We suggest an operational definition of transaction cost as the expected value of strategy information in games played by individuals randomly matched from a large population. We relate the concept of a transaction cost minimum to those of Nash equilibrium, efficiency, and evolutionary...

There are few studies investigating the consequences of osteoporotic (low bone density) fractures in terms of costs and health outcomes. The purpose of this Swedish pilot study is to assess the costs and quality of life related to fractures of the hip, spine, wrist and shoulder and further to...

Abstract: We performed a cross-sectional, "bottom-up" observational study of resource consumption and quality of life of patients with multiple sclerosis (MS) in the United Kingdom. Three centers participated in the study. Patients received a questionnaire either by mail or during a clinic...

This report presents a computer model for evaluating the cost-effectiveness (CE) of Hormone Replacement Therapy (HRT). The model is an extension of a previous model and includes also the risk of spine and wrist fracture. New Swedish data on risk of coronary heart disease and related mortality...

In analysis of atemporal models, comparative statics experiments are typically carried out, often employing envelope properties, such as Roy's identity, Hotelling's lemma and Shephard's lemma, in order to simplify the analysis. In analysis of dynamic models, such experiments are seldom...

In this study we report an attempt to measure the value adult Swedes impute to an increased survival probability at high ages. A rating scale between the worst possible quality of life (=1) and the best possible quality of life (=10) is used to indicate the quality of life a person expects to...

A bank that lends money to a household faces two types of risk. Most commonly mentioned is the risk of a default. Hardly ever referred to is the risk of an early redemption of the loan - leading to dormancy. We model consumer loans' transition from an active to a dormant state and estimate a...

This paper shows that there exists a close relation between the net benefit and Fieller's methods for calculation of confidence intervals and performing hypothesis testing in cost-effectiveness analysis. The prices at which the net benefit confidence interval limits are equal to zero are...

The cost-effectiveness of hormone replacement therapy (HRT) based on a societal perspective is reassessed based on new medical evidence found in the Women’s Health Initiative (WHI). Within a model framework using an individual state transition model the cost-effectiveness of 50-60 year old...

This study addresses the issue of efficiency in the treatment and rehabilitation of hip fracture patients in Sweden. The treatment and rehabilitation of hip fracture patients is defined in terms of a hip fracture treatment process where resources in orthopaedics and after care are used for...