() and Daniel Wiesen
Geir Godager: Department of Health Management and Health Economics, Postal: HERO / Department of Health Management and Health Economics P.O. Box 1089 Blindern, NO-0317 Oslo, Norway
Daniel Wiesen: BonnEconLab, Laboratory for Experimental Economics, University of Bonn and Chair of Quantitative
Abstract: This paper investigates physician altruism toward patients’ health benefit using behavioral data from the fully incentivized laboratory experiment of Hennig-Schmidt et al. (2011). This setup identifies both physicians’ profits and patients’ health benefit resulting from medical treatment decisions. We estimate a random utility model applying multinomial logit regression, finding that physicians attach a positive weight on patients’ health benefit. Furthermore, physicians vary substantially in their degree of altruism. Finally, we provide some implications for the design of physician payment schemes.
18 pages, December 28, 2011
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