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Behavioral Economics and Health Economics

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  • Richard G. Frank

Abstract

The health sector is filled with institutions and decision-making circumstances that create friction in markets and cognitive errors by decision makers. This paper examines the potential contributions to health economics of the ideas of behavioral economics. The discussion presented here focuses on the economics of doctor-patient interactions and some aspects of quality of care. It also touches on issues related to insurance and the demand for health care. The paper argues that long standing research impasses may be aided by applying concepts from behavioral economics.

Suggested Citation

  • Richard G. Frank, 2004. "Behavioral Economics and Health Economics," NBER Working Papers 10881, National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberwo:10881
    Note: HE
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    File URL: http://www.nber.org/papers/w10881.pdf
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Hensher, Martin & Tisdell, John & Zimitat, Craig, 2017. "“Too much medicine”: Insights and explanations from economic theory and research," Social Science & Medicine, Elsevier, vol. 176(C), pages 77-84.
    2. Tibor Besedeš & Cary Deck & Sudipta Sarangi & Mikhael Shor, 2012. "Age Effects and Heuristics in Decision Making," The Review of Economics and Statistics, MIT Press, vol. 94(2), pages 580-595, May.
    3. Javitt, Jonathan C. & Rebitzer, James B. & Reisman, Lonny, 2008. "Information technology and medical missteps: Evidence from a randomized trial," Journal of Health Economics, Elsevier, vol. 27(3), pages 585-602, May.
    4. Huynh, Kim P. & Jung, Juergen, 2015. "Subjective health expectations," Journal of Policy Modeling, Elsevier, vol. 37(4), pages 693-711.
    5. Vincze, János, 2010. "Miért és mitől védjük a fogyasztókat?. Aszimmetrikus információ és/vagy korlátozott racionalitás
      [Asymmetric information and/or bounded rationality: why are consumers protected and from what?]
      ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(9), pages 725-752.
    6. Michael P. Keane & Susan Thorp, 2016. "Complex Decision Making: The Roles of Cognitive Limitations, Cognitive Decline and Ageing," Economics Papers 2016-W10, Economics Group, Nuffield College, University of Oxford.
    7. repec:eee:hapoch:v1_661 is not listed on IDEAS
    8. Ian M. McCarthy & Rusty Tchernis, 2010. "Search costs and Medicare plan choice," Health Economics, John Wiley & Sons, Ltd., vol. 19(10), pages 1142-1165.
    9. Barr, Abigail & Lindelow, Magnus & Serneels, Pieter, 2009. "Corruption in public service delivery: An experimental analysis," Journal of Economic Behavior & Organization, Elsevier, vol. 72(1), pages 225-239, October.
    10. Jonathan Skinner & Douglas Staiger, 2007. "Technology Adoption from Hybrid Corn to Beta-Blockers," NBER Chapters,in: Hard-to-Measure Goods and Services: Essays in Honor of Zvi Griliches, pages 545-570 National Bureau of Economic Research, Inc.
    11. David C. Grabowski & Jonathan Gruber & Joseph J. Angelelli, 2006. "Nursing Home Quality as a Public Good," NBER Working Papers 12361, National Bureau of Economic Research, Inc.
    12. Matthias Wrede, 2005. "Health Values, Preference Inconsistency, and Insurance Demand," CESifo Working Paper Series 1634, CESifo Group Munich.
    13. Brahmbhatt, Milan & Dutta, Arindam, 2008. "On SARS type economic effects during infectious disease outbreaks," Policy Research Working Paper Series 4466, The World Bank.
    14. repec:kap:theord:v:83:y:2017:i:4:d:10.1007_s11238-017-9625-9 is not listed on IDEAS
    15. David C. Grabowski, & David G. Stevenson & Haiden A. Huskamp & Nancy L. Keating, 2005. "The Influence of Medicare Home Health Payment Incentives: Does Payer Source Matter?," PGDA Working Papers 0605, Program on the Global Demography of Aging.
    16. Paul Carrillo & Edgar Castro & Carlos Scartascini, 2017. "Do Rewards Work?: Evidence from the Randomization of Public Works," IDB Publications (Working Papers) 98459, Inter-American Development Bank.
    17. Ryota Nakamura & Marc Suhrcke & Daniel John Zizzo, 2017. "A triple test for behavioral economics models and public health policy," Theory and Decision, Springer, vol. 83(4), pages 513-533, December.

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    JEL classification:

    • I1 - Health, Education, and Welfare - - Health

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