- Series Information
- The Oxford Handbook of Well-Being and Public Policy
- List of Contributors
- Cost-Benefit Analysis
- Inequality and Poverty Measures
- Social Welfare Functions
- QALY-Based Cost-Effectiveness Analysis
- Fair Allocation
- Social Ordering Functions
- Multidimensional Indicators of Inequality and Poverty
- Happiness-Based Policy Analysis
- Preference-Based Views of Well-Being
- Mental State Approaches to Well-Being
- Objective Goods
- Subjective Well-Being in Psychology
- Subjective Well-Being in Economics
- Equivalent Income
- Extended Preferences
- SWB as a Measure of Individual Well-Being
- Does the Choice of Well-Being Measure Matter Empirically?
- Does Fairness Require a Multidimensional Approach?
- The Capability Approach and Well-Being Measurement for Public Policy
- Measuring Poverty: A Proposal
- Multidimensional Poverty Indices: A Critical Assessment
- Social Evaluation under Risk and Uncertainty
- Individual Responsibility and Equality of Opportunity
- Welfare Comparisons with Heterogeneous Prices, Consumption, and Preferences
- Welfare and the Household
- Preference Inconsistency: A Psychological Perspective
- Lifetime Well-Being
- The Well-Being of Future Generations
- Author Index
- Subject Index
Abstract and Keywords
This chapter introduces the main ideas about the use of quality-adjusted life years (QALYs) in the evaluation of health policies. It starts by explaining the theoretical underpinnings of the QALY model understood as individual utilities. Afterward, it reviews the empirical evidence about the descriptive validity of the main assumptions supporting the model. Then, it explains the main preference elicitation techniques (visual analog scale, time trade-off, and standard gamble). It also shows the practical psychological problems faced by these techniques, such as the existence of context-dependent preferences. The chapter ends by explaining how QALYs are used in priority setting, in particular, the rules governing resources allocation decisions using QALYs, the ethical implications of these rules, and the relationship between cost-benefit analysis and cost-effectiveness analysis.
University of Murcia
Professor of Economics, University of Alicante and Ivie
Chair in Health Economics, Glasgow Caledonian University
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