Standards of clinical utility that are used for public health evaluations, however, need not be identical to those used for individual valuations of utility.
On the other hand, a too long billing cycle reduces the consumers' valuation of future utilities and, beyond some point, it violates the consumers' incentives to comply.
Figure 5 shows how the optimal design of the billing cycle varies depending on consumers' valuation of future utilities (reflected by the discount factor δ). On one hand, a longer billing cycle improves the monitoring accuracy, and therefore, the system has a smaller probability to go into the punishment phase.
Valuations of European utilities are now very high.
Therefore, given consumers' valuation of the future utility (i.e., the discount factor δ) and the structure of the stage game (i.e., ({u^{d}_{n}}, u^{text {PO}}_{n}, u^{text {NE}}_{n},forall n in mathcal {N})), there is a maximum length of the review phase, and hence, the billing cycle should not be too long.
The felicitous alignment could not be selected for, because if affective valuation had no behavioral effects, misalignment of affective valuation with utility of the causes of the evaluated feelings could not have any behavioral effects either.
The high standards of clinical utility that are used within public health care evaluations need not be identical to the standards applicable to individual consumer valuations of personal utility.
Many of the differences between the EQ-5D-3 L, SF-6D and SGRQ were expected considering differences in their descriptive system, scoring function, valuation and range of utility and scoring systems.
Epiphenomenalists would simply have to accept a brute and unscientific view of pre-established harmony of affective valuation of feelings and the utility of their causes.
The most commonly used TTO time horizon appears to be 10 years, which provides for comparability with previously published TTO utility studies including the influential Measurement and Valuation of Health (MVH) study that elicited utilities for EQ-5D health states [ 48, 49].
