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The Long-Run Effects of Psychotherapy on Depression, Beliefs, and Economic Outcomes

Author

Listed:
  • de Quidt, Jonathan
  • Bhat, Bhargav
  • Haushofer, Johannes
  • Patel, Vikram
  • Rao, Gautam
  • Schilbach, Frank
  • Vautrey, Pierre-Luc

Abstract

We revisit two clinical trials that randomized depressed adults in India (n=775) to a brief course of psychotherapy or a control condition. Four to five years later, the treatment group was 11 percentage points less likely to be depressed than the control group. The more effective intervention averted 9 months of depression on average over five years and cost only $66 per recipient. Therapy changed people’s beliefs about themselves in three ways. First, it reduced their likelihood of seeing themselves as a failure or feeling bad about themselves. Second, when faced with a novel work opportunity, therapy reduced over-optimistic belief updating in response to feedback and thus reduced overconfidence. Third, it increased self-assessed levels of patience and altruism. Therapy did not increase levels of employment or consumption, possibly because of other constraints on employment in the largely female study sample.

Suggested Citation

  • de Quidt, Jonathan & Bhat, Bhargav & Haushofer, Johannes & Patel, Vikram & Rao, Gautam & Schilbach, Frank & Vautrey, Pierre-Luc, 2022. "The Long-Run Effects of Psychotherapy on Depression, Beliefs, and Economic Outcomes," CEPR Discussion Papers 17309, C.E.P.R. Discussion Papers.
  • Handle: RePEc:cpr:ceprdp:17309
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    Keywords

    Mental health; Therapy; beliefs; Preferences;
    All these keywords.

    JEL classification:

    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • I15 - Health, Education, and Welfare - - Health - - - Health and Economic Development
    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development

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