The willingness to pay for a quality adjusted life year: A review of the empirical literature
2015 (English)In: Health Economics, ISSN 1057-9230, E-ISSN 1099-1050, Vol. 24, no 10, 1289-1301 p.Article in journal (Refereed) PublishedText
There has been a rapid increase in the use of cost-effectiveness analysis, with quality adjusted life years (QALYs) as an outcome measure, in evaluating both medical technologies and public health interventions. Alongside, there is a growing literature on the monetary value of a QALY based on estimates of the willingness to pay (WTP). This paper conducts a review of the literature on the WTP for a QALY. In total, 24 studies containing 383 unique estimates of the WTP for a QALY are identified. Trimmed mean and median estimates amount to 74,159 and 24,226 Euros (2010 price level), respectively. In regression analyses, the results indicate that the WTP for a QALY is significantly higher if the QALY gain comes from life extension rather than quality of life improvements. The results also show that the WTP for a QALY is dependent on the size of the QALY gain valued.
Place, publisher, year, edition, pages
John Wiley & Sons, 2015. Vol. 24, no 10, 1289-1301 p.
Article; health economics; human; life extension; priority journal; quality adjusted life year; quality of life; regression analysis; willingness to pay
Research subject Economics
IdentifiersURN: urn:nbn:se:kau:diva-44858DOI: 10.1002/hec.3085ScopusID: 2-s2.0-84941188594OAI: oai:DiVA.org:kau-44858DiVA: diva2:952789