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Medical Decision Making

A Health Economic Primer

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This textbook provides a thorough examination of medical decision-making under uncertainty by integrating test information theory with expected utility theory. The authors illustrate how Bayes’ theorem parameters can be merged with a health states value function to facilitate informed decisions regarding tests and treatments amidst diagnostic and therapeutic risks. They differentiate between risk-neutral, risk-averse, and prudent decision-makers, showcasing how risk preferences influence medical choices. The analysis includes individual and multiple tests, along with diagnostic models where the decision-maker selects the test outcome. The impact of test and treatment decisions on patients is measured through quality-adjusted life years (QALYs) and the willingness to pay for health framework. Additionally, non-expected utility models are discussed, although they are less effective for normative analyses that guide medical decision-making. This third edition features extensively revised chapters reflecting recent advancements, including decision curve analysis, and introduces new chapters on health economics and revealed preferences in medical decisions. It is designed for students of health economics and medicine, as well as medical decision-makers and physicians navigating uncertainty in their choices.

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Medical Decision Making, Stefan Felder

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Pubblicato
2023
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