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Food and Nutrition EconomicsFundamentals for Health Sciences$
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George C. Davis and Elena L. Serrano

Print publication date: 2016

Print ISBN-13: 9780199379118

Published to Oxford Scholarship Online: November 2017

DOI: 10.1093/oso/9780199379118.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 30 July 2021

Cost-Effectiveness and Cost–Benefit Analysis

Cost-Effectiveness and Cost–Benefit Analysis

Chapter:
(p.221) 16 Cost-Effectiveness and Cost–Benefit Analysis
Source:
Food and Nutrition Economics
Author(s):

George C. Davis

Elena L. Serrano

Publisher:
Oxford University Press
DOI:10.1093/oso/9780199379118.003.0016

Chapter 16 gives an overview of cost-effectiveness and cost-benefit analysis. Every year millions of dollars are spent on food and nutrition intervention programs that are designed to improve health. Given money can always be spent in many different ways leads to a natural question: How effective was the program, relative to how much it cost? There are two standard approaches to answering this question: a cost effectiveness analysis and a cost benefit analysis. The chapter covers the main questions that must be answered in doing either a cost effectiveness or cost benefit analysis. The main formulas in each approach are presented. The pros and cons of each approach are discussed. A hypothetical nutrition intervention program is carried throughout to provide context for the discussion.

Keywords:   cost identification analysis, cost effectiveness, cost effectiveness ratio, quality adjusted life years, QALYs, cost utility ratio, cost benefit analysis, net benefit, benefit cost ratio

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