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Updated: Aug 17, 2026

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
Published on: September 19, 2012
Assessing potential risks and evaluating expected benefits
1Pharmaceutical Health Services Research, University of Maryland School of Pharmacy, School of Medicine, Epidemiology and Preventive Medicine, Baltimore 21201, USA. fshaya@rx.umaryland.edu
Abstract:
The recent withdrawal of rofecoxib from the market will have profound and long-term effects on the methods by which society views, assesses, and monitors risk. As is the case with many drugs, the rofecoxib experience was complex from both the scientific and regulatory standpoints. A drug is marketed in the United States only if its expected benefits outweigh its risks; a recent trend has also included several cost-effectiveness considerations in launch decisions, possibly spurring further debates on ethical implications. However, a great portion of the evidence about actual outcomes of therapies is revealed in the postmarketing phase of development. It is unclear how this understanding of treatment benefit and harm should actually relate to a specific clinical decision.
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