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Risk Preference and Laboratory Use

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  • Stephen D. Nightingale

Abstract

One hundred thirty-seven physicians were asked to choose between a certain loss of five years of life expectancy and a 50/50 gamble of losing either ten years or zero years of life expectancy. These choices were presented as hypothetical options for a patient with cancer. The 46 who chose the certain loss ordered 23% fewer laboratory tests/patient visit in our General Medicine Clinic over an eight-week period than those who chose the gamble (p

Suggested Citation

  • Stephen D. Nightingale, 1987. "Risk Preference and Laboratory Use," Medical Decision Making, , vol. 7(3), pages 168-172, August.
    • Handle: RePEc:sae:medema:v:7:y:1987:i:3:p:168-172
    DOI: 10.1177/0272989X8700700307
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    References listed on IDEAS

    as
    1. Slovic, Paul & Lichtenstein, Sarah, 1983. "Preference Reversals: A Broader Perspective," American Economic Review, American Economic Association, vol. 73(4), pages 596-605, September.
    2. Stephen A. Eraker & Harold C. Sox, 1981. "Assessment of Patients' Preferences for Therapeutic Outcomes," Medical Decision Making, , vol. 1(1), pages 29-39, February.
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    1. Paul S. Heckerling & Thomas G. Tape & Robert S. Wigton, 1992. "Relation of Physicians' Predicted Probabilities of Pneumonia to Their Utilities for Ordering Chest X-rays to Detect Pneumonia," Medical Decision Making, , vol. 12(1), pages 32-38, February.
    2. David R. Holtgrave & Frank Lawler & Stephen J. Spann, 1991. "Physicians' Risk Attitudes, Laboratory Usage, and Referral Decisions," Medical Decision Making, , vol. 11(2), pages 125-130, June.
    3. N/A, 1987. "Editorials," Medical Decision Making, , vol. 7(3), pages 136-137, August.
    4. Kuhberger, Anton, 1998. "The Influence of Framing on Risky Decisions: A Meta-analysis," Organizational Behavior and Human Decision Processes, Elsevier, vol. 75(1), pages 23-55, July.
    5. Kuhberger, Anton & Schulte-Mecklenbeck, Michael & Perner, Josef, 1999. "The Effects of Framing, Reflection, Probability, and Payoff on Risk Preference in Choice Tasks, ," Organizational Behavior and Human Decision Processes, Elsevier, vol. 78(3), pages 204-231, June.

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