Work

On the (Near) Equivalence of Cost-Effectiveness and Cost-Benefit Analyses

Year: 1991

Type: article

Abstract: Many people believe that cost-effectiveness (CE) and cost-benefit (CB) analyses require different assumptions. However, when CE analysis supports decisions to use medical resources, it makes the same assumptions that CB analysis requires. They are mathematically equivalent. Differences between CE and CB hinge more on reporting style than on fundamental assumptions.

Source: International Journal of Technology Assessment in Health Care

DOI: 10.1017/s0266462300004803

Authors: Charles E. Phelps, Alvin I. Mushlin

Institutions: University of Rochester Medicine, University of Rochester

Language: English

Topic: Health Systems, Economic Evaluations, Quality of Life

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: green

Funder: U.S. Public Health Service

Award: G2855600613