Bleichrodt, Han; Quiggin, John - In: Journal of Risk and Uncertainty 15 (1997) 2, pp. 151-65
This paper provides a characterization of QALYs, the most important outcome measure in medical decision making, in the context of a general rank dependent utility model. We show that both for chronic and for nonchronic health states the characterization of QALYs depends on intuitive conditions....