ArticleThe European journal of health economics : HEPAC : health economics in prevention and care2019
A QALY loss is a QALY loss is a QALY loss: a note on independence of loss aversion from health states.
Article in The European journal of health economics : HEPAC : health economics in prevention and care, 2019. The graph could read no effect estimate from its abstract, so it casts no vote on the map. Cited by 7 papers.
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Who cites it
7 citing papers in PubMed.
- Investigating Rewards and Deposit Contract Financial Incentives for Physical Activity Behavior Change Using a Smartphone App: Randomized Controlled Trial.Journal of medical Internet research · 2022Trial
- Loss aversion in EQ-5D-Y-3L: does it explain differences in willingness to trade-off life years in adults and children?The European journal of health economics : HEPAC : health economics in prevention and care · 2025Article
- Patient willingness to pay and preference for cervical cancer treatments among middle- and low-income populations in Xinjiang.Journal of patient-reported outcomes · 2025Article
- The effect of duration and time preference on the gap between adult and child health state valuations in time trade-off.The European journal of health economics : HEPAC : health economics in prevention and care · 2024Article
- Article
- How do common conditions impact health-related quality of life for children? Providing guidance for validating pediatric preference-based measures.Health and quality of life outcomes · 2023Article
- Correcting for discounting and loss aversion in composite time trade-off.Health economics · 2022Article
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3 authors.
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Abstract
Evidence has accumulated documenting loss aversion for monetary and, recently, for health outcomes-meaning that, generally, losses carry more weight than equally sized gains. In the conventional Quality-Adjusted Life Year (QALY) models, which comprise utility for quality and length of life, loss aversion is not taken into account. When measuring elements of the QALY model, commonly, the (implicit) assumption is that utility for length and quality of life are independent. First attempts to quantify loss aversion for QALYs typically measured loss aversion in the context of life duration, keeping quality of life constant (or vice versa). However, given that QALYs are multi-attribute utilities, it may be possible that the degree of loss aversion is dependent on, or inseparable from, quality of life and non-constant. We test this assumption using non-parametric methodology to quantify loss aversion, under different levels of quality of life. We measure utility of life duration for four health states within subjects, and present the results of a robustness test of loss aversion within the QALY model. We find loss aversion coefficients to be stable at the aggregate level, albeit with considerable heterogeneity at the individual level. Implications for applied work on prospect theory within health economics are discussed.
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