A reformulation of health economics is proposed that explicitly involves institutions. Decisions regarding health are taken under uncertainty, in the face of which institutions work and allow dealing with it. Taking institutions seriously allows moving forward from the economics of medical care...

There has been growing interest in the application of institutionalist perspectives in the health economics literature. This paper investigates the institutionalist notion of social value and its use in economic evaluation with particular reference to programs to address HIV/AIDS and gender...