This paper presents a test of the predictive validity of various classes of QALY models (i.e., linear, power and exponential models). We first estimated TTO utilities for 43 EQ-5D chronic health states and next these states were embedded in health profiles. The chronic TTO utilities were then used to predict the responses to TTO questions with health profiles. We find that the power QALY model clearly outperforms linear and exponential QALY models. Optimal power coefficient is 0.65. Our results suggest that TTO-based QALY calculations may be biased. This bias can be avoided using a power QALY model.
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Paper provided by Department of Economics and Business, Universitat Pompeu Fabra in its series Economics Working Papers with number
741.
Find related papers by JEL classification: I10 - Health, Education, and Welfare - - Health - - - General D99 - Microeconomics - - Intertemporal Choice and Growth - - - Other
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Linda D. MacKeigan & Amiram Gafni & Bernie J. O'Brien, 2003.
"Double discounting of QALYs,"
Health Economics,
John Wiley & Sons, Ltd., vol. 12(2), pages 165-169.
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