Risk-aversion and physicians' medical decision-making

J Health Econ. 1985 Sep;4(3):273-81. doi: 10.1016/0167-6296(85)90033-5.


In this paper, we examine a physician's optimal therapeutic decisions in a risky environment as well as his response to exogenous changes such as increased risk-aversion or improvements in medical technology. We also analyze the value of diagnostic information and its relationship with risk-aversion.

MeSH terms

  • Decision Making*
  • Diagnosis
  • Humans
  • Medical Laboratory Science
  • Models, Theoretical
  • Physicians*
  • Risk-Taking*
  • Therapeutics