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Willingness to pay for a QALY
Author(s) -
GyrdHansen Dorte
Publication year - 2003
Publication title -
health economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.55
H-Index - 109
eISSN - 1099-1050
pISSN - 1057-9230
DOI - 10.1002/hec.799
Subject(s) - willingness to pay , contingent valuation , preference , quality adjusted life year , valuation (finance) , economics , value of life , actuarial science , health economics , eq 5d , medicine , health related quality of life , health care , operations management , cost effectiveness , microeconomics , finance , economic growth , disease
A willingness to pay (WTP) per quality‐adjusted‐life year (QALY) of DKK 88 was estimated on the basis of elicited preferences for health states. The WTP per QALY estimate presented here differs considerably from that implied in contingent valuation studies, suggesting that WTP for reducing risk of death is based on other preference structures than is ex post WTP for improvements in quality of life. Results further suggest that different preference structures may exist when respondents are faced with WTP questions in which case elimination of minor health problems are associated with negligible utility. Copyright © 2003 John Wiley & Sons, Ltd.