Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/123823
Authors: 
Russell, Louise B.
Year of Publication: 
2014
Series/Report no.: 
Working Papers, Department of Economics, Rutgers, The State University of New Jersey 2014-06
Abstract: 
Despite spending far more on medical care, Americans live shorter lives than the citizens of other high-income countries. The situation has been getting worse for at least three decades. This paper describes the main scientific methods for guiding the allocation of resources to health - cost-effectiveness analysis (CEA) and cost-benefit analysis (CBA), sketches their methodological progress over the last several decades, and presents examples of how medical practice in other high-income countries, where people live longer, follows the priorities indicated by cost-effectiveness analysis. CEA and CBA support democratic decision-making processes, which have themselves benefited from scientific inquiry; these are touched on at the end of the paper.
Subjects: 
cost-effectiveness analysis
cost-benefit analysis
JEL: 
H4
I1
D61
Document Type: 
Working Paper

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