Exponential Health Utility: A Characterization and Comments on the Contribution by Happich and Mühlbacher

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Abstract

In a recent contribution Happich and Mühlbacher proposed an axiom of constant absolute trade-off of life-years for health states, and studied the family of QALY models satisfying this axiom under expected utility and mutual utility independence between life-years and health states. Here we provide a complete characterization of the family of QALY models satisfying these conditions. This family should not be mistaken for the family of multiplicative exponential QALY models; in particular, it violates the zero condition
Original languageEnglish
JournalEuropean Journal of Health Economics
Volume5
Issue number4
Pages (from-to)365–367
ISSN1618-7598
DOIs
Publication statusPublished - 2004
Externally publishedYes

Keywords

  • Constant absolute trade-off
  • Expected utility
  • Multiplicative exponential models
  • Quality-adjusted life-year

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