Definitions

Cost-effectiveness analysis (CEA): "cost per year of life saved"

Cost-benefit analysis (CBA): the bottom line of a benefit-cost ratio stated in monetary figures that express the common measurements

Quality-adjusted life-years (QALYs): "if an extra year of healthy (i.e., good quality) life-expectancy is worth one, then an extra year of unhealthy (i.e., poor quality) life-expectancy must be worth less than one." -Alan Williams

Discounted Future Earnings (DFE): determining the monetary value of lives by considering what people at risk of some disease or accident could be expected to earn if they survived

Willingness to Pay (WTP): how much individuals would be willing to pay to reduce the risks of death

- Definitions from Principles of Biomedical Ethics