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Studies in Risk and Uncertainty

Risk and Medical Decision Making

Authors: Eeckhoudt, Louis

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  • ISBN 978-1-4615-0991-2
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Hardcover $199.00
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About this book

For people interested in risk management, medical activity represents a stimulating field of study and thought. On the one hand, progress in medical knowledge and technology tends to reduce the risks to survival that individuals would face in the absence of appropriate diagnostic or therapeutic instruments. On the other hand, new medical technologies simultaneously create their own specific risks, sometimes simply because their effects are less well-known than those of established ones. In a sense any medical progress simultaneously generates new risks while destroying old ones. Moreover, unlike many financial risks that can be either divided or transferred to others (e.g. through diversification, insurance or social security) the personal aspects of medical risks are by essence indivisible and non-transferable. As a result, they are in a sense more threatening than financial risks for risk averse patients. These two facts explain and justify the growing interest in risk economics for the fields of medical decision making and health economics.

In Risk and Medical Decision Making, part 1 is developed inside the expected utility (E-U) model and analyses how comorbidity risks affect the well-known "test-treatment" thresholds. Part 2 is devoted to a specific non E-U model with the same purpose: how would one define a threshold in this context and how would one value a diagnostic test? In each of these two parts both diagnostic and therapeutic risks are considered.

Table of contents (10 chapters)

  • Introduction

    Eeckhoudt, Louis

    Pages 4-6

  • The Case of Diagnostic Risks in a Single Risk Environment

    Eeckhoudt, Louis

    Pages 8-27

  • The Introduction of “Comorbidity Risks” and the Treatment Threshold. The Notion of Prudence

    Eeckhoudt, Louis

    Pages 28-42

  • Treatment Decisions Under Therapeutic Risks

    Eeckhoudt, Louis

    Pages 43-58

  • The Value of Diagnostic Tests (Under Risk Neutrality)

    Eeckhoudt, Louis

    Pages 59-64

Buy this book

eBook $149.00
price for USA (gross)
  • ISBN 978-1-4615-0991-2
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $199.00
price for USA
  • ISBN 978-1-4020-7007-5
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $199.00
price for USA
  • ISBN 978-1-4613-5340-9
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Risk and Medical Decision Making
Authors
Series Title
Studies in Risk and Uncertainty
Series Volume
14
Copyright
2002
Publisher
Springer US
Copyright Holder
Springer Science+Business Media New York
eBook ISBN
978-1-4615-0991-2
DOI
10.1007/978-1-4615-0991-2
Hardcover ISBN
978-1-4020-7007-5
Softcover ISBN
978-1-4613-5340-9
Series ISSN
0926-972X
Edition Number
1
Number of Pages
V, 135
Topics