Scandinavian Working Papers in Economics
Working Papers,
Copenhagen Business School, Department of Economics
No 09-1999: PRODUCTION GAINS IN COST-EFFECTIVE- NESS ANALYSES - A WELFARE-THEORETI- CAL APPROACH
Bodil O. Hansen and Hans keiding
Additional contact information
Bodil O. Hansen: Department of Economics, Copenhagen Business School, Postal: Department of Economics, Copenhagen Business School, Solbjerg Plads 3 C, 5. sal, DK-2000 Frederiksberg, Denmark
Hans keiding: University of Copenhagen, Postal: Institute of Public Health Research
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
JEL-codes: D61
17 pages, November 1, 1999
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