Scandinavian Working Papers in Economics

SSE/EFI Working Paper Series in Economics and Finance,
Stockholm School of Economics

No 323: On the interpretation of cost-effectiveness acceptability curves

Mickael Löthgren () and Niklas Zethraeus ()
Additional contact information
Mickael Löthgren: Dept. of Economic Statistics, Stockholm School of Economics, Postal: Stockholm School of Economics, P.O. Box 6501, S-113 83 Stockholm, Sweden
Niklas Zethraeus: Centre for Health Economics, Postal: Stockholm School of Economics, P.O. Box 6501, S-113 83 Stockholm, Sweden

Abstract: This paper discusses the definition, computation and interpretation of cost-effectiveness acceptability curves. A formal definition of the cost-effectiveness acceptability curve based on the net benefit approach is provided. The curve can be computed using parametric or non-parametric techniques and for both computational approaches we establish a formal relation between the cost-effectiveness acceptability curve and statistical inference based on confidence intervals and P-values in cost-effectiveness analysis.

Keywords: Cost-effectiveness analysis; Cost-effectivenesss acceptability curve; net benefit approach; hypothesis testing; confidence intervals

JEL-codes: I10

13 pages, First version: June 11, 1999. Revised: May 2, 2000. Earlier revisions: June 12, 1999.

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