Risk attitudes in medical decisions for others: an experimental approach
Fecha
2017Versión
Acceso abierto / Sarbide irekia
Tipo
Artículo / Artikulua
Versión
Versión aceptada / Onetsi den bertsioa
Identificador del proyecto
Impacto
|
10.1002/hec.3628
Resumen
The aim of this paper is to investigate how risk attitudes in medical decisions for others vary across health contexts. A lab experiment was designed to elicit the risk attitudes of 257 medical and nonmedical students by assigning them the role of a physician who must decide between treatments for patients. An interval regression model was used to estimate individual coefficients of relative risk ...
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The aim of this paper is to investigate how risk attitudes in medical decisions for others vary across health contexts. A lab experiment was designed to elicit the risk attitudes of 257 medical and nonmedical students by assigning them the role of a physician who must decide between treatments for patients. An interval regression model was used to estimate individual coefficients of relative risk aversion, and an estimation model was used to test for the effect of type of medical decision and experimental design characteristics on elicited risk aversion. We find that (a) risk attitudes vary across different health contexts, but risk aversion prevails in all of them; (b) students enrolled in health‐related degrees show a higher degree of risk aversion; and (c) real rewards for third parties (patients) make subjects less risk‐averse. The results underline the importance of accounting for attitudes towards risk in medical decision making. [--]
Materias
Health contexts,
Laboratory experiment,
Medical decisions for others,
Multiple price list format,
Risk aversion
Editor
Wiley
Publicado en
Health Economics, 2017, 26(S3), 97-113
Departamento
Universidad Pública de Navarra. Departamento de Economía /
Nafarroako Unibertsitate Publikoa. Ekonomia Saila
Versión del editor
Entidades Financiadoras
Ministerio de Ciencia y Tecnología and FEDER, Grant numbers: ECO2012‐3648, ECO2013‐43526‐R, ECO2015‐65031‐R and ECO2015‐65408‐R; Junta de Andalucía, Grant number: SEJ‐04992