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

Matteo M Galizzi, Marisa Miraldo, Charitini Stavropoulou, Marjon Van Der Pol

Research output: Contribution to journalArticle

8 Citations (Scopus)
9 Downloads (Pure)

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.
Original languageEnglish
Pages (from-to)171-182
Number of pages12
JournalHealth Economics
Volume50
Early online date19 Oct 2016
DOIs
Publication statusPublished - Dec 2016

Keywords

  • field experiments
  • risk aversion
  • impatience
  • doctor-patient relationship

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