Accounting for Timing
2019
This paper offers guidance on the analysis of project impacts over time so that they can be discounted appropriately in cost-effectiveness or benefit-cost analysis. The quantification and conversion of the time streams of different effects into their equivalent health, health care cost, or consumption effects, avoids embedding multiple arguments in discounting approaches. It helps identify where parameters are likely to differ, what type of evidence is relevant, what is currently known, and how this evidence might be strengthened. The paper discusses the available evidence and suggests possible estimates and default assumptions.
Source:
Claxton K, Asaria M, Chansa C et al. Accounting for Timing when Assessing Health-Related Policies. Journal of Benefit-Cost Analysis 2019; 10 (S1): 73-105. https://doi.org/10.1017/bca.2018.29