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

Galizzi, Matteo M., Miraldo, Marisa, Stavropoulou, Charitini and van der Pol, Marjon (2016) Doctor–patient differences in risk and time preferences: a field experiment. Journal of Health Economics, 50. pp. 171-182. ISSN 0167-6296

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Identification Number: 10.1016/j.jhealeco.2016.10.001

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.

Item Type: Article
Official URL: http://www.journals.elsevier.com/journal-of-health...
Additional Information: © 2016 Elsevier B.V.
Divisions: Social Policy
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HD Industries. Land use. Labor > HD61 Risk Management
R Medicine > RA Public aspects of medicine > RA0421 Public health. Hygiene. Preventive Medicine
JEL classification: C - Mathematical and Quantitative Methods > C9 - Design of Experiments > C93 - Field Experiments
D - Microeconomics > D9 - Intertemporal Choice and Growth > D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving
I - Health, Education, and Welfare > I1 - Health > I11 - Analysis of Health Care Markets
Sets: Departments > Social Policy
Collections > Economists Online
Date Deposited: 26 Oct 2016 15:02
Last Modified: 30 Jan 2019 20:28
Funders: University of Surrey
URI: http://eprints.lse.ac.uk/id/eprint/68143

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