As the use of cost-effectiveness analysis with quality adjusted life years (QALY) as the outcome measure grows in policy use, a major unresolved issue is that of the monetary value to place on a QALY. This paper addresses this issue by estimating and discussing willingness to pay (WTP) estimates...

There has been a rapid increase in the use of cost-effectiveness analysis, with Quality Adjusted Life Years (QALYs) as an outcome measure, in evaluating both medical technologies and public health interventions. Alongside, there is a growing literature on the monetary value of a QALY based on...