University of Chicago Press Valuing Health for Policy: An Economic Approach

This text brings together classic and up-to-date research by economists and public-health experts on theories and measurements of health values. The contributors explore such questions as: how stringent should environmental and occupational safety regulations be?; how far should Medicaid support go?; should funding for research on Alzheimer's disease be increased?; should more money be spent on programmes to discourage smoking?; and what are appropriate ways to determine damages in wrongful injury or death suits? Towards answering such questions, this volume examines various models of health valuation, including the cost-of-illness, preventive-expenditures and quality-adjusted-life-year approaches. The authors favour a willingness-to-pay approach grounded in individual preferences. Addressing a range of health issues, from the common cold and headaches to life-threatening illnesses, this book aims to provide economists, health professionals and policy-makers with the most sophisticated ways of determining the value of health.