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Cost Effectiveness and Resource Allocation
Published in: Cost Effectiveness and Resource Allocation 1/2018

Open Access 01-12-2018 | Research

Medical advice-seeking behaviors based on transaction cost theory

Authors: Shih Han Lin, Tom M. Y. Lin

Published in: Cost Effectiveness and Resource Allocation | Issue 1/2018

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Abstract

Background

Given the global trend of aging societies, medical expenditure has hit record highs in many countries. Because medical advice-seeking behaviors can affect the health of whole societies, how members of a society make medical-related decisions with limited available resources is worthy of investigation. Although transaction cost theory has been extensively applied in commercial research, it is yet to be applied in studies on medical advice-seeking behaviors.

Method and results

This study conducted in-depth interviews with 15 participants and verified that transaction cost theory is applicable for analyzing people’s medical advice-seeking behaviors.

Conclusion

This study verified that transaction cost theory influenced the participants’ choices of physicians and treatment methods, which implies that improved transparency of medical information could considerably reduce transaction costs in relation to medical behaviors and enhance people’s well-being.
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Metadata
Title
Medical advice-seeking behaviors based on transaction cost theory
Authors
Shih Han Lin
Tom M. Y. Lin
Publication date
01-12-2018
Publisher
BioMed Central
Published in
Cost Effectiveness and Resource Allocation / Issue 1/2018
Electronic ISSN: 1478-7547
DOI
https://doi.org/10.1186/s12962-018-0167-y

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