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The willingness to pay for a quality adjusted life year: A review of the empirical literature
Karlstad University, Faculty of Arts and Social Sciences (starting 2013), Department of Geography, Media and Communication.
Karlstad University, Faculty of Arts and Social Sciences (starting 2013), Karlstad Business School. Örebro University.
2015 (English)In: Health Economics, ISSN 1057-9230, E-ISSN 1099-1050, Vol. 24, no 10, 1289-1301 p.Article in journal (Refereed) PublishedText
Abstract [en]

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.
Keyword [en]
Article; health economics; human; life extension; priority journal; quality adjusted life year; quality of life; regression analysis; willingness to pay
National Category
Economics
Research subject
Economics
Identifiers
URN: urn:nbn:se:kau:diva-44858DOI: 10.1002/hec.3085ScopusID: 2-s2.0-84941188594OAI: oai:DiVA.org:kau-44858DiVA: diva2:952789
Available from: 2016-08-15 Created: 2016-08-15 Last updated: 2016-08-15Bibliographically approved

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Ryen, LindaSvensson, Mikael
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Department of Geography, Media and CommunicationKarlstad Business School
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