Value of a QALY and VSI Estimated with the Chained Approach

Research output: Working paper

Standard

Value of a QALY and VSI Estimated with the Chained Approach. / Olofsson, Sara; Gerdtham, Ulf; Hultkrantz, Lars; Persson, Ulf.

Lund : Department of Economics, Lund University , 2016. (Working Papers; Vol. 2016, No. 33).

Research output: Working paper

Harvard

Olofsson, S, Gerdtham, U, Hultkrantz, L & Persson, U 2016 'Value of a QALY and VSI Estimated with the Chained Approach' Working Papers, no. 33, vol. 2016, Department of Economics, Lund University , Lund.

APA

Olofsson, S., Gerdtham, U., Hultkrantz, L., & Persson, U. (2016). Value of a QALY and VSI Estimated with the Chained Approach. (Working Papers; Vol. 2016, No. 33). Lund: Department of Economics, Lund University .

CBE

Olofsson S, Gerdtham U, Hultkrantz L, Persson U. 2016. Value of a QALY and VSI Estimated with the Chained Approach. Lund: Department of Economics, Lund University . (Working Papers; 33).

MLA

Olofsson, Sara et al. Value of a QALY and VSI Estimated with the Chained Approach. Working Papers; 33. Lund: Department of Economics, Lund University . 2016., 35 p.

Vancouver

Olofsson S, Gerdtham U, Hultkrantz L, Persson U. Value of a QALY and VSI Estimated with the Chained Approach. Lund: Department of Economics, Lund University . 2016 Dec 13. (Working Papers; 33).

Author

Olofsson, Sara ; Gerdtham, Ulf ; Hultkrantz, Lars ; Persson, Ulf. / Value of a QALY and VSI Estimated with the Chained Approach. Lund : Department of Economics, Lund University , 2016. (Working Papers; 33).

RIS

TY - UNPB

T1 - Value of a QALY and VSI Estimated with the Chained Approach

AU - Olofsson, Sara

AU - Gerdtham, Ulf

AU - Hultkrantz, Lars

AU - Persson, Ulf

PY - 2016/12/13

Y1 - 2016/12/13

N2 - The value of a Quality-Adjusted Life-Year (QALY) and the Value of a Statistical Injury (VSI) are important measures within health economics and transport economics. Several studies have therefore estimated people’s WTP for these estimates, but most results show problems with scale insensitivity. The Chained Approach (CA) is a method developed to reduce this problem. The objective of this study was to estimate the value of a QALY and VSI in the context of non-fatal road traffic accidents using CA. Data was collected from a total of 800 individuals in the Swedish adult general population using two web-based questionnaires. The result showed evidence of scale sensitivity both within and between samples. The value of a QALY based on trimmed individual estimates where close to constant at €300,000 irrespective of the type and size of the QALY gain. The study shows promising results for using the original CA to estimate the value of a QALY and VSI. It also supports the use of a constant value of a QALY, but at a higher level than what is currently applied by HTA’s.

AB - The value of a Quality-Adjusted Life-Year (QALY) and the Value of a Statistical Injury (VSI) are important measures within health economics and transport economics. Several studies have therefore estimated people’s WTP for these estimates, but most results show problems with scale insensitivity. The Chained Approach (CA) is a method developed to reduce this problem. The objective of this study was to estimate the value of a QALY and VSI in the context of non-fatal road traffic accidents using CA. Data was collected from a total of 800 individuals in the Swedish adult general population using two web-based questionnaires. The result showed evidence of scale sensitivity both within and between samples. The value of a QALY based on trimmed individual estimates where close to constant at €300,000 irrespective of the type and size of the QALY gain. The study shows promising results for using the original CA to estimate the value of a QALY and VSI. It also supports the use of a constant value of a QALY, but at a higher level than what is currently applied by HTA’s.

KW - contingent valuation

KW - chained approach

KW - scale sensitivity

KW - quality-adjusted life-years

KW - willingness-to-pay

KW - D61

KW - D80

KW - I18

KW - J17

M3 - Working paper

T3 - Working Papers

BT - Value of a QALY and VSI Estimated with the Chained Approach

PB - Department of Economics, Lund University

CY - Lund

ER -