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 nonsmokers. Heavy smokers are the most impatient and risk-prone, whereas ex-smokers are the most patient and risk-averse. Among nonsmokers, 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 |
|---|---|
| Pages (from-to) | 1169-1182 |
| Number of pages | 14 |
| Journal | International Economic Review |
| Volume | 50 |
| Issue number | 4 |
| DOIs | |
| Publication status | Published - 2009 Nov |
| Externally published | Yes |
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ASJC Scopus subject areas
- Economics and Econometrics
Cite this
Simultaneous measurement of time and risk preferences : Stated preference discrete choice modeling analysis depending on smoking behavior. / Ida, Takanori; Goto, Rei.
In: International Economic Review, Vol. 50, No. 4, 11.2009, p. 1169-1182.Research output: Contribution to journal › Article
}
TY - JOUR
T1 - Simultaneous measurement of time and risk preferences
T2 - Stated preference discrete choice modeling analysis depending on smoking behavior
AU - Ida, Takanori
AU - Goto, Rei
PY - 2009/11
Y1 - 2009/11
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 nonsmokers. Heavy smokers are the most impatient and risk-prone, whereas ex-smokers are the most patient and risk-averse. Among nonsmokers, 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 nonsmokers. Heavy smokers are the most impatient and risk-prone, whereas ex-smokers are the most patient and risk-averse. Among nonsmokers, 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.
UR - http://www.scopus.com/inward/record.url?scp=65549130467&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=65549130467&partnerID=8YFLogxK
U2 - 10.1111/j.1468-2354.2009.00564.x
DO - 10.1111/j.1468-2354.2009.00564.x
M3 - Article
AN - SCOPUS:65549130467
VL - 50
SP - 1169
EP - 1182
JO - International Economic Review
JF - International Economic Review
SN - 0020-6598
IS - 4
ER -