Misperceived Effectiveness and the Demand for Psychotherapy

Christopher Roth, Peter Schwardmann and Egon Tripodi
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Peter Schwardmann: Carnegie Mellon University

No 500, Rationality and Competition Discussion Paper Series from CRC TRR 190 Rationality and Competition

Abstract: While psychotherapy has been shown to be effective in treating depression, take-up remains low. In a sample of 1,843 depressed individuals, we document that effectiveness concerns are top-of-mind when respondents consider the value of therapy. We then show that the average respondent underestimates the effectiveness of therapy and that an information treatment correcting this misperception increases participants’ incentivized willingness to pay for therapy. Information affects therapy demand by changing beliefs rather than by shifting attention. Our results suggest that information interventions that target the perceived effectiveness of therapy are a potent tool in combating the ongoing mental health crisis.

Keywords: mental health; depression; psychotherapy; beliefs; effectiveness; information policy (search for similar items in EconPapers)
Date: 2024-03-24
New Economics Papers: this item is included in nep-dcm, nep-exp and nep-hea
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Citations: View citations in EconPapers (4)

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Related works:
Working Paper: Misperceived Effectiveness and the Demand for Psychotherapy (2024)
Working Paper: Misperceived Effectiveness and the Demand for Psychotherapy (2024)
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