Abstract
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 language | English |
|---|---|
| Pages (from-to) | 171-182 |
| Number of pages | 12 |
| Journal | Health Economics |
| Volume | 50 |
| Early online date | 19 Oct 2016 |
| DOIs | |
| Publication status | Published - Dec 2016 |
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Keywords
- field experiments
- risk aversion
- impatience
- doctor-patient relationship
Cite this
Doctor-patient differences in risk and time preferences : a field experiment. / Galizzi, Matteo M ; Miraldo, Marisa ; Stavropoulou, Charitini; Van Der Pol, Marjon.
In: Health Economics, Vol. 50, 12.2016, p. 171-182.Research output: Contribution to journal › Article
}
TY - JOUR
T1 - Doctor-patient differences in risk and time preferences
T2 - a field experiment
AU - Galizzi, Matteo M
AU - Miraldo, Marisa
AU - Stavropoulou, Charitini
AU - Van Der Pol, Marjon
N1 - Financial support for this study was provided entirely by a Pump-priming grant from the Faculty of Business, Economics and Law at the University of Surrey. We gratefully acknowledge this funding from the University of Surrey. The funding agreement ensured the authors' independence in designing the study, interpreting the data, writing, and publishing the report. We thank Nigel Rice, three anonymous referees, and all participants of the Health Economics Research Unit seminar in Aberdeen (October 2013); the Health Economics Study Group workshop in Warwick (June 2013); and the Health Economics Research Centre seminar in Oxford (July 2013) for useful comments and suggestions. We are grateful to Aikaterini Anestaki, Omiros Stavropoulos and Theodoros Thomaidis for assistance with the data collection.
PY - 2016/12
Y1 - 2016/12
N2 - 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 discountfuture outcomes less heavily than patients. We find no evidence that doctors and patients systematically differ in their risk preferences in the healthcare domain.
AB - 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 discountfuture outcomes less heavily than patients. We find no evidence that doctors and patients systematically differ in their risk preferences in the healthcare domain.
KW - field experiments
KW - risk aversion
KW - impatience
KW - doctor-patient relationship
U2 - 10.1016/j.jhealeco.2016.10.001
DO - 10.1016/j.jhealeco.2016.10.001
M3 - Article
VL - 50
SP - 171
EP - 182
JO - Health Economics
JF - Health Economics
SN - 1057-9230
ER -