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- W2013902096 abstract "We use a simple lifetime utility maximization model to study the problem of medical resource allocation. This model leads to a welfare specification with a QALY (quality-adjusted life-year) component that captures an individual's preferences over both life expectancy and health status. The goal of medical cost-effectiveness analysis (CEA) is characterized as maximizing the QALY measure for a given total medical expenditure. We show that the CEA with such a goal has a longevity bias: the CEA-based division of a given total medical expenditure between extending life and improving health gives the former a larger share than is called for by welfare maximization. Copyright © 2007 John Wiley & Sons, Ltd." @default.
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- W2013902096 date "2008-01-01" @default.
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- W2013902096 title "Longevity bias in cost-effectiveness analysis" @default.
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- W2013902096 doi "https://doi.org/10.1002/hec.1309" @default.
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