Synonyms
Cost-utility analysis, preferences
Definition
The value of health gain or the value of human life can be expressed using the human capital approach, using a social preference approach, or by determination of the willingness to pay.
In health economics, utility is defined as a quantitative expression of individuals' preferences for (desirability of) a defined particular health state under conditions of uncertainty.
Basic Characteristics
Value of a Human Life
Discussions about the interpretation of the results of economic evaluation studies (health economic evaluation) and the appropriate threshold value up to which a new health care technology should be reimbursed by public payers also opens the dispute about the value of a human life. There are three main approaches to estimate the value of health gain with respect to the value of human life.
The human capital approach (the human capital approach is also used to estimate indirect costs; see also labor market) estimates the...
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Hessel, F. (2008). Value, Human Life – Utilities . In: Kirch, W. (eds) Encyclopedia of Public Health. Springer, Dordrecht. https://doi.org/10.1007/978-1-4020-5614-7_3673
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DOI: https://doi.org/10.1007/978-1-4020-5614-7_3673
Publisher Name: Springer, Dordrecht
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