Ideas

Entry No

111

Source

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

Source link

Link

Source Type

Theory /Hypothesis

Main Domain

Systems

Sub-domain 1

Organisations - healthcare

Sub-domain 2

Health economics

Key Points

Reckoned to be one the founding fathers of health economics by showing in this much cited paper and empirical studies that the special economic problems of medical care can be explained by adaptations to uncertainty in both disease processes and the efficacy of treatments. His work include studies on the asymmetry of information between patients and doctors health care insurance

Citns Jan 24

12,066

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