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Full-Text Articles in Public Economics
I Don't Know, Philip E. Graves
I Don't Know, Philip E. Graves
PHILIP E GRAVES
This is a non-fiction novel, titled I Don't Know. I is in three parts, the first economic (which will seem "liberal" to most), the second political (which will seem "conservative" to most), and the third theological (which will seem weird to most). I think you will find it a fun read, and feel free to distribute it at will.
The Bias Against New Innovations In Health Care:Value Uncertainty And Willingness To Pay, Surrey M. Walton, Philip E. Graves, Peter R. Mueser, Jay K. Dow
The Bias Against New Innovations In Health Care:Value Uncertainty And Willingness To Pay, Surrey M. Walton, Philip E. Graves, Peter R. Mueser, Jay K. Dow
PHILIP E GRAVES
This paper offers a model for the bias found in willingness-to-pay valuations against new treatments. For example, this bias provides an explanation for patient preferences that make it difficult for formularies to take treatments off their lists, even when newer treatments would appear to be clearly preferable. The appeal of the model, which is based on imperfect information, is that it is consistent with rational preferences and rational behavior by patients, which are necessary for standard models and methods related to decision theory, costeffectiveness, and efficiency.