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Measuring the societal value of lifetime health

By R. Edlin, A. Tsuchyia and P. Dolan

Abstract

This paper considers two societal concerns in addition to health maximisation: first, concerns for the societal value of lifetime health for an individual; and second, concerns for the value of lifetime health across individuals. Health-related social welfare functions (HRSWFs) have addressed only the second concern. We propose a model that expresses the former in a metric – the adult healthy-year equivalent (AHYE) – that can be incorporated into standard HRSWFs. An empirical study based on this formulation shows that both factors matter: health losses in childhood are weighted more heavily than losses in adulthood and respondents wish to reduce inequalities in AHYEs.\u

Publisher: Department of Economics, University of Sheffield
Year: 2009
OAI identifier: oai:eprints.whiterose.ac.uk:10006

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