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Activity Number:
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143
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Type:
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Invited
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Date/Time:
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Monday, August 3, 2009 : 10:30 AM to 12:20 PM
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Sponsor:
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Section on Risk Analysis
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| Abstract - #303173 |
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Title:
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Uses and Generalizations of the Incremental Cost Effectiveness Ratio (ICER) in CE Health Studies
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Author(s):
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Andres Christen*+ and Peter Müller and Tina Shih
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Companies:
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Center for Mathematical Research and The University of Texas M.D. Anderson Cancer Center and The University of Texas M.D. Anderson Cancer Center
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Address:
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A.P. 302, Guanajuato, GTO, 36000, Mexico
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Keywords:
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ICER ; Health Cost Effectiveness ; Decision Theory
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Abstract:
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Analyzing a decision rule in terms of the possible utility functions that may justify it is very illustrating, and a clear interpretation of such utilities could justify the decision rule as "rational." On the contrary, it may be impossible to find any utility function sensible enough to justify a decision rule, and thus such practice may be criticized as "not rational." We analyze the Incremental Cost Effectiveness (CE) Ratio (ICER) base decision rule. We also study the alternative procedure of using the expected value of the ratio of incremental CE as opposed to the ratio of incremental expected CE. We show that the former turns out to be not easily justifiable as opposed to the straightforward justification of the latter. Moreover, we analyze the general applicability of the ICER and question its performance in extreme cases, proposing an alternative with a wider applicability.
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