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Advances in Cost-Effectiveness Analysis of Health Interventions

Garber, Alan M. - 2021

The growing application of cost-effectiveness (CE) analysis and controversies about its methods has led to a need to explore its welfare economic foundations. Examination of its welfare theoretic foundations can provide a rationale for selecting specific standards for the application of CE...

Persistent link: https://www.econbiz.de/10013244105

Hedonic Analysis of Arthritis Drugs

Cockburn, Iain; Anis, Aslam H. - 2021

We examine the relationship between quality'' and market outcomes for a group of drugs used to treat rheumatoid arthritis. Though this is a widespread and debilitating disease with very substantial impacts on the health of patients and on the economy, currently available drugs have limited...

Persistent link: https://www.econbiz.de/10013222962

Accounting for Future Costs in Medical Cost-Effectiveness Analysis

Meltzer, David - 2021

controversial. This paper demonstrates that cost-effectiveness analysis is consistent with lifetime utility maximization only if it …

Persistent link: https://www.econbiz.de/10013235873

Endogenous Cost-Effectiveness Analysis in Health Care Technology Adoption

Jena, Anupam B. - 2010

Increased health care spending has been argued to be largely due to technological change. Cost-effectiveness analysis is the main tool used by private and public third-party payers to prioritize adoption of the new technologies responsible for this growth. However, such analysis by payers...

Persistent link: https://www.econbiz.de/10013152593

Price Indices and the Value of Innovation with Heterogenous Patients

Lucarelli, Claudio; Nicholson, Sean; Tilipman, Nicholas - 2022

Many countries use uniform cost-effectiveness criteria to determine whether to adopt a new medical technology for the entire population. This approach assumes homogeneous preferences for expected health benefits and side effects. We examine whether new prescription drugs generate welfare gains...

Persistent link: https://www.econbiz.de/10014241448

Net Health Benefits : A New Framework for the Analysis of Uncertainty in Cost-Effectiveness Analysis

Stinnett, Aaron A.; Mullahy, John - 2021

In recent years, considerable attention has been devoted to the development of statistical methods for the analysis of uncertainty in cost-effectiveness analysis, with a focus on situations in which the analyst has patient-level data on the costs and health effects of alternative interventions....

Persistent link: https://www.econbiz.de/10013216128

The Cost-Effectiveness of Alternative Instruments for Environmental Protection in a Second-Best Setting

Goulder, Lawrence H.; Parry, Ian W. H.; Williams, … - 2021

This paper uses analytical and numerical general equilibrium models to study the costs of achieving pollution reductions under a range of environmental policy instruments in a second-best setting with pre-existing factor taxes. We compare the costs and efficiency impacts of emissions taxes,...

Persistent link: https://www.econbiz.de/10013244739

Optimal Co2 Abatement in the Presence of Induced Technological Change

Goulder, Lawrence H.; Mathai, Koshy - 2021

This paper explores the significance of policy-induced technological change for the design of carbon-abatement policies. We derive analytical expressions characterizing optimal CO2 abatement and carbon tax profiles under different specifications for the channels through which technological...

Persistent link: https://www.econbiz.de/10013210590

Estimating Time Preferences from Convex Budgets

Andreoni, James - 2010

utility function curvature. We present a new methodology for identifying time preferences, both discounting and utility … obtained, dynamically consistent discounting, and limited though significant utility function curvature … discounting. A commonly recognized bias of standard elicitation techniques is the use of linear preferences for identification …

Persistent link: https://www.econbiz.de/10013138321

The Welfare Economics of Moral Hazard

Arnott, Richard; Stiglitz, Joseph E. - 2022

This paper shows that, except in certain limiting cases, competitive equilibrium with moral hazard is constrained inefficient. The first section compares the competitive equilibrium and the constrained social optimum in a fairly general model, and identifies types of market failure. Each of the...

Persistent link: https://www.econbiz.de/10014156811