How cost-effectiveness analysis be utilized


Question: After defining cost-effectiveness analysis (CEA) and cost-benefit analysis (CBA), explore how cost-effectiveness analysis and cost-benefit analysis can be utilized to address complex budgetary issues within the public sector. Provide a detailed critique of the advantages and limitations of each framework in guiding fiscal policy decisions, particularly in the allocation of limited resources under conditions of uncertainty. Include an example from the public sector that demonstrates the application of either CEA or CBA in resolving a budgetary problem, analyzing the outcomes and lessons learned. With references

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