Health technology assessment with risk aversion in health
Abstract
Standard cost-effectiveness models compare incremental cost increases to incremental average gains in health, commonly expressed in Quality-Adjusted Life Years (QALYs). Our research generalizes earlier models in several ways. We introduce risk aversion in Quality of Life (QoL), which leads to “willingness-to-pay” thresholds that rise with illness severity, potentially by an order of magnitude. Unlike traditional CEA analyses, which discriminate...
Paper Details
Title
Health technology assessment with risk aversion in health
Published Date
Jul 1, 2020
Journal
Volume
72
Pages
102346 - 102346
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