Multi-attribute Valuation

Definitions

Health Economics

  • The method commonly used to calculate quality-adjusted life-years. It is multi- attribute by virtue of the latent concept ('health') being considered to be a function of several attributes (absence of pain might be one). The valuation part relates to the process of combining and scaling the attributes using the principles of utility (or expected utility) theory. The measurements involved are usually derived from sample surveys or formal experiments involving groups of the public deemed to be relevant for the purposes of the study in question.
  • synonymMulti-attribute Utility Theory
    (written as multi-attribute valuation)
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