Nobel economics and information asymmetries health

Burkett P.

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Nobel economics and information asymmetries health

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Abstract

Americans Akerloff George A, A Michael Spence and Joseph E Stiglitz jointly received the Nobel Prize in economics October 11 last. The Royal Swedish Academy wanted to reward work "on markets with asymmetric information", which allow to consider how some agents have more information than others and consequence of this situation. This concept is often used in health economics, whether to model the relationship between insurance and patient, between physician and patient.

The winning works were made in the 1970s. They leave the study of bilateral relations, which constitute the foundation of economic life, and break it in with the theory of "general equilibrium" that prevailed until then. More realistic concepts have been applied to many sectors. The literature on asymmetric information from the situation where an offer or has inside information, which can make the transaction impossible. In effect, buyers, uncertain quality of the product, do wish to engage on low prices, which vendors offering products of good quality will not meet. This problem can for example concern the cars.

Introduction
Information asymmetries
Information asymmetries health
The example of insurance
The agency relationship between patient and physician
A concept which must be used in reference to the health system
Asymmetry of information and information systems
The interest of public health
Many questions remain unanswered
Establish impact on the drug
A paradigm shift?
The association created
Optimistic conclusion
Better information and better home
A persistent complexity
References

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[...] Medical information about it is the responsibility of health professionals, and is distributed in very different ways depending on the facilities and services. Similarly, there is a greater heterogeneity in the composition of the medical record and its accessibility (read WHO owns the medical records computerized?). In the case of paper file, yet majority of cases the architectures are different services, there is no single folder. When patients move from one service to another new file is opened and the former transferred completely or partially. [...]

[...] Establish impact on the drug The system will be set up will include two components: Before placing on the market: an analysis of public health impact of the product (the same as building a highway or factory requires an environmental impact study with a health component) After placing on the market: monitoring requirements, effectiveness, side effects criteria will be mobilized: Avoidable mortality * / avoided Avoidable morbidity / avoided Impact on the health system proposed / found Depending on the results of impact studies, the conditions of limitation and price will be amended. [...]

[...] The Director General of Health explained to participants how post-marketing surveillance of drug that could be considered, and the concept, linked to "public health interest" of the drug. The "public health interest", large forgotten the drug after marketing Until now the monitoring of a drug on the market was lacking, and the "interest of public health medicine, a term dear to Lucien Abenhaim, which appears in the October 1999 decree governing the transparency was neglected. What is the circuit's administrative medicine? [...]

[...] Chapter 9 compares the neoclassical school and the Austrian school, in particular in relation to falsifiability. Oskar Lange The Scope and Method of Economics, Review of Economic Studies One of the earliest studies on methodology of economics, analysing the postulate of rationality. N. B. de Marchi and M. Blaug., Appraising Economic Theories, Edward Elgar A series of essays and papers analysing questions about how (and whether) models and theories in economics are empirically verified and the current status of positivism in economics. Michio Morishima, The Economic Theory of Modern Society, Cambridge University Press A thorough [...]

[...] Journal of Finance 55 2747–2766. doi: 10.1111 /0022- Brown, Stephen; Hillegeist, Stephen; Lo, Kin (2004). "Conference calls and information asymmetry". Journal of Accounting and Economics 37 343–366. doi: 10.1016 /j.jacceco Akerlof, George A. (1970). "The Market for 'Lemons': Quality Uncertainty and the Market Mechanism". Quarterly Journal of Economics 84 488–500. http://www.jstor.org/stable/1879431. Hayes, Beth (1984). "Unions and Strikes with Asymmetric Information". Journal of Labor Economics 2 57-83. Izquierdo, Segismundo S.; Izquierdo, Luis R. (2007). "The impact of quality uncertainty without asymmetric information on market efficiency". [...]

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