This paper considers econometric issues related to time-series data that have been subject to abrupt governmental interventions. The motivating example for this study is the Brazilian monthly in¯ation rate (1974 : 1±1993 : 6) which we use throughout for illustration. This series has been heavily in¯
Stochastic league tables: an application to diabetes interventions in the Netherlands
✍ Scribed by Raymond C. W. Hutubessy; Louis W. Niessen; Rob F. Dijkstra; Ton F. Casparie; Frans F. Rutten
- Publisher
- John Wiley and Sons
- Year
- 2005
- Tongue
- English
- Weight
- 295 KB
- Volume
- 14
- Category
- Article
- ISSN
- 1057-9230
- DOI
- 10.1002/hec.945
No coin nor oath required. For personal study only.
✦ Synopsis
Abstract
The aim of this paper is to discuss the use of stochastic league tables approach in cost‐effectiveness analysis of diabetes interventions. It addresses the common grounds and differences with other methods of presenting uncertainty to decision‐makers.
This comparison uses the cost‐effectiveness results of medical guidelines for Dutch diabetes type 2 patients in primary and secondary care.
Stochastic league tables define the optimum expansion pathway as compared to baseline, starting with the least costly and most cost‐effective intervention mix. Multi‐intervention cost‐effectiveness acceptability curves are used as a way to represent uncertainty information on the cost‐effectiveness of single interventions as compared to a single alternative. The stochastic league table for diabetes interventions shows that in case of low budgets treatment of secondary care patients is the most likely optimum choice. Current care options of diabetes complications are shown to be inefficient compared to guidelines treatment. With more resources available one may implement all guidelines and improve efficiency.
The stochastic league table approach and multi‐intervention cost‐effectiveness acceptability curves in uncertainty analysis lead to similar results. In addition, the stochastic league table approach provides policy makers with information on affordability by budget level. It fulfils more adequately the information requirements to choose between interventions, using the efficiency criterion. Copyright © 2004 John Wiley & Sons, Ltd.
📜 SIMILAR VOLUMES
## Abstract We construct a model of rent‐maximizing behaviour by a single seller of timber in the absence of a formal market, deriving the stochastic implications of rent maximization for timber prices (stumpage rates) when other input and output (lumber) prices are random. Subsequently, we examine