AN EMPIRICAL MODEL OF LEARNING UNDER AMBIGUITY: THE CASE OF CLINICAL TRIALS* AN EMPIRICAL MODEL OF LEARNING UNDER AMBIGUITY: THE CASE OF CLINICAL TRIALS.
This article presents a two-dimensional structural model of learning under ambiguity in the context of clinical trials. Clinical trials offer an ideal environment to study learning under ambiguity. The randomization process found in these studies leaves patients uncertain to their actual group assig...
| Published in: | International Economic Review Vol. 54; no. 2; pp. 549 - 574 |
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| Format: | Article |
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Wiley-Blackwell
May2013
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| Online Access: | View this record in EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=87017703&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 87017703 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00206598 IER jtl: International Economic Review issn: 00206598 maglogo: Y pubinfo: dt: May2013 vid: 54 iid: 2 pid: 480 pub: Wiley-Blackwell artinfo: ui: 87017703 10.1111/iere.12006 ppf: 549 ppct: 25 formats: tig: atl: AN EMPIRICAL MODEL OF LEARNING UNDER AMBIGUITY: THE CASE OF CLINICAL TRIALS* AN EMPIRICAL MODEL OF LEARNING UNDER AMBIGUITY: THE CASE OF CLINICAL TRIALS. aug: au: Fernandez, Jose M. affil: University of Louisville, U.S.A. su: Empirical research Economic models Clinical trials Drug side effects Structural frame models Treatment effectiveness sug: subj: Empirical research Economic models Clinical trials Drug side effects Research and Development in the Physical, Engineering, and Life Sciences (except Biotechnology) Structural frame models Treatment effectiveness ab: This article presents a two-dimensional structural model of learning under ambiguity in the context of clinical trials. Clinical trials offer an ideal environment to study learning under ambiguity. The randomization process found in these studies leaves patients uncertain to their actual group assignment. Therefore, patients cannot immediately attribute changes in health to the experimental drug. The article proposes the use of 'learning instrumental variables' to simultaneously update patients' beliefs of the treatment effect and group assignment. Patient learning is found to be faster when observable side effects are incorporated to account for the uncertainty in group assignment. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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