In this paper we study the possibility of estimating a monetary value for the QALY. Using two different surveys of the Spanish population (n=900), we try to establish whether willingness to pay (WTP) is (almost) proportional to the health gains measured in QALYs. We also explore whether...

This paper is the first to apply prospect theory to societal health-related decision making. In particular, we allow for utility curvature, equity weighting, sign-dependence, and loss aversion in choices concerning quality of life of other people. We find substantial inequity aversion, both for...

Scores are commonly used in environmental valuation exercises. The two main procedures when testing for score differences are the within sample and the between sample approaches. Their conclusions do not always coincide. With a case study involving scores on difficulty of responding to two...

Este trabajo aplica un método, propuesto inicialmente por Miyamoto (2000), para ajustar los pesos de calidad de vida (o utilidades de los estados de salud) en función de la curvatura de la función de utilidad del tiempo de vida. El procedimiento de ajuste aplicado es robusto ante fenómenos...

The paper analyzes a linear growth model with idiosyncratic productivity shocks and self-enforcing loan contracts. Agents cannot commit to repay their loans because of insuficient collateral, but the threat of credit market exclusion prevents agents from default. Credit repayment is enforced by...