Implications of an economic model of health states worse than dead

作者: Rajiv Sharma , Miron Stano

DOI: 10.1016/J.JHEALECO.2010.05.005

关键词: Economic evaluationFormal descriptionStandard model (cryptography)Actuarial scienceEconometricsTime preferenceValue (mathematics)Economic modelQuality-adjusted life yearMedicineHealth statesPublic Health, Environmental and Occupational HealthHealth policy

摘要: We introduce a formal definition of health equivalent to dead into standard model develop previously unrecognized insights. find that the state viewed as will depend on an individual's prognosis, probability survival, and rate time preference. Our work maximum endurable shows using QALY scores based long-run preferences value states last for shorter periods can alter cardinal ordinal valuations. Simulations show errors substantial magnitude in consequently result. describe situations where biases are likely identify possible corrections.

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