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The increasing resistance of bacteria to antibiotics, and pests to pesticides, threatens to undo some of the most remarkable advances made in public health and agriculture during the 20th century. Though the potential consequences of increased antibiotic and pesticide resistance are far reaching, regulatory efforts to address the problem are at a very early stage. This book aims to move discussions forward by presenting cutting edge research and a comprehensive application of economic tools to analyze how antibiotics and pesticides should be used to maximize their value to society.

Extending the Cure provides an objective evaluation of a number of policies to encourage patients, health care providers, and managed care organizations to make better use of existing antibiotics and to give pharmaceutical firms greater incentives to both develop new antibiotics and care about resistance to existing drugs.

The book examines applications in two disparate fields linked by the importance of valuing information: public health and space. Researchers in the health field have developed some of the most innovative methodologies for valuing information, used to help determine, for example, the value of diagnostics in informing patient treatment decisions. In the field of space, recent applications of value-of-information methods are critical for informing decisions on investment in satellites that collect data about air quality, fresh water supplies, climate and other natural and environmental resources...

Growing interest in the value of information as a commodity has spawned this survey of current techniques for assessing the value of data in a multitude of contexts. In-depth case studies support analyses of approaches including econometric modeling.

Our ability to treat common bacterial infections with antibiotics goes back only 65 years. However, the authors of this report make it clear that sustaining a supply of effective and affordable antibiotics cannot be without changes to the incentives facing patients, physicians, hospitals, insurers, and pharmaceutical manufacturers. In fact, increasing resistance to these drugs is already exacting a terrible price. Every day in the United States, approximately 172 men, women, and children die from infections caused by antibiotic-resistant bacteria in hospitals alone. Beyond those deaths,...