Predicting Health Behaviors with an Experimental Measure of Risk Preference

Lisa Anderson () and Jennifer M. Mellor ()
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Lisa Anderson: Department of Economics, College of William and Mary

No 59, Working Papers from Department of Economics, College of William and Mary

Abstract: We conduct a large-scale economics experiment paired with a survey to examine the association between individual risk preference and health-related behaviors among adults aged 18 to 87 years. Risk preference is measured by the Holt and Laury (2002) lottery choice experiment. Controlling for subject demographic and economic characteristics, we find that risk aversion is negatively and significantly associated with cigarette smoking, heavy drinking, being overweight or obese, and seat belt non-use. In additional specifications, we find that risk aversion is negatively and significantly associated with the likelihood a subject engaged in any of five risky behaviors and the number of risky behaviors reported.

Keywords: risk preference; lottery choice experiment; health risk behaviors; smoking (search for similar items in EconPapers)
JEL-codes: I12 C91 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cbe, nep-exp and nep-hea
Date: 2007-09-15
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