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Preference-based measures are instruments that describe health states and attach to them values, or utilities, derived from preferences, so that health-related quality of life can be expressed on a scale anchored by full health and death and used to calculate quality-adjusted life years. The values are typically obtained by valuing the health states described by the instrument using methods such as the time trade-off or standard gamble, often in general-population samples, to produce a value set. Generic preference-based measures such as the EQ-5D allow comparison across conditions and are central to the cost-utility analyses used in HTA. The choice of measure and value set can influence results, so it should be appropriate to the population and consistent with the requirements of the decision maker.

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