Predicting health behaviors with an experimental measure of risk preference.
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 18-87 years. Risk preference is measured by the lottery choice experiment designed by Holt and Laury [Holt, C.A., Laury, S.K., 2002. Risk aversion and incentive effects. The American Economic Review 92(5), 1644-1655]. 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.
Anderson
Lisa R
LR
Department of Economics, College of William and Mary, Williamsburg, VA 23187-8795, USA. lrand@wm.edu
Mellor
Jennifer M
JM
D000293:Adolescent; D000328:Adult; D000368:Aged; D000369:Aged, 80 and over; D000428:Alcohol Drinking / Q000523:psychology; D001294:Attitude to Health; D003258:Consumer Behavior / Q000706:statistics & numerical data*; D036262:Empirical Research; D005715:Gambling / Q000523:psychology*; D015438:Health Behavior; D006801:Humans; D008875:Middle Aged; D009765:Obesity / Q000523:psychology; D050177:Overweight / Q000523:psychology; D011594:Psychometrics; D018570:Risk Assessment; D012309:Risk-Taking; D012622:Seat Belts / Q000706:statistics & numerical data; D012907:Smoking / Q000523:psychology; D012959:Socioeconomic Factors