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Doctor-patient differences in risk and time preferences: a field experiment

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Title: Doctor-patient differences in risk and time preferences: a field experiment
Author(s): Miraldo, M
Galizzi, M
Stravopoulou, C
Van der Pol, M
Item 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.
Publication Date: 19-Oct-2016
Date of Acceptance: 7-Oct-2016
URI: http://hdl.handle.net/10044/1/42070
DOI: http://dx.doi.org/10.1016/j.jhealeco.2016.10.001
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/
Keywords: Doctor–patient relationship
Field experiments
Impatience
Risk aversion
Structural estimation
Health Policy & Services
1402 Applied Economics
1117 Public Health And Health Services
Publication Status: Published
Appears in Collections:Imperial College Business School



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