Skip to main content

Sage Social Science Thesaurus

Search from vocabulary

Content language

Concept information

... > social science subjects > health and social care > medical science > medicine > clinical medicine > medical decision making > basis for making the decision > monetary value
... > other subjects > natural sciences > life sciences > medical science > medicine > clinical medicine > medical decision making > basis for making the decision > monetary value

Preferred term

monetary value  

Definition

  • By avoiding the difficult and uncomfortable issue of assigning monetary values to intangible health benefits, cost-effectiveness analysis (CEA) sacrifices the easy decision rule of cost-benefit analysis (CBA): An intervention or program represents an economically appropriate use of scarce resources if and only if the value of its health benefits exceeds its costs. Unfortunately, for the analyst preparing a CEA and the decision-maker faced with the findings from a CEA, the monetization of intangible health benefits by CEA can only be avoided in appearance. [Source: Encyclopedia of Medical Decision Making; Monetary Value]

Broader concept

Belongs to group

URI

https://concepts.sagepub.com/social-science/concept/monetary_value

Download this concept:

RDF/XML TURTLE JSON-LD