Charles E. Phelps - Böcker

Systems engineering offers a set of capabilities and competencies to design and manage complex systems as they evolve. Drawing from social choice research and systems engineering practice, Making Better Choices examines how we make decisions together and the tools we use to arrive at those decisions. It takes a critical look at the rules and methods we apply to important decisions--from how we run meetings to how we elect presidents--with an interest in how we can improve these mechanisms. By reviewing different voting systems, their original intents, and their deficits, the authors outline a systems engineering approach to making collective choices in society. Written by an economist and an engineer, this groundbreaking work draws from insights in sociology, linguistics, law, political science, philosophy, psychology, economics, and systems design. In an era of relentless rating, this book offers a fresh vision for engineering better democracies by enabling diverse and inclusive choices

Cost-effectiveness analysis (CEA) plays an important role in health policy debates, helping to shape resource allocation and pricing decisions. Yet many economists also recognize that the current framework can offer misleading and incomplete results. Current CEA methods imply that health improvements are equally valuable to those in good health and poor health, which fails to recognize the increased value of health improvements for those with severe illness or disability. Valuing Health introduces the generalized risk-adjusted cost-effectiveness (GRACE) model as a more accurate method for determining the value of medical treatments and technologies. The GRACE model generalizes the underlying CEA assumption of constant gains in health care, demonstrating through diminishing returns the greater economic value of improving the quality of life for individuals with disability or severe illness. Valuing Health also provides sensitivity analyses to show how value measurements change alongside key parameters, including the potential effects of various combinations of risk preferences on the aggregate value of treating a defined population with any set of available treatments. It concludes with a discussion of the ethical differences between the CEA and GRACE methods and outlines steps for implementing the GRACE model to replace standard CEA as the proper method for valuing medical interventions.Valuing Health offers a revelatory reconceptualization of current valuation models in health economics with clear guidance for inclusive pricing and regulation that reflects the true value of modern health care.

Cost-effectiveness analysis (CEA) plays an important role in health policy debates, helping to shape resource allocation and pricing decisions. Yet many economists also recognize that the current framework can offer misleading and incomplete results. Current CEA methods imply that health improvements are equally valuable to those in good health and poor health, which fails to recognize the increased value of health improvements for those with severe illness or disability. Valuing Health introduces the generalized risk-adjusted cost-effectiveness (GRACE) model as a more accurate method for determining the value of medical treatments and technologies. The GRACE model generalizes the underlying CEA assumption of constant gains in health care, demonstrating through diminishing returns the greater economic value of improving the quality of life for individuals with disability or severe illness. Valuing Health also provides sensitivity analyses to show how value measurements change alongside key parameters, including the potential effects of various combinations of risk preferences on the aggregate value of treating a defined population with any set of available treatments. It concludes with a discussion of the ethical differences between the CEA and GRACE methods and outlines steps for implementing the GRACE model to replace standard CEA as the proper method for valuing medical interventions.Valuing Health offers a revelatory reconceptualization of current valuation models in health economics with clear guidance for inclusive pricing and regulation that reflects the true value of modern health care.

In this book, Phelps and Parente explore the US health care system and set out the case for its reform. They trace the foundations of today’s system, and show how distortions in the incentives facing participants in the health care market could be corrected in order to achieve lower costs, a higher quality of care, a higher level of patient safety, and a more efficient allocation of health care resources. Phelps and Parente propose novel yet economically robust changes to US tax law affecting health insurance coverage and related issues. They also discuss a series of specific improvements to Medicare and Medicaid, and assess potential innovations that affect all of health care, including chronic disease management, fraud and abuse detection, information technology, and other key issues.The Economics of US Health Care Policy will be illuminating reading for anyone with an interest in health policy, and will be a valuable supplementary text for courses in health economics and health policy, including for students without advanced training in economics.

In this book, Phelps and Parente explore the US health care system and set out the case for its reform. They trace the foundations of today’s system, and show how distortions in the incentives facing participants in the health care market could be corrected in order to achieve lower costs, a higher quality of care, a higher level of patient safety, and a more efficient allocation of health care resources. Phelps and Parente propose novel yet economically robust changes to US tax law affecting health insurance coverage and related issues. They also discuss a series of specific improvements to Medicare and Medicaid, and assess potential innovations that affect all of health care, including chronic disease management, fraud and abuse detection, information technology, and other key issues.The Economics of US Health Care Policy will be illuminating reading for anyone with an interest in health policy, and will be a valuable supplementary text for courses in health economics and health policy, including for students without advanced training in economics.

Can we really use economic thinking to understand our health care system? Health Economics, now in its sixth edition, not only shows how this is done, but also provides the tools to analyze the economic behavior of patients and providers in health care markets.Health Economics combines current economic theory, recent research, and up-to-date empirical studies into a comprehensive overview of the field. Key changes to this edition include: additional discussion of the consequences of the Patient Protection and Affordable Care Act (PPACA), in light of current political changes;an extensive discussion of quality measures;more discussion of preventive services;a new section on drug markets and regulation;discussion of Accountable Care Organizations (ACOs);new references, problem sets, and an updated companion website with lecture slides.Designed for use in upper-division undergraduate economics studies, the book is suitable for students and lecturers in health economics, microeconomics, public health policy and practice, and health and society. It is also accessible to professional students in programs such as public policy, public health, business, and law.