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On the possibility of a bridge between CBA and CEA: Comments on a paper by Dolan and Edlin

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Author Info

  • B. O. Hansen

    (Institute of Economics, Copenhagen Business School)

  • Jens Leth Hougaard

    (Institute of Economics, University of Copenhagen)

  • Hans Keiding

    (Institute of Public Health, University of Copenhagen)

  • L. P. Østerdal

    (Institute of Public Health, University of Copenhagen)

Abstract

In a recent work by Dolan and Edlin it is concluded that no link can be established between cost-benefit analysis (CBA) and cost-effectiveness analysis (CEA). However, the conclusion seems to depend rather heavily on what is understood by a link between CBA and CEA as well as on the exact meaning of the latter two terms. We argue that there is at least one approach to CBA and CEA in which the two are very intimately linked. On the other hand, the limitations in the access to preference information has consequences for the kind of questions that can be meaningfully addresses in both CBA and CEA.

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Bibliographic Info

Paper provided by University of Copenhagen. Department of Economics in its series Discussion Papers with number 02-21.

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Length: 12 pages
Date of creation: Nov 2002
Date of revision:
Handle: RePEc:kud:kuiedp:0221

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Keywords: cost-benefit analysis; cost-effectiveness analysis; aggregation of preferences; quality-adjusted life years;

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  1. Bleichrodt, Han & Quiggin, John, 1999. "Life-cycle preferences over consumption and health: when is cost-effectiveness analysis equivalent to cost-benefit analysis?," Journal of Health Economics, Elsevier, vol. 18(6), pages 681-708, December.
  2. Mas-Colell, Andreu & Whinston, Michael D. & Green, Jerry R., 1995. "Microeconomic Theory," OUP Catalogue, Oxford University Press, number 9780195102680.
  3. Dolan, Paul & Edlin, Richard, 2002. "Is it really possible to build a bridge between cost-benefit analysis and cost-effectiveness analysis?," Journal of Health Economics, Elsevier, vol. 21(5), pages 827-843, September.
  4. Garber, Alan M. & Phelps, Charles E., 1997. "Economic foundations of cost-effectiveness analysis," Journal of Health Economics, Elsevier, vol. 16(1), pages 1-31, February.
  5. Culyer, A J, 1989. "The Normative Economics of Health Care Finance and Provision," Oxford Review of Economic Policy, Oxford University Press, vol. 5(1), pages 34-58, Spring.
  6. Brouwer, Werner B. F. & Koopmanschap, Marc A., 2000. "On the economic foundations of CEA. Ladies and gentlemen, take your positions!," Journal of Health Economics, Elsevier, vol. 19(4), pages 439-459, July.
  7. Pratt, John W & Zeckhauser, Richard J, 1996. "Willingness to Pay and the Distribution of Risk and Wealth," Journal of Political Economy, University of Chicago Press, vol. 104(4), pages 747-63, August.
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Cited by:
  1. David Canning, 2009. "Axiomatic Foundations of Cost Effectiveness Analysis," PGDA Working Papers 5109, Program on the Global Demography of Aging.
  2. Hougaard, Jens Leth & Keiding, Hans, 2005. "On the aggregation of health status measures," Journal of Health Economics, Elsevier, vol. 24(6), pages 1154-1173, November.
  3. Don Kenkel, 2006. "WTP- and QALY-Based Approaches to Valuing Health for Policy: Common Ground and Disputed Territory," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 34(3), pages 419-437, July.
  4. Edlin, Richard, 2004. "Anti-social welfare functions: a reply to Hansen et al," Journal of Health Economics, Elsevier, vol. 23(5), pages 899-905, September.

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