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Présentation en anglais
Intervenant: Daniel Herrera est Maître de Conférence à l’Université Paris Dauphine-PSL et chercheur associé à la CEC.
Titre: Empirical bounds on the value of improved health
Résumé: Policies that improve health and longevity are often valued by combining expected gains in quality-adjusted life years (QALYs) with a constant willingness-to-pay (WTP) per QALY. This constant is derived by dividing estimated value per statistical life (VSL) by expected future QALYs. We explore the validity of this practice by deriving the empirical counterparts of theoretical upper and lower bounds on the WTP for a marginal improvement in the quality of life, as measured by gains in health status or longevity. We obtain data by surveying a representative sample of French adults over the internet. Testing whether upper and lower bounds on the WTP for improved health and longevity are the same permits a novel empirical test for the descriptive validity of the QALY model, as well as validate (or not) a standard and widespread policy practice.
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