Time and Risk Preferences and the Perceived Effectiveness of Incentives to Comply with Diabetic Retinopathy Screening Among Older Adults with Type 2 Diabetes

Overview

Journal Front Psychol

Date 2023 May 4

PMID 37138986

Authors

Jianjun Tang

Ziwei Yang

Frank Kee

Nathan Congdon

Affiliations

Soon will be listed here.

Abstract

Behavioral economics has the potential to inform the design of incentives to improve disease screening programs by accounting for various behavioral biases. We investigate the association between multiple behavioral economics concepts and the perceived effectiveness of incentive strategies for behavioral change among older patients with a chronic disease. This association is examined by focusing on diabetic retinopathy screening, which is recommended but very variably followed by persons living with diabetes. Five time and risk preference concepts (i.e., utility curvature, probability weighting, loss aversion, discount rate, and present-bias) are estimated simultaneously in a structural econometric framework, based on a series of deliberately-designed economic experiments offering real money. We find that higher discount rates and loss aversion and lower probability weighting are significantly associated with lower perceived effectiveness of intervention strategies whereas present-bias and utility curvature have an insignificant association with it. Finally, we also observe strong urban vs. rural heterogeneity in the association between our behavioral economic concepts and the perceived effectiveness of intervention strategies.

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