Medical Decision Making A Health Economic Primer
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
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Stefan Felder
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Thomas Mayrhofer
Medical Decision Making A Health Economic Primer
Professor Dr. Stefan Felder University of Basel Faculty of Business and Economics Department of Health Economics Peter Merian-Weg 6 4002 Basel, Switzerland [email protected]
Dipl. Vw. Thomas Mayrhofer University of Duisburg-Essen Department of Business Administration and Economics Chair of Health Economics Schu¨tzenbahn 70 45117 Essen, Germany [email protected]
ISBN 978-3-642-18329-4 e-ISBN 978-3-642-18330-0 DOI 10.1007/978-3-642-18330-0 Springer Heidelberg Dordrecht London New York Library of Congress Control Number: 2011934360 # Springer-Verlag Berlin Heidelberg 2011 This work is subject to copyright. All rights are reserved, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilm or in any other way, and storage in data banks. Duplication of this publication or parts thereof is permitted only under the provisions of the German Copyright Law of September 9, 1965, in its current version, and permission for use must always be obtained from Springer. Violations are liable to prosecution under the German Copyright Law. The use of general descriptive names, registered names, trademarks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. Cover design: eStudio Calamar S.L. Printed on acid-free paper Springer is part of Springer Science+Business Media (www.springer.com)
Preface
The first author became acquainted with medical decision problems during his time as a faculty member of the department of medicine at the Otto-von-Guericke University of Magdeburg between 1997 and 2008. In his introductory lecture series on health economics he sought to combine the economic approach to decision making under uncertainty with clinical epidemiology. These lectures were the starting point for this textbook. He thanks his colleague Bernt-Peter Robra for his companionship and advice during this journey into the world of medicine. Robra also contributed some of the quotes which are included at the beginning of each chapter. The second author joined the project in 2008. He spent half the summer of 2009 preparing the first drafts of Chapters 4–6. The final text was elaborated during a sabbatical semester for the first author in the summer and autumn of 2010. The material was also covered in a lecture series on medical decision making held by both authors at the department of economics and business administration of Duisburg-Essen University in 2009 and 2010. We are thankful to the many students who have helped to improve the text with their questions and discussions. In preparing this manuscript we were supported by a team of students and research assistants at the Duisburg-Essen University. Linda Kerkemeyer helped with the literature and the identification
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