TY  - CHAP
AB  - Abstract In this chapter, we address the question of what health economic models represent. Are they realistic? And, does model realism matter? Or, is model usefulness in terms of informing pricing, reimbursement, and prescribing decisions all policymakers care about? The usefulness of models is circumscribed given that: (1) market failure is inherent in healthcare and (2) models oversimplify the preference structure underlying choices. We suggest, however, that models which employ the ceteris paribus clause can be useful in order to isolate factors that play a role in healthcare decision-making and ultimately characterize agents’ multiattribute utility functions through discrete choice experiments. As a result, policymakers gain important knowledge about decision criteria in the healthcare system.
VL  - 36B
SN  - 978-1-78756-423-7, 978-1-78756-424-4/0743-4154
DO  - 10.1108/S0743-41542018000036B002
UR  - https://doi.org/10.1108/S0743-41542018000036B002
AU  - Cohen Joshua P.
PY  - 2018
Y1  - 2018/01/01
TI  - Health Economic Modeling: Fact or Fiction? Useful to Policymakers in Spite of Untruths
T2  - Including a Symposium on Mary Morgan: Curiosity, Imagination, and Surprise
T3  - Research in the History of Economic Thought and Methodology
PB  - Emerald Publishing Limited
SP  - 11
EP  - 21
Y2  - 2024/05/06
ER  -