Merit of test: perspective of information economics

Galeotti, A, Steiner, J and Surico, P (2020) Merit of test: perspective of information economics. Health Policy and Technology, 9 (4). pp. 575-577. ISSN 2211-8837 OPEN ACCESS

Abstract

This article assesses the merit of a test through the lenses of economics, with applications to SARS-CoV-2. This allows us to rank distinct tests and to show that this ranking is not universal; it depends on the pre-test information available to the decision-maker and the losses stemming from incorrect actions. We provide a method to select, from multiple tests with different sensitivity and specificity, the test that helps the decision-maker the most to achieve her objective.

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Item Type: Article
Subject Areas: Economics
Additional Information:

© 2020 Published by Elsevier Ltd on behalf of Fellowship of Postgraduate Medicine.
This manuscript is made available under the Creative Commons CC BY-NC-ND 4.0 licence https://creativecommons.org/licenses/by-nc-nd/4.0/

Date Deposited: 14 Sep 2020 08:22
Date of first compliant deposit: 09 Sep 2020
Subjects: T > Testing
M > Medical sciences
Last Modified: 04 Sep 2021 06:07
URI: https://lbsresearch.london.edu/id/eprint/1472
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