Differences between Subjective and Predicted Survival Probabilities and Their Relation to Preventive Care Use

Anikó Bíró

The B.E. Journal of Economic Analysis & Policy, 2016, vol. 16, issue 2, 807-835

Abstract: I analyse how differences between subjective and predicted survival probabilities are related to preventive healthcare use. Based on the Health and Retirement Study, I find that private information inherent in subjective survival probability affects the decisions on preventive care use: positive and negative deviations between the subjective and predicted survival probabilities both imply lower likelihood of use, the relations with negative deviations being stronger. These results are driven by perceptions verified by later survival and health outcomes. A theoretical model provides explanation for the empirical results, in which preventive care increases the chances of survival, but the benefits of preventive care also vary with the survival probability.

Keywords: preventive healthcare; private information; subjective survival probability (search for similar items in EconPapers)
JEL-codes: D84 I12 J14 (search for similar items in EconPapers)
Date: 2016
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DOI: 10.1515/bejeap-2015-0154

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