Cost-effectiveness analysis

{
  "id": "MLC-T-ENV-006796",
  "term": "Cost-effectiveness analysis",
  "field": "Environment",
  "definition": "1. A comparison of alternative interventions in which costs are measured in monetary units and outcomes are measured in non-monetary units, e.g., reduced mortality or morbidity.\n\n2. An approach for comparing alternative programs or regulations when the benefits are difficult or impossible to translate into dollar terms. The benefits are referred to as 'effectiveness measures'. Costs are measured in monetary terms. Cost-effectiveness analysis employs a ratio analysis approach, for ranking alternative programs or regulations.\n\n3. Analysis that examines the cost in dollar terms and the benefits in nonmonetary terms. Typically used when quantifying the benefits are too difficult.\n\n4. Analytic technique that compares the cost of two or more alternatives with the same outcome. Alternatively: analytic technique that evaluates an alternative by how much it delivers per unit cost, or how much has to be spent per unit benefit\n\n5. Examines the costs associated with obtaining an additional unit of an environmental outcome. It is designed to identify the least expensive way of achieving a given environmental quality target, or the way of achieving the greatest improvement in some environmental target for a given expenditure of resources.",
  "abbreviation": "CEA",
  "subject": "Social and economic factors",
  "references": [
    "NLM/NICHSR 2004; MRA Thesaurus",
    "NYS 1998; MRA Thesaurus",
    "EPA Subject Matter Expert - Thurston",
    "DHS Risk Steering Committee Risk Lexicon 2010 Edition",
    "Economic Analyses Glossary; Preparing Economic Analyses Glossary"
  ],
  "url": "https://mlchart.com/terminology/environment/cost-effectiveness-analysis/"
}