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Evaluating Health Risks : An Economic Approach - Per-Olov Johansson

Evaluating Health Risks

An Economic Approach

Paperback Published: 26th June 1995
ISBN: 9780521478786
Number Of Pages: 204

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A major problem in health economics is how to give a value to changes in health. This is the first book to examine all the money measures that are used in such evaluations. Changes in health might be caused by medical treatments, by public safety programmes and by anti-pollution programmes, and the cost-benefit analysis of such programmes involves the use of money measures. The author defines the properties of these money measures, examining them in both a certain and a risky world. He evaluates available empirical approaches for the assessment of the value of health changes, and considers measures such as quality-adjusted life years (qalys) and healthy-years equivalents (hyes). This book raises the important question of whether we are willing to pay the costs for our health care system. It will be of interest to advanced students of health economics and related disciplines, and will also be useful for professionals working on projects that affect human health.

"This concise and carefully written book adresses what is becomming an increasingly important issue in several field os economics." Wesley A. Magat, Journal of Economic Literature

Prefacep. ix
Introductionp. 1
Scope of the studyp. 1
Important contributionsp. 3
Plan of the studyp. 5
Some basic tools and conceptsp. 9
Utility maximizationp. 9
A health production functionp. 12
Intertemporal modelsp. 15
Introducing riskp. 17
Some further comments on riskp. 22
More complex intertemporal modelsp. 27
Appendixp. 30
Evaluating health changes in a certain worldp. 33
Two money measures of a change in healthp. 33
On the properties of compensated money measuresp. 37
An example: using CV and EVp. 40
Overall versus instantaneous money measuresp. 41
A health production function approachp. 43
Using market data to evaluate changes in healthp. 47
Appendixp. 49
Money measures in a risky worldp. 52
Introducing money measures in a risky worldp. 52
A WTP locusp. 57
Evaluating changes in mortality, and the value of a statistical lifep. 59
Endogenous risks and altruismp. 61
Changes in wealth and the value of healthp. 63
Intertemporal modelsp. 65
Appendixp. 69
Evaluating health risks: practical methodologiesp. 71
The contingent valuation methodp. 71
Closed-ended techniquesp. 79
A useful interpretation of WTP measuresp. 83
CVM studies of health risksp. 86
The human capital approachp. 88
Market-based estimation methodsp. 89
The value of a statistical lifep. 93
Appendixp. 96
Contingent valuation studies of health carep. 97
Empirical studies of the WTP for health care: a brief reviewp. 97
A study of high blood pressurep. 102
The resultsp. 106
Useful formulae for the computation of the mean WTPp. 113
Appendixp. 114
Aggregationp. 115
The social welfare functionp. 116
Project evaluationsp. 119
Pragmatic views on the aggregation problemp. 124
An illustration: how to assess a treatmentp. 126
Altruismp. 127
Altruism in cost-benefit analysisp. 130
Appendixp. 134
Further evaluation issues in a risky worldp. 135
The value of informationp. 135
A health production function modelp. 139
Using the model to assess health changesp. 142
On the value of changes in life expectancyp. 146
Appendixp. 150
Concluding remarks on related approachesp. 153
Qalys and hyesp. 153
Risk-risk and risk-dollar trade-offsp. 158
Cost-effectiveness analysisp. 160
Appendixp. 163
Notesp. 168
Bibliographyp. 171
Indexp. 185
Table of Contents provided by Syndetics. All Rights Reserved.

ISBN: 9780521478786
ISBN-10: 0521478782
Audience: Professional
Format: Paperback
Language: English
Number Of Pages: 204
Published: 26th June 1995
Publisher: Cambridge University Press
Country of Publication: GB
Dimensions (cm): 22.86 x 15.24  x 1.27
Weight (kg): 0.3