Compare the primary strengths and weaknesses of cost-benefit analysis cba cost-effectiveness analysis cea and cost-utility analysis cua

The cost effectiveness analysis is used to compare relative costs to outcomes and effects of two or more courses of action. Cost-utility analysis (CUA) method is used to measure utilities in terms of quantity and quality. However, this becomes difficult as it is difficult to perceive quality that may vary from individual to individual as each person may perceive it differently. In my view, cost effectiveness analysis is the safest and most suitable analysis option for economic evaluation as the cost utility analysis will not be suitable, as each utility in CUA is perceived differently so there is no standardization (Gafni, 2006). Secondly, cost benefit analysis may be under constraints that there are more than two effects or outcomes to be measured and thus the Cost effectiveness analysis method would be more suitable.