Showing papers by "Hans Keiding published in 2004"
TL;DR: It is argued that there is at least one approach to CBA and CEA in which the two are very intimately linked and the limitations in the access to preference information has consequences for the kind of questions that can be meaningfully addressed in both CBAand CEA.
17 citations
TL;DR: An approach to cost-effectiveness analysis where artificial aggregation is avoided is proposed, assigning to each activity the weights which are the most favourable in a comparison with the other options available, so that activities which have a poor score in this method are guaranteed to be inferior.
Abstract: In a large number of situations, activities in health care have to be measured in terms of outcome and cost. However, the cases where outcome is fully captured by a single measure are rather few, so that one uses some index for outcome, computed by weighing together several outcome measures using subjective and somewhat arbitrary weights. In the paper we propose an approach to cost-effectiveness analysis where such artificial aggregation is avoided. This is achieved by assigning to each activity the weights which are the most favourable in a comparison with the other options available, so that activities which have a poor score in this method are guaranteed to be inferior. The method corresponds to applying Data envelopment analysis, known from the theory of productivity, to the context of health economic evaluations. The method is applied to an analysis of the cost-effectiveness of alternative health plans using data from the Medical Outcome Study (JAMA 1996; 276: 1039-1047), where outcome is measured as improvement in mental and physical health.
14 citations
TL;DR: The existence of benchmark selections that are continuous both in production factors and technology is examined and it is found that for probabilistic benchmarks, i.e., lotteries over efficient productions, existence of continuous selections holds only under additional conditions of well-behavedness.
4 citations
Posted Content•
TL;DR: In this article, the authors consider a simple model of international trade under uncertainty, where production takes time and is subject to uncertainty, and the riskiness of production depends on the choices of the producers, not observable to the general public, and these choices are influenced by the availability and cost of credit.
Abstract: We consider a simple model of international trade under uncertainty, where production takes time and is subject to uncertainty. The riskiness of production depends on the choices of the producers, not observable to the general public, and these choices are influenced by the availability and cost of credit. If investment is financed by a bond market, then a situation may arise where otherwise identical countries end up with different levels of interest and different choices of technique, which again implies differences in achieved level of welfare. Under suitable conditions on the parameters of the model, the market may not be able to supply credits to one of the countries. The introduction of financial intermediaries with the ability to control the debtors may change this situation in a direction which is welfare improving (in a suitable sense) by increasing expected output in the country with high interest rates, while opening up for new problems of asymmetric information with respect to the monitoring activity of the banks.
3 citations