By employing a large sample of both laboratory and field data, we investigate whether attitudes towards risk significantly vary between physicians, medical students and non-medical students. Also, we look for differences in risk propensity between laboratory and artefactual field experimental sessions and control for individuals’ characteristics that may affect risk attitude. Results show significant variation in risk attitude, regardless of the estimation technique employed (linear regression, interval regression and maximum likelihood estimation), suggesting constant relative risk aversion (CRRA) as a supported representation of risk preferences. Finally, data consistently show that physicians are more risk-seeking in the monetary domain than other subject groups.

An assessment of physicians’ risk attitudes using laboratory and field data

Finocchiaro Castro, Massimo;Guccio, Calogero
;
Romeo, Domenica
2022-01-01

Abstract

By employing a large sample of both laboratory and field data, we investigate whether attitudes towards risk significantly vary between physicians, medical students and non-medical students. Also, we look for differences in risk propensity between laboratory and artefactual field experimental sessions and control for individuals’ characteristics that may affect risk attitude. Results show significant variation in risk attitude, regardless of the estimation technique employed (linear regression, interval regression and maximum likelihood estimation), suggesting constant relative risk aversion (CRRA) as a supported representation of risk preferences. Finally, data consistently show that physicians are more risk-seeking in the monetary domain than other subject groups.
2022
Risk aversion; Field experiments; Laboratory experiment; Physicians’ behaviour.
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/20.500.11769/637029
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