Are patient-regarding preferences stable?
HERO WP 2019/1: Jian Wang, Tor Iversen, Heike Hennig-Schmidt, Geir Godager
We quantifypatient-regardingpreferences byﬁttinga bounded rationality modeltodatafromincentivized laboratory experiments, where Chinese medical doctors, German medical students and Chinese medical students participate. 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 health economic experiments can provide knowledge that reach beyond the student subject pool, and that knowledge on preferences of decision-makers in one cultural context can be of relevance for very diﬀerent cultural contexts.
JEL-Classification: C92, D82, I11, H40, J33
Keywords: Laboratory experiment, Bounded rationality, Payment mechanism, Physician behavior