A Characterization of Quality-Adjusted Life-Years under Cumulative Prospect Theory

Quality-adjusted life-years (QALYs) are the most common utility measure in medical decision analysis and economic evaluations of health care. This paper presents an axiomatization of QALYs under cumulative prospect theory (CPT), currently the most influential model for decision under uncertainty. Be...

Ausführliche Beschreibung

Bibliographische Detailangaben
Veröffentlicht in:	Mathematics of Operations Research. - Institute for Operations Research and the Management Sciences. - 28(2003), 1, Seite 181-193
1. Verfasser:	Bleichrodt, Han (VerfasserIn)
Weitere Verfasser:	Miyamoto, John
Format:	Online-Aufsatz
Sprache:	English
Veröffentlicht:	2003
Zugriff auf das übergeordnete Werk:	Mathematics of Operations Research
Schlagworte:	QALYs Cumulative Prospect Theory Multiattribute Utility Theory Mathematics Behavioral sciences Economics Health sciences Law


LEADER	01000caa a22002652 4500
001	JST056876254
003	DE-627
005	20240622025828.0
007	cr uuu---uuuuu
008	150324s2003 xx \|\|\|\|\|o 00\| \|\|eng c
035			\|a (DE-627)JST056876254
035			\|a (JST)4126997
040			\|a DE-627 \|b ger \|c DE-627 \|e rakwb
041			\|a eng
100	1		\|a Bleichrodt, Han \|e verfasserin \|4 aut
245	1	2	\|a A Characterization of Quality-Adjusted Life-Years under Cumulative Prospect Theory
264		1	\|c 2003
336			\|a Text \|b txt \|2 rdacontent
337			\|a Computermedien \|b c \|2 rdamedia
338			\|a Online-Ressource \|b cr \|2 rdacarrier
520			\|a Quality-adjusted life-years (QALYs) are the most common utility measure in medical decision analysis and economic evaluations of health care. This paper presents an axiomatization of QALYs under cumulative prospect theory (CPT), currently the most influential model for decision under uncertainty. Because the set of health states need not be endowed with a natural topology that is connected, we first show how existing CPT characterizations can be extended to a class of outcome sets for which no connected natural topology is given. We then characterize QALY models with linear, power, and exponential utility for duration. Finally, we define loss aversion for multiattribute utility theory and characterize the QALY models under general and constant loss aversion. The measurement of QALYs belongs to the general field of multiattribute utility theory. Hence, our results can be generalized to other multiattribute decision contexts and they thereby contribute to the development of multiattribute utility theory under cumulative prospect theory.
540			\|a Copyright 2003 INFORMS
650		4	\|a QALYs
650		4	\|a Cumulative Prospect Theory
650		4	\|a Multiattribute Utility Theory
650		4	\|a Mathematics \|x Pure mathematics \|x Topology
650		4	\|a Behavioral sciences \|x Behavioral economics \|x Prospect theory \|x Loss aversion
650		4	\|a Economics \|x Economic disciplines \|x Financial economics \|x Finance \|x Financial analysis \|x Risk management \|x Risk aversion
650		4	\|a Economics \|x Microeconomics \|x Economic utility \|x Utility functions
650		4	\|a Behavioral sciences \|x Behavioral economics \|x Prospect theory
650		4	\|a Health sciences \|x Health and wellness \|x Health outcomes
650		4	\|a Law \|x Civil law \|x Property law \|x Intellectual property law \|x Industrial property \|x Utility models
650		4	\|a Health sciences \|x Health and wellness \|x Health status
650		4	\|a Economics \|x Microeconomics \|x Economic utility
650		4	\|a Mathematics \|x Pure mathematics \|x Topology \|x Topological theorems
655		4	\|a research-article
700	1		\|a Miyamoto, John \|e verfasserin \|4 aut
773	0	8	\|i Enthalten in \|t Mathematics of Operations Research \|d Institute for Operations Research and the Management Sciences \|g 28(2003), 1, Seite 181-193 \|w (DE-627)320435318 \|w (DE-600)2004273-5 \|x 15265471 \|7 nnns
773	1	8	\|g volume:28 \|g year:2003 \|g number:1 \|g pages:181-193
856	4	0	\|u https://www.jstor.org/stable/4126997 \|3 Volltext
912			\|a GBV_USEFLAG_A
912			\|a SYSFLAG_A
912			\|a GBV_JST
912			\|a GBV_ILN_11
912			\|a GBV_ILN_20
912			\|a GBV_ILN_22
912			\|a GBV_ILN_23
912			\|a GBV_ILN_24
912			\|a GBV_ILN_31
912			\|a GBV_ILN_32
912			\|a GBV_ILN_39
912			\|a GBV_ILN_40
912			\|a GBV_ILN_60
912			\|a GBV_ILN_62
912			\|a GBV_ILN_63
912			\|a GBV_ILN_65
912			\|a GBV_ILN_69
912			\|a GBV_ILN_70
912			\|a GBV_ILN_90
912			\|a GBV_ILN_95
912			\|a GBV_ILN_100
912			\|a GBV_ILN_110
912			\|a GBV_ILN_120
912			\|a GBV_ILN_152
912			\|a GBV_ILN_187
912			\|a GBV_ILN_224
912			\|a GBV_ILN_285
912			\|a GBV_ILN_374
912			\|a GBV_ILN_702
912			\|a GBV_ILN_2001
912			\|a GBV_ILN_2003
912			\|a GBV_ILN_2005
912			\|a GBV_ILN_2006
912			\|a GBV_ILN_2007
912			\|a GBV_ILN_2008
912			\|a GBV_ILN_2009
912			\|a GBV_ILN_2010
912			\|a GBV_ILN_2011
912			\|a GBV_ILN_2014
912			\|a GBV_ILN_2015
912			\|a GBV_ILN_2018
912			\|a GBV_ILN_2020
912			\|a GBV_ILN_2021
912			\|a GBV_ILN_2026
912			\|a GBV_ILN_2027
912			\|a GBV_ILN_2034
912			\|a GBV_ILN_2044
912			\|a GBV_ILN_2048
912			\|a GBV_ILN_2050
912			\|a GBV_ILN_2055
912			\|a GBV_ILN_2056
912			\|a GBV_ILN_2057
912			\|a GBV_ILN_2059
912			\|a GBV_ILN_2061
912			\|a GBV_ILN_2065
912			\|a GBV_ILN_2068
912			\|a GBV_ILN_2088
912			\|a GBV_ILN_2106
912			\|a GBV_ILN_2107
912			\|a GBV_ILN_2108
912			\|a GBV_ILN_2110
912			\|a GBV_ILN_2111
912			\|a GBV_ILN_2112
912			\|a GBV_ILN_2113
912			\|a GBV_ILN_2118
912			\|a GBV_ILN_2122
912			\|a GBV_ILN_2129
912			\|a GBV_ILN_2143
912			\|a GBV_ILN_2147
912			\|a GBV_ILN_2148
912			\|a GBV_ILN_2152
912			\|a GBV_ILN_2153
912			\|a GBV_ILN_2190
912			\|a GBV_ILN_2232
912			\|a GBV_ILN_2472
912			\|a GBV_ILN_2938
912			\|a GBV_ILN_2941
912			\|a GBV_ILN_2947
912			\|a GBV_ILN_2949
912			\|a GBV_ILN_2950
912			\|a GBV_ILN_4012
912			\|a GBV_ILN_4035
912			\|a GBV_ILN_4037
912			\|a GBV_ILN_4046
912			\|a GBV_ILN_4112
912			\|a GBV_ILN_4125
912			\|a GBV_ILN_4126
912			\|a GBV_ILN_4242
912			\|a GBV_ILN_4246
912			\|a GBV_ILN_4249
912			\|a GBV_ILN_4251
912			\|a GBV_ILN_4305
912			\|a GBV_ILN_4306
912			\|a GBV_ILN_4307
912			\|a GBV_ILN_4313
912			\|a GBV_ILN_4322
912			\|a GBV_ILN_4323
912			\|a GBV_ILN_4324
912			\|a GBV_ILN_4325
912			\|a GBV_ILN_4326
912			\|a GBV_ILN_4335
912			\|a GBV_ILN_4338
912			\|a GBV_ILN_4346
912			\|a GBV_ILN_4392
912			\|a GBV_ILN_4393
912			\|a GBV_ILN_4700
951			\|a AR
952			\|d 28 \|j 2003 \|e 1 \|h 181-193