Cost–benefit analysis (CBA) gives rise to a whole range of philosophical issues. The most discussed among these is the status of economic values that are assigned to assets conceived as incommensurable with money, such as a human life or the continued existence of an animal species. CBA...

Risk adjustment is used in settings with uncertainty to make payments or allow comparisons of outcomes while controlling for exogenous risk factors that explain variations in the outcome of interest, such as spending, utilisation, quality or death. This article focuses on the conceptual and...

The term health econometrics has been adopted to describe the development and application of econometric methods within health economics. This article outlines the distinctive issues that arise in applying econometrics to health data and how these applications have helped to shape the broader...

The economics of health behaviours concerns decisions about smoking, diet and exercise, drinking alcohol, and other consumer choices with important health consequences. The neoclassical model of the consumer and its extensions provide the theoretical framework for most economic research on...