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Negative and zero time preference for health

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Author Info

  • Marjon M. Van Der Pol

    (University of Aberdeen, Aberdeen, Scotland, UK)

  • John A. Cairns

    (University of Aberdeen, Aberdeen, Scotland, UK)

Abstract

The assumption of positive time preference is seldom challenged in analyses of intertemporal choices, despite considerable evidence of zero and negative discount rates. In this study, the majority of respondents have positive discount rates, but a substantial number have negative or zero discount rates. Using probit regression, the perception of the severity of the health-state, gender, education and perception of the questions in terms of difficulty are shown to influence whether individuals have positive discount rates. Copyright © 2000 John Wiley & Sons, Ltd.

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Bibliographic Info

Article provided by John Wiley & Sons, Ltd. in its journal Health Economics.

Volume (Year): 9 (2000)
Issue (Month): 2 ()
Pages: 171-175

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Handle: RePEc:wly:hlthec:v:9:y:2000:i:2:p:171-175

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Web page: http://www3.interscience.wiley.com/cgi-bin/jhome/5749

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References

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  1. Olson, Mancur & Bailey, Martin J, 1981. "Positive Time Preference," Journal of Political Economy, University of Chicago Press, vol. 89(1), pages 1-25, February.
  2. Loewenstein, George, 1987. "Anticipation and the Valuation of Delayed Consumption," Economic Journal, Royal Economic Society, vol. 97(387), pages 666-84, September.
  3. Chapman, Gretchen B., 1996. "Expectations and Preferences for Sequences of Health and Money," Organizational Behavior and Human Decision Processes, Elsevier, vol. 67(1), pages 59-75, July.
  4. John A. Cairns & Marjon M. Van Der Pol, 1997. "Saving future lives. A comparison of three discounting models," Health Economics, John Wiley & Sons, Ltd., vol. 6(4), pages 341-350.
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Citations

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Cited by:
  1. Linda D. MacKeigan & Amiram Gafni & Bernie J. O'Brien, 2003. "Double discounting of QALYs," Health Economics, John Wiley & Sons, Ltd., vol. 12(2), pages 165-169.
  2. Joshua A. Salomon & Christopher J.L. Murray, 2004. "A multi-method approach to measuring health-state valuations," Health Economics, John Wiley & Sons, Ltd., vol. 13(3), pages 281-290.
  3. van der Pol, Marjon & Ruggeri, Matteo, 2008. "Is risk attitude outcome specific within the health domain?," Journal of Health Economics, Elsevier, vol. 27(3), pages 706-717, May.
  4. van der Pol, Marjon & Cairns, John, 2002. "A comparison of the discounted utility model and hyperbolic discounting models in the case of social and private intertemporal preferences for health," Journal of Economic Behavior & Organization, Elsevier, vol. 49(1), pages 79-96, September.
  5. repec:ebl:ecbull:v:9:y:2005:i:7:p:1-8 is not listed on IDEAS
  6. Vladislav Savin & Elena Rovenskaya, 2011. "Remarks on fair wealth accumulation in Russia," Environment, Development and Sustainability, Springer, vol. 13(5), pages 923-937, October.
  7. Juan D. Moreno-Ternero & Carmen Herrero, 2005. "A new outcome measure for cost-utility analyses of screening programs," Economics Bulletin, AccessEcon, vol. 9(7), pages 1-8.
  8. Dodd, Mark C., 2014. "Intertemporal discounting as a risk factor for high BMI: Evidence from Australia, 2008," Economics & Human Biology, Elsevier, vol. 12(C), pages 83-97.
  9. Benjamin M. Craig, 2009. "The duration effect: a link between TTO and VAS values," Health Economics, John Wiley & Sons, Ltd., vol. 18(2), pages 217-225.

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