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

Matteo Galizzi, Marisa Miraldo, Charitini Stavropoulou and Marjon van der Pol

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

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.

Keywords: field experiment; risk aversion; impatience; doctor-patient relationship; structural estimation (search for similar items in EconPapers)
JEL-codes: C93 D91 I11 (search for similar items in EconPapers)
Date: 2016-12-01
New Economics Papers: this item is included in nep-cbe, nep-exp and nep-hea
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (14)

Published in Journal of Health Economics, 1, December, 2016, 50, pp. 171-182. ISSN: 0167-6296

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Related works:
Journal Article: Doctor–patient differences in risk and time preferences: A field experiment (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:68143

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