Time discounting (d) and pain anticipation: Experimental evidence
AbstractThis paper deals with pain anticipation experienced before medical procedures. Our experimental results show that individuals with lower discount factors are more prone to suffer pain in advance. We provide a framework to rationalize the connection between pain anticipation and impatience. In this set up, more impatient subjects, who only value very near events, take into account mainly the negative effects of medical procedures (just the costs) whereas more patient individuals have a net positive valuation of medical events (given that they value both the cost incurred now and all the benefits accrued in the future).
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Bibliographic InfoPaper provided by Department of Economic Theory and Economic History of the University of Granada. in its series ThE Papers with number 10/13.
Length: 10 pages
Date of creation: 01 Oct 2010
Date of revision:
Other versions of this item:
- Brañas Garza, Pablo & Repollés Pro, María & Espinosa Alejos, María Paz, 2010. "Time discounting (delta) and pain anticipation: Experimental evidence," DFAEII Working Papers 2010-10, University of the Basque Country - Department of Foundations of Economic Analysis II.
- NEP-ALL-2010-10-16 (All new papers)
- NEP-CBE-2010-10-16 (Cognitive & Behavioural Economics)
- NEP-EXP-2010-10-16 (Experimental Economics)
- NEP-HEA-2010-10-16 (Health Economics)
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