunjeong Kang (Contact Author)

Korea Institute for Health and Social Affairs (KIHASA) ( email )

United States
82-2-380-8195 (Phone)

Hosung Shin

affiliation not provided to SSRN ( email )

No Address Available

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