Health Economics

  • (written as Monotonicity)
    The general property of a sequence of numbers that each successive number is greater than or equal to its predecessor (increasing monotonicity) or smaller than or equal (decreasing monotonicity). The ordering is 'strong' if ties are not allowed. In economics, this property of choices generally means that if x is preferred to y, then the utility of x > utility of y. In health economics, a special usage is that if the health of one person increases then the level of the community's health (or welfare) also increases (ceteris paribus).