Conditions for the near equivalence of cost-effectiveness and cost-benefit analyses.

@article{Bala2002ConditionsFT,
  title={Conditions for the near equivalence of cost-effectiveness and cost-benefit analyses.},
  author={Mohan V. Bala and Gary A Zarkin and Josephine A. Mauskopf},
  journal={Value in health : the journal of the International Society for Pharmacoeconomics and Outcomes Research},
  year={2002},
  volume={5 4},
  pages={
          338-46
        }
}
The equivalence of cost-effectiveness analysis (CEA) and cost-benefit analysis (CBA) has been vigorously debated in the health economic literature. In this paper we review and refine the conditions for the equivalence of CEA and CBA. The previously stated conditions require that 1) each individual's willingness to pay (WTP) per quality-adjusted life year (QALY) is constant and does not vary with the magnitude of QALY gains, and 2) the WTP per QALY is identical for every individual in society… CONTINUE READING

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