Economists are great model builders. Studying human behaviour has taught them to rely on assumptions prior beliefs and to use sophisticated mathematics and statistical techniques to reach outcomes posteriors.
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In clinical trials the researcher is often restricted by instrumental precision priors and applies statistical techniques to reach scientific breakthroughs posteriors. However, in a world of finite resources, it is inevitable that there has to be a limit on the number of trials that can be carried out.
Thus is health economics born. Each of the eight chapters deals with a major issue in health decision analysis. Topics are dealt with in a manner that meets the anticipation of the impatient reader.
An important advantage of this book is the exercises at the end of chapter. The exercises include case studies.
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Practitioners will appreciate the use of case studies and Excel macros, although the examples given are mostly from the UK experience. As there is no limitation on the application of methods, interested readers may use their own case studies.
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Boxed examples and summaries also help identify key points. However, readers are expected to be familiar with the basic ideas and elementary texts in health economics. The authors implicitly assume that their views of health economic policy are equally relevant to both private and public health care systems as technical examinations of decision models for further clinical trials do not depend on health systems.
However, a more critical evaluation of health policy objectives may not be so neutral. This is an issue not considered directly relevant to the main theme of this book, which is practical and technical in nature. Models are, by their nature, abstractions of reality.
The issue of increasing sample information or performing further simulations to reduce parameter uncertainty is dealt with mainly in Chapter 6, Exercise 6. The simulations attempt to answer questions regarding the benefit of further tests, the worth of further research and the value of findings.
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A comparison of the Spectron and the Charnley. Applied Health Economics and Health Policy 3 78— PharmacoEconomics 12 54— Support Center Support Center.