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International Symposium on Distributed Computing and Artificial Intelligence

DCAI 2017: Decision Economics: In the Tradition of Herbert A. Simon's Heritage pp 1–8Cite as

The Bayesian Cost–Effectiveness Decision Problem

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Part of the book series: Advances in Intelligent Systems and Computing ((AISC,volume 618))

Abstract

Cost–effectiveness analysis of medical treatments is a statistical decision problem whose aim is to choose an optimal treatment among a finite set of alternative treatments. It is assumed that the treatment selection is to be based on their cost and effectiveness.

In this paper we revise this statistical decision problem, discuss two utility functions, and assume Bayesian models for the cost and the effectiveness. For illustrating the performance of the utility functions an example with simulated data is presented.

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References

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Acknowledgements

This work has been support in part by grants ECO2013–47092–P and MTM2014–55372–P (MINECO, Spain).

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Authors and Affiliations

  1. Department of Statistics, University of Granada, Granada, Spain

    Elías Moreno

  2. Department of Quantitative Methods, University of Las Palmas de G. C., Las Palmas de Gran Canaria, Spain

    Francisco-José Vázquez–Polo, Miguel A. Negrín & María Martel–Escobar

Authors
  1. Elías Moreno
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  2. Francisco-José Vázquez–Polo
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  3. Miguel A. Negrín
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  4. María Martel–Escobar
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Corresponding author

Correspondence to Elías Moreno .

Editor information

Editors and Affiliations

  1. Department of Philosophical, Pedagogical, and Economic-Quantitative Sciences, Section of Economics and Quantitative Methods, University of Chieti-Pescara, Pescara, Italy

    Edgardo Bucciarelli

  2. Department of Economics, National Chengchi University, Taipei, Taiwan

    Shu-Heng Chen

  3. Departamento de Informática y Automática, Universidad de Salamanca, Salamanca, Spain

    Juan M. Corchado

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Moreno, E., Vázquez–Polo, FJ., Negrín, M.A., Martel–Escobar, M. (2018). The Bayesian Cost–Effectiveness Decision Problem. In: Bucciarelli, E., Chen, SH., Corchado, J. (eds) Decision Economics: In the Tradition of Herbert A. Simon's Heritage. DCAI 2017. Advances in Intelligent Systems and Computing, vol 618. Springer, Cham. https://doi.org/10.1007/978-3-319-60882-2_1

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  • DOI: https://doi.org/10.1007/978-3-319-60882-2_1

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-319-60881-5

  • Online ISBN: 978-3-319-60882-2

  • eBook Packages: EngineeringEngineering (R0)

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