Internal Inconsistency and Risk Aversion: Implications on Smoking Decisions/Consistencia interna y aversión al riesgo: implicaciones en la decisión de fumar
The main contribution of this paper is an analysis of the nature of the link between internal coherence and risk aversion. Both variables play an important role in individual decisions concerning risk behaviors. We compare the levels of internal consistency and risk aversion among smokers and non-smokers. To measure the individual internal coherence and risk aversion, we use a survey that includes lottery questions. Our results confirm that smokers are consistent in their decisions and they behave as risk averse. These results should be treated with circumspection as lottery questions are based on monetary expectations that depend on socio-economic conditions and they obviate other dimensions such as social recognition. La principal contribución de este artículo es analizar la naturaleza de la asociación entre la coherencia interna y la aversión al riesgo. Ambas variables juegan un papel principal en las decisiones individuales sobre comportamientos de riesgo, tal que como caso particular, comparamos los niveles consistencia interna y aversión al riesgo entre fumadores y no fumadores. Para medir la coherencia interna y la aversión al riesgo individual, recurrimos a una encuesta que incluye preguntas de loterías. Nuestros resultados confirman que los fumadores son consistentes en sus decisiones, y de hecho, se comportan como adversos al riesgo. Estos resultados hay que tomarlos con cautela, pues las preguntas sobre loterías se basan principalmente en expectativas monetarias que dependen de condiciones socio-económicas obviando otras dimensiones como el reconocimiento social.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 29 (2011)
Issue (Month): (Abril)
|Contact details of provider:|| Postal: Beatriz Rodríguez Prado. Facultad de CC.EE. y EE. Avda. Valle del Esgueva. Valladolid 47011 SPAIN|
Phone: (34) 983 423320
Fax: (34) 983 184568
Web page: http://www.revista-eea.net
More information through EDIRC
|Order Information:|| Web: http://www.revista-eea.net Email: |
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Schunk, Daniel & Winter, Joachim, 2009.
"The relationship between risk attitudes and heuristics in search tasks: A laboratory experiment,"
Journal of Economic Behavior & Organization,
Elsevier, vol. 71(2), pages 347-360, August.
- Schunk, Daniel & Winter, Joachim, 2004. "The Relationship Between Risk Attitudes and Heuristics in Search Tasks: A Laboratory Experiment," Sonderforschungsbereich 504 Publications 04-23, Sonderforschungsbereich 504, Universität Mannheim;Sonderforschungsbereich 504, University of Mannheim.
- Schunk, Daniel & Winter, Joachim, 2004. "The relationship between risk attitudes and heuristics in search tasks : a laboratory experiment," Papers 04-23, Sonderforschungsbreich 504.
- Daniel Schunk & Joachim Winter, 2005. "The Relationship Between Risk Attitudes and Heuristics in Search Tasks: A Laboratory Experiment," MEA discussion paper series 05077, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
- Schunk, Daniel & Winter, Joachim, 2007. "The Relationship Between Risk Attitudes and Heuristics in Search Tasks: A Laboratory Experiment," Discussion Papers in Economics 1377, University of Munich, Department of Economics.
- Schunk, Daniel & Winter, Joachim, 2009. "The relationship between risk attitudes and heuristics in search tasks: A laboratory experiment," Munich Reprints in Economics 19880, University of Munich, Department of Economics.
- Rosa Duarte & José Escario & José Molina, 2006. "The psychosocial behaviour of young Spanish smokers," Journal of Consumer Policy, Springer, vol. 29(2), pages 176-189, June.
- Viscusi, W Kip, 1990. "Do Smokers Underestimate Risks?," Journal of Political Economy, University of Chicago Press, vol. 98(6), pages 1253-1269, December.
- Chaloupka, Frank J. & Wechsler, Henry, 1997. "Price, tobacco control policies and smoking among young adults," Journal of Health Economics, Elsevier, vol. 16(3), pages 359-373, June.
- Frank J. Chaloupka & Henry Wechsler, 1995. "Price, Tobacco Control Policies and Smoking Among Young Adults," NBER Working Papers 5012, National Bureau of Economic Research, Inc.
- Emily Lancsar & Jordan Louviere, 2006. "Deleting 'irrational' responses from discrete choice experiments: a case of investigating or imposing preferences?," Health Economics, John Wiley & Sons, Ltd., vol. 15(8), pages 797-811.
- Lewit, Eugene M. & Coate, Douglas, 1982. "The potential for using excise taxes to reduce smoking," Journal of Health Economics, Elsevier, vol. 1(2), pages 121-145, August.
- Eugene M. Lewit & Douglas Coate, 1981. "The Potential for Using Excise Taxes to Reduce Smoking," NBER Working Papers 0764, National Bureau of Economic Research, Inc.
- Grant, Simon & Quiggin, John, 2005. "Increasing uncertainty: a definition," Mathematical Social Sciences, Elsevier, vol. 49(2), pages 117-141, March.
- Grant, Simon & Quiggan, John, 2004. "Increasing Uncertainty: A Definition," Working Papers 2002-11, Rice University, Department of Economics.
- Grant, Simon & Quiggin, John, 2004. "Increasing Uncertainty: A Definition," Risk and Sustainable Management Group Working Papers 151163, University of Queensland, School of Economics.
- Simon Grant & John Quiggin, 2004. "Increasing Uncertainty: A Definition," Risk & Uncertainty Working Papers WPR04_4, Risk and Sustainable Management Group, University of Queensland.
- Keeler, Theodore E. & Hu, Teh-Wei & Barnett, Paul G. & Manning, Williard G., 1993. "Taxation, regulation, and addiction: A demand function for cigarettes based on time-series evidence," Journal of Health Economics, Elsevier, vol. 12(1), pages 1-18, April.
- Warneryd, Karl-Erik, 1996. "Risk attitudes and risky behavior," Journal of Economic Psychology, Elsevier, vol. 17(6), pages 749-770, December.
- Chris Starmer, 2000. "Developments in Non-expected Utility Theory: The Hunt for a Descriptive Theory of Choice under Risk," Journal of Economic Literature, American Economic Association, vol. 38(2), pages 332-382, June.
- Blondel, Serge & Loheac, Youenn & Rinaudo, Stephane, 2007. "Rationality and drug use: An experimental approach," Journal of Health Economics, Elsevier, vol. 26(3), pages 643-658, May. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:lrk:eeaart:29_1_11. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Beatriz Rodríguez Prado)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.