title: The role of regret minimisation in lifestyle choices affecting the risk of coronary heart disease.
abstract: This paper introduces the discrete choice model-paradigm of Random Regret Minimisation (RRM) to the field of health economics. The RRM is a regret-based model that explores a driver of choice different from the traditional utility-based Random Utility Maximisation (RUM). The RRM approach is based on the idea that, when choosing, individuals aim to minimise their regret-regret being defined as what one experiences when a non-chosen alternative in a choice set performs better than a chosen one in relation to one or more attributes. Analysing data from a discrete choice experiment on diet, physical activity and risk of a fatal heart attack in the next ten years administered to a sample of the Northern Ireland population, we find that the combined use of RUM and RRM models offer additional information, providing useful behavioural insights for better informed policy appraisal.
authors.affiliation: Queen's University of Belfast, Gibson Institute for Land, Food and Environment, School of Biological Sciences, 97 Lisburn Road, Medical Biology Centre, Belfast BT9 7BL, United Kingdom. m.boeri@qub.ac.uk
authors.forename: Marco
authors.initials: M
authors.lastname: Boeri
authors.forename: Alberto
authors.initials: A
authors.lastname: Longo
authors.forename: José M
authors.initials: JM
authors.lastname: Grisolía
authors.forename: W George
authors.initials: WG
authors.lastname: Hutchinson
authors.forename: Frank
authors.initials: F
authors.lastname: Kee
mesh_terms: D000328:Adult; D000368:Aged; D002755:Choice Behavior; D003327:Coronary Disease / Q000517:prevention & control / Q000523:psychology*; D004032:Diet / Q000523:psychology; D060909:Economics, Behavioral; D004644:Emotions; D005260:Female; D006801:Humans; D008019:Life Style; D008297:Male; D008875:Middle Aged; D009043:Motor Activity; D009203:Myocardial Infarction / Q000517:prevention & control / Q000523:psychology; D009660:Northern Ireland; D040242:Risk Reduction Behavior; D012959:Socioeconomic Factors; D011795:Surveys and Questionnaires