Scandinavian Working Papers in Economics

HERO Online Working Paper Series,
University of Oslo, Health Economics Research Programme

No 2019:1: Are patient-regarding preferences stable? Evidence from a laboratory experiment with physicians and medical students from different countries

Jian Wang (), Tor Iversen (), Heike Hennig-Schmidt () and Geir Godager ()
Additional contact information
Jian Wang: 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
Tor Iversen: 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
Heike Hennig-Schmidt: 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
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

Abstract: We quantify patient-regarding preferences by fitting a bounded rationality model to data from incentivized 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.

Keywords: Laboratory experiment; Bounded rationality; Payment mechanism; Physician behavior

JEL-codes: C92; D82; H40; I11; J33

40 pages, April 17, 2019

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