Medical diagnosis as a problem in the economics of information

Doessel D.P. (1986) Medical diagnosis as a problem in the economics of information. Information Economics and Policy, 2 1: 49-68. doi:10.1016/0167-6245(86)90014-4


Author Doessel D.P.
Title Medical diagnosis as a problem in the economics of information
Journal name Information Economics and Policy   Check publisher's open access policy
ISSN 0167-6245
Publication date 1986-01-01
Sub-type Article (original research)
DOI 10.1016/0167-6245(86)90014-4
Volume 2
Issue 1
Start page 49
End page 68
Total pages 20
Subject 2002 Cultural Studies
Abstract Although medical diagnosis has been given some attention by economists in particular contexts, the phenomenon has not received the attention it deserves. This paper is an attempt to redress this imbalance. As with most real phenomena, there are special issues that characterise diagnosis. It is argued that the output of a diagnostic test is information about a person's disease status. This information is measured probabilistically in two ways viz. the predictive value of positive and negative tests results. The economic analysis of diagnosis involves a relevant combination of characteristics and Hicksian demand theory. It is shown that the purpose of undertaking diagnostic tests is crucial to the consumer's judgement of the importance of the two measures of diagnostic output. The argument is illustrated by reference to three alternative technologies for diagnosis of the upper gastrointestinal tract viz. single and double contrast barium meal radiology and fibre optic endoscopy.
Keyword characteristics theory
information output
innovation
Medical diagnosis
technology assessment
Q-Index Code C1
Q-Index Status Provisional Code
Institutional Status Unknown

Document type: Journal Article
Sub-type: Article (original research)
Collection: Scopus Import - Archived
 
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Created: Tue, 30 Aug 2016, 13:35:37 EST by System User