2016
DOI: 10.1002/sim.6987
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Probabilistic measures of cost‐effectiveness

Abstract: Several probability-based measures are introduced in order to assess the cost-effectiveness of a treatment. The basic measure consists of the probability that one treatment is less costly and more effective compared with another. Several variants of this measure are suggested as flexible options for cost-effectiveness analysis. The proposed measures are invariant under monotone transformations of the cost and effectiveness measures. Interval estimation of the proposed measures are investigated under a parametr… Show more

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Cited by 2 publications
(7 citation statements)
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“…Since it may be unrealistic to demand that a new treatment be less costly and more effective than a standard treatment, the CEP metric introduced in Bebu et al 7 can be adapted to include appropriate thresholds 𝛿 C and 𝛿 E for the cost and the effectiveness, respectively:…”
Section: The Cost-effectiveness Probability Criterionmentioning
confidence: 99%
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“…Since it may be unrealistic to demand that a new treatment be less costly and more effective than a standard treatment, the CEP metric introduced in Bebu et al 7 can be adapted to include appropriate thresholds 𝛿 C and 𝛿 E for the cost and the effectiveness, respectively:…”
Section: The Cost-effectiveness Probability Criterionmentioning
confidence: 99%
“…The present paper develops cost‐effectiveness metrics that simultaneously utilize multiple effectiveness outcomes. The metrics proposed extend the cost‐effectiveness probability (CEP) metric in Bebu et al 7 to multiple effectiveness measures. The CEP is defined as the probability that a new treatment is less costly and more effective compared to a standard treatment.…”
Section: Introductionmentioning
confidence: 99%
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