Prospect Theory
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The Patient’s Dilemma: An approach in Medical Decision Making using the Prisoner’s Dilemma Model and the Prospect Theory
Abstract: Prospect theory suggests that when people are faced with uncertain outcome, they may be risk seeking or aversive, depending on the utility value. While Prisoner’s dilemma shows that suboptimal choices are made if people seek their own gain only. Patients’ demand in decision making during the recent years evolved this dilemma. Through a mathematical approach and survey, the doctor-patient involvement in decision making has been explored. A hypothetical model was …
Published in Research and Reviews: A Journal of Medicine · Vol. 8, Issue 3, 2018 · pp. 54–63 Read article