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Hammitt, James K.
(2022)
Prevention, Treatment, and Palliative Care: The Relative Value of Health Improvements under Alternative Evaluation Frameworks.
TSE Working Paper, n. 22-1339, Toulouse
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Abstract
The social value of decreasing health risks can be evaluated using benefit-cost analysis (BCA), cost-effectiveness analysis (CEA), or a social-welfare function (SWF). These frameworks can produce different social preference rankings of interventions depending on how their health effects and costs are distributed in a population. This paper derives social values of marginal decreases in the probability of illness, its severity (decrease in health status), lethality (conditional mortality risk), and cost under BCA, CEA, and three benchmark SWFs: utilitarian, ex ante prioritarian, and ex post prioritarian. The sensitivity of the social values of improvements in health and decreases in cost to individual circumstances are diverse. In contrast, the conditions under which a decrease in risk, severity, or lethality is socially preferred to a decrease in another of these dimensions are identical for BCA, CEA, the utilitarian and ex ante prioritarian SWFs, but can differ for the ex post prioritarian SWF.
| Item Type: | Monograph (Working Paper) |
|---|---|
| Language: | English |
| Date: | May 2022 |
| Place of Publication: | Toulouse |
| Uncontrolled Keywords: | prevention, treatment, morbidity, social-welfare function, benefit-cost analysis, value per statistical life |
| JEL Classification: | D61 - Allocative Efficiency; Cost-Benefit Analysis D63 - Equity, Justice, Inequality, and Other Normative Criteria and Measurement D81 - Criteria for Decision-Making under Risk and Uncertainty I10 - General I31 - General Welfare; Basic Needs; Living Standards; Quality of Life; Happiness |
| Subjects: | B- ECONOMIE ET FINANCE |
| Divisions: | TSE-R (Toulouse) |
| Institution: | Université Toulouse 1 Capitole |
| Site: | UT1 |
| Date Deposited: | 01 Jun 2022 11:45 |
| Last Modified: | 03 Feb 2023 14:58 |
| OAI Identifier: | oai:tse-fr.eu:126999 |
| URI: | https://publications.ut-capitole.fr/id/eprint/45485 |
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- Prevention, Treatment, and Palliative Care: The Relative Value of Health Improvements under Alternative Evaluation Frameworks. (deposited 01 Jun 2022 11:45) [Currently Displayed]
