title: Doctor-patient differences in risk and time preferences: A field experiment.
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.
authors: Department of Social Policy, Behavioural Research Lab, LSE Health, London School of Economics, Old 2.35 Old Building, Houghton Street, London WC2A 2AE, UK; École d'Économie de Paris, Hospinnomics, Paris School of Economics, Hôtel-Dieu, 1, Parvis de Notre-Dame, Bâtiment B1, 5° étage, 75004 Paris, France. Electronic address: m.m.galizzi@lse.ac.uk.
authors: Matteo M
authors: MM
authors: Galizzi
authors: École d'Économie de Paris, Hospinnomics, Paris School of Economics, Hôtel-Dieu, 1, Parvis de Notre-Dame, Bâtiment B1, 5° étage, 75004 Paris, France; Management Group, Imperial College Business School, South Kensington Campus, London SW7 2AZ, UK. Electronic address: m.miraldo@imperial.ac.uk.
authors: Marisa
authors: M
authors: Miraldo
authors: School of Health Sciences, City, University of London, Northampton Square, London EC1V 0HB, UK. Electronic address: c.stavropoulou@city.ac.uk.
authors: Charitini
authors: C
authors: Stavropoulou
authors: Health Economics Research Unit, University of Aberdeen, Polwarth Building, Foresterhill, Aberdeen AB25 2ZD, UK. Electronic address: m.vanderpol@abdn.ac.uk.
authors: Marjon
authors: M
authors: van der Pol
mesh_terms: D000328:Adult; D005260:Female; D006801:Humans; D008297:Male; D057240:Patient Preference; D010817:Physician-Patient Relations; D010820:Physicians; D012306:Risk
keywords: Doctor–patient relationship; Field experiments; Impatience; Risk aversion; Structural estimation