cost-benefit analysis

(redirected from Economic calculation)
Also found in: Dictionary, Thesaurus, Financial, Encyclopedia, Wikipedia.

cost-benefit analysis (CBA)

a type of economic evaluation of medical care expense. It compares the expected monetary benefit derived from different health interventions with the expected cost of providing each of the interventions to determine the best or most profitable option.

cost-benefit analysis

Cost-benefit evaluation Clinical trials A form of economic analysis from a social perspective, in which the costs of medical care are compared with the economic benefits of the care provided, with both the costs and benefits being expressed in monetary units; the benefits evaluated include projected ↓ in future health care costs and ↑ earning as a result of the intervention of interest. Cf Cost-effectiveness analysis.

cost-benefit analysis,

n the comparative study of the service or production costs of a service or item and its value to the subject.

cost-benefit analysis

References in periodicals archive ?
Such costs that are excluded--in effect, for religious reasons--from economic calculations, as part of the necessary "price of progress" that any good citizen should be willing to bear, include:
The Knowledge Problem and Economic Calculation in Development Aid
The net present value is used to compare and rank competing investment projects in the present value approach to economic calculation.
Hence, government cannot perform the rational economic calculation necessary for economic progress because the kind of knowledge required for such a task is dispersed among all individuals producing and consuming in a society rather than being centralized in one omniscient figure.
Land-Use Planning: Implications of the Economic Calculation Debate.
Holcombe wisely notes the fundamental importance of economic calculation and entrepreneurship, explaining the nature of economic profit as an indicator of economic progress and welfare enhancement.
The "same thing" in which lending and borrowing are done is money because only money provides the unit of economic calculation.
He discusses entrepreneurship, socialism, Ludwig von Mises and the start of the debate on economic calculation, the unjustified shift in the debate toward statics: the argument of formal similarity and the so-called mathematical solution, and Oskar Lange and the competitive solution.
Mises emphasized an intellectual division of knowledge in a private-property order that enables the formation of market prices for purposes of economic calculation, without which a rational use of the society's means of production is "impossible.
Adam Smith and Ludwig von Mises on Social Cooperation and Economic Calculation
1) Warnings by Austrian economists that central planning was doomed to fail because of the impossibility of performing economic calculation (Mises, 1981, 1990) and processing local knowledge (Hayek, 1945) fell on deaf ears.
Any classical liberal today can reenact the economic calculation debate as easily as an old soldier might reenact on his dinner table the battles of his youth.

Full browser ?