Resources Repository
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ArticlePublication 2007Decision Analysis: A Personal Account of How It Got Started and Evolved
In this chapter, Howard Raiffa discusses the evolution of decision analysis and his personal involvement …
In this chapter, Howard Raiffa discusses the evolution of decision analysis and his personal involvement in its development. He describes the early days of Operations Research (OR) in the late 1940s with its approach to complex, strategic decision making. After reading John von Neumann and Oskar Morgenstern’s Theory of Games and Economic Behavior (1947) and Abraham Wald’s two books (1947, 1950), he became involved in statistical decision theory. A few years later, after reading Leonard…
Operations Research | Decision Analysis | Decision Theory | Probability/Bayes | Preferences/Values | Business/Industry | Economics/Finance | Energy/Engineering | Health/Medicine -
ArticlePublication 2023Valuing Mortality Risk: Per Life, Life Year, or QALY?
It is important to consider age and other relevant factors when assessing the value associated …
It is important to consider age and other relevant factors when assessing the value associated with reducing risks to ensure a comprehensive and accurate understanding of its impact. In a recent paper, it is explained that the value of risk reduction, whether it is a temporary or persistent reduction, can be defined using the "value per statistical life" (VSL), "value per statistical life year" (VSLY), or "value per quality-adjusted life year" (VQALY).
Benefit-Cost Analysis | Cost-Effectiveness Analysis | Risk Analysis | Preferences/Values -
Working PaperPublication 2018Valuing Nonfatal Health Risk Reductions
This paper explores approaches for valuing nonfatal risk reductions associated with policy choices in low- …
This paper explores approaches for valuing nonfatal risk reductions associated with policy choices in low- and middle-income countries. The approach for valuation ideally would be based on estimates of individuals’ willingness to pay for changes in their own risks. However, high quality valuation research is not available for many nonfatal conditions even in high-income settings. Typically, two approaches are used either alone or in combination as rough proxies. The first involves applying an estimate of…
Benefit-Cost Analysis | Decision Analysis | Preferences/Values | Priority Setting/Ethics | Health Outcomes | Social Determinants | Policy/Regulation | Economics/Finance | Health/Medicine | Global | Critical Thinking/Analysis -
ArticlePublication 2015Broader Economic Impact of Vaccination: Reviewing and Appraising the Strength of Evidence
Economic evaluations of public health programs such as immunization often consider only direct health benefits and …
Economic evaluations of public health programs such as immunization often consider only direct health benefits and medical cost savings. Evidence linking immunization to important benefits in indicators such as childhood development, household behavior, and other macro-economic data are unclear. A conceptual framework of the pathways between immunization and these broader economic benefits was developed through expert consultation. The authors obtained articles from previous reviews, snowballing, and expert consultation, and associated them with one of the pathways and assessed them using modified Grading…
Benefit-Cost Analysis | Cost-Effectiveness Analysis | Preferences/Values | Priority Setting/Ethics | Costing Methods | Evidence Synthesis | Infectious Diseases | Social Determinants | Economics/Finance | Education/Labor | Health/Medicine -
Working PaperPublication 2015Benefit-Cost Analysis and the Cities
This paper provides a short introduction to the use of benefit-cost analysis to assess interventions …
This paper provides a short introduction to the use of benefit-cost analysis to assess interventions undertaken at the city or municipal level. It introduces the concepts that underlie the conduct of benefit-cost analysis, describes the major analytic components, and discusses how to tailor the analysis to the characteristics of the policy and the resources available. It concludes with a list of references for those interested in learning more.
Benefit-Cost Analysis | Decision Analysis | Preferences/Values | Priority Setting/Ethics | Social Determinants | Environmental Health | Policy/Regulation | Climate/Environment | Culture/Society | Economics/Finance | Government/Law | North America | Critical Thinking/Analysis -
Working PaperPublication 2024Economic Evaluation Primer
Economic evaluation is a powerful tool, encouraging the systematic collection and assessment of the evidence …
Economic evaluation is a powerful tool, encouraging the systematic collection and assessment of the evidence needed to support sound policy decisions. In low- and middle-income countries, where resources are especially scarce and needs are very great, such decisions are exceptionally difficult. In these settings, economic evaluation can be particularly useful in determining how to best improve health and welfare. Typically, cost-effectiveness analysis (CEA) is used to prioritize interventions within the health care sector. This approach…
Benefit-Cost Analysis | Cost-Effectiveness Analysis | Priority Setting/Ethics | Costing Methods | Health Outcomes | Policy/Regulation | Global -
ArticlePublication 2022COVID-19 Response: The Need for Economic Evaluation
COVID-19-related policies are fraught with trade-offs. Many of these trade-offs involve dimensions that can be …
COVID-19-related policies are fraught with trade-offs. Many of these trade-offs involve dimensions that can be quantitatively weighed using economic evaluation, such as those between health and cost outcomes. Other types of dimensions, such as those involving equity or autonomy, can be harder to quantify but should be considered in a comprehensive health policy decision-making context nonetheless. The authors of this New England Journal of Medicine Perspectives article outline how methods of economic evaluation and decision…
Benefit-Cost Analysis | Cost-Effectiveness Analysis | Priority Setting/Ethics | Infectious Diseases | Policy/Regulation | Economics/Finance | Health/Medicine | Global | North America -
ArticlePublication 2021New Microsimulation Models to Inform Cervical Cancer Control
Health decision models consider the lifetime natural history of human papillomavirus (HPV) infection and pathogenesis …
Health decision models consider the lifetime natural history of human papillomavirus (HPV) infection and pathogenesis of cervical cancer, and estimate the long-term impact of preventive interventions. We propose a new health decision modeling framework that de-emphasizes previously used cytologic-colposcopic-histologic diagnoses, which are subjective and lack reproducibility, relying instead on HPV type and duration of infection as the major determinants of model transition probabilities. We posit that new model health states and corollary transitions are universal,…
Cost-Effectiveness Analysis | Decision Analysis | Calibration/Validation | Mathematical Models | Microsimulation | Infectious Diseases | Global -
ArticlePublication 2022Priority Setting in Early Childhood Development: An Analytical Framework
Early childhood development (ECD) sets the foundation for healthy and successful lives with important consequences …
Early childhood development (ECD) sets the foundation for healthy and successful lives with important consequences for education, labor market outcomes, and other domains of well-being. Even though many ECD interventions are implemented and evaluated globally, there is currently no standardized framework for comparing these interventions’ relative cost-effectiveness. The investigators developed an economic evaluation framework that focuses on the immediate impact of ECD interventions targeting motor, cognitive, language, and socioemotional skills. They applied the framework to compute…
Cost-Effectiveness Analysis | Decision Analysis | Priority Setting/Ethics | Child/Nutrition | Global