Time discounting (d) and pain anticipation: Experimental evidence

Pablo Brañas-Garza, Maria Paz Espinosa and María Repolles
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María Repolles: GLOBE and Universidad de Granada and Virgen de las Nieves Hospital, Granada

No 10/13, ThE Papers from Department of Economic Theory and Economic History of the University of Granada.

Abstract: This paper deals with pain anticipation experienced before medical procedures. Our experimental results show that individuals with lower discount factors are more prone to suffer pain in advance. We provide a framework to rationalize the connection between pain anticipation and impatience. In this set up, more impatient subjects, who only value very near events, take into account mainly the negative effects of medical procedures (just the costs) whereas more patient individuals have a net positive valuation of medical events (given that they value both the cost incurred now and all the benefits accrued in the future).

Pages: 10 pages
Date: 2010-10-01
New Economics Papers: this item is included in nep-cbe, nep-exp and nep-hea
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Persistent link: https://EconPapers.repec.org/RePEc:gra:wpaper:10/13

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