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The informative content of diagnostic tests: An economic analysis

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  • Eeckhoudt, Louis R.
  • Lebrun, Thérèse C.
  • Sailly, Jean-Claude L.

Abstract

In medical literature the value of diagnostic tests is most of the time appreciated from their statistical properties (sensitivity and specificity) and from the prevalence of a given disease. In this paper we also take into account economic parameters such as the benefits and costs of the potential treatment under consideration and we present a simple and flexible algebraic expression of the informative value of a test. In this way the informative content of a test can be easily evaluated and the quality of an existing test can be compared to that of a theoretically 'perfect' one. Two examples taken from the medical literature illustrate our approach.

Suggested Citation

  • Eeckhoudt, Louis R. & Lebrun, Thérèse C. & Sailly, Jean-Claude L., 1984. "The informative content of diagnostic tests: An economic analysis," Social Science & Medicine, Elsevier, vol. 18(10), pages 873-880, January.
    • Handle: RePEc:eee:socmed:v:18:y:1984:i:10:p:873-880
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    Citations

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    Cited by:

    1. Eeckhoudt, Louis & Bauwens, Luc & Lebrun, Thérèse, 1987. "Théorie de l’information et diagnostic médical : une analyse coût-efficacité," L'Actualité Economique, Société Canadienne de Science Economique, vol. 63(2), pages 243-255, juin et s.
    2. Han Bleichrodt & David Crainich & Louis Eeckhoudt & Nicolas Treich, 2020. "Risk aversion and the value of diagnostic tests," Theory and Decision, Springer, vol. 89(2), pages 137-149, September.
    3. Philippe Delquié, 2008. "The Value of Information and Intensity of Preference," Decision Analysis, INFORMS, vol. 5(3), pages 129-139, September.
    4. Luis Eeckhoudt & Christian Gollier & Giovanni Immordino, 2001. "How Diagnostic Tests Affect Prevention: a Cost-Benefit Analysis," CSEF Working Papers 53, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    5. Stefan Felder & Thomas Mayrhofer, 2018. "Threshold analysis in the presence of both the diagnostic and the therapeutic risk," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 19(7), pages 1019-1026, September.
    6. Lukas, Daniel, 2010. "Patient autonomy and education in specific medical knowledge," Dresden Discussion Paper Series in Economics 07/10, Technische Universität Dresden, Faculty of Business and Economics, Department of Economics.
    7. Rapp, Thomas, 2014. "Patients' diagnosis decisions in Alzheimer's disease: The influence of family factors," Social Science & Medicine, Elsevier, vol. 118(C), pages 9-16.
    8. Osimani, Barbara, 2012. "Risk information processing and rational ignoring in the health context," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 41(2), pages 169-179.
    9. Johanna Etner & Meglena Jeleva, 2013. "Risk Perception, Prevention And Diagnostic Tests," Health Economics, John Wiley & Sons, Ltd., vol. 22(2), pages 144-156, February.

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