Data from an incentivized laboratory experiment on strategic medical choices

Abstract

This paper presents data of medical choices determining physicians’ profit and patients’ health benefit under three levels of market competition: monopoly, duopoly, and quadropoly. The data was collected from 136 German university students in an incentivized laboratory experiment. The designed experimental parameters and the formula for computing the payoff matrices of the games are described in this paper as well. This data was analyzed by Ge and Godager [5] who employed quantal response equilibrium choice models to investigate the relationship between market competition and determinism in behavior under a quantal response equilibrium paradigm. This data contributes to future investigation on alternative game theoretic equilibrium concepts and the development of empirical methods for studying strategic choice behavior.

Keywords

• Incentivized laboratory experiment
• Oligopoly
• Competition
• Behavioral game theory
• Quantal response equilibrium
• Physician behavior