Quality of life and economic evaluation

Area of Science:

• Economics
• Welfare Economics
• Quality of Life Studies

Background:

• Quality of life is integral to economic evaluation and welfare economics.
• Economic analyses involve norms, judgments, and factual assessments.
• The concept of quality of life extends beyond welfare economics.

Purpose of the Study:

• To examine the place and role of quality of life in economic evaluation.
• To explore the influence of factual possibilities on quality of life assessments.
• To analyze how longevity, life expectancy, and mortality differences inform quality of life.

Main Methods:

• Conceptual analysis of economic evaluation frameworks.
• Review of literature on quality of life and economic theory.
• Examination of mortality data (longevity, life expectancy, gender, race).

Main Results:

• Quality of life assessments are shaped by both normative judgments and empirical data.
• Factual possibilities influence our understanding and exploration of economic scenarios.
• Mortality differentials provide insights into variations in quality of life.

Conclusions:

• Quality of life is a multifaceted concept crucial for comprehensive economic evaluation.
• Economic analysis must integrate normative and descriptive elements for accurate welfare assessment.
• Understanding quality of life requires considering demographic factors like longevity and mortality patterns.