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Quality- and productivity-adjusted life years: From QALYs to PALYs and beyond

Author

Listed:
  • Hansen, Kristian S.
  • Moreno-Ternero, Juan D.
  • Østerdal, Lars P.

Abstract

We develop a unified framework for the measurement and valuation of health and productivity. Within this framework, we characterize evaluation functions allowing for compromises between the classical quality-adjusted life years (QALYs) and its polar productivity-adjusted life years (PALYs). Our framework and characterization results provide a new normative basis for the economic evaluation of health care interventions, as well as occupational health and safety policies, aimed to impact both health and productivity of individuals.

Suggested Citation

  • Hansen, Kristian S. & Moreno-Ternero, Juan D. & Østerdal, Lars P., 2024. "Quality- and productivity-adjusted life years: From QALYs to PALYs and beyond," Journal of Health Economics, Elsevier, vol. 95(C).
    • Handle: RePEc:eee:jhecon:v:95:y:2024:i:c:s0167629624000304
    DOI: 10.1016/j.jhealeco.2024.102885
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    More about this item

    Keywords

    Health; Productivity; QALYs; PALYs; Axioms;
    All these keywords.

    JEL classification:

    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • I10 - Health, Education, and Welfare - - Health - - - General
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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