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

Kristian S. Hansen, Juan Moreno-Ternero and Lars P. Østerdal

Journal of Health Economics, 2024, vol. 95, issue C

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.

Keywords: Health; Productivity; QALYs; PALYs; Axioms (search for similar items in EconPapers)
JEL-codes: D63 I10 J24 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jhecon:v:95:y:2024:i:c:s0167629624000304

DOI: 10.1016/j.jhealeco.2024.102885

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