A Rationale for Searching (Imprecise) Health Information

Barigozzi, Francesca ; Levaggi, Rosella (2006) A Rationale for Searching (Imprecise) Health Information. Bologna: Dipartimento di Scienze economiche DSE, p. 28. DOI 10.6092/unibo/amsacta/4728. In: Quaderni - Working Paper DSE (559). ISSN 2282-6483.
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Abstract

We analyse a model of patient decision-making where anxiety about the future characterizes the patient’s utility function. Anxiety corresponds to fear of bad news and results in the patient being averse to information. First, the patient chooses the accuracy of a signal which discloses information on his health status. Then he up-dates his beliefs according to Bayes’s rule and chooses an action. We show that the choice of imprecise information can be optimal because it allows the patient to trade off the damage deriving from complete ignorance with the anxiety raised by the news about his health level.

Abstract
Document type
Monograph (Working Paper)
Creators
CreatorsAffiliationORCID
Barigozzi, Francesca
Levaggi, Rosella
Keywords
Information learning, Psychological expected utility, Bayesian up-dating.
Subjects
ISSN
2282-6483
DOI
Deposit date
29 Feb 2016 11:39
Last modified
29 Feb 2016 11:39
URI

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