Years of good life based on income and health: re-engineering cost-benefit analysis to examine policy impacts on wellbeing and distributive justice

Richard Andrew Cookson; Owen  Cotton-Barrett; Matthew Adler; Miqdad Asaria; Toby Ord

Years of good life based on income and health: re-engineering cost-benefit analysis to examine policy impacts on wellbeing and distributive justice

Richard Andrew Cookson, Owen Cotton-Barrett, Matthew Adler, Miqdad Asaria, Toby Ord

Research output: Working paper › Discussion paper

Abstract

In this paper, we propose a practical measure of individual wellbeing to facilitate the economic evaluation of public policies. We propose to evaluate policies in terms of years of good life gained, in a way that complements and generalises conventional cost-benefit analysis in terms of money. We aim to show how years of good life could be measured in practice by harnessing readily available data on three important elements of individual wellbeing: income, health-related quality of life, and longevity. We also aim to identify the main ethical assumptions needed to use this measure.

Original language	English
Place of Publication	York UK
Publisher	Centre for Health Economics, University of York
Pages	1-25
Number of pages	25
Publication status	Published - Jul 2016

Publication series

Name	CHE Research Paper
Publisher	Centre for Health Economics, University of York
No.	132

Access to Document

CHERP132_income_health_CBA_wellbeing_justiceFinal published version, 2.23 MB

http://www.york.ac.uk/media/che/documents/papers/researchpapers/CHERP132_income_health_CBA_wellbeing_justice.pdf

Cite this

Cookson, R. A., Cotton-Barrett, O., Adler, M., Asaria, M., & Ord, T. (2016). Years of good life based on income and health: re-engineering cost-benefit analysis to examine policy impacts on wellbeing and distributive justice. (pp. 1-25). (CHE Research Paper; No. 132). Centre for Health Economics, University of York. http://www.york.ac.uk/media/che/documents/papers/researchpapers/CHERP132_income_health_CBA_wellbeing_justice.pdf

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abstract = "In this paper, we propose a practical measure of individual wellbeing to facilitate the economic evaluation of public policies. We propose to evaluate policies in terms of years of good life gained, in a way that complements and generalises conventional cost-benefit analysis in terms of money. We aim to show how years of good life could be measured in practice by harnessing readily available data on three important elements of individual wellbeing: income, health-related quality of life, and longevity. We also aim to identify the main ethical assumptions needed to use this measure. ",

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language = "English",

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Cookson, RA, Cotton-Barrett, O, Adler, M, Asaria, M & Ord, T 2016 'Years of good life based on income and health: re-engineering cost-benefit analysis to examine policy impacts on wellbeing and distributive justice' CHE Research Paper, no. 132, Centre for Health Economics, University of York, York UK, pp. 1-25. <http://www.york.ac.uk/media/che/documents/papers/researchpapers/CHERP132_income_health_CBA_wellbeing_justice.pdf>

Years of good life based on income and health: re-engineering cost-benefit analysis to examine policy impacts on wellbeing and distributive justice. / Cookson, Richard Andrew; Cotton-Barrett, Owen ; Adler, Matthew et al.

York UK : Centre for Health Economics, University of York, 2016. p. 1-25 (CHE Research Paper; No. 132).

Research output: Working paper › Discussion paper

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