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…
Economics/Finance | Decision Theory | Probability/Bayes | Preferences/Values | Decision Analysis | Operations Research | Business/Industry | Energy/Engineering | Health/Medicine -
ArticlePublication 2018Trading Bankruptcy for Health: A Discrete-Choice Experiment
This article in Value in Health evaluates the importance of improved health as compared to …
This article in Value in Health evaluates the importance of improved health as compared to improved financial risk protection in the general United States population. Using a discrete-choice experiment, it finds that 31.3% of the population values cure at all costs, and 8.5% of the population use financial solvency to dominate medical decision making. This study shares insight to the US population values and trade-offs between health outcomes and financial health, and highlights the difficult…
Economics/Finance | Preferences/Values | Priority Setting/Ethics | Health Outcomes | Health Systems | Culture/Society | Health/Medicine | North America -
ArticlePublication 2017Revealed Willingness-to-Pay vs. Standard Cost-Effectiveness Thresholds
This study estimates the cost-effectiveness thresholds (CETs) of 16 HIV programs in South Africa. The …
This study estimates the cost-effectiveness thresholds (CETs) of 16 HIV programs in South Africa. The use of CETs based on a country’s income per capita has been criticized for not being grounded in theory or evidence, especially in low and middle-income countries (LMICs). An alternative has been produced for South Africa, based on estimates of life years saved and the country’s committed HIV budget. The authors used a previously -published optimization method to estimate CETs,…
Economics/Finance | Preferences/Values | Priority Setting/Ethics | Cost-Effectiveness Analysis | Infectious Diseases | Health/Medicine | Sub-Saharan Africa -
ArticlePublication 2017Policy Makers, the International Community and the Population: Case Study on HIV/AIDS
A four-period game is developed between a policy maker, the international community, and the population. …
A four-period game is developed between a policy maker, the international community, and the population. This research supplements, through implementing strategic interaction, earlier research analyzing "one player at a time." The first two players distribute funds between preventing and treating diseases. The population reacts by degree of risky behavior which may cause no disease, disease contraction, recovery, sickness/death. More funds to prevention implies less disease contraction but higher death rate given disease contraction. The cost…
Economics/Finance | Decision Psychology | Priority Setting/Ethics | Mathematical Models | Infectious Diseases | Health Systems | Global Governance | Government/Law | Health/Medicine | Global -
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…
Economics/Finance | Preferences/Values | Priority Setting/Ethics | Costing Methods | Evidence Synthesis | Benefit-Cost Analysis | Cost-Effectiveness Analysis | Infectious Diseases | Social Determinants | Education/Labor | Health/Medicine -
ArticlePublication 2000Discipline of Cost-Benefit Analysis
Cost-benefit analysis is a general discipline, based on the use of some foundational principles, which …
Cost-benefit analysis is a general discipline, based on the use of some foundational principles, which are not altogether controversial, but have nevertheless considered plausibility. Divisiveness increases as various additional requirements are imposed. There is a trade-off here between easier usability (through locked-up formulae) and more general acceptability (through allowing parametric variations). The paper, by Amartya Sen, examines and scrutinizes the merits and demerits of these additional requirements. The particular variant of cost-benefit approach that is…
Economics/Finance | Preferences/Values | Priority Setting/Ethics | Benefit-Cost Analysis | Culture/Society | Government/Law -
ArticlePublication 2022Health and Financial Risk Protection Outcomes in Economic Evaluations
Extended cost-effectiveness analysis was developed to evaluate health interventions in terms of level and distribution …
Extended cost-effectiveness analysis was developed to evaluate health interventions in terms of level and distribution of health gains and financial risk protection. This information is typically presented in a joint display format. This article develops and applies an algebraic money-metric formulation that incorporates all disaggregated outcomes and finds that ranking of health interventions is sensitive to the decision maker’s aversion to inequality across income groups and that financial risk protection gains are most important to…
Economics/Finance | Priority Setting/Ethics | Cost-Effectiveness Analysis | Chronic Disease/Risk | Social Determinants | Health/Medicine | Global -
ArticlePublication 2022Conceptualizing Monetary Benchmarks for Health Investments toward Poverty Reduction
Public spending can improve population well-being, for example, by averting or reducing poverty. This article …
Public spending can improve population well-being, for example, by averting or reducing poverty. This article aims to conceptualize monetary benchmarks for health sector investments oriented towards poverty alleviation in low- and lower-middle-income countries. Priority setting in low- and lower-middle-income countries could be informed by health-sector PRBs (poverty reduction benchmarks), in addition to burden of disease and cost-effectiveness considerations. The computed PRBs, expressed in dollars per poverty case averted, can possibly be viewed in a manner…
Economics/Finance | Priority Setting/Ethics | Evidence Synthesis | Social Determinants | Health Systems | Health/Medicine | Global -
ArticlePublication 2022Equity Impact of Minimum Unit Pricing of Alcohol
South Africa experiences significant levels of alcohol-related harm. Recent research suggests minimum unit pricing (MUP) …
South Africa experiences significant levels of alcohol-related harm. Recent research suggests minimum unit pricing (MUP) for alcohol would be an effective policy, but high levels of income inequality raise concerns about equity impacts. This paper quantifies the equity impact of MUP on household health and finances in rich and poor drinkers in South Africa. Authors estimate MUP would reduce consumption more among the poorest than the richest drinkers. A MUP policy in South Africa has…
Economics/Finance | Priority Setting/Ethics | Chronic Disease/Risk | Social Determinants | Policy/Regulation | Health/Medicine | Sub-Saharan Africa