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Suggested Citation:"Front Matter." Institute of Medicine and National Research Council. 2014. Considerations in Applying Benefit-Cost Analysis to Preventive Interventions for Children, Youth, and Families: Workshop Summary. Washington, DC: The National Academies Press. doi: 10.17226/18708.
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CONSIDERATIONS
IN APPLYING

BENEFIT-COST
ANALYSIS


to Preventive Interventions
for Children, Youth,
and Families

WORKSHOP SUMMARY

Steve Olson and Kimber Bogard, Rapporteurs


Board on Children, Youth, and Families

                INSTITUTE OF MEDICINE AND       
NATIONAL RESEARCH COUNCIL
                         OF THE NATIONAL ACADEMIES

THE NATIONAL ACADEMIES PRESS

Washington, D.C.

www.nap.edu

Suggested Citation:"Front Matter." Institute of Medicine and National Research Council. 2014. Considerations in Applying Benefit-Cost Analysis to Preventive Interventions for Children, Youth, and Families: Workshop Summary. Washington, DC: The National Academies Press. doi: 10.17226/18708.
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THE NATIONAL ACADEMIES PRESS   500 Fifth Street, NW   Washington, DC 20001

NOTICE: The workshop that is the subject of this workshop summary was approved by the Governing Board of the National Research Council, whose members are drawn from the councils of the National Academy of Sciences, the National Academy of Engineering, and the Institute of Medicine.

This activity was supported by Contract/Grant No.13-103067-000-USP between the National Academy of Sciences and the MacArthur Foundation. The views presented in this publication do not necessarily reflect the views of the organizations or agencies that provided support for the activity.

International Standard Book Number-13: 978-0-309-30105-3
International Standard Book Number-10: 0-309-30105-X

Additional copies of this workshop summary are available for sale from the National Academies Press, 500 Fifth Street, NW, Keck 360, Washington, DC 20001; (800) 624-6242 or (202) 334-3313; http://www.nap.edu.

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Copyright 2014 by the National Academy of Sciences. All rights reserved.

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Suggested citation: IOM (Institute of Medicine) and NRC (National Research Council). 2014. Considerations in applying benefit-cost analysis to preventive interventions for children, youth, and families: Workshop summary. Washington, DC: The National Academies Press.

Suggested Citation:"Front Matter." Institute of Medicine and National Research Council. 2014. Considerations in Applying Benefit-Cost Analysis to Preventive Interventions for Children, Youth, and Families: Workshop Summary. Washington, DC: The National Academies Press. doi: 10.17226/18708.
×

THE NATIONAL ACADEMIES

Advisers to the Nation on Science, Engineering, and Medicine

The National Academy of Sciences is a private, nonprofit, self-perpetuating society of distinguished scholars engaged in scientific and engineering research, dedicated to the furtherance of science and technology and to their use for the general welfare. Upon the authority of the charter granted to it by the Congress in 1863, the Academy has a mandate that requires it to advise the federal government on scientific and technical matters. Dr. Ralph J. Cicerone is president of the National Academy of Sciences.

The National Academy of Engineering was established in 1964, under the charter of the National Academy of Sciences, as a parallel organization of outstanding engineers. It is autonomous in its administration and in the selection of its members, sharing with the National Academy of Sciences the responsibility for advising the federal government. The National Academy of Engineering also sponsors engineering programs aimed at meeting national needs, encourages education and research, and recognizes the superior achievements of engineers. Dr. C. D. Mote, Jr., is president of the National Academy of Engineering.

The Institute of Medicine was established in 1970 by the National Academy of Sciences to secure the services of eminent members of appropriate professions in the examination of policy matters pertaining to the health of the public. The Institute acts under the responsibility given to the National Academy of Sciences by its congressional charter to be an adviser to the federal government and, upon its own initiative, to identify issues of medical care, research, and education. Dr. Harvey V. Fineberg is president of the Institute of Medicine.

The National Research Council was organized by the National Academy of Sciences in 1916 to associate the broad community of science and technology with the Academy’s purposes of furthering knowledge and advising the federal government. Functioning in accordance with general policies determined by the Academy, the Council has become the principal operating agency of both the National Academy of Sciences and the National Academy of Engineering in providing services to the government, the public, and the scientific and engineering communities. The Council is administered jointly by both Academies and the Institute of Medicine. Dr. Ralph J. Cicerone and Dr. C. D. Mote, Jr., are chair and vice chair, respectively, of the National Research Council.

www.national-academies.org

Suggested Citation:"Front Matter." Institute of Medicine and National Research Council. 2014. Considerations in Applying Benefit-Cost Analysis to Preventive Interventions for Children, Youth, and Families: Workshop Summary. Washington, DC: The National Academies Press. doi: 10.17226/18708.
×

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Suggested Citation:"Front Matter." Institute of Medicine and National Research Council. 2014. Considerations in Applying Benefit-Cost Analysis to Preventive Interventions for Children, Youth, and Families: Workshop Summary. Washington, DC: The National Academies Press. doi: 10.17226/18708.
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PLANNING COMMITTEE ON STANDARDS FOR BENEFIT-COST ANALYSIS OF PREVENTIVE INTERVENTIONS FOR CHILDREN, YOUTH, AND FAMILIES1

JEANNE BROOKS-GUNN (Chair), Virginia & Leonard Marx Professor of Child Development, Columbia University

ANIRBAN BASU, Associate Professor and Director, University of Washington, Seattle

JANET CURRIE, Henry Putman Professor of Economics and Public Affairs, Princeton University School of Public and International Affairs

JORGE DELVA, Professor and Associate Dean for Research, School of Social Work, University of Michigan

ROSEANNE FLORES, Associate Professor of Psychology, Hunter College, City University of New York

J. DAVID HAWKINS, Endowed Professor of Prevention, School of Social Work, University of Washington, Seattle

LYNN KAROLY, Senior Economist, RAND Corporation

MELANIE LUTENBACHER, Associate Professor of Nursing and Medicine, Vanderbilt University

DAN ROSENBAUM, Senior Economist, Economic Policy Division, U.S. Office of Management and Budget

GARY VANLANDINGHAM, Director, Pew Charitable Trusts

Project Staff

KIMBER BOGARD, Project Director (from November 2013)

JOSHUA JOSEPH, Project Director (until November 2013)

WENDY KEENAN, Program Associate

DOUGLAS KANOVSKY, Senior Program Assistant

_____________________

1 Institute of Medicine planning committees are solely responsible for organizing the workshop, identifying topics, and choosing speakers. The responsibility for the published workshop summary rests with the workshop rapporteurs and the institution.

Suggested Citation:"Front Matter." Institute of Medicine and National Research Council. 2014. Considerations in Applying Benefit-Cost Analysis to Preventive Interventions for Children, Youth, and Families: Workshop Summary. Washington, DC: The National Academies Press. doi: 10.17226/18708.
×

Board on Children, Youth, and Families Staff

FAYE HILLMAN, Financial Associate

PAMELLA ATAYI, Administrative Assistant

KIMBER BOGARD, Director

Suggested Citation:"Front Matter." Institute of Medicine and National Research Council. 2014. Considerations in Applying Benefit-Cost Analysis to Preventive Interventions for Children, Youth, and Families: Workshop Summary. Washington, DC: The National Academies Press. doi: 10.17226/18708.
×

REVIEWERS

This workshop summary has been reviewed in draft form by individuals chosen for their diverse perspectives and technical expertise, in accordance with procedures approved by the National Research Council’s Report Review Committee. The purpose of this independent review is to provide candid and critical comments that will assist the institution in making its published workshop summary as sound as possible and to ensure that the workshop summary meets institutional standards for objectivity, evidence, and responsiveness to the study charge. The review comments and draft manuscript remain confidential to protect the integrity of the process. We wish to thank the following individuals for their review of this workshop summary:

Anirban Basu, University of Washington

Lynn A. Karoly, RAND Corporation

Irwin Sandler, Arizona State University

David L. Weimer, University of Wisconsin

Although the reviewers listed above have provided many constructive comments and suggestions, they did not see the final draft of the workshop summary before its release. The review of this workshop summary was overseen by Hugh H. Tilson, University of North Carolina at Chapel Hill. Appointed by the Institute of Medicine, he was responsible for making certain that an independent examination of this workshop summary was carried out in accordance with institutional procedures and that all review comments were carefully considered. Responsibility for the final content of this workshop summary rests entirely with the rapporteurs and the institution.

Page viii Cite
Suggested Citation:"Front Matter." Institute of Medicine and National Research Council. 2014. Considerations in Applying Benefit-Cost Analysis to Preventive Interventions for Children, Youth, and Families: Workshop Summary. Washington, DC: The National Academies Press. doi: 10.17226/18708.
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Suggested Citation:"Front Matter." Institute of Medicine and National Research Council. 2014. Considerations in Applying Benefit-Cost Analysis to Preventive Interventions for Children, Youth, and Families: Workshop Summary. Washington, DC: The National Academies Press. doi: 10.17226/18708.
×
Suggested Citation:"Front Matter." Institute of Medicine and National Research Council. 2014. Considerations in Applying Benefit-Cost Analysis to Preventive Interventions for Children, Youth, and Families: Workshop Summary. Washington, DC: The National Academies Press. doi: 10.17226/18708.
×
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Suggested Citation:"Front Matter." Institute of Medicine and National Research Council. 2014. Considerations in Applying Benefit-Cost Analysis to Preventive Interventions for Children, Youth, and Families: Workshop Summary. Washington, DC: The National Academies Press. doi: 10.17226/18708.
×
Page R2
Suggested Citation:"Front Matter." Institute of Medicine and National Research Council. 2014. Considerations in Applying Benefit-Cost Analysis to Preventive Interventions for Children, Youth, and Families: Workshop Summary. Washington, DC: The National Academies Press. doi: 10.17226/18708.
×
Page R3
Suggested Citation:"Front Matter." Institute of Medicine and National Research Council. 2014. Considerations in Applying Benefit-Cost Analysis to Preventive Interventions for Children, Youth, and Families: Workshop Summary. Washington, DC: The National Academies Press. doi: 10.17226/18708.
×
Page R4
Suggested Citation:"Front Matter." Institute of Medicine and National Research Council. 2014. Considerations in Applying Benefit-Cost Analysis to Preventive Interventions for Children, Youth, and Families: Workshop Summary. Washington, DC: The National Academies Press. doi: 10.17226/18708.
×
Page R5
Suggested Citation:"Front Matter." Institute of Medicine and National Research Council. 2014. Considerations in Applying Benefit-Cost Analysis to Preventive Interventions for Children, Youth, and Families: Workshop Summary. Washington, DC: The National Academies Press. doi: 10.17226/18708.
×
Page R6
Suggested Citation:"Front Matter." Institute of Medicine and National Research Council. 2014. Considerations in Applying Benefit-Cost Analysis to Preventive Interventions for Children, Youth, and Families: Workshop Summary. Washington, DC: The National Academies Press. doi: 10.17226/18708.
×
Page R7
Page viii Cite
Suggested Citation:"Front Matter." Institute of Medicine and National Research Council. 2014. Considerations in Applying Benefit-Cost Analysis to Preventive Interventions for Children, Youth, and Families: Workshop Summary. Washington, DC: The National Academies Press. doi: 10.17226/18708.
×
Page R8
Suggested Citation:"Front Matter." Institute of Medicine and National Research Council. 2014. Considerations in Applying Benefit-Cost Analysis to Preventive Interventions for Children, Youth, and Families: Workshop Summary. Washington, DC: The National Academies Press. doi: 10.17226/18708.
×
Page R9
Suggested Citation:"Front Matter." Institute of Medicine and National Research Council. 2014. Considerations in Applying Benefit-Cost Analysis to Preventive Interventions for Children, Youth, and Families: Workshop Summary. Washington, DC: The National Academies Press. doi: 10.17226/18708.
×
Page R10
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Benefit-cost analyses hold great promise for influencing policies related to children, youth, and families. By comparing the costs of preventive interventions with the long-term benefits of those interventions, benefit-cost analysis provides a tool for determining what kinds of investments have the greatest potential to reduce the physical, mental, and behavioral health problems of young people. More generally, the growth of benefit-cost analysis as a field of research and practice represents an exciting and promising trend in the development and implementation of public policies.

The utility of benefit-cost analyses has been limited by a lack of uniformity in the methods and assumptions underlying these studies. For years, those who perform and those who use benefit-cost analyses have argued that the development and use of theoretical, technical, and reporting standards for benefit-cost analyses would enhance the validity of results, increase comparability across studies, and accelerate the progress of the field.

Considerations in Applying Benefit-Cost Analysis to Preventive Interventions for Children, Youth, and Families is the summary of a workshop convened by the Board on Children, Youth, and Families of the Institute of Medicine and the National Research Council in November 2013 as the first phase of a possible two-part effort directed toward guiding future benefit-cost studies and enhancing the relevance of benefit-cost analysis to governments and other organizations wanting to make sound prevention decisions. The workshop brought together leading practitioners in the field, researchers who study the methodological and analytic dimensions of benefit-cost analysis, and representatives of organizations that use the results of benefit-cost analyses to shape and implement public policies. This report discusses a wide range of issues about benefit-cost analysis, including the level of research rigor that should be met before results from an evaluation are used to estimate or predict outcomes in a cost-benefit analysis; best practices and methodologies for costing prevention interventions; prevention outcomes that currently lend themselves to monetization; processes and methodologies that should be used when linking prevention outcomes to avoided costs or increased revenues; and best methods for handling risk and uncertainty in estimates.

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