Economics Notes: Types of economic evaluation
BMJPublished 15 May 1999Open access
Stephen Palmer, Sarah Byford, James Raftery
Citations77
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TL;DR
The use of a single measure of health benefit enables diverse healthcare interventions to be compared so cost utility analysis can address both productive efficiency and allocative efficiency.
Keywords
Economics, Econometrics and FinanceHealth Professions
Journal of Health EconomicsMeasurement of health state utilities for economic appraisal
2,200 Citations1986George W. Torrance
A framework for economic appraisal is presented displaying the various components that must be measured, and showing how the three forms of analysis relate to the framework and to each other.
New England Journal of MedicineFoundations of Cost-Effectiveness Analysis for Health and Medical Practices
2,140 Citations1977Milton C. Weinstein, William B. Stason
Journal of Health EconomicsCost effectiveness/utility analyses
267 Citations1992Stephen Birch, Amiram Gafni
It is shown that although applications of the techniques can be used to pursue some managerial objectives in the context of highly constrained environments, such applications are inconsistent with both welfare economic objectives and the interpretations of the findings of these applications.
BMJCost-benefit analysis.
202 Citations1993Ray Robinson
Cost-benefit analysis is probably the most comprehensive method of economic evaluation available and the most successful that has been devised so far is the "willingness to pay" (stated preference) approach, though the response to this is to a large extent dependent on the income of the person being questioned.
International Journal of Technology Assessment in Health CareOn the (Near) Equivalence of Cost-Effectiveness and Cost-Benefit Analyses
173 Citations1991Charles E. Phelps, Alvin I. Mushlin
When CE analysis supports decisions to use medical resources, it makes the same assumptions that CB analysis requires, which means that they are mathematically equivalent.
RePEc: Research Papers in EconomicsCost Effectiveness/Utility Analyses: Do Current Decision Rules Lead us to Where We Want to Be?
23 Citations1991Stephen Birch, Amiram Gafni