Productivity and quality-adjusted life years: QALYs, PALYs and beyond

Kristian S. Hansen (krh@nfa.dk), Juan Moreno-Ternero and Lars P. Østerdal (lpo.eco@cbs.d)
Additional contact information
Kristian S. Hansen: National Research Centre for the Working Environment (NFA)
Lars P. Østerdal: Department of Economics, Copenhagen Business School, Postal: Copenhagen Business School, Department of Economics, Porcelaenshaven 16 A. 1. floor, DK-2000 Frederiksberg, Denmark, https://www.cbs.dk/en/research/departments-and-centres/department-of-economics/staff/lpoeco

No 11-2023, Working Papers from Copenhagen Business School, Department of Economics

Abstract: We develop a general framework for the evaluation of health and productivity of a population of individuals. In such a framework, we characterize Productivity-and-Quality-Adjusted Life Years evaluation functions, which range from the classical Quality-Adjusted Life Years (QALYs) to its polar Productivity-Adjusted Life Years (PALYs). Our frame-work and characterization results provide a new normative basis for the economic evalu-ation of health care or occupational health and safety policies.

Keywords: Health; productivity; QALYs; PALYs; axioms (search for similar items in EconPapers)
JEL-codes: D63 I10 J24 (search for similar items in EconPapers)
Pages: 37 pages
Date: 2023-10-23
New Economics Papers: this item is included in nep-dem, nep-hea and nep-lma
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Working Paper: Productivity and quality-adjusted life years: QALYs, PALYs and beyond (2024)
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