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Are patient-regarding preferences stable? Evidence from a laboratory experiment with physicians and medical students from different countries

Jian Wang, Tor Iversen (), Heike Hennig-Schmidt and Geir Godager ()

European Economic Review, 2020, vol. 125, issue C

Abstract: We quantify patient-regarding preferences by fitting a bounded rationality model to data from an incentivized laboratory experiment, where Chinese medical doctors, German medical students and Chinese medical students decide under different payment schemes. We find a remarkable stability in patient-regarding preferences when comparing subject pools and we cannot reject the hypothesis of equal patient-regarding preferences in the three groups. The results suggest that a health economic experiment can provide knowledge that reach beyond the student subject pool, and that the preferences of decision-makers in one cultural context can be of relevance in a very different cultural context.

Keywords: Laboratory experiment; Bounded rationality; Payment mechanism; Physician behavior (search for similar items in EconPapers)
JEL-codes: C92 D82 I11 H40 J33 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:eee:eecrev:v:125:y:2020:i:c:s001429212030043x

DOI: 10.1016/j.euroecorev.2020.103411

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European Economic Review is currently edited by T.S. Eicher, A. Imrohoroglu, E. Leeper, J. Oechssler and M. Pesendorfer

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