Informational Frictions and Practice Variation: Evidence from Physicians in Training

David C. Chan, Jr

No 21855, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Substantial practice variation across physicians for seemingly similar patients remains an unresolved puzzle. This paper studies physicians in training to explore the behavioral foundations of practice variation. A discontinuity in the formation of teams reveals a large contribution of relative experience in the size of practice variation. Among the same physician trainees, convergence towards a common practice differs by practice environment, with more convergence in specialist-driven services. Rich trainee characteristics and training histories, including the practice styles of prior supervising physicians, explain little if any variation. These findings suggest a major role for informational frictions in the origins of practice variation.

JEL-codes: D20 D83 I10 L23 L84 M11 M53 M54 (search for similar items in EconPapers)
Date: 2016-01
New Economics Papers: this item is included in nep-hea
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