Doctor-patient differences in risk and time preferences: a field experiment
File(s)D-P RP TP JHE RR2 4 October 2016.docx (207.79 KB)
Accepted version
Author(s)
Galizzi, M
Miraldo, M
Stravopoulou, C
Van der Pol, M
Type
Journal Article
Abstract
We conduct a framed field experiment among patients and doctors to test whether the two groups have similar risk and time preferences. We elicit risk and time preferences using multiple price list tests and their adaptations to the healthcare context. Risk and time preferences are compared in terms of switching points in the tests and the structurally estimated behavioural parameters. We find that doctors and patients significantly differ in their time preferences: doctors discount future outcomes less heavily than patients. We find no evidence that doctors and patients systematically differ in their risk preferences in the healthcare domain.
Date Issued
2016-12
Date Acceptance
2016-10-07
Citation
Journal of Health Economics, 2016, 50, pp.171-182
ISSN
0167-6296
Publisher
Elsevier
Start Page
171
End Page
182
Journal / Book Title
Journal of Health Economics
Volume
50
Copyright Statement
© 2016 Elsevier. Licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International http://creativecommons.org/licenses/by-nc-nd/4.0/
Subjects
Social Sciences
Science & Technology
Life Sciences & Biomedicine
Economics
Health Care Sciences & Services
Health Policy & Services
Business & Economics
Field experiments
Risk aversion
Impatience
Doctor-patient relationship
Structural estimation
RANDOMIZED CONTROLLED-TRIAL
DECISION-MAKING
INTERTEMPORAL CHOICE
LABORATORY EXPERIMENTS
HEALTH BEHAVIORS
ELICITING RISK
DISCOUNT RATES
FUTURE
ATTITUDES
AVERSION
Doctor–patient relationship
Field experiments
Impatience
Risk aversion
Structural estimation
Adult
Female
Humans
Male
Patient Preference
Physician-Patient Relations
Physicians
Risk
Humans
Risk
Physician-Patient Relations
Adult
Physicians
Female
Male
Patient Preference
Health Policy & Services
1117 Public Health and Health Services
1402 Applied Economics
1403 Econometrics
Publication Status
Published
Date Publish Online
2016-10-19