Principal-Agent Relationship in Medical Care: Eliciting Patients’ Preferences in Patient-Doctor Relationship

Yen Siew Hwa

Jurnal Ekonomi Malaysia, 2005, vol. 39, 71-88

Abstract: As implicated in principal-agent theory, responding to patients’ needs and preferences should be the fundamental objective and be taken into consideration in designing of a health care financing system. This study attemps to characterize the patient’s preferences for information, this the utility function, during clinical consultation. An empirical study was carried out the context of a Malaysian health care setting involving 108 and 50 diabetic patients from a public and a private hospital respectively. Result from the analysis showed that diabetic pantients from both the hospitals gave priority to the quality rather than the quantity of information transferred. Socio-economic characteristics of the patient were introduced into the model in the form of interaction terms explained how preferences varied across patients.

Date: 2005
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