Bayesian cost-effectiveness analysis from clinical trial data.
A key tool for assessing the relative cost-effectiveness of two treatments in health economics is the incremental C/E acceptability curve. We present Bayesian computations for this curve in the case where data on both costs and efficacy are available from a clinical trial. Analysis is given under various formulations of prior information. A case study is analysed in which reasonable prior information is shown to strengthen substantially the posterior inference, leading to a more conclusive assessment of cost-effectiveness. Calculations can be performed using readily available Bayesian software.
Department of Probability and Statistics, University of Sheffield, Sheffield S3 7RH, UK. a.ohagan@sheffield.ac.uk
A
A
O'Hagan
J W
JW
Stevens
J
J
Montmartin
D018927:Anti-Asthmatic Agents / Q000008:administration & dosage / Q000191:economics; D001249:Asthma / Q000188:drug therapy / Q000191:economics; D001499:Bayes Theorem; D003362:Cost-Benefit Analysis / Q000379:methods*; D006801:Humans; D018803:Models, Economic; D015337:Multicenter Studies as Topic; D009330:Nebulizers and Vaporizers; D016032:Randomized Controlled Trials as Topic / Q000191:economics*
D018927:Anti-Asthmatic Agents