Kenkel, Don - In: Environmental & Resource Economics 34 (2006) 3, pp. 419-437
also shows how research on the quality-adjusted life year (QALY) can be used to fill in gaps in the willingness to pay … literature. The paper sketches a simple model that shows how to ``QALY-fy the value of a statistical life;'' i.e., how to combine … QALY estimates with estimates of the value of a statistical life to estimate willingness to pay for morbidity risks …