A note on QALYs, time tradeoff, and discounting.

@article{Johannesson1994ANO,
  title={A note on QALYs, time tradeoff, and discounting.},
  author={Magnus Johannesson and Joseph S. Pliskin and Milton C. Weinstein},
  journal={Medical decision making : an international journal of the Society for Medical Decision Making},
  year={1994},
  volume={14 2},
  pages={188-93}
}
The theoretical model of QALYs is based on risk neutrality with respect to life years or constant proportional risk posture with respect to life years. It is shown that discounting of QALYs is inconsistent with these assumptions. For discounting to be consistent with individual preferences in a QALY model, individuals have to be risk-neutral with respect to discounted life years or exhibit constant proportional risk posture with respect to discounted life years. For the time-tradeoff method to… CONTINUE READING

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