Risk Preferences, Time Preferences, and Smoking Behavior.
There is a rich theoretical literature in economics which models habit‐forming behaviors, of which addiction is the exemplar, but there is a paucity of experimental economic studies eliciting and comparing the preferences that economic theory suggests may differ between addicts and nonaddicts. We ev...
| Publicado en: | Southern Economic Journal Vol. 85; no. 2; pp. 313 - 349 |
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| Autores principales: | , , , |
| Formato: | Artículo |
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Wiley-Blackwell
Oct2018
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=133013145&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 133013145 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00384038 SEJ jtl: Southern Economic Journal issn: 00384038 maglogo: N pubinfo: dt: Oct2018 vid: 85 iid: 2 pid: 480 pub: Wiley-Blackwell artinfo: ui: 133013145 10.1002/soej.12275 ppf: 313 ppct: 36 formats: fmt: – @attributes: type: T – @attributes: type: C – @attributes: type: P size: 526KB tig: atl: Risk Preferences, Time Preferences, and Smoking Behavior. aug: au: Harrison, Glenn W. Hofmeyr, Andre Ross, Don Swarthout, J. Todd su: Economics Cigarette smokers Smoking Addictions Monetary incentives Maximum likelihood statistics sug: subj: Economics Cigarette smokers Smoking Addictions Monetary incentives Maximum likelihood statistics keyword: D81 D91 I1 D81 D91 I1 ab: There is a rich theoretical literature in economics which models habit‐forming behaviors, of which addiction is the exemplar, but there is a paucity of experimental economic studies eliciting and comparing the preferences that economic theory suggests may differ between addicts and nonaddicts. We evaluate an incentive‐compatible risk and time preference experiment conducted on a sample of student smokers and nonsmokers at the University of Cape Town in 2012. We adopt a full information maximum likelihood statistical framework, which is consistent with the data generating processes proposed by structural theories and accounts for subject errors in decision making, to explore the relationship between risk preferences, time preferences, and addiction. Across different theories and econometric specifications, we find no differences in the risk preferences of smokers and nonsmokers but do find that smokers discount significantly more heavily than nonsmokers. We also identify a nonlinear effect of smoking intensity on discounting behavior and find that smoking intensity increases the likelihood of discounting hyperbolically, which means heavier smokers may be more prone to time inconsistency and more recalcitrant to treatment. These results highlight the importance of the theory‐experimental design‐econometric trinity and have important implications for theories of addiction. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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