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Appears in Collections:Management, Work and Organisation Journal Articles
Peer Review Status: Refereed
Title: Money or mental health: The cost of alleviating psychological distress with monetary compensation versus psychological therapy
Author(s): Boyce, Christopher J
Wood, Alex M
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Keywords: Mental health services Great Britain Finance
Issue Date: Oct-2010
Date Deposited: 22-Apr-2013
Citation: Boyce CJ & Wood AM (2010) Money or mental health: The cost of alleviating psychological distress with monetary compensation versus psychological therapy. Health Economics, Policy and Law, 5 (4), pp. 509-516.
Abstract: Money is the default way in which intangible losses, such as pain and suffering, are currently valued and compensated in law courts. Economists have suggested that subjective well-being regressions can be used to guide compensation payouts for psychological distress following traumatic life events. We bring together studies from law, economic, psychology and medical journals to show that alleviating psychological distress through psychological therapy could be at least 32 times more cost effective than financial compensation. This result is not only important for law courts but has important implications for public health. Mental health is deteriorating across the world - improvements to mental health care might be a more efficient way to increase the health and happiness of our nations than pure income growth.
DOI Link: 10.1017/S1744133109990326
Rights: Publisher policy allows this work to be made available in this repository. Published in Health Economics, Policy and Law / Volume 5 / Issue 04 / October 2010, pp 509-516 Copyright © Cambridge University Press 2009 0326. The original publication is available at

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