What does this research mean for the field?

Cost-effectiveness and cost-benefit analyses are mathematically equivalent and rely on the same fundamental assumptions when used to support medical resource decisions. Novelty: ClaimNovelty.CONTRADICTORY. Consensus alignment: ConsensusAlignment.CHALLENGES_CONSENSUS.

January 1, 1991

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On the (Near) Equivalence of Cost-Effectiveness and Cost-Benefit Analyses

CPCharles E. PhelpsUniversity of Rochester AMAlvin I. MushlinCornell University

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Abstract

Many people believe that cost-effectiveness (CE) and cost-benefit (CB) analyses require different assumptions. However, when CE analysis supports decisions to use medical resources, it makes the same assumptions that CB analysis requires. They are mathematically equivalent. Differences between CE and CB hinge more on reporting style than on fundamental assumptions.

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Cite This Study

Phelps et al. (Tue,) studied this question.

synapsesocial.com/papers/6a1fa574ccd4fd538e074de8 https://doi.org/https://doi.org/10.1017/s0266462300004803

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