Optimal allocation of resources over health care programmes: dealing with decreasing marginal utility and uncertainty
Maiwenn J. Al,
Talitha L. Feenstra and
Ben A. van Hout
Health Economics, 2005, vol. 14, issue 7, 655-667
Abstract:
This paper addresses the problem of how to value health care programmes with different ratios of costs to effects, specifically when taking into account that these costs and effects are uncertain. First, the traditional framework of maximising health effects with a given health care budget is extended to a flexible budget using a value function over money and health effects. Second, uncertainty surrounding costs and effects is included in the model using expected utility. Other approaches to uncertainty that do not specify a utility function are discussed and it is argued that these also include implicit notions about risk attitude. Copyright © 2005 John Wiley & Sons, Ltd.
Date: 2005
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (13)
Downloads: (external link)
https://doi.org/10.1002/hec.973
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:wly:hlthec:v:14:y:2005:i:7:p:655-667
Access Statistics for this article
Health Economics is currently edited by Alan Maynard, John Hutton and Andrew Jones
More articles in Health Economics from John Wiley & Sons, Ltd.
Bibliographic data for series maintained by Wiley Content Delivery ().