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.
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 |
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Pages (from-to) | 171-182 |
Number of pages | 12 |
Journal | Journal of Health Economics |
Volume | 50 |
Early online date | 19 Oct 2016 |
DOIs | |
Publication status | Published - Dec 2016 |
Keywords
- field experiments
- risk aversion
- impatience
- doctor-patient relationship