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Internal Inconsistency and Risk Aversion: Implications on Smoking Decisions/Consistencia interna y aversión al riesgo: implicaciones en la decisión de fumar

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  • GIL-LACRUZ, ANA I.

    () (Dpto. de Economía y Organización de Empresa, Universidad de Zaragoza. España.)

  • GIL-LACRUZ, MARTA

    () (Dpto. de Psicología y Sociología, Universidad de Zaragoza. España.)

Abstract

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.

Suggested Citation

  • Gil-Lacruz, Ana I. & Gil-Lacruz, Marta, 2011. "Internal Inconsistency and Risk Aversion: Implications on Smoking Decisions/Consistencia interna y aversión al riesgo: implicaciones en la decisión de fumar," Estudios de Economía Aplicada, Estudios de Economía Aplicada, vol. 29, pages 387(18á.)-3, Abril.
  • Handle: RePEc:lrk:eeaart:29_1_11
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    References listed on IDEAS

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    More about this item

    Keywords

    Aversión al riesgo; utilidad esperada; toma de decisiones; comportamientos de riesgo. ; Risk aversion; expected utility; decision-making; risk behaviors..;

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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