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2023-12-28

Arrow KJ. Uncertainty and the Welfare Economics of Medical Care. The American Economic Review. 1963;53(5):941-973.

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Theory /Hypothesis

Systems

Economics

Health economics

A paper by one of the 'founding fathers' of health economics describing particular constraints of medical care as including the need to manage uncertainty in both disease processes and in the efficacy of treatments and the asymmetry of information between patients and doctors

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