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There are not enough resources in care systems around the world to fund all technically feasible and potentially beneficial care interventions. Difficult choices have to be made, and economic evaluation offers a systematic and transparent process for informing such choices. A key component of economic evaluation is how to value the benefits of care in a way that permits comparison between care interventions, such as through costs per quality-adjusted life years (QALY). Measuring and Valuing Benefits for Economic Evaluation examines the measurement and valuation of benefits, reviews the explosion of theoretical and empirical work in the field, and explores an area of research that continues to be a major source of debate. It addresses the key questions in the field including: the definition of , the techniques of valuation, who should provide the values, techniques for modelling state values, the appropriateness of tools in children and vulnerable groups, cross cultural issues, and the problem of choosing the right instrument. This new edition contains updated empirical examples and practical applications, which help to clarify the readers understanding of real world contexts. It features a glossary containing the common terms used by practitioners, and has been updated to cover new measures of and wellbeing, such as ICECAP, ASCOT and AQOL. It takes into account new research into the social weighting of a QALY, the rising use of ordinal valuation techniques, use of the internet to collect data, and the use of state utility values in cost effectiveness models. This is an ideal resource for anyone wishing to gain a speed understanding of benefit measurement in economic evaluation, especially those working in the fields of economics, public sector economics, coeconomics, services research, public , and quality of life research.

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