Working Paper Series, Department of Economics, Copenhagen Business School
Bodil O. Hansen and Hans keiding
PRODUCTION GAINS IN COST-EFFECTIVE- NESS ANALYSES - A WELFARE-THEORETI- CAL APPROACH
Abstract: In the literature on cost-effectiveness analyses, there
has recently been considerable debate on
the way of measuring the
production gain caused by a new treatment as well as its proper evaluation.
In this paper, we propose a general framework for the discussion of
such questions in the form of a
general equilibrium model with separate
health variables. It is shown how the standard methods of
cost-effectiveness and cost-utility analysis are derived from basic
assumptions. Also, the question
of whether to choose the human capital
or the frictional method in evaluating production gains can
be given an
answer in this model.
Keywords: Cost-effectiveness analysis; Production gain; General equilibrium model; Health variables; Cost-utility analysis; (follow links to similar papers)
JEL-Codes: D61; (follow links to similar papers)
17 pages, November 1, 1999
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