Abstract There is broad agreement that, in cost-effectiveness analyses, all future costs and health consequences should be stated in terms of their “present value” to the decision maker. Only then will the interventions’ cost-effectiveness ratios be appropriately adjusted for the differential timing of costs and consequences so that the decision maker can compare each from the same temporal baseline. Virtually all checklists of the methodological “commandments” on how to conduct CEAs include such injunctions (e.g., Drummond et al., 1987; Eisenberg, 1989).
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