Medical Decision Making
A Health Economic Primer
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Beschreibung
This textbook offers a comprehensive theory of medical decision making under uncertainty, combining informative test theory with the expected utility hypothesis. The book shows how the parameters of Bayes’ theorem can be combined with a value function of health states to arrive at informed test and treatment decisions. The authors distinguish between risk neutral, risk averse and prudent decision makers and demonstrate the effects of risk preferences on physicians’ decisions. They analyze individual tests, multiple tests and endogenous tests where the test result is determined by the decision maker. Finally, the topic is examined in the context of health economics by introducing a trade-off between enjoying health and consuming other goods, so that the extent of treatment and thus the potential improvement in the patient’s health become endogenous.
This textbook discusses medical decision making under uncertainty, combining informative test theory with the expected utility hypothesis. Readers will learn how the parameters of Bayes’ theorem can be combined with a value function of health states to arrive at informed test and treatment decisions.
This textbook offers a comprehensive theory of medical decision making under uncertainty, combining informative test theory with the expected utility hypothesis. The book shows how the parameters of Bayes’ theorem can be combined with a value function of health states to arrive at informed test and treatment decisions. The authors distinguish between risk neutral, risk averse and prudent decision makers and demonstrate the effects of risk preferences on physicians’ decisions. They analyze individual tests, multiple tests and endogenous tests where the test result is determined by the decision maker. Finally, the topic is examined in the context of health economics by introducing a trade-off between enjoying health and consuming other goods, so that the extent of treatment and thus the potential improvement in the patient’s health become endogenous.
Basic chapters on MDM tools and expected utility theory appeal to students of both medicine and economics
A comprehensive text on MDM under uncertainty for economists and physicians alike 54 illustrations, 18 boxes and further illustrative materials help the reader to grasp complex issues 31
Exercises and references for each chapter provide the opportunity to delve further into the subject matter
Autor*in
Stefan Felder
Themen in »Medical Decision Making«
Bayes' Theorem Expected Utility Medical Decision Making Test and Treatment Thresholds Valuing Health and Life