The ‘well-being valuation method’ is a recently developed technique for valuing the effect, in monetary terms, of a health problem on an individual’s well-being. The method involves calculating the compensating variation necessary to maintain the same level… Read More »The well-being valuation approach: Solution or convolution?
Health and its Value
Attributes of health; measurement of health; value of health;
value of life; value of avoiding risk of ill-health; utility measures of health-related quality of life; stated and revealed preference methods of measuring willingness to pay; conjoint analysis.
Back in 2005, NICE and the Department of Health here in the UK set about trying to figure out the level at which society valued a QALY, and also whether different QALYs should be assigned… Read More »Is a QALY a QALY or not? The SVQ project and the value of life
The UK government recently announced plans to “measure happiness” in the country, at an apparent cost of £2 million. The Prime Minister’s argument for this being that GDP is too crude a measure for the… Read More »Satisfaction with life: The UK government’s bid to measure happiness