Description
Provide an in depth research paper on the utility theory and apply it to real world situations. Paper must contain a motivated thesis or main argument. Provide a clear and concise interpretation of a question or puzzle that makes your thesis interesting and important.
Conduct own research utilizing medical texts, books, articles, scholarly publications, or any other reference that will assist in the composition of an extensive paper. As always, cite sources properly and do NOT plagiarize.
Conduct your own analysis of the found information. (Refrain from just a simple, long, descriptive presentation of information without any analysis or argument.)
Paper must contain at least five (5) reference sources and be structured as shown below.
Title Page
Abstract - Provide a few paragraphs which depict the data covered within your paper.
Table of Contents
Body
Should include an introduction; similar to the abstract, except you are to provide the reader with teasers. Draw your audience in.
Research Question - Inform the reader of the purpose and scope of your research.
Review of publications - Recount what you learned from the readings within your research.
Methodology - Informs the reader on how your research was conducted providing an aid for them should they want to conduct the same research or extend yours further.
Results - Explain the results of your research.
Conclusions - Recount what you learned after conducting your research. Use this information to assist you in creating recommendations for areas where your research can be realistically applied or extended.
Paper should be in APA format to include citations. Spelling, grammar, and punctuation are of the utmost importance. Remember, this should be considered business or scholarly writing and should written as though you are providing a report to your employer on the topic.
Explanation & Answer
Please find the completed work,You can get back to me in case of any concerns,Thank you.
Running head: UTILITY THEORY APPLICATION
Utility Theory Application
Student’s name
Institution
Date
1
UTILITY THEORY APPLICATION
Contents
Abstract ........................................................................................................................................... 3
Research Questions ......................................................................................................................... 3
Review of Relevant Literature ........................................................................................................ 4
Methodology ................................................................................................................................... 5
Result .............................................................................................................................................. 6
Utility theory application in resource management and allocation ............................................. 6
Utility among different stakeholders ........................................................................................... 7
Ethical considerations in utility theory application ..................................................................... 8
Conclusion ...................................................................................................................................... 9
References ..................................................................................................................................... 11
2
UTILITY THEORY APPLICATION
Abstract
Human life is like a puzzle that requires critical analysis before making a decision.
Likewise, in medicine and healthcare, every individual is posed with a question on how to
choose what to consume attend to or even undertake with the limited resources. Unlike in the
other business world where the outcome of a decision can be met with decisiveness, choices in
the medical world are met with unpredictability making the process of choice based on utility
more complexes. The unpredictability nature of the outcome leads the decision makers and
consumers into a more complex situation of decision making. The satisfaction that one will get
from a choice determines its utility. In healthcare, this application may be relative as the
determining person change from the healthcare provider, the patient, or the third party. Even
though we may be talking of the same treatment to the same patient, the person to determine may
satisfaction change. Economic evolutions continue to be the backbone of the decision making the
process in healthcare leading to the rise of many questions on the proper application of this
theory in this field. Data generated from this research shows a mixed perception and application
of the utility theory in the medical field due to the complex nature of the healthcare system.
Leaders at different levels of management continue to apply the theory of utility in decision
making about the allocation of resources, services to be offered, and products needed in their
facilities. The theory is applied with consideration of the ethical issues that arise due to the
professionalism and guidelines on healthcare services and products to fulfill their purpose...
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