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A Criticism of Healthy-years Equivalents

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  • Peter Wakker

Abstract

The following questions describe the scope of this paper. When decision trees are used to analyze optimal decisions, should end nodes be evaluated on the basis of QALYs or on the basis of healthy-years equivalents? Which measures should be used in communications with others, e.g., patients? Which of these measures incorporate nsk attitudes, and which do not? It is demonstrated that the healthy-years equivalent measure does not stand scrutiny. Key words: utility; QALY; quality of life; healthy-years equivalent; standard gamble. (Med Decis Making 1996;16:207-214)

Suggested Citation

  • Peter Wakker, 1996. "A Criticism of Healthy-years Equivalents," Medical Decision Making, , vol. 16(3), pages 207-214, August.
    • Handle: RePEc:sae:medema:v:16:y:1996:i:3:p:207-214
    DOI: 10.1177/0272989X9601600302
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    References listed on IDEAS

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    1. James S. Dyer & Rakesh K. Sarin, 1982. "Relative Risk Aversion," Management Science, INFORMS, vol. 28(8), pages 875-886, August.
    2. Johannesson, Magnus, 1994. "QALYs, HYEs and individual preferences-- A graphical illustration," Social Science & Medicine, Elsevier, vol. 39(12), pages 1623-1632, December.
    3. Johannesson, Magnus, 1995. "Quality-adjusted life-years versus healthy-years equivalents -- A comment," Journal of Health Economics, Elsevier, vol. 14(1), pages 9-16, May.
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    Cited by:

    1. Jose Luis Pinto Prades & Eva Rodriguez Miguez, 2011. "The Lead Time Trade-Off: The Case Of Health States Better Than Death," Working Papers 11.10, Universidad Pablo de Olavide, Department of Economics.
    2. Hougaard, Jens Leth & Moreno-Ternero, Juan D. & Østerdal, Lars Peter, 2013. "A new axiomatic approach to the evaluation of population health," Journal of Health Economics, Elsevier, vol. 32(3), pages 515-523.
    3. Diecidue, E. & Schmidt, U. & Wakker, P.P., 2000. "A Theory of the Gambling Effect," Other publications TiSEM c975e1b4-2319-429d-a68e-f, Tilburg University, School of Economics and Management.
    4. Carmen Herrero Blanco, 2001. "Individual Evidence Of Independence In Health Profiles Evaluation," Working Papers. Serie AD 2001-20, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    5. Han Bleichrodt & Ulrich Schmidt, 2002. "A Context-Dependent Model of the Gambling Effect," Management Science, INFORMS, vol. 48(6), pages 802-812, June.
    6. Catherine Buron & Catherine Le Galès & Anne-Marie Fericelli, 1997. "L'indicateur QALYs à la lumière de la théorie de l'utilité espérée multi-attribut explicitement décomposée," Économie et Prévision, Programme National Persée, vol. 129(3), pages 55-71.
    7. Hammond, Peter J. & Liberini, Federica & Proto, Eugenio, 2011. "Individual Welfare and Subjective Well-Being : Commentary Inspired by Sacks, Stevenson and Wolfers," The Warwick Economics Research Paper Series (TWERPS) 957, University of Warwick, Department of Economics.
    8. Ried, Walter, 1998. "QALYs versus HYEs--what's right and what's wrong. A review of the controversy," Journal of Health Economics, Elsevier, vol. 17(5), pages 607-625, October.
    9. José‐María Abellán‐Perpiñán & José‐Luis Pinto‐Prades & Ildefonso Méndez‐Martínez & Xabier Badía‐Llach, 2006. "Towards a better QALY model," Health Economics, John Wiley & Sons, Ltd., vol. 15(7), pages 665-676, July.
    10. Osterdal, Lars Peter, 2005. "Axioms for health care resource allocation," Journal of Health Economics, Elsevier, vol. 24(4), pages 679-702, July.

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