Individual time preferences for own health: an application of a dichotomous choice question with follow-up

M Pol van der, J Cairns

Research output: Contribution to journalArticle

10 Citations (Scopus)

Abstract

This paper explores the use of the dichotomous choice question with follow-up to examine intertemporal preferences for non-fatal changes in own health. Maximum likelihood estimation by censored logistic regression is used to analyse the data collected from the general public. The results show that the average estimated implied discount rate is equal to 0.073 for the full sample and 0.106 for respondents who have positive implied discount rates in the open-ended questions which were also contained in the questionnaire. The implied discount rates vary from 0.024 to 0.166 depending on the age of the respondent and the period of delay offered (5 or 13 years).

Original languageEnglish
Pages (from-to)649-654
Number of pages6
JournalApplied Economics Letters
Volume6
Publication statusPublished - 1999

Keywords

  • CONTINGENT VALUATION SURVEYS
  • MARKET GOODS
  • LIVES
  • DESIGN

Cite this

Individual time preferences for own health: an application of a dichotomous choice question with follow-up. / Pol van der, M ; Cairns, J .

In: Applied Economics Letters, Vol. 6, 1999, p. 649-654.

Research output: Contribution to journalArticle

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