Are patient-regarding preferences stable?
HERO WP 2020/2: Jian Wang, Tor Iversen, Heike Hennig-Schmidt, Geir Godager
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.
JEL-Classification: C92, D82, I11, H40, J33
Keywords: Laboratory experiment, Bounded rationality, Payment mechanism, Physician behavior