OBJECTIVES: This study compares the efficacy and safety of olanzapine compared with risperidone, and measures the ability of the general population to value the outcomes of treatment by trading off time versus health to derive utilities. METHOD: Efficacy was measured by defining a responder as those with a 40% improvement in total PANSS score from baseline. Safety was measured in terms of patients with and without extra-pyramidal side-effects (EPS). The results of the Tran1 trial were analyzed using a quadrant approach method, which involved the trial population for olanzapine and risperidone being separated into a combined outcome measure that captured both efficacy and safety benefits as in the following scenarios; Non-responder with EPS, Responder with EPS, Non-responder without EPS, Responder without EPS. The time trade off (TTO) methodology was then used to illicit utilities for each of these scenarios. RESULTS: The results of the study show that olanzapine offers superior outcomes in rates of responder without EPS and non-responder with EPS, when compared with risperidone. (p=0.02). The TTO survey was completed by 70 people. The utility scores derived from the TTO survey were as follows: non-responder with EPS 0.63 (11.0 years traded), non-responder without EPS 0.72 (8.3 years traded), responder with EPS 0.79 (6.3 years traded) and responder with no EPS 0.87 (3.8 years traded). Participants traded significantly more years for the responder than non-responder state and irrespective or responder categorization, traded significantly more years for the “without EPS” state. CONCLUSIONS: This is a useful way to analyze results as both the EPS and the symptoms of the disease contribute to the enormous burden of schizophrenia. The results of this study show the ability of a community sample to value symptoms and side-effects (EPS) of schizophrenia using TTO methodology. They support the value of antipsychotic medication that is both effective in reducing schizophrenia symptoms as well as having a favorable EPS side effect profile.