IDEAS home Printed from https://ideas.repec.org/a/taf/apeclt/v19y2012i13p1243-1248.html
   My bibliography  Save this article

Patients' perceptions and treatment effectiveness: a reassessment using generalized maximum entropy

Author

Listed:
  • Sean M. Murphy
  • Dan L. Friesner
  • Robert Rosenman

Abstract

Recent research using Prospect Theory (PT) suggests that treatment history contributes to a frame of reference that introduces heterogeneity in patients' perceptions of how further treatment will improve their health status and carries over into an assessment of how effective the recent treatment was. Analysis using the Monotone Rank Estimator (MRE), a semi-parametric classical statistical technique that allows for heterogeneity across individual responses, supported this idea. This article checks whether the MRE results are accurate using an alternative technique, Generalized Maximum Entropy (GME), which more effectively incorporates heterogeneity through the assignment of support points (based on prior information) for the error term. The results are compared to those obtained previously with the MRE. In the new results, prior treatment outcomes do not appear to significantly affect patients' perceived outcomes for subsequent treatments, which contradicts the earlier findings.

Suggested Citation

  • Sean M. Murphy & Dan L. Friesner & Robert Rosenman, 2012. "Patients' perceptions and treatment effectiveness: a reassessment using generalized maximum entropy," Applied Economics Letters, Taylor & Francis Journals, vol. 19(13), pages 1243-1248, September.
    • Handle: RePEc:taf:apeclt:v:19:y:2012:i:13:p:1243-1248
    DOI: 10.1080/13504851.2011.619480
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/13504851.2011.619480
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/13504851.2011.619480?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    2. Sean Murphy & Robert Rosenman & Jonathan Yoder & Daniel Friesner, 2011. "Patients' perceptions and treatment effectiveness," Applied Economics, Taylor & Francis Journals, vol. 43(24), pages 3275-3288.
    3. Rachel Mann & John Brazier & Aki Tsuchiya, 2009. "A comparison of patient and general population weightings of EQ‐5D dimensions," Health Economics, John Wiley & Sons, Ltd., vol. 18(3), pages 363-372, March.
    4. Ali E. Abbas, 2006. "Maximum Entropy Utility," Operations Research, INFORMS, vol. 54(2), pages 277-290, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Charles-Cadogan, G., 2018. "Probability interference in expected utility theory," Journal of Mathematical Economics, Elsevier, vol. 78(C), pages 163-175.
    2. Anja Schwalm & You-Shan Feng & Jörn Moock & Thomas Kohlmann, 2015. "Differences in EQ-5D-3L health state valuations among patients with musculoskeletal diseases, health care professionals and healthy volunteers," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 16(8), pages 865-877, November.
    3. Seow Eng Ong & Davin Wang & Calvin Chua, 2023. "Disruptive Innovation and Real Estate Agency: The Disruptee Strikes Back," The Journal of Real Estate Finance and Economics, Springer, vol. 67(2), pages 287-317, August.
    4. Herrmann, Tabea & Hübler, Olaf & Menkhoff, Lukas & Schmidt, Ulrich, 2016. "Allais for the poor," Kiel Working Papers 2036, Kiel Institute for the World Economy (IfW Kiel).
    5. Christiane Goodfellow & Dirk Schiereck & Steffen Wippler, 2013. "Are behavioural finance equity funds a superior investment? A note on fund performance and market efficiency," Journal of Asset Management, Palgrave Macmillan, vol. 14(2), pages 111-119, April.
    6. Berg, Joyce E. & Rietz, Thomas A., 2019. "Longshots, overconfidence and efficiency on the Iowa Electronic Market," International Journal of Forecasting, Elsevier, vol. 35(1), pages 271-287.
    7. Reckers, Philip M.J. & Sanders, Debra L. & Roark, Stephen J., 1994. "The Influence of Ethical Attitudes on Taxpayer Compliance," National Tax Journal, National Tax Association;National Tax Journal, vol. 47(4), pages 825-836, December.
    8. Bier, Vicki & Gutfraind, Alexander, 2019. "Risk analysis beyond vulnerability and resilience – characterizing the defensibility of critical systems," European Journal of Operational Research, Elsevier, vol. 276(2), pages 626-636.
    9. Sitinjak Elizabeth Lucky Maretha & Haryanti Kristiana & Kurniasari Widuri & Sasmito Yohanes Wisnu Djati, 2019. "Investor behavior based on personality and company life cycle," HOLISTICA – Journal of Business and Public Administration, Sciendo, vol. 10(2), pages 23-38, August.
    10. Theo Arentze & Tao Feng & Harry Timmermans & Jops Robroeks, 2012. "Context-dependent influence of road attributes and pricing policies on route choice behavior of truck drivers: results of a conjoint choice experiment," Transportation, Springer, vol. 39(6), pages 1173-1188, November.
    11. van den Bergh, J.C.J.M. & Botzen, W.J.W., 2015. "Monetary valuation of the social cost of CO2 emissions: A critical survey," Ecological Economics, Elsevier, vol. 114(C), pages 33-46.
    12. Frank D. Hodge & Roger D. Martin & Jamie H. Pratt, 2006. "Audit Qualifications of Income†Decreasing Accounting Choices," Contemporary Accounting Research, John Wiley & Sons, vol. 23(2), pages 369-394, June.
    13. Philippe Fevrier & Sebastien Gay, 2005. "Informed Consent Versus Presumed Consent The Role of the Family in Organ Donations," HEW 0509007, University Library of Munich, Germany.
    14. Ran Sun Lyng & Jie Zhou, 2019. "Household Portfolio Choice Before and After a House Purchase," Economics Working Papers 2019-01, Department of Economics and Business Economics, Aarhus University.
    15. Homonoff, Tatiana & Spreen, Thomas Luke & St. Clair, Travis, 2020. "Balance sheet insolvency and contribution revenue in public charities," Journal of Public Economics, Elsevier, vol. 186(C).
    16. Shuang Yao & Donghua Yu & Yan Song & Hao Yao & Yuzhen Hu & Benhai Guo, 2018. "Dry Bulk Carrier Investment Selection through a Dual Group Decision Fusing Mechanism in the Green Supply Chain," Sustainability, MDPI, vol. 10(12), pages 1-19, November.
    17. Senik, Claudia, 2009. "Direct evidence on income comparisons and their welfare effects," Journal of Economic Behavior & Organization, Elsevier, vol. 72(1), pages 408-424, October.
    18. Rand Kwong Yew Low, 2018. "Vine copulas: modelling systemic risk and enhancing higher‐moment portfolio optimisation," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 58(S1), pages 423-463, November.
    19. Jose Apesteguia & Miguel Ballester, 2009. "A theory of reference-dependent behavior," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 40(3), pages 427-455, September.
    20. Shoji, Isao & Kanehiro, Sumei, 2016. "Disposition effect as a behavioral trading activity elicited by investors' different risk preferences," International Review of Financial Analysis, Elsevier, vol. 46(C), pages 104-112.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:apeclt:v:19:y:2012:i:13:p:1243-1248. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/RAEL20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.