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Related Concept Videos

Decision Making: P-value Method01:09

Decision Making: P-value Method

The process of hypothesis testing based on the P-value method includes calculating the P- value using the sample data and interpreting it.
First, a specific claim about the population parameter is proposed. The claim is based on the research question and is stated in a simple form. Further, an opposing statement to the claim  is also stated. These statements can act as null and alternative hypotheses:  a null hypothesis would be a neutral statement while the alternative hypothesis can have a...
Professional Values01:29

Professional Values

Nurses are responsible for caring for patients during birth, death, illness, and healing. Professional values guide the decisions and actions that nurses make in their careers. If nurses know the decisions and actions to take, providing patients with exceptional care is possible.
The values that are the foundation of the nursing profession are altruism, autonomy, human dignity, and social justice.
First, altruism refers to the concern for the welfare and well-being of others without personal...
Self-Evaluation: Self-Enhancement and Self-Verification03:00

Self-Evaluation: Self-Enhancement and Self-Verification

Social psychologists have documented that feeling good about ourselves and maintaining positive self-esteem is a powerful motivator of human behavior (Tavris & Aronson, 2008). In the United States, members of the predominant culture typically think very highly of themselves and view themselves as good people who are above average on many desirable traits (Ehrlinger, Gilovich, & Ross, 2005). Often, our behavior, attitudes, and beliefs are affected when we experience a threat to our...
The Sense of Self: Reflected Self-Appraisal and Social Comparison02:57

The Sense of Self: Reflected Self-Appraisal and Social Comparison

According to Charles Cooley, we base our image on what we think other people see (Cooley 1902). We imagine how we must appear to others, then react to this speculation. We don certain clothes, prepare our hair in a particular manner, wear makeup, use cologne, and the like—all with the notion that our presentation of ourselves is going to affect how others perceive us. We expect a certain reaction, and, if lucky, we get the one we desire and feel good about it. But more than that, Cooley...
Social Exchange Theory01:26

Social Exchange Theory

As formulated by John Thibaut and Harold Kelley, Social Exchange Theory explains human relationships as economic-like exchanges that maximize rewards and minimize costs. This theory suggests that individuals engage in relationships to gain benefits and reduce burdens, similar to economic transactions. It has been widely applied to various types of relationships, including romantic, professional, and social interactions.Rewards and Costs in RelationshipsRelationship rewards include emotional...
Social Exchange Theory02:06

Social Exchange Theory

We have discussed why we form relationships, what attracts us to others, and different types of love. But what determines whether we are satisfied with and stay in a relationship? One theory that provides an explanation is social exchange theory. According to social exchange theory, we act as naïve economists in keeping a tally of the ratio of costs and benefits of forming and maintaining a relationship with others (Rusbult & Van Lange, 2003).

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Related Experiment Video

Updated: May 12, 2026

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
13:04

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods

Published on: September 19, 2012

Towards an expanded definition of value.

Matthew J Smith1, Christopher J Standaert

  • 1East Greenwich Spine & Sport, 1351 South County Trail, Suite 100, East Greenwich, RI 02818, USA.

The Spine Journal : Official Journal of the North American Spine Society
|April 16, 2013
PubMed
Summary

Understanding health-care value is crucial for reform. Physicians use quality-adjusted life years, but diverse stakeholder definitions impact evolving healthcare systems and spine providers.

Keywords:
Accountable care organizationBack painHealth care reformPatient centered medical homeValue

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Last Updated: May 12, 2026

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
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Published on: September 19, 2012

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Published on: March 19, 2014

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Area of Science:

  • Health Economics
  • Healthcare Policy
  • Value-Based Care

Background:

  • The US healthcare system is undergoing significant reforms focused on enhancing value.
  • Value in healthcare is often simplified as quality divided by cost.
  • Physicians frequently utilize the quality-adjusted life year (QALY) metric.

Purpose of the Study:

  • To explore the multifaceted definitions of value in healthcare.
  • To understand how various stakeholders define healthcare value.
  • To assist spine providers in navigating the changing healthcare landscape.

Main Methods:

  • Analysis of healthcare economic and policy literature.
  • Review of stakeholder perspectives on healthcare value.
  • Examination of incentive programs and pilot studies by payers.

Main Results:

  • Multiple definitions of value exist beyond the quality/cost ratio.
  • Stakeholder definitions of value vary significantly.
  • Current healthcare changes are driven by payer initiatives.

Conclusions:

  • A comprehensive understanding of value definitions is essential for healthcare reform.
  • Spine providers need to be aware of diverse value metrics.
  • Navigating the evolving healthcare system requires knowledge of economic and policy definitions of value.