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Production Gains In Cost-Effective- Ness Analyses - A Welfare-Theoreti- Cal Approach

Author

Listed:
  • Hansen, Bodil O.

    (Department of Economics, Copenhagen Business School)

  • keiding, Hans

    (University of Copenhagen)

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.

Suggested Citation

  • Hansen, Bodil O. & keiding, Hans, 1999. "Production Gains In Cost-Effective- Ness Analyses - A Welfare-Theoreti- Cal Approach," Working Papers 09-1999, Copenhagen Business School, Department of Economics.
    • Handle: RePEc:hhs:cbsnow:1999_009
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    References listed on IDEAS

    as
    1. Grossman, Michael, 1972. "On the Concept of Health Capital and the Demand for Health," Journal of Political Economy, University of Chicago Press, vol. 80(2), pages 223-255, March-Apr.
    2. Olsen, Jan Abel & Richardson, Jeff, 1999. "Production gains from health care: what should be included in cost-effectiveness analyses?," Social Science & Medicine, Elsevier, vol. 49(1), pages 17-26, July.
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    More about this item

    Keywords

    Cost-effectiveness analysis; Production gain; General equilibrium model; Health variables; Cost-utility analysis;
    All these keywords.

    JEL classification:

    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis

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