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This textbook offers a comprehensive analysis of medical decision making under uncertainty by combining Test Information Theory with Expected Utility Theory. 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 outcome is chosen by the decision maker. Moreover, 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 becomes endogenous. Finally, non-expected utility models of choice under risk and uncertainty (i.e., ambiguity) are presented. While these models can explain observed test and treatment decisions, they are not suitable for normative analyses aimed at providing guidance on medical decision making.

Operations research. --- Decision making. --- Health care management. --- Health services administration. --- Public health. --- Epidemiology. --- Statistics. --- Health economics. --- Medical economics. --- Economics. --- Health Economics. --- Public Health. --- Health Care Management. --- Operation Research/Decision Theory. --- Statistics for Life Sciences, Medicine, Health Sciences. --- Economics, Medical --- Health --- Health economics --- Hygiene --- Medical care --- Medicine --- Statistical analysis --- Statistical data --- Statistical methods --- Statistical science --- Community health --- Health services --- Hygiene, Public --- Hygiene, Social --- Public health services --- Public hygiene --- Sanitary affairs --- Social hygiene --- Health administration --- Health care administration --- Health care management --- Health sciences administration --- Health services management --- Deciding --- Decision (Psychology) --- Decision analysis --- Decision processes --- Making decisions --- Management --- Management decisions --- Operational analysis --- Operational research --- Economic aspects --- Administration --- Decision making --- Operations Research/Decision Theory. --- Mathematics --- Econometrics --- Diseases --- Public health --- Health planning --- Public health administration --- Industrial engineering --- Management science --- Research --- System theory --- Statistics . --- Choice (Psychology) --- Problem solving --- Human services --- Biosecurity --- Health literacy --- Medicine, Preventive --- National health services --- Sanitation

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Hygiene. Public health. Protection --- Epidemiology --- gezondheidszorg --- epidemiologie

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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.

Economics --- Operational research. Game theory --- Mathematical statistics --- Biomathematics. Biometry. Biostatistics --- Hygiene. Public health. Protection --- Epidemiology --- Planning (firm) --- volksgezondheid --- biomathematica --- biostatistiek --- economie --- gezondheidszorg --- mathematische modellen --- gezondheidseconomie --- epidemiologie --- biometrie --- econometrie --- operationeel onderzoek --- Medicine --- Medical economics. --- Decision making.

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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.  

Hygiene. Public health. Protection --- Epidemiology --- gezondheidszorg --- epidemiologie