rvallee
Senior Member (Voting Rights)
I think I have a good idea for a simple test of value for subjective outcomes, and it's a simple question: would you do it again, or would you rather take $10 home?
The $10 value is arbitrary, it's an amount that isn't significant but still counts as able to buy a cheap meal or something that has little value but is helpful, even if at around 1/10. Hey, at least it isn't 0, basically. Could be $5. Whatever, it has to be significant but not worth doing or giving up much for it.
In my case, if I look at effective treatments that helped me and someone asked to either get $10 or never use it when needed, there are some where I would say thanks but I'll keep the medication/treatment, it's definitely worth more than $10.
That includes stuff like stretching. I do a lot of stretching during the day. No one is going to lose $10 to me by giving me the choice of either never stretching to soothe the muscle pain everywhere or enough money to just about buy a cheap meal. Same with ginger for nausea and Pepcid for GI issues. When it works it works.
For CBT and GET, I assume that over 90% would choose the money every time, and that's probably a massive undercount. It could be a standard in a trial, at the end participants can choose to keep trying the treatment or get the $10.
Ironically it would be dismissed as biasing, but an amount of money is objective, it buys a number of things and no more, no less. It's also familiar to everyone, and far more objective than any subjective questionnaire. No treatment worth less than $10 to a patient is worth pursuing.
In the case of CBT and GET it could be booster sessions. In the case of medication it could be a longer course with a follow-up for those who value the treatment, a useful comparison point for responders. Along with reasons both for drop-outs and responders, available in the paper.
Risk aversion is a known phenomenon, we value losing a small amount more than winning a larger one. Being presented with the option of that $10 means it feels acquired, and giving it up means hitting against that risk aversion. It's a no-brainer when the treatment is worth it. Also when it isn't.
The $10 value is arbitrary, it's an amount that isn't significant but still counts as able to buy a cheap meal or something that has little value but is helpful, even if at around 1/10. Hey, at least it isn't 0, basically. Could be $5. Whatever, it has to be significant but not worth doing or giving up much for it.
In my case, if I look at effective treatments that helped me and someone asked to either get $10 or never use it when needed, there are some where I would say thanks but I'll keep the medication/treatment, it's definitely worth more than $10.
That includes stuff like stretching. I do a lot of stretching during the day. No one is going to lose $10 to me by giving me the choice of either never stretching to soothe the muscle pain everywhere or enough money to just about buy a cheap meal. Same with ginger for nausea and Pepcid for GI issues. When it works it works.
For CBT and GET, I assume that over 90% would choose the money every time, and that's probably a massive undercount. It could be a standard in a trial, at the end participants can choose to keep trying the treatment or get the $10.
Ironically it would be dismissed as biasing, but an amount of money is objective, it buys a number of things and no more, no less. It's also familiar to everyone, and far more objective than any subjective questionnaire. No treatment worth less than $10 to a patient is worth pursuing.
In the case of CBT and GET it could be booster sessions. In the case of medication it could be a longer course with a follow-up for those who value the treatment, a useful comparison point for responders. Along with reasons both for drop-outs and responders, available in the paper.
Risk aversion is a known phenomenon, we value losing a small amount more than winning a larger one. Being presented with the option of that $10 means it feels acquired, and giving it up means hitting against that risk aversion. It's a no-brainer when the treatment is worth it. Also when it isn't.