Medical decision making : a health economic primer / Stefan Felder, Thomas Mayrhofer.
Felder, Stefan, 1960- author.; Mayrhofer, Thomas, author.
2022
R723.5 F45 2022
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Title
Medical decision making : a health economic primer / Stefan Felder, Thomas Mayrhofer.
Author
Felder, Stefan, 1960- author.
Edition
Third edition.
ISBN
9783662646540 (electronic bk.)
3662646544 (electronic bk.)
9783662646533
3662646536
DOI
https://doi.org/10.1007/978-3-662-64654-0
Published
Berlin : Springer, [2022]
Copyright
©2022
Language
English
Description
1 online resource : illustrations (some color)
Item Number
10.1007/978-3-662-64654-0 doi
Call Number
R723.5 F45 2022
Dewey Decimal Classification
610
Summary
This textbook offers a comprehensive analysis of medical decision-making under uncertainty by combining test information theory with expected utility theory. The authors show how the parameters of Bayes theorem can be combined with a value function of health states in order to arrive at informed test and treatment decisions in the face of diagnostic and therapeutic risks. Distinguishing between risk-neutral, risk-averse, and prudent decision-makers, they demonstrate the effects of risk preferences on medical decisions. Furthermore, they analyze individual and multiple tests as well as diagnostic models in which the decision-maker chooses the test outcome. The consequences of test and treatment decisions for the patient are encompassed by quality-adjusted life years (QALYs) and the standard economic model, which applies the willingness to pay for health approach. Lastly, non-expected utility models of choice under risk and uncertainty are presented. Although these models can explain some of the test and treatment decisions observed, they are less suitable for normative analyses aimed at providing guidance on medical decision-making. This third edition provides extensively revised versions of all chapters and reflects recent innovations in medical decision-making such as decision curve analysis. New chapters focus on the health economics of and revealed preferences in medical decisions. The book is intended for students of (health) economics and medicine as well as for medical decision-makers and physicians dealing with uncertainty in their test and treatment decisions.
Bibliography, etc. Note
Includes bibliographical references and index.
Access Note
Access limited to authorized users.
Source of Description
Online resource; title from PDF title page (SpringerLink, viewed April 13, 2022).
Added Author
Mayrhofer, Thomas, author.
Available in Other Form
Print version: 9783662646533
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Chapter 1. Introduction
Chapter 2. Basic Tools in Medical Decision Making
Chapter 3. Basic Tools in Economics: Preferences, Expected Utility, Risk Aversion and Prudence
Chapter 4. Treatment Decisions
Chapter 5. Test and Treatment Decisions
Chapter 6. Prudence and Medical Decision Making
Chapter 7. Optimal Strategy for Multiple Diagnostic Tests
Chapter 8. The Optimal Cut-off of a Diagnostic Test
Chapter 9. The Total Value of Information of a Test
Chapter 10. The Economics of Medical Decision Making
Chapter 11. Valuing Health and Life
Chapter 12. Revealed Preference in Medical Decisions
Chapter 13. Imperfect Agency and Non-Expected Utility Models.

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