Capabilities as Menus: A Non-Welfarist Basis for QALY Evaluation
| dc.creator | Bleichrodt, Han | |
| dc.creator | Quiggin, John | |
| dc.date | 2017-04-01T19:20:59Z | |
| dc.date.accessioned | 2026-07-09T07:12:15Z | |
| dc.description | Quality-Adjusted Life Years (QALYs) are the most widely-used measure of health in cost–effectiveness analysis and cost–benefit analysis. Within a welfarist framework QALYs are consistent with people’s preferences under stringent assumptions. Several authors have argued that QALYs are a valid measure of health within an extra-welfarist framework. This paper studies the applicability of QALYs within the best-known extra-welfarist framework, Sen’s capability approach. We propose a procedure to value capability sets and provide a foundation for QALYs within Sen’s capability approach. We show that, under appropriate conditions, the ranking of capabilities can be represented locally by a QALY measure and that a shadow price for QALYs can be defined. | |
| dc.identifier | doi:10.22004/ag.econ.151199 | |
| dc.identifier | https://ageconsearch.umn.edu/record/151199/files/RSMG%20Working%20Paper%20R11_5.pdf | |
| dc.identifier | http://ageconsearch.umn.edu/record/151199 | |
| dc.identifier.uri | http://hdl.handle.net/123456789/585691 | |
| dc.language | eng | |
| dc.publisher | ||
| dc.source | http://ageconsearch.umn.edu/record/151199 | |
| dc.title | Capabilities as Menus: A Non-Welfarist Basis for QALY Evaluation | |
| dc.type | Text |