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Is risk attitude outcome specific within the health domain?

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  • van der Pol, Marjon
  • Ruggeri, Matteo

Abstract

The aim of this study is to examine whether individuals' risk attitude for life years differ from their risk attitude for quality of life. The study also investigates two different framing effects, an order and sequence effect, and the interaction between risk attitude and time preferences. The results showed that individuals tended to be risk averse with respect to the gamble involving risk of immediate death and risk seeking with respect to the other health gambles. Varying the order of the questions or the sequence of full health and ill-health did not seem to systematically bias the estimates.

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  • 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.
    • Handle: RePEc:eee:jhecon:v:27:y:2008:i:3:p:706-717
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    References listed on IDEAS

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    Cited by:

    1. Joseph G Eisenhauer, 2012. "Measuring Aversion to Health Risks," Journal of Economics and Behavioral Studies, AMH International, vol. 4(2), pages 96-107.
    2. Sophie Massin & Antoine Nebout & Bruno Ventelou, 2018. "Predicting medical practices using various risk attitude measures," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 19(6), pages 843-860, July.
    3. Sven Tengstam, 2014. "Disability And Marginal Utility Of Income: Evidence From Hypothetical Choices," Health Economics, John Wiley & Sons, Ltd., vol. 23(3), pages 268-282, March.
    4. Matteo M. Galizzi, 2014. "What Is Really Behavioral in Behavioral Health Policy? And Does It Work?," Applied Economic Perspectives and Policy, Agricultural and Applied Economics Association, vol. 36(1), pages 25-60.
    5. Michael Grimm & Carole Treibich, 2013. "Why Do Some Bikers Wear a Helmet and Others Don't? Evidence from Delhi, India," AMSE Working Papers 1348, Aix-Marseille School of Economics, France, revised 10 Oct 2013.
    6. Marjon van der Pol, 2011. "Health, education and time preference," Health Economics, John Wiley & Sons, Ltd., vol. 20(8), pages 917-929, August.
    7. Matteo Ruggeri & Carlo Drago, 0. "Is risk attitude toward health outcomes context driven?," Quality & Quantity: International Journal of Methodology, Springer, vol. 0, pages 1-15.
    8. Galizzi, Matteo M. & Miraldo, Marisa & Stavropoulou, Charitini & van der Pol, Marjon, 2016. "Doctor–patient differences in risk and time preferences: A field experiment," Journal of Health Economics, Elsevier, vol. 50(C), pages 171-182.
    9. Stefan A. Lipman & Arthur E. Attema, 2019. "Rabin's paradox for health outcomes," Health Economics, John Wiley & Sons, Ltd., vol. 28(8), pages 1064-1071, August.
    10. Tayyari Dehbarez, Nasrin & Gyrd-Hansen, Dorte & Uldbjerg, Niels & Søgaard, Rikke, 2018. "Does free choice of hospital conflict with equity of access to highly specialized hospitals? A case study from the Danish health care system," Health Policy, Elsevier, vol. 122(7), pages 722-727.
    11. Grimm, Michael & Treibich, Carole, 2016. "Why do some motorbike riders wear a helmet and others don’t? Evidence from Delhi, India," Transportation Research Part A: Policy and Practice, Elsevier, vol. 88(C), pages 318-336.
    12. Kaufmann, Cornel & Müller, Tobias & Hefti, Andreas & Boes, Stefan, 2018. "Does personalized information improve health plan choices when individuals are distracted?," Journal of Economic Behavior & Organization, Elsevier, vol. 149(C), pages 197-214.
    13. Grimm, M. & Treibich, C., 2010. "Socio-economic determinants of road traffic accident fatalities in low and middle income countries," ISS Working Papers - General Series 19841, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague.
    14. Rouyard, Thomas & Attema, Arthur & Baskerville, Richard & Leal, José & Gray, Alastair, 2018. "Risk attitudes of people with ‘manageable’ chronic disease: An analysis under prospect theory," Social Science & Medicine, Elsevier, vol. 214(C), pages 144-153.
    15. Caliendo, Marco & Cobb-Clark, Deborah A. & Obst, Cosima & Uhlendorff, Arne, 2020. "Risk Preferences and Training Investments," IZA Discussion Papers 13828, Institute of Labor Economics (IZA).
    16. Kris De Jaegher, 2019. "Strategic framing to influence clients’ risky decisions," Theory and Decision, Springer, vol. 86(3), pages 437-462, May.
    17. van der Pol, Marjon & Walsh, David & McCartney, Gerry, 2015. "Comparing time and risk preferences across three post-industrial UK cities," Social Science & Medicine, Elsevier, vol. 140(C), pages 54-61.
    18. Petrolia, Daniel R., 2016. "Risk preferences, risk perceptions, and risky food," Food Policy, Elsevier, vol. 64(C), pages 37-48.
    19. Emmanuel Kemel & Corina Paraschiv, 2018. "Deciding about human lives: an experimental measure of risk attitudes under prospect theory," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 51(1), pages 163-192, June.
    20. Miraldo, M & Galizzi, M & Stavropoulou, C, 2013. "Doctor-patient differences in risk preferences, and their links to decision-making: a field experiment," Working Papers 12578, Imperial College, London, Imperial College Business School.

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