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

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

Journal of Health Economics, 2016, vol. 50, issue C, 171-182

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 experiments; Risk aversion; Impatience; Doctor–patient relationship; Structural estimation (search for similar items in EconPapers)
JEL-codes: C93 D03 D91 I1 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (14)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jhecon:v:50:y:2016:i:c:p:171-182

DOI: 10.1016/j.jhealeco.2016.10.001

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