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Association of time preference for health with age and disease severity

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  • K. Stavem
  • I. S. Kristiansen
  • J. A. Olsen

Abstract

This study assessed the relationship between time preference for health and age and disease severity. An implicit time preference for health was inferred in 59 patients with chronic obstructive pulmonary disease (COPD) using the time tradeoff method with 10-year and 30-year perspectives. The preference rate was calculated by solving the resulting nonlinear equation, solvable for 50 patients.Among the resulting rates, 4 were negative, 8 zero, and 38 positive. The time preference rate ranged from −10.8% to 75.0%, with a median of 6.6%, and a mean of 11.5%. In correlation analysis, the implicit time preference rate was associated with age;however, there was little association with markers of disease severity. In multivariate analysis, only age was a significant predictor of time preference rate after controlling for the other variables in the model. Copyright Springer-Verlag Berlin Heidelberg 2002

Suggested Citation

  • K. Stavem & I. S. Kristiansen & J. A. Olsen, 2002. "Association of time preference for health with age and disease severity," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 3(2), pages 120-124, June.
    • Handle: RePEc:spr:eujhec:v:3:y:2002:i:2:p:120-124
    DOI: 10.1007/s10198-002-0102-0
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    References listed on IDEAS

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    Cited by:

    1. Kristian Schultz Hansen & Lars Peter Østerdal, 2006. "Models of Quality‐Adjusted Life Years when Health Varies Over Time: Survey and Analysis," Journal of Economic Surveys, Wiley Blackwell, vol. 20(2), pages 229-255, April.
    2. Marjon Pol & Larissa Roux, 2005. "Time preference bias in time trade-off," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 6(2), pages 107-111, June.

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