Reposting this from the Open Thread, since it’s relevant here:
QALYs and how they are arrived at. “Quality Adjusted Life Years” are the measure used by UK drug approval bodies in deciding which treatments to approve. They aim to spend no more than £30,000 per QALY.
How much you value your own life is of course different from how much society values its citizens’ lives. Though, decision theory suggests the latter should maybe come to dominate the former.
Reposting this from the Open Thread, since it’s relevant here:
QALYs and how they are arrived at. “Quality Adjusted Life Years” are the measure used by UK drug approval bodies in deciding which treatments to approve. They aim to spend no more than £30,000 per QALY.
How much you value your own life is of course different from how much society values its citizens’ lives. Though, decision theory suggests the latter should maybe come to dominate the former.