humani nil a me alienum puto

random rants about news, the law, healthcare law, economics and anything I find amusing

Healthcare Economist · Think Aloud: A tool for experimental economists

In his Healthcare Economist Blog, Jason Shafrin discusses a new paper that asks the the pressing economic question:  are individuals rational (in face of some pretty kooky decisions that people sometimes make).  He reviews a recent study that asks participants to “talk outloud” when they make a decision.  And, as it turns out, maybe we are rational, but the assumptions that we bring to the table are kooky.  He gives some examples from the study.   It’s a good lesson for those doing such research (are my assumptions the same as potentially idosyncratic assumptions of my test group?).  And also a psychological question for the rest of us — what is “rational” is often based upon the baseline assumptions that people bring to the table.  Maybe it’s there that the rational decision-maker model breaks down.  Ryan, Watson, and Entwistle (2009) ”Rationalising the irrational: a think aloud study of discrete choice experiment responses” Health Economics, v18(3):321-336.

via Healthcare Economist · Think Aloud: A tool for experimental economists.


Filed under: Health Law, Personal Posts, Risk Management, ,

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

HealthCounsel Tweets

%d bloggers like this: