Month: August 2022

To WELLBY or not to WELLBY? Measuring non-health, non-pecuniary benefits using subjective wellbeing

We propose the wellbeing-adjusted life year (WELLBY), the SWB equivalent of the DALY or QALY, as the obvious framework to do cost-effectiveness analyses of non-health, non-pecuniary benefits. As our previous work has shown, using WELLBYs can change funding priorities by giving more weight to improving mental health, compared to DALYs or income measures.