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A bayesian semi-parametric approach for cost-effectiveness analysis in health economics

Author

Listed:
  • Caterina Conigliani
  • Andrea Tancredi

Abstract

We consider the problem of assessing new and existing technologies for their cost-effectiveness in the case where data on both costs and efficacy are available from a clinical trial, and we address it by means of the cost-effectiveness acceptability curve in the simple case where efficacy is measured as a binary outcome. We consider a Bayesian approach, and in recognising that cost data usually exhibit highly skew, heavy-tailed and, possibly multi-modal distributions, we introduce a model for costs composed of a piecewise constant density up to an unknown endpoint, and a generalised Pareto distribution for the remaining tail.

Suggested Citation

  • Caterina Conigliani & Andrea Tancredi, 2005. "A bayesian semi-parametric approach for cost-effectiveness analysis in health economics," Departmental Working Papers of Economics - University 'Roma Tre' 0046, Department of Economics - University Roma Tre.
    • Handle: RePEc:rtr:wpaper:0046
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    File URL: http://dipeco.uniroma3.it/public/WP%2046%20Conigliani%20Tancredi%202005.pdf
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    Cited by:

    1. Caterina Conigliani, 2008. "A bayesian model averaging approach with non-informative priors for cost-effectiveness analyses in health economics," Departmental Working Papers of Economics - University 'Roma Tre' 0094, Department of Economics - University Roma Tre.
    2. Caterina Conigliani & Andrea Tancredi, 2006. "Comparing parametric and semi-parametric approaches for bayesian cost-effectiveness analyses in health economics," Departmental Working Papers of Economics - University 'Roma Tre' 0064, Department of Economics - University Roma Tre.
    3. Caterina Conigliani & Andrea Tancredi, 2009. "A Bayesian model averaging approach for cost‐effectiveness analyses," Health Economics, John Wiley & Sons, Ltd., vol. 18(7), pages 807-821, July.
    4. Borislava Mihaylova & Andrew Briggs & Anthony O'Hagan & Simon G. Thompson, 2011. "Review of statistical methods for analysing healthcare resources and costs," Health Economics, John Wiley & Sons, Ltd., vol. 20(8), pages 897-916, August.

    More about this item

    Keywords

    Healthcare cost data; cost-effectiveness analysis; mixture models; semiparametric modelling.;
    All these keywords.

    JEL classification:

    • C11 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Bayesian Analysis: General

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