Simultaneous measurement of time and risk preferences: Stated preference discrete choice modeling analysis depending on smoking behavior

Takanori Ida; Rei Goto

doi:10.1007/978-4-431-55402-8_2

Simultaneous measurement of time and risk preferences: Stated preference discrete choice modeling analysis depending on smoking behavior

Takanori Ida, Rei Goto

Research output: Chapter in Book/Report/Conference proceeding › Chapter

2 Citations (Scopus)

Abstract

Measuring time and risk preferences and relating them to economic behaviors are important topics in behavioral economics. We developed a new method to simultaneously measure the rate of time preference and the coefficient of risk aversion. Analyzing the individual-level relationships between preference parameters and cigarette smoking, we conclude that current smokers are more impatient and risk-prone than non-smokers. Heavy smokers are the most impatient and risk-prone, while ex-smokers are the most patient and risk-averse. Among non-smokers, neither age-related nor gender-related differences were found. On the other hand, risk and time preferences are significantly different according to age and gender for smokers.

Original language	English
Title of host publication	Behavioral Economics of Preferences, Choices, and Happiness
Publisher	Springer Japan
Pages	27-48
Number of pages	22
ISBN (Electronic)	9784431554028
ISBN (Print)	9784431554011
DOIs	https://doi.org/10.1007/978-4-431-55402-8_2
Publication status	Published - 2016 Jan 1
Externally published	Yes

Keywords

Conjoint analysis
Mixed logit model
Risk aversion
Time preference

ASJC Scopus subject areas

Economics, Econometrics and Finance(all)
Business, Management and Accounting(all)
Psychology(all)

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10.1007/978-4-431-55402-8_2

Cite this

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abstract = "Measuring time and risk preferences and relating them to economic behaviors are important topics in behavioral economics. We developed a new method to simultaneously measure the rate of time preference and the coefficient of risk aversion. Analyzing the individual-level relationships between preference parameters and cigarette smoking, we conclude that current smokers are more impatient and risk-prone than non-smokers. Heavy smokers are the most impatient and risk-prone, while ex-smokers are the most patient and risk-averse. Among non-smokers, neither age-related nor gender-related differences were found. On the other hand, risk and time preferences are significantly different according to age and gender for smokers.",

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author = "Takanori Ida and Rei Goto",

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AU - Ida, Takanori

AU - Goto, Rei

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PY - 2016/1/1

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N2 - Measuring time and risk preferences and relating them to economic behaviors are important topics in behavioral economics. We developed a new method to simultaneously measure the rate of time preference and the coefficient of risk aversion. Analyzing the individual-level relationships between preference parameters and cigarette smoking, we conclude that current smokers are more impatient and risk-prone than non-smokers. Heavy smokers are the most impatient and risk-prone, while ex-smokers are the most patient and risk-averse. Among non-smokers, neither age-related nor gender-related differences were found. On the other hand, risk and time preferences are significantly different according to age and gender for smokers.

AB - Measuring time and risk preferences and relating them to economic behaviors are important topics in behavioral economics. We developed a new method to simultaneously measure the rate of time preference and the coefficient of risk aversion. Analyzing the individual-level relationships between preference parameters and cigarette smoking, we conclude that current smokers are more impatient and risk-prone than non-smokers. Heavy smokers are the most impatient and risk-prone, while ex-smokers are the most patient and risk-averse. Among non-smokers, neither age-related nor gender-related differences were found. On the other hand, risk and time preferences are significantly different according to age and gender for smokers.

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KW - Risk aversion

KW - Time preference

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ER -

Simultaneous measurement of time and risk preferences: Stated preference discrete choice modeling analysis depending on smoking behavior

Abstract

Keywords

ASJC Scopus subject areas

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