Edited by Marthe R. Gold, Joanna E. Siegel, Louise B. Russell, and Milton C. Weinstein. 425 pp. New York, Oxford University Press, 1996. $47.50. ISBN 0-19-510824-8.
Cost-effectiveness analysis has created excitement as a possibleway of meeting health care's most pressing challenge, the rationingof scarce resources. This book is by a panel of 16 nongovernmentscholars, including four physicians, who were convened by thePublic Health Service in 1993. The nine well-referenced chaptersall include plainly stated summaries, conclusions, and recommendations,although some figures are difficult to follow. The book dealsonly with cost-effectiveness analysis and not with other formsof economic analysis, such as cost–benefit analysis. Cost-effectivenessanalysis studies costs in terms of nonmonetary outcome, whereascost–benefit analysis reduces all events and outcomesto . . . [Full Text of this Article]
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