Economic Evaluations

Economic evaluations allow us to systematically weigh the costs and consequences of two or more alternatives to support a judgement to be made about their respective merits.

Economic thinking also comes into many of our mixed-method evaluations, including the use of econometrics, health economics, and cost-benefit, cost-effectiveness and cost-consequence analysis.

Featured Research

  • A hand with a calculator against various European bills

    How Much Does Lack of Full EU Integration Cost?

    An analysis of the current state of play in the European free movement of goods allowed researchers to quantify costs due to a lack of full integration, drawing special attention to two sectors of the European economy: the construction materials sector and the medical devices sectors.

Selected Research

  • Businessman or politician taking bribe from a colleague handing him Euros

    Estimating the True Cost of Corruption in Europe

    22 Mar 2016

    Corruption—from paying bribes to exercising power, to giving privileged access to public services, goods or contracts—costs the EU up to €990bn annually in GDP, according to a study across all 28 EU member states.

  • X-ray picture of a knee

    Calculating the Economic Returns of Musculoskeletal Research

    26 Jan 2018

    A team of researchers from RAND Europe, King’s College London and HERG estimated the health and economic benefits of UK investment in medical research into musculoskeletal disease (MSD). Their best estimate of the internal rate of return from MSD-related research was 7%, which is similar to the 9% for cardiovascular disease and 10% for cancer research.

  • Assessing the Effectiveness of Conditional Cash Transfers as a Development Mechanism

    02 Nov 2016

    Conditional cash transfer programmes (CCTs) are seen as particularly effective in low- and middle-income countries, but relatively little is known about the interface between the supply of services and programme administration and specific human development outcomes. RAND Europe assessed the effectiveness of CCTs through a two-year grant from UK Economic Social Research Council and Department for International Development.

  • Caregiver with woman in wheelchair

    Investigating Social Impact Bonds for Health and Social Care

    20 Jul 2018

    Health and social care services in five SIB-funded projects were more flexibly provided than in similar non-SIB projects, but it is unclear whether this resulted in better client outcomes. Attribution of outcomes to the SIB-financed intervention should be prioritised in the future.

  • Recovery freeway exit sign

    Evaluation of drug and alcohol "payment by results" pilots

    03 May 2019

    Eight drug and alcohol recovery PbR pilots were evaluated to assess whether this new funding approach can stimulate the market to provide different services in these areas and encourage development of more effective recovery programmes.

  • Cancer cells in petri dishes

    Estimating the Economic Returns on Cancer Research in the UK

    16 Jun 2014

    The UK government invests approximately £1.6 billion in medical research each year, and the British public donated £1.7 billion to medical research charities in 2012-13. This funding delivers health gains for patients and also benefits the UK economy at a 40% return annually.