Table 3.

Base case monetary estimates and robustness to alternative specifications

	Base case	No IV	IV Fujiwaraa	SWLSb	Compound SWBc	Sum scoresd	EQ5D-3L tariff	Mean income	Increment 0.05	Increment 0.20
Coefficients
Log income	2.201	0.495	1.103	2.633	2.417	2.255	2.197	Base case coefficients
EQ-5D-5L	2.665	2.665	1.599	2.131	2.398	2.858	2.179
ICECAP-A	6.234	6.234	3.740	7.488	6.861	5.881	6.234
Value in £
1 QALY	30,786	112,336	36,431	20,988	25,498	32,141	25,487	43,149	31,717	29,031
1 YFC	66,597	193,305	77,651	66,828	66,723	61,979	66,597	93,343	71,305	58,384
Rel. size	2.2	1.7	2.1	3.2	2.6	1.9	2.6	2.2	2.2	2.0

All reported coefficients significant on the 1% level

^aIncome coefficient from Fujiwara et al. (2013) [26], other coefficients from rerunning regressions with rescaled SWB

^bRescaled from 0 to 10, instrument passes under- and weak identification test

^cUnweighted average of Cantril’s ladder and SWLS as SWB proxy, instrument passes under- and weak identification test

^dEQ-5D-5L and ICECAP-A sum scores scaled from 0 to 1