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TIME DISCOUNTING AND SMOKING BEHAVIOR: EVIDENCE FROM A PANEL SURVEY-super-

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  • Myong‐Il Kang
  • Shinsuke Ikeda

Abstract

ABSTRACT By using a panel survey of Japanese adults, we show that smoking behavior is associated with personal time discounting and its biases, such as hyperbolic discounting and the sign effect, in the way that theory predicts: smoking depends positively on the discount rate and the degree of hyperbolic discounting and negatively on the presence of the sign effect. Positive effects of hyperbolic discounting on smoking are salient for naïve people, who are not aware of their self‐control problem. By estimating smoking participation and smokers' cigarette consumption in Cragg's two‐part model, we find that the two smoking decisions depend on different sets of time‐discounting variables. Particularly, smoking participation is affected by being a naïve hyperbolic discounter, whereas the discount rate, the presence of the sign effect, and a hyperbolic discounting proxy constructed from procrastination behavior vis‐à‐vis doing homework assignments affect both types of decision making. The panel data enable us to analyze the over‐time instability of elicited discount rates. The instability is shown to come from measurement errors, rather than preference shocks on time preference. Several evidences indicate that the detected associations between time preferences and smoking behavior are interpersonal one, rather than within‐personal one. Copyright © 2013 John Wiley & Sons, Ltd.

Suggested Citation

  • Myong‐Il Kang & Shinsuke Ikeda, 2014. "TIME DISCOUNTING AND SMOKING BEHAVIOR: EVIDENCE FROM A PANEL SURVEY-super-," Health Economics, John Wiley & Sons, Ltd., vol. 23(12), pages 1443-1464, December.
  • Handle: RePEc:wly:hlthec:v:23:y:2014:i:12:p:1443-1464
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    Cited by:

    1. Shinsuke Ikeda & Myong-Il Kang, 2015. "Hyperbolic Discounting, Borrowing Aversion and Debt Holding," The Japanese Economic Review, Japanese Economic Association, vol. 66(4), pages 421-446, December.
    2. Laurent Denant-Boemont & Enrico Diecidue & Olivier l’Haridon, 2017. "Patience and time consistency in collective decisions," Experimental Economics, Springer;Economic Science Association, vol. 20(1), pages 181-208, March.
    3. Takagi, Daisuke & Kondo, Naoki & Takada, Misato & Hashimoto, Hideki, 2016. "Educational attainment, time preference, and health-related behaviors: A mediation analysis from the J-SHINE survey," Social Science & Medicine, Elsevier, vol. 153(C), pages 116-122.
    4. Takahiro Miura, 2016. "The association between time preference and smoking behavior: A dynamic panel analysis," Discussion Papers in Economics and Business 16-16, Osaka University, Graduate School of Economics.
    5. Kang, Myong-Il & Ikeda, Shinsuke, 2016. "Time discounting, present biases, and health-related behaviors: Evidence from Japan," Economics & Human Biology, Elsevier, vol. 21(C), pages 122-136.
    6. Hübler, Philipp, 2017. "Heritability of time preference: Evidence from German twin data," MPRA Paper 77620, University Library of Munich, Germany.
    7. Philipp Huebler, 2017. "Heritability of time preference: Evidence from German twin data," Discussion Paper Series 334, Universitaet Augsburg, Institute for Economics.
    8. repec:eee:soceco:v:78:y:2019:i:c:p:170-180 is not listed on IDEAS

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