Moreover, in principle the same methods that were used to create the QALY could be used to measure the costs and benefits of pretty much anything. We could use these methods to estimate the degree to which your wellbeing is affected by stubbing your toe, or by going through a divorce, or by losing your job. We could call them ‘well-being-adjusted life-years’ instead. (Unfortunately, the acronym for this would be ‘WALY’, which might explain why it hasn’t yet taken off.) The idea would be that being dead is at 0% wellbeing; being as well off as you realistically can be is at 100% wellbeing. You
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