Bayesian cost-effectiveness analysis from clinical trial data

Stat Med. 2001 Mar 15;20(5):733-53. doi: 10.1002/sim.861.


A key tool for assessing the relative cost-effectiveness of two treatments in health economics is the incremental C/E acceptability curve. We present Bayesian computations for this curve in the case where data on both costs and efficacy are available from a clinical trial. Analysis is given under various formulations of prior information. A case study is analysed in which reasonable prior information is shown to strengthen substantially the posterior inference, leading to a more conclusive assessment of cost-effectiveness. Calculations can be performed using readily available Bayesian software.

Publication types

  • Research Support, Non-U.S. Gov't

MeSH terms

  • Anti-Asthmatic Agents / administration & dosage
  • Anti-Asthmatic Agents / economics
  • Asthma / drug therapy
  • Asthma / economics
  • Bayes Theorem*
  • Cost-Benefit Analysis / methods*
  • Humans
  • Models, Economic*
  • Multicenter Studies as Topic
  • Nebulizers and Vaporizers
  • Randomized Controlled Trials as Topic / economics*


  • Anti-Asthmatic Agents