Document Detail

Medical technology adoption, uncertainty, and irreversibilities: is a bird in the hand really worth more than in the bush?
MedLine Citation:
PMID:  19267329     Owner:  NLM     Status:  MEDLINE    
The influence of current medical technology adoption decisions on the use of future potential interventions is often overlooked. Some health interventions, once exercised, restrict future potential interventions for both related and unrelated medical conditions. For example, treatment of a patient with an antibiotic may lead to resistance in that patient that precludes future treatment with the same or related compounds. This irreversibility raises the value of treatment modalities that preserve future treatment options. Surprisingly, partial reversibility with or without learning can either increase or decrease this value, depending on the distribution of patient types within the treated population. Evaluations that ignore these option values miss an important part of the welfare equation that is becoming increasingly important as individuals live longer and the stock of medical treatments increases.
Joshua Graff Zivin; Matthew Neidell
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Publication Detail:
Type:  Journal Article    
Journal Detail:
Title:  Health economics     Volume:  19     ISSN:  1099-1050     ISO Abbreviation:  Health Econ     Publication Date:  2010 Feb 
Date Detail:
Created Date:  2010-02-10     Completed Date:  2010-04-29     Revised Date:  -    
Medline Journal Info:
Nlm Unique ID:  9306780     Medline TA:  Health Econ     Country:  England    
Other Details:
Languages:  eng     Pagination:  142-53     Citation Subset:  IM    
Copyright Information:
Copyright (c) 2009 John Wiley & Sons, Ltd.
School of International Relations and Pacific Studies, University of California, San Diego, CA, USA.
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MeSH Terms
Cost-Benefit Analysis
Diffusion of Innovation*
Models, Statistical
Technology, Medical / economics*
United States

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