I think we care about the expected marginal cost-effectiveness (i.e. mean(“marginal effect”/”marginal cost”)). Both mean(“total effect”)/mean(“total cost”) and mean(“total effect”/”total cost”) are good approximations if our budget is small, but they might not be if the budget has to be large for some reason.
I think we care about the expected marginal cost-effectiveness (i.e. mean(“marginal effect”/”marginal cost”)). Both mean(“total effect”)/mean(“total cost”) and mean(“total effect”/”total cost”) are good approximations if our budget is small, but they might not be if the budget has to be large for some reason.