Characterizing QALYs by Risk Neutrality.

B-Tier
Journal: Journal of Risk and Uncertainty
Year: 1997
Volume: 15
Issue: 2
Pages: 107-14

Score contribution per author:

0.670 = (α=2.01 / 3 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

This paper shows that QALYs can be derived from more elementary conditions than thought hitherto in the literature: it suffices to impose risk neutrality for life years in every health state. This derivation of QALYs is appealing because it does not require knowledge of concepts from utility theory such as utility independence. Therefore our axiomatization greatly facilitates the assessment of the normative (non)validity of QALYs in medical decision making. Moreover, risk neutrality can easily be tested in experimental designs, which makes it straightforward to assess the descriptive (non)validity of QALYs. Copyright 1997 by Kluwer Academic Publishers

Technical Details

RePEc Handle
repec:kap:jrisku:v:15:y:1997:i:2:p:107-14
Journal Field
Theory
Author Count
3
Added to Database
2026-01-24