TABLE 2.
Baseline results
| SF‐6D imputation | No imputation | |||||||
|---|---|---|---|---|---|---|---|---|
| OLS | IV | OLS | IV | |||||
| Income in 1000's | 0.05*** | (0.01) | 0.10*** | (0.03) | 0.05*** | (0.01) | 0.14*** | (0.05) |
| Income in 1000's (t − 1) | 0.01 | (0.01) | 0.04 | (0.03) | −0.00 | (0.01) | −0.00 | (0.07) |
| SF‐6D utility | 3.12*** | (0.06) | 3.12*** | (0.05) | 3.52*** | (0.06) | 3.51*** | (0.05) |
| SF‐6D utility (t − 1) | 0.10* | (0.06) | 0.10* | (0.05) | 0.47*** | (0.05) | 0.46*** | (0.05) |
| Disability | −0.14*** | (0.02) | −0.14*** | (0.02) | −0.09*** | (0.03) | −0.09*** | (0.02) |
| Age | 0.09*** | (0.01) | 0.08*** | (0.02) | 0.05*** | (0.01) | 0.05*** | (0.01) |
| Age squared | −0.00*** | (0.00) | −0.00** | (0.00) | −0.00** | (0.00) | −0.00 | (0.00) |
| (de facto) Married | 0.18*** | (0.02) | 0.18*** | (0.02) | 0.17*** | (0.03) | 0.16*** | (0.02) |
| Primary education | −0.18* | (0.09) | −0.21*** | (0.08) | −0.10 | (0.15) | −0.13 | (0.13) |
| Tertiary education | −0.18*** | (0.06) | −0.19*** | (0.05) | −0.19*** | (0.07) | −0.20*** | (0.07) |
| Leisure time | 0.03*** | (0.01) | 0.03*** | (0.00) | 0.03*** | (0.01) | 0.03*** | (0.01) |
| Leisure time squared | −0.00*** | (0.00) | −0.00*** | (0.00) | −0.00** | (0.00) | −0.00*** | (0.00) |
| Unemployed | −0.52*** | (0.03) | −0.53*** | (0.02) | −0.53*** | (0.04) | −0.53*** | (0.03) |
| Work hours | 0.00*** | (0.00) | 0.00*** | (0.00) | 0.00*** | (0.00) | 0.00 | (0.00) |
| Tenure | −0.01*** | (0.00) | −0.01*** | (0.00) | −0.01*** | (0.00) | −0.01*** | (0.00) |
| Model statistics | ||||||||
| Cragg‐Donald | 1864 | 192 | ||||||
| Anderson | 3642 | 382 | ||||||
| Endogeneity test | 10.0 | 5.8 | ||||||
| BIC | 540,754.8 | 540,994.6 | 250,099.1 | 236,537.9 | ||||
| Observations | 186,902 | 186,902 | 93,450 | 85,433 | ||||
| Individuals | 29,735 | 29,735 | 29,735 | 21,718 | ||||
| CIV‐QALY in € | 58,533 | 22,717 | 80,522 | 28,130 | ||||
Source: Own calculations based on SOEP Waves 2002–2018.
Abbreviations: BIC, Bayesian information criteria; CIV‐QALY, compensating income variation of one QALY; IV, instrumental variable; OLS, ordinary least squares.
*p < 0.10, **p < 0.05, ***p < 0.01.