Quality adjusted life years as expected utilities

Spanish Economic Review, vol. 2(1), pp. 49-63. (2000)

Autores: José María Abellán Perpiñán y José Luis Pinto Prades

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Abstract

This article is intended to systematicaly show all the conditions that the Quality Adjusted Life Year (QALY) must satisfy so that it can be interpreted as a von Newman-Morgenstern utility. Such conditions cover two cases. When health states are chronic, we shall be referring to the conditions inferred by Pliskin, Shepard and Weinstein (1980).

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