This article surveys the literature on risk aversion in medical decision making. The search covered Econlit, Jstor Science Direct and Springer Link since 1985. The results are classified in three topics: Risk aversion in the frameworks of Expected Utility and Rank Dependent Expected Utility...

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...