Table of contents

  1. Front Matter
    Pages i-xvii
  2. Stefan Felder, Thomas Mayrhofer
    Pages 1-5
  3. Stefan Felder, Thomas Mayrhofer
    Pages 7-20
  4. Stefan Felder, Thomas Mayrhofer
    Pages 21-39
  5. Stefan Felder, Thomas Mayrhofer
    Pages 41-59
  6. Stefan Felder, Thomas Mayrhofer
    Pages 61-81
  7. Stefan Felder, Thomas Mayrhofer
    Pages 83-97
  8. Stefan Felder, Thomas Mayrhofer
    Pages 99-120
  9. Stefan Felder, Thomas Mayrhofer
    Pages 121-142
  10. Stefan Felder, Thomas Mayrhofer
    Pages 143-159
  11. Stefan Felder, Thomas Mayrhofer
    Pages 161-189
  12. Stefan Felder, Thomas Mayrhofer
    Pages 191-192
  13. Back Matter
    Pages 193-200

About this book

Introduction

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.

 

Keywords

Bayes' Theorem Expected Utility Medical Decision Making Test and Treatment Thresholds Valuing Health and Life

Authors and affiliations

  • Stefan Felder
    • 1
  • Thomas Mayrhofer
    • 2
  1. 1., Lehrstuhl für VWL, insb. GesundheitsökonUniversität Duisburg-EssenEssenGermany
  2. 2., Lehrstuhl für VWL, insb. GesundheitsökonUniversität Duisburg-EssenEssenGermany

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-642-18330-0
  • Copyright Information Springer-Verlag Berlin Heidelberg 2011
  • Publisher Name Springer, Berlin, Heidelberg
  • eBook Packages Business and Economics
  • Print ISBN 978-3-642-18329-4
  • Online ISBN 978-3-642-18330-0
  • About this book