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Decisions about further investigations and treatment in medicine, including psychiatry, should be based on the best available evidence regarding both clinical usefulness and cost-effectiveness. However, sometimes clinicians and researchers interpret… Click to show full abstract
Decisions about further investigations and treatment in medicine, including psychiatry, should be based on the best available evidence regarding both clinical usefulness and cost-effectiveness. However, sometimes clinicians and researchers interpret evidence differently, as the example of neuroimaging in firstepisode psychosis illustrates. It is important to explore why individuals draw different conclusions from identical facts. In this paper, we will argue that the ‘endowment effect’ could be a potential explanation. Taking something away seems to be worse than not getting it at all. NICE and other organisations making decisions about rationing healthcare could consider taking this into account.
Journal Title: Journal of the Royal Society of Medicine
Year Published: 2020
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