CONSIDERATIONS BENEFIT-COST to Preventive Interventions |
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.
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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.
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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.
THE NATIONAL ACADEMIES
Advisers to the Nation on Science, Engineering, and Medicine
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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.
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.
Contents
1 INTRODUCTION AND THEMES OF THE WORKSHOP
2 BENEFIT-COST ANALYSES: EXAMPLES FROM THE FIELD
The Washington State Institute for Public Policy
3 ASSESSING THE COSTS AND BENEFITS OF INTERVENTIONS
An Ingredients Approach to Costing Preventive Interventions
Cost Analysis for Planning Purposes
Valuing the Outcomes of Intervention
4 ISSUES TO CONSIDER IN BENEFIT-COST ANALYSIS
Identifying Causal Estimates by Research Design
Designing Error-Tolerant Studies
Deciding What Evidence to Include
Issues with Randomized Controlled Trial Designs
Increasing the Comparability of Benefit-Cost Analyses