Recent research has documented a link between consumer risk preferences over health and the willingness to pay (WTP …) for medical technologies. However, the absence of empirical health risk preference estimates so far limits the … implementation of this generalized risk-adjusted cost-effectiveness (GRACE) theory, which addresses several limitations of …

health the empirical evidence is lacking. In this study we empirically measure multivariate and higher-order risk preferences … for quality of life and longevity, the two elements of the Quality-Adjusted Life Year (QALY) model. We observe … health than for money. Furthermore, we test if preferences for a risky treatment for a disease affecting only quality of life …