Accepted for/Published in: Journal of Medical Internet Research
Date Submitted: Aug 6, 2021
Date Accepted: Dec 26, 2021
Understanding Decision Making in the Adoption of Digital Health Technology: The Role of Behavioural Economics’ Prospect Theory
ABSTRACT
The decision to accept or reject new digital health technologies remains an ongoing discussion. Over the past few decades, interest in understanding the choice to adopt technology has led to the development of numerous theories and models. In 1979, however, psychologists Kahneman and Tversky published their seminal research article that has pioneered the field of behavioural economics. They named their model the “prospect theory” and used it to explain decision making behaviours under conditions of risk and uncertainty as well as to provide an understanding of why individuals may make irrational or inconsistent decisions. Although the prospect theory has been used to explain decision making in economics, law, political science, and clinically at the individual level, its application to understanding choice in the adoption of digital health technology has not been explored. Herein, we discuss how the prospect theory can provide valuable insight on why healthcare patients/clients, technology companies, and policymakers may decide to accept or reject digital health technologies.
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