Economic foundations of cost-effectiveness analysis
Economic foundations of cost-effectiveness analysis
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DOI:
10.1016/s0167-6296(96)00506-1
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发表时间:
1997-02-01
影响因子:
3.5
通讯作者:
Phelps, CE
中科院分区:
文献类型:
--
作者:
Garber, AM;Phelps, CE
To address controversies in the application of cost-effectiveness analysis, we investigate the principles underlying the technique and discuss the implications for the evaluation of medical interventions. Using a standard von Neumann-Morgenstern utility framework, we show how a cost-effectiveness criterion can be derived to guide resource allocation decisions, and how it varies with age, gender, income level, and risk aversion. Although cost-effectiveness analysis can be a useful and powerful tool for resource allocation decisions, a uniform cost-effectiveness criterion that is applied to a heterogeneous population level is unlikely to yield Pareto-optimal resource allocations.